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Recoverable Expenses: An insurance company will pay expenses incurred by the insured for recovering loss for preventing it to the cargo. This is, however, subject to two conditions. Firstly, the expenses must be to prevent or minimise the loss due to the insured perils. Secondly the liability of the insurance company will not exceed the sum insured. These recoverable charges are:
a) Extra charges which include survey fees and reconditioning costs;
b) Sue and labour charges, which include all expenses to prevent loss damage to goods for which insurance company would be liable; and
c) Forwarding expenses which may be incurred when voyage is terminated short of destination.
NATURE OF CARGO INSURANCE POLICY A marine or cargo insurance policy has an international character and, therefore, a policy taken in one country is acceptable in other coun
MEANING AND NATURE OF EXCHANGE RATES : During the Great Depression of the 1930s, almost all countries found it difficult to increase their exports. Many of them decided to resort
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Export of Spares: Warranty spares, whether indigenous or imported, of plant, equipment, machinery, automobiles or any other goods may be exported upto 7.5% of the FOB value of the
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Paradise land management case study
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The research problem undertaken for study must be carefully selected. The task is a difficult one although it may not appear to be so. Help may be taken from as research guide in t
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