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Extraneous Perils : These are the incidental perils to which the cargo is exposed. These are caused mainly on account of the faults in loading, keeping, carrying and unloading of cargo. Examples of such perils are: improper stowage, rough handling, breakage and leakage, hook and sling damage, contract with mud, oils and acids and theft, pilferage and non-delivery.
The Maritime and Extraneous perils are incorporated in the Institute cargo clauses standardised by the Institute of London Underwriters. These clauses constitute the terms and conditions of the insurance and are appended to the policy form known as MAR Policy Form.
Despatch of Goods not Involving Foreign Exchange The despatch of certain goods does not involve foreign exchange, for example, Gift parcels. In this case, GRPP form is not appl
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Purchase Discount of Foreign Bills : Purchase or discount facilities in respect of export bills drawn under confirmed export contracts are generally granted to exporters who enjoy
Importer-Exporter Code Numbe r: No export or import shall be made by any person without an Importer-Exporter Code (IEC) number unless specifically exempted. An application for gran
Cancellation and Extension of Forward Contracts: If the exporter is not able to deliver even within the option period, he may approach to the bank either for cancellation or for e
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