Procedure for making a claim, Marketing Research

Assignment Help:

PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible for a claim one month after his loss is admitted to rank against the insolvent's estate or after four months for the due date, whichever is earlier. In case of protracted default, claim is payable after four months from the due date. Claims in respect of additional handling, transport or insurance charges incurred by the exporter because of interruption or diversion of voyage outside India are payable after proof of loss is furnished. In all other cases, claim is payable after four months from the date of the event causing loss.

However, in case of-exports to countries where long transfer delays are experienced, ECGC may extend the waiting period and claims for such shipments are payable after the expiry of such extended period. Sometimes the buyer does not accept goods or pay for then1 because of differences over fulfilment of the terms of contract by the exporter, counter claims 01. set-off. In such cases, ECGC considers claims after the dispute between the parties is resolved and the amount payable is established by obtaining a decree in a court of law in the country of buyer. This condition is waived in cases where the Corporation is satisfied that the exporter is not at fault and that no useful purpose would be served by proceeding against the buyer.

 


Related Discussions:- Procedure for making a claim

Explain about freudian theory, Freudian theory: _ The idea that much of...

Freudian theory: _ The idea that much of human behaviour stems from a fundamental conflict between a person's desire to gratify his/her physical needs and the necessity to func

Foreign exchange regulation concerning exports, FOREIGN EXCHANGE REGULATION...

FOREIGN EXCHANGE REGULATION CONCERNING EXPORTS : Export of goods is the most important foreign exchange earner for the country and the law provides that foreign exchange in paymen

Explain about the data editing, Explain about the data editing Usual f...

Explain about the data editing Usual first step in data preparation is to edit raw data collected through questionnaire. Editing detects errors and omissions, corrects them wh

Despatch of goods not involving foreign exchange, Despatch of Goods not Inv...

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

What are the different needs and motives of the consumer, Q: What are the d...

Q: What are the different needs and motives of the consumer according to which a consumer buy the product? Ans: Needs : Requires can be explained in the following manner:

Ecgc schemes for covering exchange risks, ECGC SCHEMES FOR COVERING EXCHANG...

ECGC SCHEMES FOR COVERING EXCHANGE RISKS: The ECGC has evolved two schemes to provide greater protection to exporters of capital goods and turnkey project against the risk of fluc

Objectives-shipment of export cargo, OBJECTIVES After studying this Uni...

OBJECTIVES After studying this Unit, you should be able to: 1.  Explain stages involved in export cargo shipment 2.  Discuss the policy for Central Excise Rebate on expor

Forward contracts-foreign exchange risks, Forward Contracts : As you have ...

Forward Contracts : As you have learnt that entering into forward contract is one of the important method of dealing with the foreign exchange risk. Let us also remind you that in

Market research for international marketing, Problem 1 List out the sec...

Problem 1 List out the secondary sources of information while pursuing market research. Market research for international marketing Secondary sources of information

Proactive interference, There are various reasons why retrieval can fail or...

There are various reasons why retrieval can fail or in less fancy terms how we come to forget. One is decay at this time information that is not accessed frequently essentially '

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd