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Actual Total Loss (ATL): An actual total loss may occur in three ways. Firstly when the, insured cargo is physically destroyed when fire in the hold of the ship destroys completely a consignment of paper or when a ship sinks in deep water and the ship with cargo is destroyed and there is no possibility of salvage (recovery). Secondly the insured cargo is so damaged that it ceases to be a thing insured. as in the case of cement that becomes concrete due to damage by sea water. Thirdly actual loss also occurs when the insured cargo is irretrievably lost beyond a reasonable time period. For example ship with cargo sinks which can be retrieved, but will take so much of time that the insured goods would cease to be of value to the insured. Similarly, when cargo is miss located, the insured may consider it total loss if it cannot be restored to him within a reasonable time period.
Question: (i) What is cost-plus pricing method? Why is its application particularly problematic in service industries? (ii) Discuss the factors which might influence the p
Attitude Change Strategies . Changing attitudes is in general very difficult particularly when consumers suspect that the marketer has a self-serving agenda in bringing about thi
A review of 100 opera patrons was conducted. Respondents were asked how often they attended the symphony in a neighbouring city. The frequency of attendance was partitioned into
Advance Licence: An advance licence is granted to a merchant exporter or manufacturer exporter for the import of inputs required for the manufacture of goods without payment of ba
OBJECTIVES After studying this unit, you should be able to: 1. Explain the meaning of exchange rate; 2. Describe various types of exchange risk; 3. Discuss the meas
Customs Clearance Stages: There are four stages of customs involvement. These are: 1) Processing of documents at the Customs House i.e. the main office. This stage involves:
Culture is learned through the following three ways: 1. Formal learning : Parents as well as elders teach children the proper way to behave. For example you have been taugh
What is the difference between abstract construct and concrete variable?
Q. Approaches to belief change exist? Numerous approaches to belief change exist. 1. Change currently held beliefs . It is in general very difficult to attempt to change be
OBJECTIVES After studying this unit, you should be able to: 1. Explain the objectives of exchange control; 2. Describe the principal provisions of Foreign Exchange Regula
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