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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.
Explain the Applied and Fundamental Research Research can either be fundamental or applied. Applied research aims at finding a solution for an immediate problem facing an indus
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Duty Entitlement Pass Book : Under the Duty Entitlement Pass Book scheme, an exporter shall be eligible to claim credit as a specified percentage of FOB value made in freely conve
Write a report with a market researchers view on any company evaluating the company's marketing or competitive strategy. Or select a product from a large organisation and evaluate
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DUTY DRAWBACK SCHEME: The scheme of Duty Drawback is governed by the 'Customs and Central Excise Duties Drawback Rules' compiled and notified by 'Drawback Directorate' of the Depa
What was the distribution of products in marketing mixed?
OBJECTIVES After Studying this unit, you should be able to: 1. Describe the procedure of Pre-shipment Credit; 2. Explain various types and procedure of Post-shipment Cr
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Q. Explain concept of personality and self concept? Personalit y can be explained as the psychological characteristics that both determine and reflect how a person responds to
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