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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.
EXPORTS UNDER DEFERRED PAYMENTS : You have learnt that all export proceeds must be surrendered to an authorised dealer within 180 days from the date of shipment. Exporters are r
If asking custoemrs if they have problems, would it be exchange function of marketing?
Investigate the planning principles and range of tools and techniques involved in developing a general or marketing strategy (a) Select an organisation to use as a case study or
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Strike Perils : In marine insurance, strike perils mean events which lead to loss or damage to cargo caused by: i) Strikes, lock-out workmen or persons taking part in labour di
INTRODUCTION : You have learnt about export credit insurance in Unit 9. As you know, export business involves exchange of currency of one country for that of another country. This
Write a short note on fundamental properties of measurement. Answer There are four primary fundamental properties of measurement: assignment, distance, order and origin. A
You are the member of an advertising team assembled to develop a promotional campaign for a new digital camera. Develop three headlines for these campaigns each based on one of the
List out the secondary sources of information while pursuing market research.
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