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Marine Insurance Contract : Article 3 of the Indian Marine Insurance Act, 1963 defines marine insurance contract as "It is an agreement whereby the insurer undertakes to indemnify the assured bin the manner and to extent thereby agreed, against marine losses, that is to say, the losses incidental to marine adventure". Before we explain different aspects of the marine insurance contract, it should be clearly understood that the word "marine" used in the definition does not have any specific connotation. Despite the usage of this word, cargo insurance principles as stated in the definition are equally applicable to all modes of transport used in the carriage of goods.
Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit
Ask 1 A Chennai based soft –drink company has proposed to launch a new variant of Soft-drink in three flavours lemon , rose , and orange priced at Rs.6 /- ,Rs.7/- Rs.8 /- in 300ml
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Recoverable Expenses: An insurance company will pay expenses incurred by the insured for recovering loss for preventing it to the cargo. This is, however, subject to two condition
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
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Legal Framework : Section 50 of the Indian Customs Act requires the exporter to file a declaration in a prescribed form and submit supporting documents to enable the customs autho
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