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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.
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
Export of Repaired Goods: Goods or parts thereof on being exported and found defective damaged or otherwise unfit for use may be imported for repair and subsequent re-export. S
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FINANCIAL GUARANTEES: Exporters require adequate financial support from banks to carry out their export contracts; ECGC's guarantees protect the banks from losses on account of th
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Export of Passenger Baggage: Bonafide personal baggage may be exported along with the passenger. It may also be exported within one year before or after the Passenger's departure
PORT PROCEDURES : Export cargoes can be brought into the port only after the ship has been all owned a berth and declared for loading. Some port authorities in India require the s
Uses or Importance to Business and Industry: 1 Decision making tool: marketing research is useful for taking marketing management decision. It provides necessary information
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