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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.
Ii is experienced that sometimes a vaguely formulated problems introduces many difficulties in proper decision making as well as to conduct true and relevant research. A proper def
PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible f
Resources: Marketing Research Process Chart and Issues Addressed at Initial Research Meeting (Table) on p. 99 in Sports Marketing: A Strategic Perspective Write a 350-
KINDS OF PERILS : The cargo insurance policy can be as wide as to cover all possible kinds of risk and losses to which cargo could be exposed in transit. The event which lead to l
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
Forward Quotations : Forward rates can be expressed in two ways. Commercial customers are usually quoted the .actual price which is referred to the outright rate. On the other han
A research problem in general refer to some difficulty which a researcher experiences in the context of either a theoretical or practical situation and wants to obtain a solution f
OBJECTIVES After studying this unit, you should be able to: 1. explain the nature of export sales contract 2. distinguish between domestic sales contract and export sal
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
Define Data cleaning in preliminary data analysis Data cleaning focuses on error detection and consistency checks and treatment of missing responses. First step in the data cle
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