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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 conditions. Firstly, the expenses must be to prevent or minimise the loss due to the insured perils. Secondly the liability of the insurance company will not exceed the sum insured. These recoverable charges are:
a) Extra charges which include survey fees and reconditioning costs;
b) Sue and labour charges, which include all expenses to prevent loss damage to goods for which insurance company would be liable; and
c) Forwarding expenses which may be incurred when voyage is terminated short of destination.
Amount: The loan amount is decided on the basis of export order and the credit rating of the exporter by the bank. Generally the amount of packing credit will not exceed FOB value
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
Discuss construct validity and types of construct validity. Answer Construct validity addresses question of what construct or characteristic the scale is, in fact, measuri
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Whom do members of a sales force typically represent?
Q: How personal influence of consumer behavior can create Diffusion of Innovation.? Ans: Products be likely to go through a life cycle. Primarily a product is introduced. S
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 complet
Explain about marketing. Marketing is a pervasive phenomenon in the current day world. Each day we are exposed to marketing of goods and services, as well as ideas. It may be d
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
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