Specific voyage policy, Marketing Research

Assignment Help:

Specific Voyage Policy : A Voyage Policy covers the risks that may arise during a journey from specific place to another. The terms and conditions of the insurance are set out in the appropriate I.L.U. (Institute of London Underwriters) and other clauses. The clauses cover mainly the perils and risk covered under the policy as well as conditions related to the insurable value and claims.

According to the Indian Stamp Act, each policy must be stamped. The stamp duty is recoverable from the insured. For creating transferability, the policy is required to be assigned by blank endorsement by writing "for and on behalf of' followed by the name of the insured (e.g., exporting firm) and the signature of the director or partner.

The insurance policy comprises "MAR" Policy form, which contains no insurance conditions and the Institute Clauses (A, B or C and War and Strike Clauses) which contain insurance conditions. It must be noted that Duration Clauses, which provide warehouse-to-warehouse cover, are part of the Institute Cargo Clauses. Hence, unless specifically deleted, the warehouse-to-warehouse cover is deemed to be effective. In this way, Voyage Policy also becomes a Time Policy.

 


Related Discussions:- Specific voyage policy

International marketing logistic, difference between heavy lift and long li...

difference between heavy lift and long lift surcharge?

Excise rebate policy, Excise Rebate Policy : The scheme under which the Ce...

Excise Rebate Policy : The scheme under which the Central Excise exemption or refund is provided is popularly known as Rebate of Central Excise. This scheme operates under Section

Motivation consigns to the processes, Motivation consigns to the processes ...

Motivation consigns to the processes that cause people to behave as they do. Motivation take places when require is aroused that the consumer wishes to satisfy. Once a necessitate

Describe about the generic information questions, Describe about the Generi...

Describe about the Generic information questions Generic information questions are divided into two key areas: classification information questions and identification informati

Objective-export credit insurance, Objective After studying this unit, ...

Objective After studying this unit, you should be able to: 1.  Explain the meaning of credit risk; 2.  Describe various types of policies issued by ECGC; 3.  Explain t

Marketing research firm and consumer attributes , Imagine that you have bee...

Imagine that you have been hired by a well-known marketing research firm. Your supervisor has asked you to use the expectancy disconfirmation model (for review refer to page 318 an

Identification and measurement of exchange risks, IDENTIFICATION AND MEASUR...

IDENTIFICATION AND MEASUREMENT OF EXCHANGE RISKS : In foreign trade, you may be either an exporter or an importer. Let us now examine what is the exchange risk to which an exporte

Deemed exports, Deemed Exports: It refers to those transactions in which t...

Deemed Exports: It refers to those transactions in which the goods supplied do not leave the country and the payment for such goods are made in India. The supply of goods shall be

Non response error, Non Response Error: It is almost impossible to obtain d...

Non Response Error: It is almost impossible to obtain data from each and every respondent covered in the same. There are always some respondents who refuse to give any information.

Central excise formalities, CENTRAL EXCISE FORMALITIES : It is a common pr...

CENTRAL EXCISE FORMALITIES : It is a common practice all over the world that the exports are not to bear the burden of indirect taxes. Export goods are either exempted from such t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd