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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.
FOREIGN EXCHANGE REGULATION CONCERNING EXPORTS : Export of goods is the most important foreign exchange earner for the country and the law provides that foreign exchange in paymen
I have to do a marketing research of a customize cellphones company, for my marketing class, and I don''t have any idea of how to start. Could you help me.
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POST-SHIPMENT FINANCE : It may be defined as "any loan or advance granted or any other credit provided by a bank to an exporter of goods from India from the date of extending the
OBJECTIVES After studying this Unit, you should be able to: 1. Explain stages involved in export cargo shipment 2. Discuss the policy for Central Excise Rebate on expor
Question: The Belle Mare water park was set up in 1999, with the objective of providing leisure facilities to Mauritians and tourists. The park did not enjoy the expected succ
Strike Perils : In marine insurance, strike perils mean events which lead to loss or damage to cargo caused by: i) Strikes, lock-out workmen or persons taking part in labour di
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
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