|
|
 |
SHIPPING DEPARTMENT
Logistics Management
Cargo Insurance
Marine insurance, cargo insurance, import-export insurance, insurance coverage, insurance documents, insurance terms, insurance claims, credit risk insurance, credit risks.
insurance policy, insurance cover note, open insurance policy, blanket insurance policy, floating insurance policy, specific insurance policy, voyage insurance policy, strikes riots civil commotions.
inherent vice, jettison, piracy, all risks, A.R., with average, W.A., free of particular average, F.P.A., insurance agency, insurance agents, insurance agencies, insurance certificates, insurance policies.
insurance endorsements, insurance premiums, insurance forms, Institute Cargo Clauses, Institute War Clauses, Institute Strikes Clauses, insurance application-instructions, insurance clauses, contingency insurance.
marine surveyors, adjusters, insurance adjusters, survey certificates, loss certificates, subrogation form, subrogation, particular average claims, general average claims, warehouse clause.
BL, B/L, bill of lading, customs declaration, shipping instructions, ocean bill of lading, marine bill of lading, shipping booking, transport documents, shipping marks.
Waybills, master air waybill, MAWB, HAWB, house air waybills, road waybills, rail waybills, post receipts, courier's receipts, forwarder waybill, freight forwarder's waybill, clean air waybill.
foul air waybill, unclean air waybill, dirty air waybill, claused air waybill, road consignment notes, rail consignment notes, postal receipt, parcel post receipt, certificate of posting, expedited delivery services.
postal shipments, courier shipments, TEU, twenty-foot equivalent unit, knots, cellular container ships, multimodal transport, combined transport bill of lading, through bill of lading, CBM, cubic measurements.
Containers and shipping information such as container dimensions, container capacity, container rating, tare mass, payloads, container tare mass, container payload, general purpose containers, dry cargo containers.
reefers, refrigerated containers, tare weight, tares, container markings, container classifications, half height containers, TEU, twenty-foot equivalent unit, knots, cellular container ships, CBM, cubic measurements.
container services, standard containers, hicube, high cube containers, cargo cubes, global shipping, import-export shipping, logistics, logistics management, logistics supports, shipping space, shipping order, S/O.
shipping permits, shipping notes, dock receipts, master ships, mother ships, feeder vessels, transhipment, transshipment, transit shipment, dead freight, seaports, ports.
freight forwarders, consolidators, freight consolidators, customs brokers, customs forwarders, brokers, customhouse brokers, customs house brokers, voyage, flight.
groupage operators, shipping operators, shipping firms, shipping company, air shipping, ocean shipping, carriers, freight company, transport company, ETA, ETD, ETS.
transportation, transports, ocean shipping company, freight containers, couriers, airlines, tariffs, custom tariffs, shipping dangerous goods, shipping schedules.
air containers, ocean containers, shipping containers, container load, LCL, full container load, FCL, marine insurance, cargo insurance, import-export insurance.
NVOCC, nonvessel operating common carriers, NVO, nonvessel owner carriers, nonvessel owning carriers, ocean freight consolidator, steamship.
Terminology in the Institute Cargo Clauses
- Proximately caused by
- In many circumstances, it is the chain of causes that lead to the loss or damage to the subject matter insured. The loss or damage can be due to the actual or effective cause known as proximate cause.
Case Sample:
Delayed Delivery and Insurance
A consignment of commemorative items to celebrate the 50th anniversary of the company was insured against Institute Cargo Clauses (A) and arrived after the anniversary date in good condition.
The goods were in a vessel that collided with ice and took refuge in an intermediate port for repair. Due to the unavailability of a vessel for the on-carriage of goods and poor weather, the goods remained in the intermediate port for some time.
The goods finally arrived at the company with no physical loss or damage, but the company suffered loss proximately (i.e., actually or effectively) caused by the delay in delivery
|
Reasonably attributable to
Most of the risks under the Clause (B) and Clause (C) have been changed from the "proximately caused by" to "reasonably attributable to".
Malicious damage
The exclusion in the deliberate damage to or deliberate destruction of the property insured or any part thereof by the wrongful act of any person(s).
Delay
Although the delay was caused by a risk insured against (except expenses payable under general average), the assured cannot claim the loss or damage due to the delay.
In the above Case Sample: Delayed Delivery and Insurance the company cannot take action against the insurer, but it may take action against the carrier for the delay in delivery.
Willful misconduct of the assured
If the loss or damage is the result of negligence or actions taken by the assured, he/she cannot claim such loss or damage.
War
The exclusions of war, civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power (for the purpose of this clause 'power' includes any authority maintaining naval, military or air forces in association with a power); capture, arrest, restraint, detainment (piracy excepted), and the consequences thereof or any attempt thereat; derelict mines, torpedoes, bombs, or other derelict weapons of war. This clause basically replaces the old F.C.&S. Clause (Free of Capture and Seizure Clause).
Strikes, riots and civil commotions, includes
terrorists or any persons acting from a political motive
The insurance does not cover loss, damage or expense caused by or resulting from: strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions; strikes, lock-outs, labour disturbances, riots or civil commotions; terrorists or any persons acting from a political motive. This clause is similar to the old F.S.R.&C.C. Clause (Free of Strikes, Riots and Civil Commotions Clause) except the new clauses include an additional exclusion of terrorists or any persons acting from a political motive.
Use of any atomic or nuclear weapon
The exclusion in the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter. This exclusion also appeared in the Institute War Clauses.
Ordinary leakage, ordinary loss in weight or volume,
or ordinary wear and tear of the subject matter
The ordinary leakage or ordinary loss in weight or volume is a form of inherent vice. The natural processes of evaporation (liquid turns to gas) and sublimation (solid turns to gas) may be involved. For example, alcohol evaporates and the mothball (naphthalene ball) sublimates, as a result alcohol and mothballs may lose weight or volume.
The ordinary wear and tear of the subject matter is often linked to the insufficiency or unsuitability of packing where the cargo may move and 'rub' against each other or against the container during the sea voyage because of high wind and waves. Friction (from 'rubbing') may result in wear and tear to the cargo.
Insufficiency or unsuitability of packing
of the subject matter insured
The packing used here includes stowage in a container but only when such stowage is completed by the assured or his/her agent before the insurance coverage takes effect. This clause reminds the shipper to be careful in the preparation of export packs and the loading or stuffing of the container.
The assured privy to the unseaworthiness of vessel or craft
and/or unfitness of vessel, craft, conveyance, or container
at the time of loading
The word "privy" means having knowledge of. If the shipper knows that the vessel, craft, conveyance, or container is unseaworthy or unfit but still uses it, then any loss, damage or expense arising from such use is excluded, that is, the insurer is not liable to pay for the loss, damage or expense. This clause encourages the shipper to be careful in his/her selection of the vessel, craft and conveyance, and emphasizes the importance of inspecting the container, particularly when the shipper will be loading the container himself/herself.
Insolvency or financial default of the
owners or operators of the vessel
This clause encourages the shipper to be cautious in his/her use of the carrier.
Export Credit Risk Insurance
Exports not only face the risks of physical loss or damage, they may also face the risks of non-payment due to buyer's insolvency or default, government blockage of currency transfer, and other risks, known as credit risks. There are specialized organizations, often government owned, which insure credit risks. Credit risk insurance usually is applied in overseas projects and the coverage may run for a number of years.
In some countries, credit risk insurance may cover open account sales, but is subject to credit terms such as the destination country, the terms of sales, and the amount involved. Some insurers may require that the products for export have a minimum percentage of domestic content (51% or more usually) to qualify for coverage.
|
|
