Cargo
Marine cargo insurance is the basic way to protect the value of goods transported from physical damage, theft or general average. Insurance that generally protects shipments from loss whilst in transit. The cost you pay to insure the cargo (called the insurance premium) is generally a small percentage of the cargo total value.
Ensuring the safety of cargo during transportation is one of the main tasks of traders. On INCOTERMS delivery basis there is an obligation to insure cargo – either by Seller or Buyer. One of our specializations is cargo for commodity traders or other types of cargoes – agri, coal, fertilizers, oil, metals, general cargoes etc.
Basic cover and clauses:
- Open Cover or single shipment certificates
- Institute Cargo Clauses A “All risks”
- GAFTA (Grain and Feed Trade Association) terms
- FOSFA (Federation of Oils, Seeds and Fats Associations) terms
- Bulk Oil
- Coal Clause
- Frozen Meet
- WSRCC - War, Strikes Riots & Civil Commotions: - Institute strikes clauses cargo 2009 - Institute war clauses cargo 2009
- HSSC - Heating Sweating and Spontaneous Combustion
- Rejection cover
- Contingency cover (Buyer’s/Seller’s Interest)
- Shortage/FOG cover
Advantages:
- General terms and conditions for all clients. Small or big cargo turnover – doesn’t matter
- Personal claims managers / Fast claim handling
- Limited set of docs for shortage claims for all clients
- Quick vessel’s check before chartering for defects and detentions
- Old vessels condition survey before loading at our expense
