OCEANMARINECARGOINSURANCECLAUSES.doc

OCEANMARINECARGOINSURANCECLAUSES i.scopeofcover thisinsuranceisclassifiedintothefollowingthreeconditions freefromparticularaverage(f.p.a.),withaverage(w.a.)andall risks.wherethegoodsinsuredhereundersustainlossordamage,the panyshallundertaketoindemnifythereforaccordingtotheinsured conditionspecifiedinthepolicyandtheprovisionsoftheseclauses: 1.freefromparticularaverage(f.p.a) thisinsurancecovers: (1)totalorconstructivetotallossofthewholeconsignmenthereby insuredcausedinthecourseoftransitbynaturalcalamitiesheavy weather,lightning,tsunami,earthquakeandflood.incaseaconstructive totallossisclaimedfor,theinsuredshallabandontothepanythe damagedgoodsandallhisrightsandtitlepertainingthereto.thegoods oneachlightertoorfromtheseagoingvesselshallbedeemedaseparate risk. constructivetotallossreferstothelosswhereanactualtotal lossappearstobeunavoidableorthecosttobeincurredinrecoveringor reconditioningthegoodstogetherwiththeforwardingcosttothe destinationnamedinthepolicywouldexceedtheirvalueonarrival. (2)totalorpartiallosscausedbyaccidentsthecarrying conveyancebeinggrounded,stranded,sunkorincollisionwithfloating iceorotherobjectsasfireorexplosion. (3)partiallossoftheinsuredgoodsattributabletoheavyweather, lightningand/ortsunami,wheretheconveyancehasbeengrounded, stranded,sunkorburnt,irrespectiveofwhethertheeventoreventstook placebeforeoraftersuchaccidents. (4)partialortotallossconsequentonfallingofentirepackageor packagesintoseaduringloading,transhipmentordischarge. (5)reasonablecostincurredbytheinsuredinsalvagingthegoodsor avertingorminimizingalossrecoverableunderthepolicy,providedthat suchcostshallnotexceedthesuminsuredoftheconsignmentsosaved. (6)lossesattributabletodischargeoftheinsuredgoodsataportof distressfollowingaseaperilaswellasspecialchargesarisingfrom loading,warehousingandforwardingofthegoodsatanintermediateport ofcallorrefuge. (7)sacrificeinandcontributiontogeneraaverageandsalvage charges. (8)suchproportionoflossessustainedbytheshipownersasistobe reimbursedbythecargoownerunderthecontractofaffreightmentbothto blamecollisionclause. 2.withaverage(w.a.) asidefromtheriskscoveredunderf.p.a.conditionasabove,this insurancealsocoverspartiallossesoftheinsuredgoodscausedbyheavy weather,lightning,tsunami,earthquakeand/orflood. 3.allrisks asidefromtheriskscoveredunderthef.p.a.andw.a.conditions asabove,thisinsurancealsocoversallrisksoflossofordamagetothe insuredgoodswhetherpartialortotal,arisingfromexternalcausesin thecourseoftransit. ii.exclusions thisinsurancedoesnotcover: 1.lossordamagecausedbytheintentionalactorfaultofthe insured. 2.lossordamagefallingundertheliabilityoftheconsignor. 3.lossordamagearisingfromtheinferiorqualityorshortageofthe insuredgoodspriortotheattachmentofthisinsurance. 4.lossordamagearisingfromnormalloss,inherentviceornatureof theinsuredgoods,lossofmarketand/ordelayintransitandanyexpenses arisingtherefrom. 5.risksandliabilitiescoveredandexcludedbytheoceanmarine cargowarrisksclausesandstrike,riotandcivilmotionclausesof thispany. iii.mencementandterminationofcover 1.warehousetowarehouseclause: thisinsuranceattachesfromthetimethegoodsherebyinsuredleave thewarehouseorplaceofstoragenamedinthepolicyforthemencement ofthetransitandcontinuesinforceintheordinarycourseoftransit includingsea,landandinlandwaterwaytransitsandtransitinlighter untiltheinsuredgoodsaredeliveredtotheconsigneesfinalwarehouse orplaceofstorageatthedestinationnamedinthepolicyortoanyother placeusedbytheinsuredforallocationordistributionofthegoodsor forstorageotherthanintheordinarycourseoftransit.thisinsurance shall,however,belimitedtosixty(60)daysafterpletionof dischargeoftheinsuredgoodsfromtheseagoingvesselatthefinalport ofdischargebeforetheyreachtheabovementionedwarehouseorplaceof storage.ifpriortotheexpiryoftheabovementionedsixty(60)days, theinsuredgoodsaretobeforwardedtoadestinationotherthanthat namedinthepolicy,thisinsuranceshallterminateatthemencementof suchtransit. 2.if,owingtodelay,deviation,forceddischarge,reshipmentor transhipmentbeyondthecontroloftheinsuredoranychangeor terminationofthevoyagearisingfromtheexerciseofalibertygranted totheshipownersunderthecontractofaffreightment,theinsuredgoods arriveataportorplaceotherthanthatnamedinthepolicy,subjectto immediatenoticebeinggiventothepanybytheinsuredandan additionalpremiumbeingpaid,ifrequired,thisinsuranceshallremainin forceandshallterminateashereunder: (1)iftheinsuredgoodsaresoldatportorplacenotnamedinthe policy,thisinsuranceshallterminateondeliveryofthegoodssold,but innoeventshallthisinsuranceextendbeyondsixty(60)daysafter pletionofdischargeoftheinsuredgoodsfromthecarryingvesselat suchportorplace. (2)iftheinsuredgoodsaretobeforwardedtothefinaldestination namedinthepolicyoranyotherdestination,thisinsuranceshall terminateinaccordancewithsection1above. iv.dutyoftheinsured itisthedutyoftheinsuredtoattendtoallmattersasspecified hereunder,failingwhichthepanyreservestherighttorejecthis claimforanylossifandwhensuchfailureprejudicetherightsofthe pany: 1.theinsuredshalltakedeliveryoftheinsuredgoodsingoodtime he eventofanydamagetothegoods,theinsuredshallimmediatelyapplyfor surveytothesurveyand/orsettlingagentstipulatedinthepolicy.if theinsuredgoodsarefoundshortinentirepackageorpackagesortoshow apparenttracesofdamage,theinsuredshallobtainfromthecarrier, baileeorotherrelevantauthorities(customsandportauthoritiesetc.) certificateoflossordamageand/orshortlandedmemo.shouldthecarrier, baileeortheotherrelevantauthoritiesberesponsibleforsuchshortage ordamage,theinsuredshalllodgeaclaimwiththeminwritingand,if necessary,obtaintheirconfirmationofanextensionofthetimelimitof validityofsuchclaim. 2.theinsuredshall,andthepanymayalso,takereaconable measuresimmediatelyinsalvagingthegoodsorpreventionorminimizinga lossordamagethereto.themeasuressotakenbytheinsuredorbythe panyshallnotbeconsideredrespectively,asawaiverofabandonment hereunder,orasanacceptancethereof. 3.incaseofachangeofvoyageoranyomissionorerrorinthe descriptionoftheinterest,thenameofthevesselorvoyage,this insuranceshallremaininforceonlyuponpromptnoticetothispany whentheinsuredbeesawareofthesameandpaymentofanadditional premiumifrequired. 4.thefollowingdocumentsshouldacpanyanyclaimhereundermade againstthispany: originalpolicy,billoflading.invoice,packinglist,tallysheet, weightmemo,certificateoflossordamageand/orshortlandmemo,survey report,statementofclaim. ifanythirdpartyisinvolved,documentsrelativetopursuingof recoveryfromsuchpartyshouldalsobeincluded. 5.immediatenoticeshouldbegiventothepanywhenthecargo ownersactualresponsibilityunderthecontractofaffreightmentbothto blamecollisionclausebeesknown. v.thetimeofvalidityofaclaim thetimeofvalidityofaclaimunderthisinsuranceshallnotexceed aperiodoftwoyearscountingfromthetimeofpletionofdischargeof theinsuredgoodsfromtheseagoingvesselatthefinalportofdischarge. marinecargotransportationinsurancepolicy invoiceno.policyno. thispolicyofinsurancewitnessesthattheinsurancepany (hereinaftercalledthepany),attherequestof (hereinaftercalledtheinsured)andinconsiderationoftheagreed premiumbeingpaidtothepanybytheinsured,undertakestoi