实务-练习题与答案

1、Chapter 14一. Chapter Summary1. Perils of the sea in elude n atural calamities and fortuitous accide nts. Extra neous risks are risks other than perils of the sea, including general extraneous risks and special extraneous risks.2. Ocean average covers total loss and partial loss. Total loss includes

2、actual total loss and constructive total loss while partial loss includes particular average and general average. Particular average is the accide ntal damage to part of the cargo and is levied on a group of cargo owners and not all of the cargo own ers. A gen eral average is a loss caused by or dir

3、ectly con seque ntial on a gen eral average act which must be extraord in ary, volun tarily and reas on ably made in time of peril and successful. Gen eral average requires all parties concerned in the ven ture to con tribute to compe nsate the losses caused to those whose cargo has bee n lost and d

4、amaged.3. Sue and Labor expenses are extraordinary expenditures made in time of peril to avert or mini mize any loss of or damage to the subject matter in sured. Salvage charges mean charges recoverable by salvor in depe nden tly of con tract.4. Extra neous losses are losses resulted from risks not

5、in cide ntal to tran sport by sea, in cludi ng losses caused by gen eral extra neous risks and special risks.5. The Ocea n Marine Cargo Clause of the PICC provides two types of in sura nee covers: basic cover and additi onal cover. Basic cover in cludes FPA, WPA, and All Risks. Additi onal cover in

6、cludes gen eral additi onal covers and special additi onal covers.6. Basically FPA eliminates coverage for partial losses resulted from natural calamities while WPA covers such losses. All Risks provides the widest in sura nee cover.7. W/W clause is a marine cargo in sura nee policy provisi on that

7、exte nds the protect ion from the warehouse at which the shipme nt origi nates to the one at which it term in ates.8. Gen eral additi onal risks cover the damage or losses aris ing from gen eral additi onal reas ons,including Risk of Theft, Pilferage and Non-Delivery (TPND), Risks of Fresh Water and

8、/or Rain Damage (FWRD), Risks of Clash and Breakage, Risks of Leakage, Risks of Shortage, Risks of In termixture and Con tam in ati on, Risks of Taint of Odour, Risks of Sear and Heat ing, Risks of Breakage of Pack ing and Hook Damage.9. Special additional risks cover the damage or losses arising fr

9、om special additional reasons such as political events, military affairs, national policies and acts, and administrative measures. The special additional risks include War Risk, Strike Risks, Failure to Delivery Risks, Import Duty Risks, On Deck Risks, Rejections Risks, Aflatoxin Risks, Fire Risks E

10、xtension Clause (FREC).10. The new ICC provides five clauses, namely: Institute Cargo Clause A or ICC(A), Institute Cargo Clause B or ICC(B), Institute Cargo C or ICC(C); Institute War Clause (Cargo) and In stitute Strikes Clause (Cargo). The widest in sura nee cover is provided un der ICC(A), a mor

11、e restrictive cover is un der ICC(C).11. In FOB, CFR or FCA, CPT con tracts, the in sura nee clause may simply be stipulated as:” In sura nee: To be Covered by the Buyer. ” In CIF or CIP con tracts, the clause should clearly state the party who takes out i nsura nee, the risks covered, the in sura n

12、ee amount as well as the in sura nee clauses adopted.12. When export transaction is made on CIF and CIP basis, the Chinese exporter shall arrange specific in sura nee policy. It is customary to in sure for CIF or CIP value of the shipme nt, plus 10% of CIF value.13. When import transaction is made o

13、n FOB, CFR, FCA and CPT basis, the Chinese importer shall take out insuranee. In such case, a marine cargo open policy is often underwritten.14. Claim procedure involves applying for survey, claiming for damages, taking proper measures and prepari ng docume nts for claim.二. Review QuestionsA. Briefl

14、y define the concepts1. actual total loss2. con structive total loss3. particular average4. gen eral average5. gen eral act6. sue and labor expenses7. W/W clause8. ope n policyB. Questions and problems1 What are the three basic in sura nee in CIC? What are the differe nces betwee n them/2 What are t

15、he differe nces betwee n gen eral average and particular average?3 In the eve nt of loss or damage for which the in surer may be liable, what should the in sured or their age nts do to claim for losses?C. Multiple-choice questions1. As a type of perils of the sea, tsun ami is A. a n atural calamityB

16、. a fortuitous accide ntC. an additional riskD. a general extraneous risk2. As a type of perils of the sea, being stra nded is A. a n atural calamityB. a fortuitous accide ntC. an additional riskD. a general extraneous risk3. In ocean transit, sacrifices resulted from the jettisoning of some cargoes

17、 on a ship to keep the ship afloat duri ng a storm are A. a gen eral averageB. a particular averageC. a total actual lossD. a constructive total loss4. In ocea n tran sit, whe n the subject matter in sured is irretrievably deprived thereof, there isA. a constructive total lossB. an actual total loss

18、C. a general averageD. a particular average5. a ocean transit, the subject matter insured a precision instrument amounting to US 1000,000 was badly damaged. The cost of recovering it would be US 120,000. In such case, the loss was _A. a constructive total lossB. an actual total lossC. a partial loss

19、D. a total loss6. When there is a general average, the party on whom it falls is entitled to a ratable contribution from the other parties in terested. Such a con tributi on is called _A. a total loss contributionB. a partial total lossC. a particular average contributionD. a general average contrib

20、ution7. The losses caused by theft in ocean transit are recoverable if the goods had been insured againstA. FAPB. WPAC. ALL RISKSD. any of the general additional insurance in the ICC8. Which of the following risks is/are covered by ALL RISKS?A. WarB. Strike and delayC. TPNDD. Aflatoxin and on deck9.

21、 Which of the following does not cover partial loss or damage caused by natural calamities?A. WAB. FPAC. ALL RISKSD. ICC(A)10. Which of the following is NOT an exclusion of ICC(A)?A. Civil warB. Ordinary leakageC. Unsuitable packingD. Wrongful act of any person than other the assured11. The widest i

22、n sura nee coverage in ICC is _A. ICC(A)B. ICC(B)C. ICC(C)D. ICC(D)12. If the in sured amount is n ot clearly stated in CIF con tract, it is customary to in sure for _A. 100% CIF priceB. 110% CIF priceC. 115% CIF priceD. 120% CIF priceD. True or false questions1. The losses shall be admitted as gene

23、ral average if they are a direct consequence of a general average act.2. General average and salvage charges are covered in both FPA and WA.3. Warehouse to warehouse clause is a shipment clause meaning that the carrier is responsible for shipping the goods from the seller 'swarehouse to the buye

24、r'swarehouse.4. Both general additional risks and special additional risks in the Ocean Marine Cargo Clause of the PICC can be covered independently.5. ICC(C) does not cover risks of war, strike, but covers loss of or damage to cargo caused by earthquake.6. The exclusions of ICC(C) are the same

25、as that of ICC (B).7. ICC (A) is close to All Risks of the Ocean Marine Cargo Clause of the PICC in terms of scope of coverage.8.Although All Risks in the Ocean Marine Cargo Clause of the PICC does nor cover special additional risks, it covers general additional risks.E. Calculation1. Company A expo

26、rted frozen food on CIF terms. The total contract amount was US 10,000 and insurance was effected for 110% CIF value. The insurance premium rate was 0.8%. How much was the insurance premium?2. Company A sold a batch of goods. The quotation was US235 per M/T CIF Liverpool. Insurance was effected for

27、110% of the invoice amount against All Risks and War Risks, the total premium rate of which was 0.7%. The importer requested A to make a new quotati on on CFR terms. How much should A quote on con diti on that its foreig n excha nge in come was not impacted.3. The original export price was US $ 19,8

28、00 CFR Singapore. Now the importer asked for a new quotati on on CIF and in sura nee was covered for 120% CIF price aga inst All Risks. Suppose the premium rate of All Risks was 1%. How much was the CIF price?4. The original quotation was US $ 1,250 per M/T CIF New York. Now the importer intended to

29、 arrange in sura nce by itself and asked for a new quotati on on CIF terms. The origi nal quotati onin cludes in sura nce of WPA and Risk of fresh water an d/or rain damage, the premium rate of which was 2.4% and 0.1% respectively and in sura nce was effected for 110% CIF price. Calculate CFR price.

30、F. Case study1. A vessel carrying a bulk good of ore was stranded. Some goods were damaged. In an attempt to get free, some ore were jettis on ed, both the engine and the ship were damaged, and a salvage vessel was employed. The ship was refloated in a days and put into a port of refuge for repair.

31、The damage, charges were as follows:1) Goods damaged because of stranding: US $ 10,000.2) Jettisoned cargo: US $ 20,000.3) Service of salvage vessel: US $ 65,000.4) Refugee and other charge: US $ 35,000.Which of the above damages or charges shall be allowed as gen eral average? Why?2. Compa ny A exp

32、orted a batch of chemical raw materials on CIF. In sura nce had bee n effected aga inst FPA for 110% of the in voice value. After the goods being loaded at the begi nning of May, the vessel departed. On May 10, the vessel was again stranded and another part of the goods were damaged. The losses were

33、:1) Losses caused by heavy weather: US $ 30,000.2) Losses caused by stranding: US $ 20,000.Could the in sured claim for all the losses? Why?三、Answers to Review QuestionsA. Briefly define the concepts1. Actual total loss: Where the subject matter in sured is destroyed, or so damaged as to cease to be

34、 a thing of the kind in sured, or where the assured is irretrievably deprived thereof, there is an actual total loss.2. Con structive total loss: In in sura nce, not an actual total loss ” but a situati on where 1) the actual total loss appears un avoidable (as in case of perishable goods), or 2) a

35、partial loss has occurred to an extent that the property is beyond economical repair (cost of restoring it exceeds its in sured value). I n con structive total loss cases, the in sured may (if terms of the in sura nce policy permit) aba ndon the property by givi ng a notice of aba ndonment” to the i

36、n surer who the n assumes all rights to the property.3. Particular average: If the average (damage) is accidently occasioned by some perils insured against, and not by the deliberate act of the common benefit, that loss must be sustained exclusively by the person upon whom the damage falls and is te

37、rmed a particular average.4. General average: A general average is a loss caused by or directly consequential on a general average act. It includes a general average expenditure as well as a general average sacrifice.5. General act: There is a general average act where any extraordinary sacrifice or

38、 expenditure is voluntarily and reasonably made or incurred in time of peril for the purpose of preserving the property imperiled in the common adventure.6. Sue and labor expenses: Extraordinary expenditures made in time of peril to avert or minimize any loss of or damage to the subject matter insur

39、ed.7. W/W clause: The clause in the Insurance Policy that defines when coverage commences and terminates, which means insurance coverage of risks to a shipment of goods from the time the goods leave the warehouse for commencement of transit and continue during ordinary course of transit until delive

40、red to final warehouse at destination, or until the expiration of 60 days as of the moment of the insured goods are unloaded (if the shipment fails to reach the aforesaid warehouse), but with exception that the goods be transported to other place of destination not indicated on the insurance documen

41、ts.8. Open policy: Also called open cover, in the context of insurance, it is an agreement between the insured and the insurer to insure all goods in transit within the agreement.B. Questions and problems1. The three basic insurance in CIC are FPA (free from particular average), WPA (with particular

42、 average) and ALL RISKS. The differences between them are: 1) WPA differs from FPA in that aside from the risks covered under FPA. condition, WPA also covers partial losses of the insured goods caused by heavy weather, lighting, tsunami, earthquake and/or flood; 2)ALL RISKS differs from FPA and WPA

43、in that aside from the risks covered under the FPA. and WA conditions, this insurance covers all risks of loss of or damage to the insured goods whether partial or total, arising from general extraneous risks in the course of transit.2. A general average is a loss caused by or directly consequential

44、 on a general average act which consists of any sacrifice or expenditure made intentionally and reasonably to preserve property involved in a sea voyage. The party on whom the general average falls is entitled to a ratable contribution from the other parties interested. By contrast, particular avera

45、ge relates purely to marine insurance. It consists of any partial loss that is not a general-average loss (for example, the damage of cargo by seawater). It is therefore borne purely the person suffering it and is frequently covered by a policy only in limited circumstances.3. In the event of loss o

46、r damage for which the insurer may be liable, the insured or their agents should following steps to claim for losses:1) Apply for survey. In the event of any damage to the goods, the insured shall immediately apply for survey to the Surveyor stipulated in the policy.2) Claim for damages on the carri

47、er and/or other parties concerned: If the carrier and the other relevant authorities (Customs and Port Authorities etc.) are responsible for such damages, the insured shall lodge a claim with them in writing and, if necessary, obtain their confirmation of an extension of the time limit of validity o

48、f such claim. In addition, the insured shall obtain from the carrier or other relevant authorities certificate of loss or damage.3) Take proper measures: The insured shall also, take proper measures immediately in salvaging the goods or preventing or minimizing a loss or damage thereto.4) Prepare documents for claim: To enable claims to be dealt with promptly, the insured or their agents should submit all available supportin