Marine Cargo Open Cover - customer

Marine Cargo Open Cover
Cover Provided
Institute Cargo Clause ‘C’ |
Institute Cargo Clause ‘B’ |
Institute Cargo Clause ‘A’ |
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• Fire & Explosion |
All covers of ICC ‘C’ plus: |
All covers of ICC ‘B’ plus all other losses not otherwise excluded |
Common Clauses |
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• Institute War & Strikes Clause |
The basis of valuation depends on the trade terms. INCOTERMS defines the above three important types.
Duration
Marine cargo is covered on a ‘voyage’ basis. If regular shipments, an ‘Open’ cover can be arranged.
- ‘Location to Location’ can be:
1. Port (of origin) to Port (of destination)
2. Warehouse (of origin) to Warehouse (of destination)
3. Port (of origin) to Warehouse (of destination)
4. Warehouse to Port (of origin)
- Standard is ‘Warehouse to Warehouse’