Insuance cover against possible loss or damae to specified merchandise during shipment is of paramount importance.Whether the responsiblity for shipment insurance provision is the buyer's or the seller's is decided according to the details of the particular export sales contract.
*Insurance Policy
An Insurance Plicy is the evidence that insurance has been purchased.This document is normally issued to the party who buys the insurance.
A typical insurance plicy should include the following data:
1.Name,address and signature of the insurer
2.Name of the assured
3.The endorsement of the assured
4.A description of the risks covered and the insured time
5.A description of the consignment
6.the sum or sums insured
7.Premium
*Insurance Certificate
An Insurance Certificate is a simplified Insurance Policy. It usually contains similar data as an Insurance Policy,but it does not include the detailed rights and obligations of both sides at the back of the document.
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Thanks for sharing the detail about the insurance policy document. It will help me out to verify my policy that it contains all the points stated above. I have bookmarked your post also for further references.
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