Insurancecontractisessentiallyacontractbetweentheinsurerandtheinsured.
TounitethefreightforwardingindustryworldwideisoneofFI’smainobjectives.
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Adeliveryorderisissuedbythecarrierorhisagenttoenabletheconsigneeorhisagenttotakedeliveryofthecargofromthevessel.
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FOBmeansthatthesellerdeliverswhenthespasstheship’srailatthenamedportofdischarge.
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TheCFRtermcanbeusedonlyforseaandinlandwaterwaytransport.
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Mate’sreceiptisissuedbytheforwardertotheshipper.
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Loadingandunloadingcosts,bunkers,storesandcrewcostsareallfixedcosts.
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ICC(C)doesnotcoverrisksofwar,strike,butcoverslossofordamagetocargocausedbyearthquakeorsinking.
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TheUCP600publishedbytheInternationalChamberofCommercecameintoforceonJanuary1st,2007.
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Timecharteringmeansthatthechartererhiresthevesselforaperiodoftimewithoutcrew.
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GeneralaverageandsalvagechargesarecoveredbothinFPAandWPAcoverage.