Marine Cargo Insurance

Transcription

1 Marine argo The commercial wheel ontract relations Seller s bank uyer s bank Policy Sender arrier Money April 25, 2008 Svante O. Johansson argo Insurer Seller Shipper uyer Receiver oods /L Subcarrier 1 2 Risk assessement in argo Sales contract Passing of Risk under this contract Various options for the cargo owner ontract of carriage Different modes Different carriers Risk of loss What argo? What arriage? 3 Performance under the sale contract INOTERMS 2000 The Seller must A1 oods in conformity A2 Licences and formalities A3 ontract of carriage and A4 Delivery A5 Transfer of Risk A6 Division of costs A7 Notice to the buyer A8 Proof of delivery and other documents A9 hecking, packing and marking A10 Other obligations The uyer must 1 Pay the price 2 Licences and formalities 3 ontract of carriage and 4 Take delivery 5 Transfer of Risk 6 Division of costs 7 Notice to the seller 8 Proof of delivery and other documents 9 Inspection of goods 10 Other obligations 4 Simultaneously Performance and Incoterms Eterms Ex works Fterms FA FAS FO terms FR IF PT IP Dterms DES DEQ DAF DD The influence from London The English clauses are known all over the world sed in export trade Norwegian plan not that commonly used sed in import trade DDP 5 6 1

2 The S.. Policy form S.. Sanctioned by Members of Lloyd s 1779 Annexed to the MIA 1906 An antiquated document Additional clauses to S.. All risks W.A. (With average) F.P.A (Free from particular average) The English lauses The call for revision NTAD in the 60ies Response from the market MAR 91 form No standalone A binder to the clauses I A I I nder revision 7 8 The three sets of conditions and three levels of cover Three sets Marine Perils War Perils Strike Perils Three levels of cover Aclauses All risks clauses Extended transport accidents clauses Transport accidents Losses covered Finnish legislation Finland Act 1994 eneral contract for cargo 2003 eneral argo conditions 2003 asic cover Extended cover All risks 9 10 Norwegian legislation Norway ontract Act 1989 Mandatory as regards national transits Not mandatory for international transits Norwegian argo lauses (argo Plan) 1995 (version 2004) Alauses lauses lauses The lauses follow the Act in many instances, even though the transit might be of an international character Swedish legislation Sweden ontract Act 2006 Swedish Marine Plan 2006 argo conditions 2006 asic cover Extended cover All risks

3 Danish legislation Denmark ontract Act 1930 (2006) Danish Marine onvention 1934 The first one already 1850 Danish conditions 1989 Restricted Extended All risks Administration of cargo Facultative A policy for every single consignment Open cover Declaration of shipments with value Floating policy Premium is calculated on estimated total value of goods during the period Set off according to yearly turnover The structure of the clauses Perils covered Exclusions Duration laims Other provisions Norway is different The Norwegian plan also states the ancilliary obligation of the assured Duty of disclosure Safety regulation Obligations in connection with a casualty All risks Not at all All risks Something must have happened Exclusions Named perils Exclusions Risks overed / onditions Fire and explosion Stranding and grounding, sunk or capsized Overturning or derailment of land conveyance ollision or contact with external Discharge of cargo at a port of distress Earthquake, volcanic eruption or lightning K DK SF 1 N 2 S Four categories eneral exclusion nseaworthiness and unfitness War Strikes This counts for English clauses The Nordic countries have various patterns Acosts, salvage Loss Jettisson /washing overboard / Entry of (sea) water into container Total loss of package whilst laoding or discharge

4 Excluded perils (apart from war and strike) Exclusion / ondition Wilful missconduct of the Assured/Third party damages Ordinary leakage, loss or wear and tear Insufficiency or unsutability of packing nseaworthiness or unfitness Weapon of war duclear fission Radioactivity Liability for damages Inherent vice Non maintenance of refrigeration Indirect losses arrier s insolvency Delay K 4.1/ DK K SF N 49 FAL S 2.1/ The link from risk to damage ausal connection Damage caused by risk covered during period of Two or more risk have caused loss and one is not covered Two alternatives The manifest cause decides Pro rata apportionment on different risks The Norwegian solution Pro rata over the various risks If nuclear energy or chemical or the like has contributed 20 War and strikes exclusions War cover Inside or outside normal cover? 1898 left outside if not agreed Strike cover Duration of cover The risk attaches When the Transport starts It remains in force during ordinary transit and Terminates Delivery to the consignee At delivery to warehouse other than storage during transit for allocation and distribution The risk attaches Place of storage Warehouse Transport conveyance Swedish and Norwegian Finnish Risk passes and warehousetowarehouse cover ircumstances uyers Ex works or fob terms Delay Risk passes when? No cover during the time the goods are ready for the buyer and the time the carrier takes care of them or loading them. Danish and English

5 Risk cover: seller and buyer When the risk terminates after the sea leg 60 days 30 days after discharge at destination The goods is ready Agreed delivery time Actual delivery Port of Discharge ustom Warehouse Transport to Final warehouse Time axis No over 14 first para. ut second para. uyer s late Disposal or Distribution Risk passes Warehouse at request over attaches