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Insurance


Often issued for an incorrect amount (CIF, CIP + 10% is usually called for) or different currency.

Does not cover all the risks required.

The insurance policy or certificate is dated later than the date of the transport document without stating that the cover is effective from the date of shipment or despatch.

It is not endorsed.

It does not state where claims are payable when it is required by the L/C.

It does not cover transhipment when it is being effected.





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