Insurance policy (cargo policy)
An insurance policy (cargo policy) is a document confirming that a cargo insurance contract has been concluded for a shipment. It sets out the coverage terms, the sum insured and the clauses; insurance costs may be included in the customs value.
A policy is issued for a specific shipment or as an open (blanket) policy covering a stream of shipments. Under certain Incoterms (CIF, CIP) the seller arranges the insurance.
We will help you insure the cargo and correctly account for the insurance in the payment calculation.
Related terms
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