Scope of Cover
This insurance is classified into two conditions-Overland Transportation Risks and Overland Transportation All Risks. Where the goods insured hereunder sustain loss or damage. The company shall undertake to indemnify therefor according to the Insured condition specified in the Policy and provisions of these Clauses:
Overland Transportation Risks
This insurance covers:
Total or partial loss of or damage to the insured goods caused in the course of transportation by natural calamities-windstorm, lightning, earthquake, flood etc., or by accidents collision, overturning or derailment of the conveyance, including grounding, stranding, sinking or collision of the craft in case crafts are employed and/or collapse of tunnel, landslide, fire, explosion etc
Reasonable cost incurred by the Insured in salvaging the goods or averting or minimizing a loss recoverable under the Policy, provided that such cost shall not exceed the sum Insured of the consignment so saved.
Overland Transportation All Risks
Aside from the risks covered under the Overland Transportation Risks as above, this insurance also covers all risks of loss of or damage to insured goods whether partial or total, arising from external causes in the course of transit.
Exclusions
This insurance does not cover:
Loss or damage caused by the intentional act or fault of the Insured.
Loss or damage falling under the liability of the consignor.
Loss or damage arising from the quality or shortage of the insured goods prior to the attachment of this insurance.
Loss or damage arising from normal loss, inherent vice or nature of the insured good, loss of market and/or delay in transit and any expenses arising therefrom.\
Risks and liabilities covered and excluded by the Overland Transportation Cargo War Risks and Strike, Riot and Civil Commotion Clauses of this Company.
Commencement and Termination of Cover
Warehouse to warehouse clause:
This insurance attaches from the time the goods hereby insured leave the warehouse of place of storage named in the Policy for the commencement of the transit and continues in force in the ordinary course of transit including incidental transit by craft until the insured goods are delivered to the Consignee’s final Warehouse or place of storage at the destination named in the Policy or to any other place used by the Insured for allocation or distribution of the goods. This insurance shall, however, be limited to sixty(60)days upon arrival of the insured goods at the final station of discharge before the insured goods reach the Consignee’s warehouse.
Duty of the Insured
It is the duty of the Insured to attend to all matters as specified hereunder, failing which the company reserves the right to reject his claim for any loss if and when such failure prejudice the rights of the Company:
The Insured shall take delivery of the insured goods in good time upon their arrival at the port of destination named in the Policy. In the event of any damage to the goods, the Insured shall immediately apply for survey to the Survey and/or Settling Agent stipulated in the Policy. If the insured goods are found short in entire package or packages or to show apparent traces of damage, the Insured shall obtain from the carrier, bailee or other relevent authorities be responsible for such shortage or damage, the Insured shall lodge a claim with t hem in writing.
The Insured shall, and the Company may also, take reasonable measures immediately in salvaging the goods or preventing or minimizing a loss or damage thereto.
The following documents should accompany any claim hereunder made against this company:
Original Policy, Consignment Note, Invoice, Packing List, Weight Memo, Certificate of Loss or Damage and/or Short Delivery, Survey Report, Statement of Claim.
If any third party is involved, documents relative to pursuing of recovery from such party should also be included.
The Time of Validity of a Claim
The time of validity of a claim under this insurance shall not exceed a period of two years countingfromthe time of completion of discharge of the insured goods from Train/Truck at the Station of the final destination. |
