Project Ⅱ Task 6 Insurance Document

Section 2 IV. Insurance Document Insurance document such as an insurance certificate, insurance policy or a declaration under an open cover, is issued by an insurance company, covering the goods being shipped against specified risks during the whole or part of the journey between the seller and the buyer. It is a legal document which can be used as evidence in legal activities. Documentary credit transactions indicating CIF or CIP terms should list an insurance document in their required documents. According to UCP 600, the parties involved should pay attention to the following: First, the insurance document must be issued and signed by an insurance company, an underwriter or their agents or their proxies.

Section 2 IV. Insurance Document Second, all originals of the insurance document must be presented. Third, the insurance document must be of the right type, for example, insurance policy, insurance certificate, declaration of insurance or cover note. An insurance policy is acceptable in lieu of an insurance certificate or a declaration under an open cover. However, cover notes will not be accepted by banks.cover note Forth, the date of the insurance document must be no later than the date of shipment, unless it appears from the insurance document that the cover is effective from a date not later than the date of shipment.

Section 2 IV. Insurance Document Fifth, it must indicate the amount of insurance coverage and should be consistent with the currency of the credit. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least 110% of the CIF or CIP value of the goods. Brainstorm: Please find more information about insurance policy, insurance certificate, declaration of insurance and cover note online, and discuss what differences are between them? Finish the task in groups.

Section 2 IV. Insurance Document 中 国 人 民 保 险 公 司 广州分公司 The People’s Insurance Company of China Guangzhou Branch 总公司设于北京 一九四九年创立 Head Office Beijing Established in 1949 货物运输保险单 CARGO TRANSPORTATION INSURANCE POLICY 发票号 (INVOICE NO.) INV0789A 保单号次 :PEXP 合同号 (CONTRACT NO.) GOBB234789A POLICY NO. 信用证号 ( L/C NO.) FGK 被保险人 : Insured: KARRIC TRADING CO.,LTD. 中国人民保险公司 ( 以下简称本公司 ) 根据被保险人的要求, 由被保险人向本公司缴付约定的保险费, 按照本保 险单承保险别和背面所载条款与下列特款承保下述货物运输保险, 特立本保险单｡ PICC

Section 2 IV. Insurance Document THIS POLICY OF INSURANCE WITNESSES THAT THE PEOPLE’S INSURANCE COMPANY OF CHINA (HEREINAFTER CALLED “THE COMPANY”) AT THE REQUEST OF THE INSURED AND IN CONSIDERATION OF THE AGREED PREMIUM PAID TO THE COMPANY BY THE INSURED, UNDERTAKES TO INSURE THE UNDERMENTIONED GOODS INTRANSPORTATION SUBJECT TO THE CONDITIONS OF THIS POLICY AS PER THE CLAUSES PRINTED OVERLEAF AND OTHER SPECIAL CLAUSES ATTACHED HEREON. 标记 MARKS & NOS 包装及数量 QUANTITY 保险货物项目 DESCRIPTION OF GOODS 保险金额 AMOUNT INSURED N/MG.W.: 7,180.0KGS N.W.: 6,679.2KGS BIAXIALLY ORIENTED POLYPROPYLENE FILM USD24,980.21

Section 2 IV. Insurance Document 总保险金额 : TOTAL AMOUNT INSURED: SAY US DOLLARS TWENTY FOUR THOUSAND NINE HUNDRED EIGHTY AND CENTS TWENTY ONE ONLY. 保费 : 启运日期 : 装载运输工具 : PREMIUM: AS ARRANGE DATE OF COMMENCEMENT: JUL.27,2008 PER CONVEYANCE: COSCO MARRIE V.023S 自 经 至 FROM: GUANGZHOU,CHINA VIA TO MELBOURNE,AUSTRALIA. 承保险别 : CONDITIONS: COVERING INSTITUTE CARGO CLAUSES A INSTITUTE STRIKE CLAUSES INSTITUTE WAR CLAUSES

Section 2 IV. Insurance Document 总所保货物, 如发生保险单项下可能引起索赔的损失或损坏, 应立即通知本公司下述代理人查勘 ｡如有索赔, 应向本公司提交保单正本 ( 本保险单共有 1 份正本 ) 及有关文件｡如一份正本已用于索 赔, 其余正本自动失效｡ IN THE EVENT OF LOSS OR DAMAGE WHICH MAY RESULT IN A CLAIM UNDER THIS POLICY IMMEDIATE NOTICE MUST BE GIVEN THE COMPANY ’ S AGENT AS MENTIONED HEREUNDER. CLAIMS, IF ANY, ONE OF THE ORIGINAL POLICY WHICH HAS BEEN ISSUED IN ONE ORIGINAL(S) TOGETHER WITH THE RELEVENT DOCUMENTS SHALL BE SURRENDERED TO THE COMPANY. IF ONE OF THE ORIGINAL POLICY HAS BEEN ACCOMPLISHED, THE OTHERS TO BE VALID. 中国人民保险公司 广州分公司 R.B HALSTED & ASSOSIATES PTY.LTD The People ’ s Insurance Company of China 5 WHITFIELD STREET DARWIN NT 0800 PO BOX Guangzhou Branch

Section 2 IV. Insurance Document 4528 DARWIN NT 0801,AUSTRALIA TEL;(61) FAX:(61) 赔款偿付地点 : CLAIM PAYABLE AT : AUSTRALIA 出单日期 : ISSUING DATE: JUL Authorized signature 地址 (ADD): 广州黄埔中路 68 号 电话 (TEL): 邮编 (POST CODE): 传真 (FAX): 保单顺序号 :