Explain the international freight insurance documents

        INSURANCEDOCUMENTS are not only the underwriting proof of the insurance company to the insured, but also the contract of the rights and obligations of both parties。In the event of damage to the insured goods, the insurance policy is the main basis for the insured to claim and the main basis for the insurance company to settle the claim。

Explain the international freight insurance documents

 

The fundamental content of the insurance document

 

        Invoice number and policy number;The applicant is the title of the insured;Description, mark and number of goods;Insurance amount and monetary unit;Name of vessel, place of departure and estimated date of departure;Accept insurance;The place of claim settlement;Date of issue;Signed by the insurance company。

 

Classification of insurance documents

 

        (1) INSURANCEPOLICY: commonly known as a large insurance policy，It's a proper insurance contract，In addition to the name of the insured (applicant), the name of the insured goods (subject matter), quantity or weight, shipping mark, means of transport, place of commencement and destination of insurance, type of insurance, amount of insurance, date of issue, etc，The scope of the insurer's obligations is also set out on the reverse side of the policy，And the insurer and the insured's respective rights and interests, obligations and other detailed provisions，It is the best insurance document。An insurance policy can be endorsed by the insured and transferred with the transfer of title. It is a separate insurance document。

 

        (2) Insurance certificate (INSURANCECERTIFICATE) : commonly known as a small insurance policy, it has the fundamental content of the front of the insurance policy, but it does not have the insurance terms on the back of the insurance policy, which is a simplified insurance contract。

 

        (3) combined with insurance certificates (COMBINEDINSURANCECERTIFICATE) : also known as insurance certificate (RISKNOTE)，It is a more simplified insurance document especially used by Chinese insurance companies，The insurance company shall add the insurance number, type of insurance, amount of insurance, loading of vessel, date of departure, etc., to the invoice submitted by the export company，And affix the seal of the insurance company，This document is not transferable。

 

        (4) Open policy (OPENPOLICY/OPENCONER) : It is a long-term cargo insurance contract。The predetermined policy specifies the scope, risks, premium rate, the maximum insured amount of each shipment of goods and the settlement of premiums, the disposal of claims and other items. All import and export goods within the scope of this policy, once shipped, will be automatically covered in accordance with the conditions specified in the policy。However, upon learning of the departure of each batch of insured goods, the insured shall immediately inform the insurance company and the importer of the detailed conditions of the shipment of the goods, including the title, quantity, insurance amount, type and title of the means of transport, the place of departure and destination of the voyage, and the date of departure

 

        At present, this kind of insurance document is generally applicable to import goods and export exhibition goods and small sales goods on FOB or CIF terms in our country。

 

Iii. Contents and preparation of the insurance policy

 

        (1) Name of Insurance company (NamEO Finsurancecompnay)。This column should be based on the credit card and contract request to the corresponding insurance company to handle insurance documents，Especially under credit card payment，Such as come rules "INSURANCEPOLICYINDUPLICATEBYPICC"，PICC stands for People's Insurance Company of China，Request for an insurance policy issued by the People's Insurance Company of China。

 

        (2) NAME of insurance document。This column in accordance with the credit certificate and contract drawn up, such as the rule "INSURANCEPOLAYINDUPLICATE", namely insurance policy rather than a certificate issued by the request (INSURANCECERTIFICATE), etc。

 

        (3) Invoice number (INVOICENO.)。Fill in this field the number of the commercial invoice for the insured goods。

 

        (4) Insurance policy number (NO.)。Fill in the policy number in this field。

 

        (5) INSURED。If the credit card and the contract are not specified, the beneficiary of the credit card is generally filled in this column, that is, the export common title。

 

        (6) Marks (MARKSANDNOS.) : Fill in the shipping mark in this column, the same content as the same column on the bill of lading or fill in "ASPERINVOICENO.╳╳╳”。

 

        Packing and QUANTITY。This column is filled with the number of large packages, the same as the same column on the bill of lading。

 

        (8) Insured goods (DESCRIPTIONOFGOODS)。The title of the goods filled in this column can be the same as the title on the bill of lading。

 

        (9) Insurance amount (Amountinamount)。The insurance amount shall be filled strictly in accordance with the requirements of the credit card and the contract. If the credit card and the contract have no clear rules, it is generally filled in with the invoice amount plus 10% (that is, 110% of the invoice amount)。

 

        (10) Total insurance amount (AMOUNTINSUREDINCAPITAL)。For this column, simply put the insurance amount in column 9 in capital letters, and the currency should also be entered in full。Note: The currency unit used in the insurance amount should be different from that in the letter of credit, such as "United States dollars" (U.S.DOLLARS)ONETHOUSANDTWOHUNDREDANDFIFTY-FIVEONLY。

 

        (11) PREMIUM。This column is usually completed by the insurance company or has been printed ASARRANGED，Unless the credibility says otherwise，Such as "MARKEDPREMIUMPAID INOURANCEPOLICYENDORSEDINBLANKFULLINVOICEVALUEPLUS10%，Fill in "PAID" or delete the printed "ASARRANGED" and stamp "PAID" in this field。

 

        (12) RATE。This box is prepared by the insurance company or has been printed with "ASARRANGED"。

 

        (13) PERCONVEYANCES.S)。This field should be filled in according to practice，When the carriage is completed by two or more journeys，The name of the vessel used for each type of transport should be filled in，The name of the ship on the bill of lading is "EASTWIND"，Second leg ship named "REDSTAR"，This field should read: EASTWIND/REDSTAR，And so on。

 

        (14) SAILINGONORABOUT。This field contains the date of issue of the bill of lading or any day within 5 days prior to the date of issue, or simply ASPERB/L。

 

        (15) FROM... to...TO…)。Fill in the names of the port of departure and port of destination for the actual shipment of the goods in this column. If the goods are transshipped, the transshipment place should also be filled in such as FROMNINGBO, CHINATONEWYORK, USAVIAHONGKONG(ORW/THONGKONG).。

 

        Note: Sometimes the detailed port of shipment and the port of destination are not clearly listed in the credit card, such as ANYCHINESEPORT or ANYJAPANESEPORT. When filling out, a port such as SHANGHAI or OSAKA should be selected according to the practice of shipment。(16) Insurance CONDITIONS。This column should be completed in accordance with the insurance clause in the credit card or contract。

 

        Such as come certificate request "INSURANCEPOLICYCOVERINGTHEFOLLOWINGRISKS: ALLRISKSANDWARRISKASPERCHINAINSURANCECLAUSE (C.I.C) ", making should be marked "ALLRISKSANDWARRISKASPERCHINAINSURANCECLAUSE (C.I.C)”。

 

        (17) CLAIMPAYABLEAT...。This column should be filled out in accordance with the credit card or contract rules, if there is no detailed rules, generally the destination as the place of payment, the destination title is filled in this column, the currency of compensation is the same as the insurance amount。

 

        Such as come certificate request "INSURANCECLAIMSPAYALEATATHIRDCOUNTRYGERMANY"。In this case, the third country "GERMANY" should be entered in this field。

 

        (18) DATE。Fill in the date of the policy in this field。Since the insurance company provides warehouse to warehouse service, the insurance procedure should be completed before the goods are separated from the export warehouse, and the date of issue of the policy should be the date of separation of the goods from the warehouse or at least the date of issue of the bill of lading。

 

        (19) PLACE of insurance。This column is commonly filled with the name of the loading port。

 

        (20) Seal and signature (STMP&SIGNATURE)。This column bears the same seal of the insurance company and the signature of its agent as the first column。

 

        (21) SPECIALCONDITIONS。If the credit card and the contract have special requirements for insurance documents, fill in this field。The Tathagata request "L/CNO。MUSTBEINDICATEDINALLDOCUMENTS ", that is, fill in this column L/CNO ╳ ╳ ╳。

 

        (22) The word "ORIGINAL"。According to the provisions of the Uniform Practice for Documentary Credit, the ORIGINAL policy must have the word "original" on it。

 

Number of copies of the policy

 

        If the credit card does not understand the number of copies of the policy，Insurance companies generally issue insurance policies in five copies，It consists of one ORIGINAL, one DUPLICATE and three copies，An exporting company usually submits to the bank a sound insurance policy (i.e., including an ORIGINAL)，A DUPLICATE)。Buddha card request "INSURANCEPOLICYINDUPOICATE", presented to the negotiating bank a copy of the ORIGINAL export company, a DUPLICATE。

 

Endorsement of the policy

 

        Marine insurance policies can be transferred by endorsement, and the insurance documents will automatically pass to the assignee with the transfer of all rights to the insured goods after the endorsement by the insured。There are several ways of general endorsement:

 

        (1) BLANKINDORSED。The blank endorsement only needs to indicate the title of the insured (including the name of the exporting company and the name of the handler) on the reverse side of the policy。If the credit card does not understand the rules of which endorsement, even in blank endorsement。

 

        (2) Endorsement by name。ENDORSEDINTHENAMEOF╳╳ or EDLIVERYTO(THEORDEROF)╳╳ CO.Even if it is endorsed by name。The specific endorsement shall indicate the title of the insured and the name of the agent on the back of the policy and be marked EDLIVERY.。

 

        (3) Endorsement of specific instructions。When the certificate request "INSURANCEPOLICYISSUEDTOTHTO ╳ ╳ ╳ CO.Or THENAMEOF╳╳ (This kind of insurance policy is not easy to transfer, less make EORDEROF╳╳ ", at this time on the back of the bill of lading indicate the title of the insured and the name of the manager, and then mark "TOORDEROF╳╳"。