Insurance Documents are ones, issued by the issuer, certifying that the insurer and the insured have signed an insurance contract covering the goods to be transported. If the goods under the contract do incur damages or even losses in transit, the insured can lodge a claim against the documents.
Since insurance documents are the evidence of insurance contract between the insurer and the insured, they are mainly classified as the following four types:
This is a written legal contract between the insurer and the insured containing all terms and conditions of the agreement. It shows full details of the risks covered, and is also called fomal insurance documents.
Key elements of insurance policy are illustrated as follows:
An insurance certificate is a document issued to the insured certifying that the insurance has bee effected. It contains the same details as an insurance policy except that version of provisions is abbreviated. If a documentary credit requires an insurance policy, issuing bank will refuse an insurance certificate for payment.
Combined Certificate is further simplified. The insurer here lists the risks to be covered, the insured amount and the policy number on the invoice provided by the insured, and the other clauses are to be seen on the invoice.
Open Policy or Open Cover
This is a pre-contract concluded between the insurer and the insured by which the insurer offers insurance to the insured for the consignments he dispatches within a certain period of time.
Open Policy is only applicable to the imported goods from foreign countries to China. As soon as the carriage for the consignment under the Open Policy is made, it is under the insurance cover of the Open Policy in accordance with the terms listed on the Open Policy.
Importing and Exporting Goods to and from the United States
Enter a search term or partial word in the search field at the top of the homepage and select one of the results from the drop down box or browse the A-Z list of topics at the bottom of the Business Exchange homepage to find a collection of organized information from thousands of diverse sources.
Import Export Jobs in Textile-Apparel and Fashion industry
Established in 2000, Fibre2fashion is amongst the world’s largest B2B platforms for the global Textile-Apparel and Fashion industry. We are not only an e-trade platform facilitating the sourcing & marketing requirements but also a provider of first-hand information on various aspects of textile, apparel and fashion industries, 24x7, globally.
Careers with the U.S. & Foreign Commercial Service
Are you interested in working abroad? Are you interested in promoting U.S. business interests around the world? The U.S. & Foreign Commercial Service promotes the export of U.S. goods and services and advocates for U.S. business around the world.