Flashcards
CAIB 3: Chapter 4 Key Terms
Cards in this deck (7)
- 1Bill of LadingA document issued by the carrier responsible for transporting or forwarding the goods
- 2Agreed ValueA fair value of the shipment agreed to in advance by the insured and the insurer
- 3FreightThe money payable for the hire fo a vessel or for the conveyance of cargo from one port to another
- 4Actual Total LossA loss in which the subject property is totally lost or is so badly damaged that it has no value left
- 5Constructive Total LossWhen the cost of salvaging the cargo is too high realative to the value saved
- 6Particular AverageA partial loss to a specific shipment, other than a General Average
- 7General AveragePayment for marine losses voluntarily incurred for the safety of the entire venture. The parties whose property was saved shall contribute to the losses of the parties whose property was sacrificed
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- Diploma/Certificado de qualificação profissional de nivel 3 CAIB (Chapter 4) Flashcards on CAIB 3: Chapter 4 Key Terms, created by agallo on 23/02/2016.
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