Insurance Dated After Shipment But Include Shipment Details

[Md.zakir Hossen]

Dear experts tell me and explain:
An insurance documentdated later than the shipment date as evidenced on the transport document but includes details of the shipment i.e., date, name of vessel etc. Is this evidence of insurance being effective as of the date of shipment?

[nesarul]

Dear Zakir Vai,
First of all, I don't know whether other people in this forum are expert or not, But I know I am a learner. Pls rectify me, If i am in wrong track.
This insurance document is not acceptable.
thanks]
nesar

[shahriar]

dear zakir bhai,

to be acceptable, the doc must explicitly express that it is effective from the date of shipment

regd

shahriar

[Mehdi]

Though they consider themselves as learners, their interpretation is more than professional nature. As such they are experts. Aren't they?

Regards..........Mehdi

[shahriar]

dear friends,

i was thinking on the answer i posted last time on this topic. i said on that occasion

to be acceptable, the doc must explicitly express that it is effective from the date of shipment

now i have a question to make. UCP 28e says

e. The date of issuance 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.

again UCP 28 f iii

the insurance document must indicate that risks are covered at least between the place of taking in charge or shipment and the place of discharge or final destination as stated in the credit.

if my understanding is correct, then there is no use of 28e if 28fiii is there. because so far i know, cargo insurance is not a ordinary insurance. its related to the goods and occur only once in a period. therefore if the insurance document says that it is covering the risk between port a to b, the risk is automatically covered when goods are on board or even at the CY.

do you agree?

shahriar