Insurance Coverage For Free Of Charge Goods

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mano
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Insurance Coverage For Free Of Charge Goods

Post by mano » Tue Feb 03, 2015 5:18 pm

Dear experts:
can i have some exper views in such case

credit called for free of charge goods

should the insurnace cover these goods in the following two cases

1-there is a custom invoive for this items or can be determined from the unit price of same required goods
2-if we can't determine a vlaue of such FOC goods or they are items of different goods type, hence no mean to get their actual value.

best regards
a.rabea

Caterin
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Re: Insurance Coverage For Free Of Charge Goods

Post by Caterin » Thu Nov 30, 2017 6:34 pm

dear colleaues
can you please share your opinion about it? I have an invoice stating free of charge goods, however it also gives their value for cuctoms. Should insurance include such goods value as well?

cristiand969
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Re: Insurance Coverage For Free Of Charge Goods

Post by cristiand969 » Tue Dec 05, 2017 7:26 pm

The insured value should be NIL if you are referring to a settlement through an L/C!
The value for customs is stated for the taxation purpose in order for the goods to be cleared.
However, nothing prevents you to agree with the seller to insure the goods for a certain value for your benefit in case damage of sample would produce you any loss

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