Institutional Cargo Clause A

The forum is dedicated to all who deals with LCs. Please share your experiences, problems and opinions with us. You are requested to be confined to LC related issues only. Let us together discover the beauty of Letter of Credit. Thank and regards – admin; besttradesolution.com
Post Reply
Bankerman
Posts: 2
Joined: Mon Jul 13, 2020 10:38 am
First Name: Kathmandu
Last Name: Banker
Organization: Bank
Filter: Two Plus Two =: 4
Location: KAthmandu

Institutional Cargo Clause A

Post by Bankerman » Mon Jul 13, 2020 10:47 am

HI ,

While we do insurance with Institutional Cargo clause A for the coverage, are the SRCC and TPND included on this or they are separate clauses with added premium.
Does the Strike clause cargo include SRCC, as most of the time we say its not included and the beneficiary bank claims its included.

Can anyone please clarify please.

User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Re: Institutional Cargo Clause A

Post by picant » Sat Aug 08, 2020 10:28 am

Hi Pal,

if the l/c requires SRCC, War Risks and Theft Pilferage and No Delivery clauses it is better to have
evidence of them in the insurance documents. Bank clerks may have not a deep knowledge of other
industries.
Other comments appreciated
Ciao

Post Reply