Institutional Cargo Clause A

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Bankerman
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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.

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picant
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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

Arihant
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Re: Institutional Cargo Clause A

Post by Arihant » Wed Oct 02, 2024 4:41 am

The issuing bank required theft pilferage and non delivery clause under letter of credit and now a discrepancy is issued because buyer is not accepting discrepancy.

I was assured by my insuring agent that icc A and institute cargo clause A provides maximum coverage so no need to mention seperately, so I provided that

Please some one can help

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