Dear all
I need yr assistance to understand the meaning of such clause mentioned in MT 700 f 46 A
"IN CASE THE BILLS OF LADING BEAR ''BOTH TO BLAME COLLISION CLAUSE" INSURANCE POLICY MUST COVER SAME".
what is the collision clause? and which parts to be blamed?
Is this clause appear in the B/L?
How could the bank check this clause?
regards
memo
Insurance Policy
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memo
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picant
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insurance policy
Hi Pal,
we are in the usual case to force banks to enter in "other industry subjects". I checked few bill of ladings and on the back side it is written about " Both to blame collision clause".Being this clause in so called terms and conditions, banks are not obliged to read them. Moreover any of the Institute Cargo Clause A, B and C provided insurance cver to that risk.
From an l/c point of view it will be sufficient that Insurer quotes cover of this risk in the insurance document, generally, or in case that this clause will be quoted on the bill of lading descriptive part.(Remember that the bill of lading page with terms and conditions is no. ! and the transport details pages in no. 2)
Other comments appreciated
Ciao
we are in the usual case to force banks to enter in "other industry subjects". I checked few bill of ladings and on the back side it is written about " Both to blame collision clause".Being this clause in so called terms and conditions, banks are not obliged to read them. Moreover any of the Institute Cargo Clause A, B and C provided insurance cver to that risk.
From an l/c point of view it will be sufficient that Insurer quotes cover of this risk in the insurance document, generally, or in case that this clause will be quoted on the bill of lading descriptive part.(Remember that the bill of lading page with terms and conditions is no. ! and the transport details pages in no. 2)
Other comments appreciated
Ciao