Marine Insurance

ID #1187

What does the term CIF + 10% valuation represents in marine cargo policy?

This represents 110% of the Cost of Goods, Insurance and Freight Charges (CIF) which is paid by the Insurance Company on settlement of claim as per standard marine policy norms. This is applicable only where it is requested by the owner of the goods and 10% of CIF included in the cost and also premium is paid accordingly.

Tags: -

Related entries:

Last update: 2011-10-31 14:51
Author:
Revision: 1.1

Digg it! Share on Facebook Print this record Send FAQ to a friend Show this as PDF file
Propose a translation for Propose a translation for
Please rate this FAQ:

Average rating: 2 (7 Votes)

completely useless 1 2 3 4 5 most valuable

You cannot comment on this entry