Shippers and Receivers
Cover for your liability for damage to a non Chartered vessel
COVER AS A SHIPPER OR RECEIVER OF CARGO
We have noticed a trend over recent years that sale and purchase contracts for commodities are becoming more onerous and complicated. Clauses that many cargo importers or exporters agree to without contemplating the actual risks attract similar exposure to those faced by a Charterer and typically involve the provision of a safe berth or port, stevedoring, or Liability as a cargo owner once they have taken ownership of the cargo but not yet had it delivered.
BERTH OR PORT SAFETY AND CARGO OPERATIONS
Some sales contract terms such as selling CIF or CFR or buying FOB will require the client to charter the ship and arrange transportation however other contractual sales terms allow third parties to control the shipping, but, the contractual terms of the sale or purchase contract place liability for the provision of a safe port, berth or place or the stevedoring operations squarely on the buyer or sellor of the cargo. Exposure to these types of claims can run into millions or tens of millions of dollars and could involve significant damage or even wreck removal.
We can provide cover for your shipping exposure under a contract of sale on a FOB or FOB Stowed basis or a purchase contract where you are buying the cargo CIF or C&F. In all these cases it is conceivable that you may be providing guarantees regarding safe port, or berth and potentially for stevedore damage to the ship.
We can provide up to USD 500 million of cover per occurrence with AA- S&P Rated Security.
DROP US A LINE
For further details on contract of sales and purchase insurances and contracts around FOB Selling, call us today or complete the enquiry form below: