Claims in Marine Insurance An insured can file a claim with the insurer in case an incident (against which the insurance cover has been taken) takes place. As stated in…

Marine Insurance Premium and Documents Export credit risk insurance safeguards an exporter against the risk of non-payment by an international buyer. In other words, export credit risk insurance reduces the…

Selection of Insurance Cover Proper insurance coverage is a critical component in managing the traders’ risk. Some of the important considerations in selecting an insurer are as follows: The insurance…

What is Marine Insurance? Marine insurance is an agreement between an insurer and the insured whereby the insurer accepts to indemnify the insured (to the extent thereby agreed) against losses…

Conference System and Practices in Shipping Companies The conference system of shipping refers to a formal association of shipping companies for setting freight rates in the shipping network. These conferences…

Customs Clearance Procedure The custom clearance procedure involves a number of steps starting from presenting the shipping bill to port authorities to the receiving of ‘Let Export’ order. You will…

Shipping of Goods Shipping of goods refers to a process of transporting goods to other countries through different modes, such as sea and air. An exporter can ship goods with…

Customs Clearance of Imported Goods At this stage, the importer is required to present all relevant documents. After this, the B/E is sent to the customs officer who is in-charge…

Assessment of Customs Duty Central Excise Rules, 2002 define assessee and assessment. The customs duty must be assessed for the purpose of duty payment. The assessment here refers to two…

Rates of Customs Duty Whenever an individual or a business entity imports some goods in India, they have to pay a certain amount of duty and some additional taxes. The…