Insurance, Insurance, faq @ Kinmart

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Insurance


When orders are concluded on base of FOB, or CFR trade term, we will notify customers with shipping advice within 3 working days after Shipped On Board.

Upon receipt of our shipping advice, customers shall cover the insurance themselves against the local insurance company/agency. Shall any losses or damages to cargoes during the transit, and the losses/damages fall into the scope of insurance policy/certificate, customers shall claim directly against the insurance company.

If customer have not made any insurance even after receipt of our Shipping Notice, or the loss/damages fall no into the scope of the relative insurance, customers themselves shall bear the losses/damages, or may claim against carriers if have full evidence the carriers shall hold the responsibilities.

For any orders concluded on base of CIF trade term, if not specific requested, we will cover F.P.A. (Free From Particular Average) for 110% of total invoice value, as per Ocean Marine Cargo Clause of People's Insurance Company of China, and the insurance is to be made out in U.S. currency and payable in Destination.




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