Insurance, Insurance, faq @ Kinmart

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Insurance


When orders are concluded based on FOB or CFR trade terms, we will notify customers with a shipping advice within 3 working days after the goods are Shipped On Board.

 

Upon receipt of our shipping advice, customers should arrange for insurance coverage themselves with a local insurance company/agency. If any losses or damages occur to the cargo during transit, and these losses/damages fall within the scope of the insurance policy/certificate, customers should claim directly against the insurance company.

 

If customers have not arranged for insurance even after receiving our Shipping Notice, or if the loss/damage does not fall within the scope of the relevant insurance, customers themselves will bear the losses/damages. They may claim against carriers if they have full evidence that the carriers should bear the responsibilities.

 

For any orders concluded based on CIF trade terms, if not specifically requested, we will cover F.P.A. (Free From Particular Average) for 110% of the total invoice value, as per the Ocean Marine Cargo Clause of the People’s Insurance Company of China. The insurance will be made out in U.S. currency and payable at the destination.

 

 




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