Essential Details Incorporated Into A Typical Insurance Policy
1. The name and address of the insurance company(insurer)
2. The name and address of the shipper/exporter.
3. The nature, type(s) and extent of the insurance risks coverage.
4. The amount of insurance coverage (invariably expressed in the same currency as stated in the invoice and is generally for the full invoice value plus ten percent).
5. A description of the goods insured.
6. The place where claims are payable (including the office or agent to whom such claims are to be lodged).
7. The port of shipment and the port of discharge for the goods insured.
8. The date of the insurance cover (normally the date of the insurance policy for the cover is the same or earlier than the date of the bill of lading).
9. The authorized signature(s) of the insurer.
Essential Details Incorporated Into A Typical Bill Of Lading
1. The name and address of the shipping company.
2. The name of the shipper (generally ,the exporter/consignor or his agent).
3. The name of the importer/consignee (or his agent).
4. The name of the “notify party”(generally ,the importer/consignee who would be the party to be advised upon arrival of the ship carrying the goods at its destination).
5. The name of the ship carrying the goods.
6. The port of loading and the port of discharge/destination.
7. A brief description of the goods to be carried on board the ship as well as the shipping
8. marks and numbers (and other identification marks,where applicable).