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Marine Insurance Quoation For Best Fleet Trading and Projects CC

This document is a marine insurance quotation for Best Fleet Trading and Projects CC, provided by Sinergi Risk (Pty) Ltd, covering chrome concentrate shipments from Durban Port, South Africa to Tianjin Port, China. The estimated sum insured is $295,000 with a premium of $737.50 per shipment, and it outlines various conditions, exclusions, and general excesses applicable to the insurance. Important clauses and conditions, including the Institute Cargo Clauses and specific exclusions related to theft and loss, are also detailed.

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Sephiwe Mafilika
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93 views2 pages

Marine Insurance Quoation For Best Fleet Trading and Projects CC

This document is a marine insurance quotation for Best Fleet Trading and Projects CC, provided by Sinergi Risk (Pty) Ltd, covering chrome concentrate shipments from Durban Port, South Africa to Tianjin Port, China. The estimated sum insured is $295,000 with a premium of $737.50 per shipment, and it outlines various conditions, exclusions, and general excesses applicable to the insurance. Important clauses and conditions, including the Institute Cargo Clauses and specific exclusions related to theft and loss, are also detailed.

Uploaded by

Sephiwe Mafilika
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Marine Insurance Quotation for Best Fleet Trading and Projects CC

Authorised Financial Services Provider FSP No. 51595

Important Information:

Sinergi Risk (Pty) Ltd is a specialised cargo insurance broker. If the contents of this quotation are unclear in
any way please contact us directly before accepting the terms & conditions.

Date 28 May 2025

Insurer Nautical Underwriting Managers

Commodity Description Chrome Concentrate

Voyages Exports, Cross Voyages / Cross Border

Basis of Valuation Exports: CIF value or as per letter of credit +10%


Cross Voyages: CIF value or as per letter of credit + 10%

Mode of Transport Sea and Road – From Durban Port, South Africa until
final destination at Tianjin Port, China

Estimated Sum Insured for project: $295 per MT x 1 000 MT = $295 000.00

Rate: 0.25%

Premium per shipment: $737.50 // ROE @ R17.90 = R 13 201.25

General Excesses: Excess: General Excess 5% of Claim Minimum R5 000


Theft/ Hijacking Excess 10% of Claim Minimum R10 000
Exclusions Mysterious Disappearance
Spontaneous Combustion
Losses due to an inferior product being supplied.
Subject to the relevant Phytosanitary Certificate and other
Customs Clearance documentation being issued.
Warranted Cargo professionally packed to withstand
ordinary transport hazards.
Warranted shipped in accordance with the relevant IMDG
code
Theft / loss needs to be accompanied by Forcible and
Violent entry or exit of the vehicles
Excluding and ordinary loss in weight/ volume unless caused by an insured
peril.
Caused by inherent vice or nature of the subject matter insured, such as
Infestation, evaporation, condensation, warping.
Caused by rats, moth, vermin, mildew, or gradual deterioration

Conditions of Insurance Institute Cargo Clauses (A) and/or Institute Cargo Clauses (Road)
Institute Cargo Clauses (C) – if noted separately
Institute War Clauses – if applicable
Institute Strikes Clauses
Institute Replacement Clause
Second-hand Replacement Clause
Institute Radioactive Contamination, Chemical, Biological, Bio-
Chemical,
And Electromagnetic Weapons Exclusion Clause
Institute Cyber Attack Exclusion
Termination of Transit Clause (Terrorism)
Institute Classification Clause
Important Clause
Standard SAIA Exceptions Clause
Institute Malicious Damage Clause
Important Clause (A)

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