QUOTATION FOR OPEN MARINE CARGO INSURANCE (INLAND)
Insured Name SAROJ COMMODITIES PRIVATE LIMITED
Mailing Address A) 1ST FLOOR, 486, RABINDRA SARANI, SOVA BAZAR, KOLKATA, WEST BENGAL, 700005
B) NA, MOUZA-BELPAHAR, TAH-LAKHANPUR, BELPAHAR, JHARSUGUDA, ODISHA, 7682
Expiring Policy No. Fresh
Existing Insurer Fresh
Expiring Rate Fresh
Period of Insurance 12 Months
2022-23
Claim History 2023-24
2024-25
Commodity COALS
Packing Details Standard and Customary
Voyage / Transit Anywhere in India to anywhere in India
Conveyance ROAD, RAIL
Basis of Valuation Invoice value + 10%
Insuring Terms
Limit per Sending
Limit per Location
Annual Estimated Turnover
Insurable turnover
Premium Rate
PREMIUM SUMMARY
Net Premium : ₹ 50,000
GST : ₹ 9,000
Stamp Duty : ₹ 1.00
Total Premium Payable : ₹ 59,001
Insurer : ICICI LOMBARD GICL
Excess 0.25% of the Consignment value
Coverage
Inland Transit (Rail / Road) Clause (A) - Cover All Risk unless specifically excluded
Strikes, Riot and Civil Commotion Clause
Institute Radioactive Contamination Exclusion Clause
Cargo Termination of Storage in Transit Clause
Cargo Termination of transit Clause (Terrorism)
Insititute Chemical, Biological, Bio chemical, Electromagentic Weapons and Cyber attack Exclusion Clause
Important Notice Clause
Cargo termination of storage in transit clause
Special Contract or Private Carriers Warranty
Institute Standard Conditions for Cargo Contacts
Inspection of Records Clause
Institute Cyber Attack Exclusion Clause
Courier Transit Clause
Institute Replacement clause for new items
Limitation of liability clause (Inland transit)
Cancellation clause
Other Terms to be given
Transhipment Cover
Multi-mode Transport Covered
Bagged Cargo Clause
Re-coopering / Repacking Clause
Brand & Trade Mark Clause
Unpaid Vendor Clause
Label Clause
Pair and Set Clause [Full amount] : in case of loss destruction or damage to part of pair or set, the Insurer will pay the full amou
Insured agree to surrender the remaining article or articles of the pair or set to the Insurer
CIF imports where liability of Indian importer starts from the Indian airport &/or sea port cover shall be as per Inland Transit Cla
Damage, Impact Damage, Flood, Storm, Earthquake
Coverage for second hand / used items / return items to be covered as per Inland Transit Clause-B + SRCC + TPND, Malicious Da
Storm, Earthquake
It is hereby agreed and understood that claim under the policy will not be prejudiced if FIR copy is not available for normal dam
claims upto Rs. 2 Lacs. However in case of such claims above Rs. 2 Lacs and/or extraordinary circumstances and/or in case of to
hijack claims, and/or claims of like nature, the FIR copy would be mandatory
Waiver of subrogation is hereby agreed for inland transits and transits by private carriers) and such claims to be settled on 90%
Self-Survey Limit Rs. 1 Lac on each and every admissible claim
Seal Intact Clause : the fact that the container's seal is intact at the point of unloading shall not invalidate claims for theft, pilfer
Deliberate Damage (Pollution Hazard Clause) : this policy is extended to cover but only while the property insured is on board a
or damage to said property directly caused by governmental authorities acting for the public welfare to prevent or mitigate a p
provided that the accident or occurrence creating the situation which required such
Express Freight Expense : Insurers agree to pay for air-freighting for repairs and return even though the original insured voyage
Nominate loss adjuster clause
Suing and labour clause : If the insured undertakes such acts by which the loss incurred is reduced, the expenses incurred towa
the insurer if this clause is inserted
Removal
Rejected and Clearance
Shipment Clauseof :Debris
this extension : If the insured undertakes such acts by which the loss incurred is reduced, the expe
can be recovered
insurance from
shall cover the insurer
goods refusedif this clause is inserted
and/or returned by Consignees or
which remain at the risk of the Assured
beyond the normal course of transit
until disposed of by the Assured by
return to the&port
Warranties of shipment
Exclusions
It is warranted that goods are transported in closed wagons and /or trucks to be covered with tarpaulin or any other water pro
Warranted adequate packing to withstand the intended journey
It is warranted that if the weight of the cargo exceeds than Registration Laden weight/ Licensed Carrying Capacity of the vehicle
Certificate of the vehicle, then any loss or damage arising out of such transit is not covered
Warranted new items
Excluding intentional storage during the normal course of journey
Excluding losses arising from rust oxidation discolouration unless caused by ITC -B/ ICC - B perils
Excluding losses arising from chipping denting cracking scratching bending twisting losses unless caused by ITC -B/ ICC - B perils
Excluding losses due to mechanical, electrical & electronic derangement unless caused by ITC -B/ ICC - B perils
Excluding shortage losses unless caused by external visible physical fortuitous means
PRIVATE LIMITED
RA SARANI, SOVA BAZAR, KOLKATA, WEST BENGAL, 700005
TAH-LAKHANPUR, BELPAHAR, JHARSUGUDA, ODISHA, 768218
Nil
ere in India
400,000
10,000,000
6,500,000,000
100,000,000
0.05%
PREMIUM SUMMARY
₹ 50,000
₹ 9,000
₹ 1.00
₹ 59,001
ICICI LOMBARD GICL
alue
lly excluded
ns and Cyber attack Exclusion Clause
age to part of pair or set, the Insurer will pay the full amount of the pair or set provided the
ir or set to the Insurer
airport &/or sea port cover shall be as per Inland Transit Clause-B + SRCC + TPND, Malicious
as per Inland Transit Clause-B + SRCC + TPND, Malicious Damage, Impact Damage, Flood,
ot be prejudiced if FIR copy is not available for normal damage/shortage/partial non-delivery
cs and/or extraordinary circumstances and/or in case of total non-delivery claims and/or
ndatory
ts by private carriers) and such claims to be settled on 90% of the net assessed loss amount
oint of unloading shall not invalidate claims for theft, pilferage shortage and non-delivery
d to cover but only while the property insured is on board a waterborne conveyance, loss of
ties acting for the public welfare to prevent or mitigate a pollution hazard or threat thereof,
h required such
repairs and return even though the original insured voyage was by sea-freight
h the loss incurred is reduced, the expenses incurred towards such act can be recovered from
es such acts by which the loss incurred is reduced, the expenses incurred towards such act
trucks to be covered with tarpaulin or any other water proof material to avoid ingress of water
on Laden weight/ Licensed Carrying Capacity of the vehicle, as mentioned in the Registration
h transit is not covered
used by ITC -B/ ICC - B perils
nding twisting losses unless caused by ITC -B/ ICC - B perils
ent unless caused by ITC -B/ ICC - B perils
fortuitous means
