MARINE TAKAFUL
Marine Takaful is said to be Mother of all Takaful”.
In Marine Takaful coverage is provided for goods in transit for both Import and Export and Inland Transit and the mode of conveyances on waterways, air and land routes Marine Cargo Takaful is divided mainly into three segments i.e.
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Import: The goods are covered from warehouse to warehouse the contract is usually on C&F and EXW basis.
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Export: The goods are covered from warehouse to warehouse. The contracts can be CIF and DAP, CIP basis.
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Inland Transit: The goods are covered from anywhere in Pakistan to anywhere in Pakistan.
The covers with respect to above segments are granted as per London Institute Cargo Clauses A, B & C and TLO.
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Clause A: Provides the widest and most comprehensive cover.
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Clause B & C: Provides narrower scopes of cover.
Risk/Perils Covered
- Marine Cargo
- War & Strikes Risks
- Land Transit
- Project Cargos
- Import
- Export
Initial Information Required
- Performa Invoice
- Description of consignment
- Trade Routes
- Cargo packing
- Annual Turnover (in case of open PMD)