Business Insurance Documents to be produce by the claimant in support of a marine claim

[Mataracy]

For the avoidance of doubt, and in occasional misunderstandings that have arising on this subject, we list below some of the vital documents that must be produced in support of a Marine claim. The documents would of course vary depending on the type of claim and whether it is on a ship, cargo or freight.

(1) CARGO
(I) The policy
(ii) The bill of lading which would evidence the terms and conditions of carriage and the apparent condition in which the goods where shipped.
(iii) Invoices, which would give details of the values, discounts and conditions of sale.
(iv) Certificate of survey. This would give details of the cause of the loss or damage and the gross sound and damaged values.
(V) Certificate of discrepancy. Insurers of some countries, for example, Nigeria where I reside also insist on a certificate of discrepancy issue by a shipping line or the ports authorities. This certificate certifies that some discrepancies occurred from the particular shipment and the certificate goes on to supply details of the discrepancies and it is signed by the authorized official. It enables the marine insurer to know the exact nature of a claim. It enables the marine insurer to know the exact nature of a claim.
(Vi) If the goods have been sold, a statement of account showing the proceeds from the sale.
(Vii) Letter of subrogation. This letter authorizes the insurers to sue in the insured's name when there is possibility of recovery from a third party.

 

[btaliat]

May is ss this politely sir, I hope the second document is landing. I hope you will correct it if truly I am right. It is always imperative of the insurer to provide all these documents for the recovery of his compensation in term there is loss. Does the last one mean that insurer can sue the third party that causes the loss?

 

[Mataracy]

May is ss this politely sir, I hope the second document is landing. I hope you will correct it if truly I am right. It is always imperative of the insurer to provide all these documents for the recovery of his compensation in term there is loss. Does the last one mean that insurer can sue the third party that causes the loss?

Its bill of lading sir. A bill can be described as a documents issued by a carrier to acknowledged receipt of cargo for shipment. It a document of title to the goods described in the bill. Bill of lading is a legal document, used between a shipper and a carrier that specifies the type, quantity and destination of goods that is being carried.
The bill of lading is also used as a shipment receipt when the carrier delivers goods at the predetermined destination.

 

[btaliat]

Its bill of lading sir. A bill can be described as a documents issued by a carrier to acknowledged receipt of cargo for shipment. It a document of title to the goods described in the bill. Bill of lading is a legal document, used between a shipper and a carrier that specifies the type, quantity and destination of goods that is being carried.
The bill of lading is also used as a shipment receipt when the carrier delivers goods at the predetermined destination.

Thanks for the correction. You can believe that I have been erroneously pronuncing this word for long may be because I am not a commercial student. I now got your full explanation on what the document mean. I think it is only used in the marine insurance to acknowledge the reception of goods. Thanks once more.