How to use Institute War Clauses in marine cargo insurance policies?

War risk is an important risk factor in international cargo transportation.

Most sea routes used by multinational carriers are passing through or near active war regions or potential war risk related areas.

Especially issuing banks in letter of credit transactions should take war risks very seriously and demand an insurance policy covering war risks.

Today I would like to explain the importance of "Institute War Clauses" in international insurance policies.

After reading this short article you should be able to understand whether current cargo insurance clauses cover war risks or not and how to get insured against war risks.

 

Does All Risks insurance policy covers war and strike risks?

Institute Cargo Clauses (C), Institute Cargo Clauses (B) and Institute Cargo Clauses (A) are the most frequently used cargo insurance clauses.

These cargo clauses are written by International Underwriting Association of London.

Institute Cargo Clauses (A), which is also known as "ALL RISKS" insurance policy, offers widest range of risks coverage comparing to other marine cargo insurance types.

But does all risks cargo insurance type covers war risks and strikes risks?

After reading this article, you should be able to reply whether all risks cargo insurance policy covers war and strikes risks or not?

What are the differences between Institute Cargo Clauses A and Institute Cargo Clauses C?

There are 3 types of marine cargo insurance policies available for international transactions.

These marine cargo insurance policy types are known as Institute Cargo Clauses (A), Institute Cargo Clauses (B) and Institute Cargo Clauses (C).

Each marine cargo policy type covers different amount of risks, whereas Institute Cargo Clauses (C) has the minimum coverage and Institute Cargo Clauses (A), also known as all risks, has the maximum coverage.

Today I would like to mention the differences between Institute Cargo Clauses (A) and Institute Cargo Clauses (C).

Certificates of origin issued retroactively or retrospectively

Certificate of origin is a generic name, which describes various types of documents used in international trade to verify the origins of the goods.

It is expected that a certificate of origin should be issued prior to the transport document date.

If a certificate of origin issued after the transport document date, such as after bill of lading date, it must be marked with "issued retrospectively" or "issued retroactively" statement.

On one of my previous articles, I have explained the meaning of issued retrospectively on a GSP Form A certificate of origin.

Today I would like to point out the meaning of issued retroactively and issued retrospectively on ordinary certificates of origin.

As certificate of origin may refer to a wide range of document types, we need to know exactly what types of certificates of origin could be issued retroactively or retrospectively.

What does issued retrospectively mean on a GSP Form A certificate of origin?

GSP Form A certificate of origin should be issued on or before date of shipment stated on the transport document. 

If it is issued a later date than the date of shipment, then Form A certificate should bear " issued retrospectively" stamp. 

On my previous articles, I have explained some important points in regards to certificates of origin. 

If you have not read my past posts and you need further information regarding certificates of origin, I recommend you to read my following articles:

• Who should issue certificates of origin?
• What are the differences between certificate of origin and GSP Certificate of Origin Form A?
• When to use GSP certificate of origin: Form A?

Today I want to clarify the meaning of issued retrospectively term on a GSP Form A certificate of origin.