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institute cargo clauses

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Mon, 06/23/2008 - 01:11
jimmy
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hi there again

any differences between institute cargo clauses 1/1/63 and 1/1/82 version?

can either version be accepted under  an l/c calling for insurance doc covering cargo clauses a all risks?

regards

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Mon, 07/28/2008 - 02:19
#1
biswajeetpanda
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Institute clauses

There are mainly three Insurance conditions

1.Marine risks - There are three sets of standard clauses published by the Institute of London Underwriters which set the scope of coverage the latter having wider scope.

- Institute Cargo Clauses (FPA) dd 01.01.1963

-Institute Cargo Clauses (WA) dd 01.01.1963

-Institute Cargo Clauses (All Risks) dd 01.01.1963

In addition , three new sets of clauses dated 01.01.1982 drafted by the Institute are also used:

-Institute Cargo Caluses(C) = almost equal to ICC FPA 

- Institute Cargo Caluses(B) = almost equal to ICC WA

-Institute Cargo Caluses(A) = almost equal to ICC All risks

2.Institute Theft, Pilferage and Non Delivery (issured value) ie TPND dd 16.07.1928. TPND clause is already included in ICC A

3.War and SRCC risks (Institute Strikes,riots and civil commotion dated 01.01.1963 and Institute War clause dd 01.07.1976

In practice if what I have seen is that LCs mention either ICC FPA/ICC WA/ICC All risks plus ICC strike, ICC war plus ICC TNPD in one group otherwise ICC A/B/C, ICC strike, ICC war as othergroup.Objective to cover all risks in anysuch way  

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