A RTICLE 26 O N D ECK S HIPPER S L OAD AND C OUNT S AID BY S HIPPER TO C ONTAIN

A rticle 26 o n d eck s hipper s l oad and c ount s

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A RTICLE 26: "O N D ECK ", "S HIPPER ' S L OAD AND C OUNT ", “S AID BY S HIPPER TO C ONTAIN AND C HARGES A DDITIONAL TO F REIGHT a. A transport document must not indicate that the goods are or will be loaded on deck. A clause on a transport document stating that the goods may be loaded on deck is acceptable. b. A transport document bearing such clauses as "shipper's load and count" and "said by shipper to contain" is acceptable. c. A transport document may bear a reference, by stamp or otherwise, to charges additional to freight.
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19 A RTICLE 27: C LEAN T RANSPORT D OCUMENT A bank will only accept a clean transport document. A clean transport document is one bearing no clause or notation expressly declaring a defective condition of the goods or their packaging. The word “clean” need not appear on a transport document, even if a credit has a requirement for that transport document to be “clean on board”. A RTICLE 28: I NSURANCE D OCUMENT AND C OVERAGE a. An insurance document, such as an insurance policy, an insurance certificate or a declaration under an open cover, must appear to be issued and signed by an insurance company, an underwriter or their agents or their proxies. Any signature by an agent or proxy must indicate whether the agent or proxy has signed for or on behalf of the insurance company or underwriter. b. When the insurance document indicates that it has been issued in more than one original, all originals must be presented. c. Cover notes will not be accepted. d. An insurance policy is acceptable in lieu of an insurance certificate or a declaration under an open cover. e. The date of the insurance document must be no later than the date of shipment, unless it appears from the insurance document that the cover is effective from a date no later than the date of shipment. f. i. The insurance document must indicate the amount of insurance coverage and be in the same currency as the credit. ii A requirement in the credit for insurance coverage to be for a percentage of the value of the goods, of the invoice value or similar is deemed to be the minimum amount of coverage required. If there is no indication in the credit of the insurance coverage required, the amount of insurance coverage must be at least 110% of the CIF or CIP value of the goods. When the CIF or CIP value cannot be determined from the documents, the minimum insurance coverage must be calculated on the basis of the amount for which honour or negotiation is requested or the gross value of the goods as shown in the invoice, whichever is greater. iii. The insurance document must indicate that the risks are covered at least between the place of taking in charge or shipment and the place of discharge or final destination as stated in the credit. g. A credit should state the type of insurance required and, if any, the additional risks to be covered.
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