Institute ISM Endorsement

Hii sir, I Wants to Apply for the ISM Endorsement will you Please provide me the All Necessary Requirements for the Cargo ISM Endorsement?

As you Asking for the Information About the Requirements for the Cargo ISM Endorsement the All Requirements of the Cargo ISM Endorsement is given below

Applicable to all shipments on board Ro-Ro passenger ferries.


Applicable with effect from 1 July 1998 to shipments on board:
1) passenger vessels transporting more than 12 passengers and
2) oil tankers, chemical tankers, gas carriers, bulk carriers and cargo high-speed craft of 500 gt or more.

CARGO ISM ENDORSEMENT – QUALIFICATIONS

The Cargo ISM Endorsement (JC98/019) is incorporated hereunder and subject always to the Assured satisfying the requirements

of the clause it is agreed that the full benefit ofthe policy terms, clauses and conditions remain infull force and effect.

a. The aforementioned exclusion clause shall not apply with respect to any insurance as hereunder provided

where the Assured is buying or has agreed to buy the subject – matter insured in good faith under a binding contract on CIF, CFR, Ex-ship and / or similar terms of purchase where they are not directly

responsible for the fixing of any vessel on which the subject-matter insured is carried.
b. The aforementioned exclusion clause shall not apply with respect to any insurance as hereunder provided

where the Assured is selling or has agreed to sell the subject-matter insured in good faith under a binding contract on EXW, FCA, FAS, FOB and / or similar terms of sale where they are not directly responsible for


CLASSIFICATION CLAUSE
Shipments per Steamers and/or Motor Vessels are subject to the Institute Classification Clause 1997

Any shipments that would be covered hereunder but for the provisions of the Institute Classification Clause are held covered at an additional premium to be agreed; and the terms of such Institute Classification Clause shall not prejudice any claim here under, when presentation of the advice of such claim to Underwriters is the first indication

For more details you may get from the below Attachement that is Free to Download

Requirements for the Cargo ISM Endorsement

Attached Files Available for Download

Requirements for the Cargo ISM Endorsement.pdf (40.1 KB, 6 views)

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Answered By StudyChaCha Member