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Request for open cover

Glaston Potteries have built up a regular trade with customers across the Atlantic. They now ask for open cover insurance for their shipments.

Questions

1. Why does Glaston want the policy changed?

2. Do Glaston ship general merchandise?

3. What is the destination for Glaston's consignment?

4. Will the policy indemnify against any eventuality, or only in particular cases?

5. Look at letter 12.5.5 and work out Glaston's premium.

6. Which words in the letter correspond to the following: particular, set up; general insurance for a number of shipments; thought?

 

12.5.5

Quotation for open cover

In an open cover agreement, the exporter can be certain that the consignment is insured once he sends the declaration form. Settlement may either be on a monthly or quarterly basis, or per shipment. When insurance cover is nearly used up, the insurance company will inform the client and ask if he wants to renew the policy.

 

WORLDWIDE INSURANCE Ltd.

 

Worldwide House, Vorley Road, London N19 5HD

Telephone: 071 263 6216 Fax: 071 263 6925 Telex: 211121

 

Chairman: A.L. Galvin FIS Registered in England No. 6 915614

Managing Director: P.R. Erwin CIS VAT No. 56 341 27

Directors: L. Swanne, T.R. Crowe MC, H.B. Sidey MA

 

Your Ref: Our Ref: Ml-C 167932 Date: 7 March 20

MrE.F. Goodman

Export Department

Glaston Potteries Ltd.

Clayfield

Burnley BB10 IRQ

 

Dear Mr Goodman,

In reply to your letter of 5 March, I am pleased to say that we can arrange an all risk open cover policy for chmaware shipments to North and South American seaboard ports.

As you propose to ship regularly, we can offer you a rate of £2.48p% for a total cover of £60,000.1 am enclosing a block of declaration forms, and you would be required to submit one for each shipment giving full details.

I look forward to receiving your confirmation that these terms are acceptable.

Yours sincerely,

D. Adair

Manager

 

Enc, Declaration forms

 

GLASTON POTTERIES Ltd.

Clayfield, Burnley BB10 IRQ

 

Tel: 0315 46125 Registered No. 716481

Telex: 8801773 VAT Registered No. 133 5341 08



Fax: 0315 63182

 

Mr D. Adair 14 July 20

Worldwide Insurance Ltd.

Worldwide House

Vorley Road

London N19 5HD

 

Dear Mr Adair,

Open Cover Policy 515561

 

Please note a shipment we are making to our customers MacKenzie Bros., Canada, the details of which are on the enclosed declaration form, No. 11765913.

Yours sincerely,

E.F. Goodman

Export Department

Enc.

 

12.5.6

Notification of shipment under open cover

Glaston Potteries have made a shipment to Canada.

 

12.5.7

Claim under open cover agreement

One of Glaston Potteries' shipments to Canada has been damaged.

 

GLASTON POTTERIES Ltd.

Clayfield, Burnley BB10 IRQ

 

Tel: 0315 46125 Registered No. 716481

Telex: 8801773 VAT Registered No. 133 5341 08



Fax: 0315 63182

 

Mr D. Adair 19 October 20-

Worldwide Insurance Ltd.

Worldwide House

Vorley Road

London N19 5HD

 

Dear Mr Adair,

Policy No, 515561

 

We would like to inform you that a number of pieces of crockery were damaged on our shipment to MacKenzie Bros, of Dawson, Canada. The consignment was shipped clean on the SS Manitoba which left for Canada on 16 September, and you have our declaration form No. 11765916.

We have already sent our customers replacements but would like a claims form to complete. Thank you.

Yours sincerely,

E.F. Goodman

Export Department

 


Date: 2016-01-03; view: 411


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