A B C D E F G I J K L M O P R S U W Y

Cargo insurance certificate

A document indicating the type and amount of insurance coverage in force on a particular shipment. Used to assure the consignee that insurance is provided to cover loss of or damage to the cargo while in transit. In some cases…

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Carrier liability limit

The maximum amount of money for which a carrier is legally liable for loss or damage to cargo. This is surprisingly low. For example, under the Warsaw Convention it is 17 euros per kilo for airfreight shipments.

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Casualty

An adverse chance event, such as the disappearance of, or damage, to goods in transit.

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COFACE country risk

Country risk classification provided by the French company COFACE (Compagnie Française d’Assurance pour le Commerce Extérieur), world leader in export insurance that is very useful to know the country risk and the business climate in 160 countries. It offers a…

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Contingency insurance

Insurance coverage taken out by a party to an international transaction to insure against insurance coverage taken by the counterparty. The contingent insurer pays its beneficiary and attempts to collect from primary insurer. For example, a pre-paying buyer purchasing on…

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