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All risks (AR)

The broadest type of standard marine insurance coverage generally available and offered by the London Institute of Underwriters “A” Clauses. The name is misleading, as “all risks” does not include coverage for the perils of war risk, strike, riot and…

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Allowance

An amount paid or credited by a seller as a refund or reimbursement due to any one of a number of causes including: faulty packaging, shipment of good which do not meet buyer´s specifications, a late shipment, etc.

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