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20160120213 80陈卫国国际贸易
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The Choose of Terms and Coverages of Cargo Insurance in China
2016级英语2班  陈卫国 20160120213
The 21th century has witnessed a tremendous development in the economy and international trade in both China and abroad. Thus, cargo transportation are the most significant factor in the international trade. Sea transportation, remained as the most dominated and common-used way of cargo transportation, has gained a great reputation by its relatively low price and stability. However, cargo may be exposed to many unexpected risks and suffer losses in the course of transit, loading and unloading and storage during the possess of transportation. In order to avoid the losses of such kind of incidents, arranging a proper cargo insurance is inevitable. 
 
The marine cargo insurance in China can be mainly classified into Free From Particular Average(F.P.A) and With Average and all Risks. Numerous unexpected situations will rise when cargo are transiting on the sea. Thus, choosing a suitable cargo insurance is crucial to the interest of all parties. The following essay will illustrated how to select a proper cargo insurance in the marine transportation with a case.
 
Case: A Chinese foreign trade company,PANPAN,conducted a contract of selling 2000 pieces(CIF $20) of electric chips with a US technical company. In order to avoid any potential risk, Chinese company bought F.P.A and W.A for its product soon after the cargo was loaded.(all pieces of the chips were loaded separately into two iron container)Unfortunately, due to the slightly rain during the transportation, one of the container got rusted and some rain water soaked in. As the result, 25% of the chips was soaked by the rain and won’t be able to meet the buyer’s requirement. And the insurer refused to pay for the losses of the insured.
 
In this case, the insured purchased both F.P.A and W.A which was expected to avoid losses from potential risks for the cargo. First of all, the cargo losses in question should be identified as particular average in partial loss. According to the stipulation of F.P.A, particular average is not included in their liabilities. And as for the W.A, it does cover partial particular losses of the insured goods caused by the heavy natural calamities. But the rain in question that caused the soaking was proved as light rain. Thus, the insurer has every rights to refuse taking responsibilities.
 
However, how can we avoid such a loss once we had foresee such potential risks? If your goods possess some peculiarities that might cause damage by certain extraneous risks, general additional risks coverage is needed. For example, the light rain soaking damage mentioned above is included in the Rain Damage Coverage. All of the 11 types of general additional coverage are included in All Risk.
 
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