The insurance policy required to be tendered by the seller under a cif contract is one which complies with any terms regarding the policy agreed in the contract of sale1 and which is otherwise current in the particular trade2. The question whether the policy tendered fulfils this requirement is one of fact. In particular, it need not necessarily cover every risk included within the form of the policy scheduled to the Marine Insurance Act 19063. The goods must be covered by the policy to an amount equal to their reasonable value on shipment
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234