Institute Cargo Clauses : Nova verzija 2009.
Institute Cargo Clauses, 2009

Summary/Abstract: Institute Cargo Clauses of 2009 are amended Institute Cargo Clauses, 1982. The former clauses needed revision for several reasons: the emergence of new risks, the need of adapting the cargo insurance terms to changes in modern transportation system and the need to update the language and terminology thereof. The new Clauses introduce a whole series of solutions that modernized those provided by Marine Insurance Act, 1906 and are presented as Clauses for the new millennium. The most significant changes brought by Institute Cargo Clauses, 2009 are those related to the insurance period clauses. The traditional ''warehouse to warehouse'' concept of the insurance period proved to be inappropriate for the contemporary needs and was thus replaced by the ''from the shelf to unloading'' concept of insurance. Insurance cover now includes loading and/or unloading operations inside the warehouse. The implemented changes to the insurance period clauses are undoubtedly in the interest of the insured and contribute to a successful international trade operation. New clauses may be assessed as enhanced in respect to the I.C.C., 1982. It is, therefore, expected that they will be adopted in the global and domestic insurance practices.

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