DEAR ALL,
IF AN LC CALLS FOR AN INSURANCE POLICY, AND THAT INSURANCE IS PRESENTED. QUOTING THE COVERED AMOUNT IN TWO CURRENCIES IN OUR CASE UAE DIRHAM AND US DOLLARS (WHICH IS THE CURRENCY OF THE LC)
MOREOVER, THE INSURANCE POLICY STATES ''CLAIMS WILL BE PAYABLE IN THE CURRENCY OF THE LC''
IN THIS CASE IS THE DOCUMENT OK OR DISCREPANT?
THANKS IN ADVANCE
IMHO the insurance policy is complying
It's somehow similar with weight and chargeable weight in an AWB. It's additional infiormation, especially as it is explicitly written that the amount in USD supercedes.
-Each long journey starts with a small step-
Best regards
Frammi
Insurance Cert
Not a discrepany if it shows the value both in UAE and USD.
But make sure it should mention the coverage value in the currency of the LC.
Insurance
UAE Dirhams will be treated as additional. You are already giving sum insured in US Dollar(LC Currency) it will not be a discrepancy.
Imran Umer
IamImranUmer@gmail.com
Insurance policy need to prepare in the currency of L/C only
Insurance policy need to prepare in the currency of L/C only. Otherwise the documents will consider as discrepant.
Contact: tulsiusha1@yahoo.com or tulsipillaiex@hotmail.com
Regards Tulsi / Dubai
INSURANCE DOCS.
There ?s not any word?ng l?ke "ONLY" ?n art?cle 28F. As ? know UCP ?s not proh?b?t?ng add?t?onal ?nformat?on of currency ?n ?nsurance documents, so ? th?nk that the docs. are not d?screpant.
Regards,