Award 1191 – Rice in bags under B/L to order – Surrogate insurer – Loss payee clause – Admissibility (yes) – Assessment of loss. Despite some clerical errors in documents produced by the claimant, it appears from the facts that the seller received the indemnity on behalf of the buyer to whom he transferred it. Therefore, by virtue of the deed of subrogation delivered by the receiver, the insurer is entitled to claim. The carrier’s liability being undisputed, in the absence of official market prices, the arbitrators assessed the damages on the basis of the CIF price invoiced plus 5 %.
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