{"id":6308,"date":"2018-12-20T10:23:14","date_gmt":"2018-12-20T09:23:14","guid":{"rendered":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/?p=6308"},"modified":"2021-04-14T11:51:28","modified_gmt":"2021-04-14T10:51:28","slug":"award-1242","status":"publish","type":"post","link":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/2018\/12\/20\/award-1242\/","title":{"rendered":"AWARD 1242"},"content":{"rendered":"<p><strong>Award 1242 \u2013 Marine cargo insurance policy all risks cover \u2013 Theft in a rice cargo during warehousing \u2013 Collateral management agreement \u2013 Average adjuster \u2013 Damage estimate \u2013 Unexplained shortage \u2013 Lack of evidence \u2013 Insured\u2019s fault \u2013 Reduction of indemnity.\u00a0<\/strong><\/p>\n<p>Further to a theft with breaking in warehouses at Monrovia in a cargo of rice in bags, the Insured claimed to his Insurers an indemnity in reparation of the damage, to which the latter were opposed, asserting the Insured had no right on the goods at the time of the facts therefore had no interest in bringing proceedings.<br \/>\nThe arbitral tribunal considered that, even though the cargo was covered by a collateral management agreement and was pledged to banks, the Insured remained its owner. It was observed that, on condition that the goods were stored under a collateral management agreement, the policy extended its cover to theft and unexplained shortage and covered losses on goods due to be sold. However, if the average Adjuster report showed that a certain quantity of goods had disappeared in the warehouses, it did not give of it a precise valuation<br \/>\nfor want of getting from the Insured book-keeping data in order to know the exact number of bags sold and those missing. The Tribunal also pointed out that some obligations of the Insured in matter of security of the spot and management of stocks were not fulfilled. It finally decided to award the Claimant 50 % of the figure calculated in the average Adjuster report although the amount of shortage was not precisely well-defined.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Award 1242 \u2013 Marine cargo insurance policy all risks cover \u2013 Theft in a rice cargo during warehousing \u2013 Collateral management agreement \u2013 Average adjuster \u2013 Damage estimate \u2013 Unexplained shortage \u2013 Lack of evidence \u2013 Insured\u2019s fault \u2013 Reduction of indemnity.\u00a0 Further to a theft with breaking in warehouses at Monrovia in a cargo<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6308","post","type-post","status-publish","format-standard","hentry","category-non-classe"],"_links":{"self":[{"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/posts\/6308","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/comments?post=6308"}],"version-history":[{"count":1,"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/posts\/6308\/revisions"}],"predecessor-version":[{"id":6309,"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/posts\/6308\/revisions\/6309"}],"wp:attachment":[{"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/media?parent=6308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/categories?post=6308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.arbitrage-maritime.org\/CAMP-V3\/wp-json\/wp\/v2\/tags?post=6308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}