GLOSSARY OF TERMS – A to J
GLOSSARY OF TERMS – A to J · ADDITIONAL EXPENSES-STRIKES If the destination port is strike-bound at the time of arrival of the ship carrying cargo meant for that port, the shipowner may exercise his liberty granted by the contract of affreightment and discharge the cargo at the nearest alternate port and absolve himself of any further responsibility to the cargo. In such circumstances, the cargo owner may have to incur additional expenses in reforwarding the cargo from that port to the intended port of discharge. The ordinary cargo policy does not cover these expenses. If the cargo owner wishes to protect his interest against such eventuality, he has to avail an "additional expenses (strikes) cover" extension for all his shipments that may be effected during a period of 12 months. This extension will not be available for shipments if cover is sought when the strike has commenced in the particular area. · ...