Freight Forwarder’s Liability
The subject matter of the insurance – the liability of freight forwarders in fulfillment of their obligations for damages and financial losses caused to their clients.
Risks covered:
The liability of the freight forwarder stemming from:
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International conventions or national legislation which regulates its activity and/or
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The General Freight Forwarding Terms and Conditions or the General Warehouse Terms and Conditions of the Bulgarian National Freight Forwarding Association (NSBS).
The insurance coverage is valid worldwide and is provided based on the following clauses:
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Clause 01 – liability of the freight forwarder acting in its capacity as proxy and/or sales representative of the client under the General Freight Forwarding Terms and Conditions of the NSBS – for damages and financial losses sustained by the client due to mistakes and omissions of the freight forwarder.
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Clause 02 – liability of the freight forwarder acting in its capacity as operator under the General Freight Forwarding Terms and Conditions of the NSBS:
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for harm due to deficiency of or damages to goods;
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for mistakes and omissions of the freight forwarder-operator.
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Clause 03 – liability of the freight forwarder acting in its capacity as operator under the General Warehouse Terms and Conditions of the NSBS – for physical damage to or loss of goods and the ensuing indirect damages as well as for financial losses due to mistakes and omissions of the freight forwarder.
Upon request by the insured, the coverage can be expanded to include additional terms and clauses.