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Insurance covering your legal liability whilst providing services of any kind relating to the carriage, consolidation, storage, handling, packing or distribution of third party goods and subject to your Standard Trading Conditions.
Covers Shipping Agents legal liability arising from the damage to third party goods whilst they are in their custody and control.
However, unless the Shipping Agent can be found to be legally liable in relation to their negligent handling of the goods then there is no compensation due to the owner of the damaged or lost goods.
In circumstances where the Shipping Agent is found to be negligent, then the compensation available is limited to their standard trading conditions and payments are calculated applying a rate per kilo in respect of goods lost or damaged.
The conditions contained within these terms are the basis of any contract between the Shipping Agent and the Freight Forwarder/Manufacturer, unless otherwise agreed.
Some Shipping Agents require increased limits, but again this is still only in relation to incidents, in which they are found to be legally liable.
It is important for the Shipping Agent to extend their insurance policy to include these increased limits otherwise the Shipping Agent will be assuming liability beyond the limits under the Standard Trading Conditions covered under the policy and will be left exposed for the difference.
