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Insurance of handling operations

Article 11: A-The shipping agent and/or the receiver when benefitting from the handling operation relative to the reference N6 up to N9 and/or Q6 up to Q9 is charged an extra insurance premium amounts to US$ 10 for each ton and for each operation with minimum of US$500. Moreover he is also charged this insurance premium according to the same basis for each operation requesting special arrangements, due to the exceptional situation relative to volume, value or fragility .

B- In case of expensive parcels (heavy lifts or yachts or others), (which value exceeds 500 000 $), item A is not to be applied, and the shipping agent and/or the receiver should provide the port management with an invoice of the cargo to determine the amount of the insurance policy due for payment to the insurance company contracting with the port management.

C- The shipping agent or the cargo owner (or his representative) is liable for abstaining from reporting to the port management about any heavy lift or yacht or parcel subject to item B above or any manipulation of the goods’ value.

D- The amount of insurance policy relative to cargo discharged by vessels own gears is determined in accordance with the same basis of item A above, aiming to cover the risks which may be encountered by the port installations and equipment, excluding the damages on cargo.
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