Marine Cargo

An exporter, also a business owner and a seller, had a sales contract with his foreign buyer. The exporter managed to deliver the goods in good condition as per contract. Unfortunately, the buyer failed to make payment after the delivery. The exporter then used the policy to pursue the buyer and managed to recover the outstanding debt.

An exporter, also a business owner and a vegetables supplier, entered into a logistics contract with a freight forwarder. The freight forwarder failed to fulfill certain conditions as stated in the contract such as providing the hail netting to cover the goods. Due to the freight forwarder’s negligence during the transit, the goods were damaged. The exporter then used the policy and convinced the court that the incident had caused him financial loss due to the shortfall in payment from his client after the freight forwarder failed to deliver the goods in good condition.

A business owner, also a buyer and an importer, made a deposit payment for shipment of fresh fruits. The seller however failed to ship the cargo on time as per contract agreement and delivered the Mandarin Oranges after the Chinese New Year season which significantly reduced the customers’ demand. Due to the delivery delay, the business owner refused to honour the balance payment. To recover the unpaid payment, the seller brought this matter to court. As a policyholder of the Legal Shield Insurance, the business owner covered his legal cost to defend the claims in court and negotiated the balance payment at a lesser amount to the buyer.