BẢO GIA LÊ

Revision questions:
1. Distinguish Risks and Loss. Give an example.
Khong bik
2. Distinguish total loss and constructive total loss.
Actual total loss: A loss that occurs when the insured property is totally destroyed or
damaged in such a way that it can neither be recovered nor repaired for further use, or
the insured is irretrievably deprived of it. Usually, this indicates the maximum
settlement possible according to the terms of the policy.
Constructive total loss: A constructive total loss happens when the subject-matter
insured is reasonably abandoned. At the time of loss, it is partial loss but its actual total
loss appearing to be unavoidable or because it could not be preserved from actual total
loss without an expenditure that would exceed its value when the expenditure had been
incurred.

3. Distinguish PA and GA

4. A vessel worth 2,000,000 USD carrying an export shipment of 500,000 USD. In

voyage, the vessel was stranded and a part of goods valued 35,000 USD was damaged.
To go out of the stranding place, the master ordered to jettison the goods of 65,000
USD into the sea.
Pls adjust the G/A to involved parties.
1/ tổng GA = 65
2/ tổng CV
CV ship = 2000
CV cargo = 500 - 35 = 465
Tổng CV = ship + cargo = 2465
3/ P= tổng GA/ tổng CV = 13/493
4/ Contribution : mức đóng góp
C shipowner = PxCvship = 52,738
C cargo owner = PxCVcarrgo = 12,262

Cthuc nhanh = (tổng GA/ tổng CV)x(CV từng phần)

5/ final result : mức đóng góp - P/A

Shipper pay = 0 – 52,738 = -52,738
Cargo owner receives : 65,000 – 12,262 = 52,738

5. In marine adventure, a vessel of 1,200,000 USD carrying goods A, B, C valued at

300,000; 600,000; 50,000 USD respectively. The vessel was exposed to a typhoon. To
avoid being blown unstably in the sea, the master intentionally steered the vessel to
stranding place, and later he had to jettison some goods into the sea to move out of this
place. The situations were as below:
- Goods A were jettisoned: 200,000 USD (G/A)
- Goods B were wet due to entry of rain water when the vessel was exposed to typhoon:
400,000 USD (P/A)
- Goods C were jettisoned: 50,000 USD (G/A)
- Expenses in relation to the additional wages of crew, towing the vessel out of the
stranding: 50,000 USD (G/A)
- Breakdown machine due to being pushed working so hard to move out of the
stranding: 100,000 USD (G/A)
Pls adjust the G/A.
=> G/A = 200,000 + 50,000 + 50,000 + 100,000 = 400,000
P/A = 400,000

Cv ship = 1,200,000
Cv cargo = 550,000
P = 400,000/1,750,000 = 8/35
Contribution:
- C ship = 8/35 * 1,200,000 = 274,285.7
 - C cargo A = 8/35 * 300,000 =68571.4
- C cargo B = 8/35 * 200,000 = 45714.3
- C cargo C = 8/35 * 50,000 = 11428.6
final result
shipper = 150,000 - 274,285.7 = - 124285.7
cargo owner A = 200,000 - 68,671.4 =131,328.6
cargo owner B = 0 - 45714.3 = 457143
cargo owner C = 50,000 - 11428.6 = 38571.4

6. The ship was stranded because of bad weather. To preserve the vessel and all cargoes
from this common peril, the master intentionally acted as below:
- Hire the lighter to unload the goods to lighten the ship
- Jettison some goods into the sea to refloat the ship
- Hire the salvage ship and push the machinery and boiler to propel the ship out of the
stranding.
When the ship arrived an adjacent safe port, the master declared G/A.

Knowing that
a/ Damage of hull at the time of being stranded: 120,000 USD (P/A)
b/ Damage of the machinery due to being pushed to propel the ship out of stranding:
40,000 (G/A)
USD
c/ Cost of hiring the lighter for unloading, reloading the goods back the ship: 20.000
USD (G/A)
d/ Cost of hiring the salvage ship: 40,000 USD (G/A)
e/ Value of goods jettisoned: 12,000 USD (G/A)
f/ Damage of the goods by unloading, reloading from the lighter to the ship: 8,000
USD (G/A)
g/ Value of goods washed overboard the ship when the ship was stranded: 50,000 USD
(P/A)
h/ The remaining value of the ship on arrival: 1,560,000 USD
i/ The remaining value of goods on arrival : 780,000 USD
G/A ship = 40000 + 20000 + 40000 = 100000
G/A cargo = 12000 + 8000 = 20000
Cv Ship = 1600000
Cv Cargo = 800000
P = 1/20
compensation :
- Cship = 80000
- Ccargo = 40000
final result
ship = 100000-80000 = 20000
cargo owner = 20000 - 40000 = -20000
C : e B: f, g A: e, f, g
Revision questions:
1. Distinguish the risk covered in insurance clauses C, B, A
2. Present steps to effect insurance for a consignment.
Present steps to effect insurance for a consignment.
- Submission of form from cargo owner.
- Acceptance by the insurance company
- Issuing insurance document by the insurer
- Payment of premium (I) by the assured

3. Value of a shipment 2,000,000 USD (understood as CFR price) which is insured for its
total CFR value, R = 0.5%. Pls calculate I
=> I=R.A = 0,5%*2,000,000 = 10,000
4. Value of a shipment 2,000,000 USD (understood as CFR price) which is insured for its
total 110% CIF value, R = 0.5%. Pls calculate I.
A= 110% CIF = 110%*(CFR)/(1-R) = 110% *(2,000,000)/(1-0,5%)= 2,211,055.2
I=R*A = 0,5% * 2,211,055.2 = 11,055.2763
5. A shipment of 10,000 USD is insured with the amount 8,500 USD. Damaged value in
transit caused by the agreed risks is 8,000 USD. Pls calculate the amount of
compensation.
=> ratio of damage = 8,000/10,000 = 0.8
=> amount of compensation = [(damage value/total)*A - deductible ]
= 0.8 * 8,500 = 6,800 USD
6. A shipment of 10,000 USD is insured for full value, deductible amount indicated in the
insurance is 1,500 USD. Damaged value in transit caused by the agreed risks is 8,000
USD.
Pls calculate the amount of compensation.
=> amount of compensation = [(8/10000 * 10000) - 1,5000 ]
7. A contract of insurance has the data as below:
• Insurable value: 10,000 USD
• Insurable amount: 8,000 USD
• Deductible: 5 % of value of the loss, damage (but not less than 500 USD)
• Damaged value: 3,500 USD
 Pls calculate the amount of compensation?
=> amount of compensation = [(3,500/10,000)*8,000] - 500 = 2300 USD
8. Company X importing 400,000 bags of wheat powder with value 3,200,000 USD
(understood as CIF) had concluded a contract of insurance with ICC-2009- clause A for
110% value of the above shipment. On arrival, the conditions of the goods are as below:
7,000 bags were wet (in which 5,000 bags were soaked and totally damaged; 2,000 bags
were partially damaged and reduced by 30% value)
3,000 bags were torn which led to a reduction in value of 30% of these bags (there is a
remark in the Bill of Lading that “bags are rotten, some are torn”)
a/ What is the amount which the insured can claim from the insurer?
the number of bags insured = 5,000 + 30% * 2,000 = 5,600 bags
ratio of damage = 5,600/400,000 = 0,014
A= 110%CIF = 1,1*3,200,000 = 3,520,000
amount of compensation = ratio of damage*A = 0,014*3,520,000 =49,280 USD
b/ Which documents the insured must present to the insurer for compensation?
The documents required for any claim are as follow:
- Intimation to the insurance company
- Insurance policy/certificate
- Bill of lading
- Invoice
- Survey Report
- Debit Note
- Copy of sea protest
- Letter of subrogation
Bai tap
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BAI LAM
1. C
2. d
3. a
4. A
5. D
6. D
Từ bỏ hàng (abandonment) là hành động của người được bảo hiểm
tuyên bố từ bỏ mọi quyền lợi của mình đối với đối tượng bảo hiểm để
được bồi thường toàn bộ nếu tổn thất toàn bộ ấy là không thể tránh
khỏi hoặc việc khắc phục tổn thất đó sẽ gây ra các chi phí cao hơn giá
trị của đối tượng bảo hiểm.
7. D
8. ? A
9. B
10. C
11. A
12. C

Câu 2
 w/m O/F B/L THC EBS CFS fee Fee Total

An 7 210 25 31.5 31.5 17.5 315.5 534

Nam

Anh 3 90 25 13.5 13.5 7.5 149.5

Thy

Lana 1 30 25 4.5 4.5 5 69

FWD revenue = 534

FWD cost = 30*11 + 25 + 4.5*11 + 4.5*11 + 5*5 + 2.5 = 481.5
=> FWD profit = 534 - 481.5 = 52.5
b) total kgs = 7640 kgs
=> Giá cước An Nam = 0,8
=> Giá cước Anh thy = 0,8
=> Giá cước Lana = 1

Thu An Nam = (0,8 + 0,3 + 0,1)*5,000 = 6000 USD

Thu Anh Thy= (0,8 + 0,3 + 0,1)*2120 = 2544 USD
Thu Lana = (1 + 0,3 + 0,1)*520 = 728 USD
=> FWD revenue = 9272 USD
FWD cost = (0,8 + 0,3)*7640 = 8404 USD

=> FWD profit = 9272 - 8404 = 868 USD

Câu 3:
a) P/A =
G/A = 2500 + 1000 + 11500 + 5000 + 1000 = 21000
Cvship= 67500 + 2500 = 70000
Cvcargo = 134000 + 1000 + 5000 = 140000
= > Cv total = 210000
P= 1/10

contribution:
Cship = 7000
Ccargo = 14000

final result:
ship receive = 2500 + 1000 + 11500 - 7000 = 8000
cargo owner pay = 5000 + 1000 - 14000 = -8000
 ĐỀ 2019

1. C
2. B
3. B
4. A
5. A
6. D
7. D
8. C
9. C
10. C
11. B
12. D
IN THE CHARTER PARTY, THE STATED QUANTITY: 10,000 MT + 2% MOLOO.