Marine Cargo and Delay in Start-Up (DSU) Cargo Construction Projects
Contact Information
Cargo
Name of insured parties including assured, lenders, financiers and contractors (including sub contractors):
Type of project:
Location of final site:
Period of cover required
Total value of equipment to be sent (please specify currency)
Maximum value shipped any one vessel.
What basis of valuation is required - i.e. CIF+10%?
Details of equipment to be shipped. Please provide a full inventory if available.
Who are the equipment suppliers and where are they situated?
What quality are the roads from discharge port to project site?
Is storage cover required at the project site under the cargo policy or will this be picked up under the CAR policy?
Delay in Start-Up
What is the projected start up date of the plant? (dd/mm/yy)
What indemnity period for DSU coverage i.e. maximum time in months that production could be delayed or disrupted following loss to a Critical Item?
What indemnity amount is required in respect of DSU (please specify currency) and please provide details of how this figure is made up - i.e. Debt Servicing, Standing Charges, Liquidated Damages etc.
Specify ALL Critical Items destined for the site including individual values (see definitions below):
Please complete the attached "Critical Items & Replacement Times Schedule" (see below)
Are any Critical Items second hand or reconditioned and are replacements available if lost?
Other than Critical Items built to specification are any items unique or built as prototype?
In the event of loss or damage to a Critical Item would manufacturers be able to repair or re-manufacture immediately? (If not, please specify replacement times)
In the event of delay to the Start-Up Date, can part or all of the lost Revenue/Gross Profit be earned by alternative means? If so, how and to what value?
Definition of Critical Items/Equipment
For the purpose of this proposal a critical item is defined as follows:
- Any single shipment with an insured value in excess of US$5 million
- Any equipment including packing with a unit weight in excess of 50 Metric Tons
- Any equipment which is stowed on deck, including Flat Rack and Open Top containers
- Barge shipments with an insured value in excess of US$1,000,000
- Any equipment, plant and materials which in the event of total loss during transit, cannot be re-manufactured/repaired, replaced, shipped, installed, tested and commissioned within 6 months.
Critical Items and Replacement Times Schedule