Financial
Salvage
Rescue operation of a vessel, its cargo, or persons in danger at sea. The salvor has the right to a reward proportional to the value saved, shared among the owners of the vessel and cargo.
Rescue operation of a vessel, its cargo, or persons in danger at sea. The salvor has the right to a reward proportional to the value saved, shared among the owners of the vessel and cargo.
Rescue operation of a vessel, its cargo, or persons in danger at sea. The salvor has the right to a reward proportional to the value saved, shared among the owners of the vessel and cargo.
General Average
What is General Average, its role in foreign trade, and how it applies to customs operations in Mexico.
FinancialMarine Cargo Insurance
Policy protecting the insured against losses or damage to goods during maritime transport. Can cover from basic risks to all risks depending on the contracted ICC clause.
FinancialConstructive Total Loss
Situation where goods have not been physically lost but the cost of recovery, repair, or transport to destination exceeds their value. The insured may abandon the goods to the insurer and claim total loss.
FinancialSubrogation
Right of the insurer who has paid a claim to recover from the party responsible for the damage the amount paid to the insured. Allows the insurance company to recover funds from the party causing the loss.