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FLOTSAM

Posted on July 20, 2013July 20, 2013

Goods lost from a vessel which remains afloat.

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Usual & Customary Charge

The Usual & Customary payment levels that the insurance will consider. Also called Usual, Customary & Reasonable (UC&R) or allowable charge – usually based on geographic norms. In Cayman, see: SHIF.