Posted on July 20, 2013July 20, 2013
In marine insurance, every voyage policy (hull or cargo) carries an implied warranty that the vessel is seaworthy at the commencement of the voyage.
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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.