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Customs Shipping and Insurance-2-NMIMS Solved Assignment

Customs Shipping and Insurance-2-NMIMS Solved Assignment

Q1. Sri Plastics imported one consignment on FOB basis. The consignment consists of 100 boxes. However at the time of examination it was found that 5 boxes were missing. Sri Plastics contacted the exporter and exporter confirms that they have handed over all 100 boxes for which Bill of Lading was issued.

 

Please examine the case and explain the procedure to cover this loss.

 

Q2. Your Company has imported one consignment of 1000 kg consisting of 20 wooden cases. Your Customs broker has processed the customs clearance under second check, paid the duty and went for examination. During examination it was detected that the consignment has 22 boxes with the weight of 1100 kg.

a. How will you handle this case?

b. How customs will view this discrepancy?

 

Q3. XYZ Company imported one consignment in a 40’ container and after customs clearance they have transported the consignment in 3 trucks and moved to Indore. However one truck met with an accident and materials have been stolen. The INCO terms was CIF upto port.

a. Explain whether the importer can claim the loss from insurance?

b. If not, what is the mistake of importer? Explain the details

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