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Demurrage Extension

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DEMURRAGE EXTENSION
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Demurrage / Detention Costs Extension (If included in the policy schedule)

Demurrage / Detention Costs Extension (If included in the policy schedule)

What is Demurrage/Detention?
What is Demurrage/Detention?

Demurrage / Detention are costs charged to the Consignee, by the shipping line, due to the extended use of the container(s) after the agreed transit agreement. I.e.: Late return of the Container(s).

Demurrage / Detention are costs charged to the Consignee, by the shipping line, due to the extended use of the container(s) after the agreed transit agreement. I.e.: Late return of the Container(s).

Introduction

Introduction

Transit offers a great extension to our policy holders for demurrage/ detention costs. We will cover demurrage / detention charges brought against you up to a maximum of R 50 000 per Container in addition to the Goods Sum Insured where these are incurred due to:

• The container(s) being retained by You on Our instruction for the purposes of inspection following a claim / incident.
• Delivery to the incorrect address.
• Container(s) stolen and not reported to shipping line / container terminal.
• Container(s) held by Customs or any similar Government department, unless it is proven that the goods were (by any means) fraudulent. Excluding the Actual Customs Costs.
• Excluding any consequential loss.
• Only applicable to Your own vehicles.

The demurrage / detention costs for which Insurers will be liable begins from the first day
after Your free days applicable. The free days will not form part of the claimable amount.

Transit offers a great extension to our policy holders for demurrage/ detention costs. We will cover demurrage / detention charges brought against you up to a maximum of R 50 000 per Container in addition to the Goods Sum Insured where these are incurred due to:

• The container(s) being retained by You on Our instruction for the purposes of inspection following a claim / incident.
• Delivery to the incorrect address.
• Container(s) stolen and not reported to shipping line / container terminal.
• Container(s) held by Customs or any similar Government department, unless it is proven that the goods were (by any means) fraudulent. Excluding the Actual Customs Costs.
• Excluding any consequential loss.
• Only applicable to Your own vehicles.

The demurrage / detention costs for which Insurers will be liable begins from the first day
after Your free days applicable. The free days will not form part of the claimable amount.

Premium

Premium

Transporter / Insured (Own Vehicle basis) : R75 per vehicle per month

Transporter / Insured (Own Vehicle basis) : R75 per vehicle per month

Excess

Excess

10% of claim, each and every claim

10% of claim, each and every claim

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ABOUT US

Transit Underwriting Managers is a specialized underwriter, focused exclusively on the goods in transit insurance market.

FORM DOWNLOAD

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CONTACT US

Telephone Number: 086 111 3597
Email Address: underwriting@transitum.co.za

ON ROAD SOLUTIONS CALL CENTRE | 087 230 0815 or WhatsApp 076 138 5199
TIP OFF ANONYMOUS | 0800 00 32 28

ABOUT US

Transit Underwriting Managers is a specialized underwriter, focused exclusively on the goods in transit insurance market.

FORM DOWNLOAD

________________________________

________________________________

________________________________

CONTACT US

Telephone Number: 086 111 3597
Email Address: underwriting@transitum.co.za

ON ROAD SOLUTIONS CALL CENTRE | 0860 44 44 11 or WhatsApp 076 138 5199
TIP OFF ANONYMOUS | 0800 00 32 28