International trade Essay Example | Topics and Well Written Essays - 4000 words

International trade - Essay Example claim for the insured amount in correspondence to the losses incurred by Emma, the eventual happenings indicate that Abbe Insurers, the insurance company, have denied Emma for the payable because she has only paid 70 percentage of the total purchase amount. Subsequently, this discussion will focus on unfolding all the legal aspects regarding the terms mentioned within the Institute Cargo Clauses (A) 2009 and determining whether Emma will be liable for the insurance amount. The applicable laws in the aforesaid case scenario can be identified as the claiming policies mentioned within the Institute Cargo Clauses (A) 2009. This law was enacted as an international trade law with the prime intention of safeguarding the interests of both the insurance agencies as well as the buyers of the goods (Richards Hogg Lindley, 2009; Chuah, 2009). With reference to the referred case scenario, it is noteworthy that Institute Cargo Clauses (A) 2009 comprises of multiple sections based on the evaluation of which, the claimed amount can be ruled as deliverable or otherwise by the court. For instance, the guidelines concerning this law state that the insurance companies will have to provide a full coverage to any form of damage to the purchased or the transported goods, only if the damage conditions and the factors does not fall under the clauses 4, 5 6 and 7 (Hodges, 2013). Thus, it can be stated that if the reasons related to Emma’s loss does not coincide with the se four mentioned clauses, she will be liable for the insurance amount from Abbe Insurers. The detailed explanations of these clauses have been provided in the later sections (Richards Hogg Lindley, 2009). The mentioned terms within section 4.1 states that the insurance company will not be liable to pay the insured amount for any loss or damage to the goods that have been insured if the damage appears to have been incurred intentionally. In simple words, based on the enquiry that will be conducted by the Abbe Insurers,