ACORD 193 Fraud Warning and Signatures

How to Complete the ACORD 193 Open Cargo Signature Section

The fraud section is the top two thirds of the ACORD 193 second page.

This is a group of Fraud Warnings. Before you sign, and especially before your customer signs this document, you should review this section. That is just good basic business practice.


Signatures

At the very bottom of the 2nd page is a place for the Applicant's Signature and next to it a space to have the insured date their signature.

Above the Applicant's Signature is the place for you - the agent - to sign. Just to the right of your signature you should print your name.

To the far left in your signature row is a box for your State Producer License Number.

Finally there is a box for your National Producer Number if your agency has one.


If you are using our Cap Dat ACORD services we have an electronic, or e-signature, feature available to you.

Click here to learn more about the Cap Dat ACORD e-Signature feature.


All our ACORD forms are pre-loaded with e-signature fields.You can email a link to the form to your insured. They can then review and sign the form on a tablet, smart phone or most current browsers. This gives you an extra level of legal documentation on the time and date of the signature. It can also save time.


I hope this has been helpful in your learning how to complete the ACORD 193 Open Cargo Section.


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ACORD 193 Additional Coverage, Exclusions and Remarks

How to Complete the ACORD 193 Open Cargo Additional Coverages, Exclusions and Remarks

ADDITIONAL COVERAGES

Check the boxes for any of the additional coverage you want included in this policy.

RETURNED / REFUSED - Sample Wording for Returned or Refused Coverage:

This policy also to cover shipments insured for the original voyage which have been Returned/Refused by the consignee. Such shipments are held covered subject to the terms and conditions stated herein, until:(i) disposed of by the Assured, or (ii) returned to the original point of shipment, provided such shipments remain in original packing. It being understood and agreed that notice must be given to the Company by the Assured as soon as refusal of acceptance is known to them.

FOB SHIPMENTS: FOB stands for Free On Board. Here is a good definition.

Sample Wording for FOB Shipments Coverage:

This policy is extended to cover:

A: The Assured's interest only in shipments sold by the Assured on F.O.B, F.A.S, Cost and Freight, or similar terms whereby the Assured is not obligated to furnish marine insurance, subject to this policy;s terms and conditions and continues until: (i) the goods and/or merchandise are loaded on board the overseas vessel, or (ii) until the Assured's interest ceases, whichever shall first occur.

B. The Assured's interest only in shipments purchased on F/O.B. or F.A.S port of arrival or similar terms whereby the Assured is not obligated to furnish marine insurance, subject to this policy's terms and conditions while in transit from the port of arrival in the United States by railroads or railroad express and connection conveyances and by licensed public motor truck carriers. To attach and cover from the moment the merchandise and/or goods leave from the port of arrival, and to cover continuously thereafter in due course of transit until delivered to final warehouse or until the Assured's interest ceases, whichever shall first occur.

FRAUDULENT B/L & RECEIPT: B/L stand for Bill of Lading.

WAR: This would provide coverage for loss resulting from acts of was.

DUTY: This covers the risk of partial loss by reason of perils insured against on the duties imposed on goods imported into the United States.

DE/CONSOLIDATION: This stands for Deconsolidation and Consolidation.

The insurance provided covers goods insured while on the premises of freight forwarders, export packers, consolidators, truckers, warehousemen or others for the purpose of storage incidental to transit, packing or repacking, consolidation, deconsolidation, distribution or otherwise anywhere in the world whether prior to loading or after discharge from overseas vessel for a period not exceeding 30 days after arrival at such premises.

BRANDS / LABELS:

Brands sample coverage wording...

In the event of loss or damage to property insured bearing and brand or trademark, the sale of which in any way carries or implies a guarantee, the salvage value of such damaged property shall be determine after the removal of all brands and any trademarks.

Labels sample coverage wording...

In case of damage affecting labels, capsules or wrappers, the Company, if liable, shall not be liable for more than an amount sufficient to pay the cost of new labels, capsules or wrappers and the cost of reconditioning the goods.

PAIRS /SETS: Physical loss of or physical damage to any one item of the goods and/or merchandise under this policy which consist of items in a pair or set, shall constitute a total loss of such pair or set.

DIC: Difference in Conditions. With respect to shipments purchased by the Assured on C.I.F. or similar terms, whereby ocean marine insurance is arranged by the seller and/or others, this policy is extended to cover the difference in conditions between such other insurance and the conditions of insurance for which the merchandise would otherwise have been insured hereunder. All shipments covered hereunder shall be valued and reported at the amount of the seller's insurance.

OTHER: List any other which apply to this application.


EXCLUSIONS

Check the check boxes for any of the following exclusions you want to apply to this policy.

MARRING, DENTING, CHIPPING & SCRATCHING

BREAKAGE

RUST

DISCOLORATION & OXIDATION

MECHANICAL / ELECTRICAL

OTHER - describe other.


REMARKS

This is a free forms text section for you to elaborate on any items above which did not provide enough space in the form.

If you need even more room you should use the ACORD 101 Additional Remarks Schedule


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ACORD 193 Open Cargo Section - Interest, Conveyance and Operations

How to Complete the ACORD 193 Interest, Conveyance and Operations Sections

INTEREST: This defines your insured's interest in the property being shipped. Select one of the following by checking the appropriate box.

1. FREIGHT FORWARDER
2. SHIPPER OF OWNED PROPERTY
3. IMPORTER
4. EXPORTER
5. OTHER - if you check this box add a text description.

CONVEYANCE USED: Describe the type of transportation which will be used to move the property insured under this policy. Examples, container ship, barge, etc.


OPERATIONS

PROPERTY SHIPPED:  Provide a text description of the property being shipped. If this is a large shipment of various items you may want to attach a spreadsheet with a description of all items.

POINTS OF ORIGIN: Where did the shipment originate? More to the point, at what physical location does the coverage begin. If there are separate items picked up along the way, associate each item with its point of origin.

POINTS OF DESTINATION: Where is the shipment begin taken. When does this coverage end. If there are separate items delivered to separate destinations, associate each item with its destination.


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How to Complete the ACORD 193 Open Cargo Section

ACORD 193 Open Cargo Section

The Open Cargo Section is used in combination with the ACORD 125. This form is used to provide basic information on marine coverage - coverage for items being shipped by watercraft.

Basic Account Information

The form begins with the following basic account information section.

This information should already be in the ACORD 125 form, and systems like our Cap Dat ACORD service will automatically pull this information into this form. The information needs to be entered even if attached to the ACORD 125 in case the documents become separated.

AGENCY CUSTOMER ID: This is the ID number your agency management system may have assigned. Many older systems still use this technology instead of names.

DATE (MM/DD/YYYY): Enter the date you are completing this form.

AGENCY: Your agency name. If your name is also used by other agencies with whom your underwriter may also work, it is a good idea to at least also add your city and state.

CARRIER: The name of the insurance carrier to whom you are sending this application.

NAIC CODE: NAIC stands for the National Association of Insurance Commissioners.

They assign each insurance company a five digit code. You can search for any insurance company by name on their website at this page...

http://www.naic.org/index.htm

POLICY NUMBER: If this is a new application, there will most likely be no policy number assigned yet. So leave this space blank. If this is a renewal, enter the existing policy number.

EFFECTIVE DATE: The date you want the coverage to begin.

APPLICANT / FIRST NAMED INSURED: Enter your customer's legal name in the format they would need it to appear for a certificate of insurance.


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