Transit Damage & Marine Insurance Policy

Transit Responsibility

• All goods are carefully packed and dispatched from our warehouse after quality and quantity verification.
• Risk and responsibility during transportation shall be governed by the agreed delivery terms mentioned in the quotation, sales order, or invoice.

Marine Insurance Coverage

• Marine insurance will be arranged only if specifically requested by the customer and charged separately in the invoice.
• Insurance coverage, if applicable, shall be subject to the terms and conditions of the insurance company.

Inspection Upon Delivery

• Customers must inspect the material immediately upon receipt.
• Any shortage, leakage, damage, tampering, or transit-related issue must be noted on the transporter’s delivery receipt (LR/POD) at the time of delivery.

Reporting Transit Damage

• Any transit damage, shortage, or leakage claim must be reported to the company within 24 hours of delivery.
• The customer must provide:
• Delivery receipt copy
• Invoice copy
• Photographs/videos of damaged material
• Details of shortage or damage
• Transporter information

Claim Process

• For insured consignments, claims shall be processed according to the insurer's procedures and documentation requirements.
• The customer must cooperate in providing all necessary documents and evidence for claim settlement.

Exclusions

Claims may not be accepted in the following situations:

• Damage reported after the prescribed reporting period.
• Material accepted without noting damage or shortage on the delivery receipt.
• Improper storage, handling, or unloading by the customer.
• Natural evaporation, minor leakage within permissible limits, or normal transit loss where applicable.
• Force majeure events beyond reasonable control.

Liability Limitation

• The company's liability, if any, shall be limited to the value of the affected material.
• The company shall not be liable for indirect losses, production losses, business interruption, loss of profit, or consequential damages.

Resolution

Upon verification and approval, the company may, at its sole discretion:

• Replace the damaged material,
• Issue a credit note, or
• Assist with the insurance claim process, where applicable.

Note: Customers are strongly advised to opt for marine insurance coverage for high-value consignments to protect against transit-related risks and losses.
Akshar Petrochem Industries reserves the right to modify this policy without prior notice.