GENERAL POLICY – a policy, pursuant to conditions of which insured are considered all the goods received or dispatched by the insured during a certain term within liability of the insurer. The insured is entitled usually to inform the insurer the following about every dispatch of goods, fallen under the general policy: name of vessel on which the goods are dispatched, travel line of the goods and the sum insured. Insured is not exempted from this duty even though he / she receives information about the goods dispatch after their delivery to destination point in intact condition.
GROSS-PREMIUM – amount of insurance payments, calculated upon gross-rate
GROSS-RATE – full tariff rate of insurance contribution (insurance premium) without any discounts and deductions, as distinct from net-rate.