Sight Draft Endorsement
Summary of Sight Draft Endorsement
A provision in a contract of marine insurance designed to protect an exporter while his merchandise lies in a foreign port awaiting acceptance (read this and related legal terms for further details) of drafts by the importer. The assured may, by special arrangements with the insurer, extend coverage for a fixed or indefinite period upon payment of an additional premium.
(Main Author: William J. Miller)
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