Special Cargo Policy

Summary of Special Cargo Policy

A marine cargo policy issued to cover a specific shipment. A special policy may be issued when the shipper infrequently transports goods by water, or when the merchandise is so unusual or so valuable as to warrant a special policy. Frequent shippers customarily obtain an Open Policy (read this and related legal terms for further details).

(Main Author: William J. Miller)

Special Cargo Policy in International Trade

Meaning of Special Cargo Policy, according to the Dictionary of International Trade (Global Negotiator): A document used to that coverage is provided to cover loss or damage to cargo while in transit when insurance is placed against an open marine cargo policy. Usually is called cargo insurance certificate or insurance certificate. See insurance certificate; open marine cargo insurance policy; open policy.