SGS India Private Limited, Gurgaon

In addition to Full Outturn Guarantee services SGS also arranges marine insurance coverage for many commodities transported internationally. This coverage includes war, strikes, riots and civil commotion insurance and is placed on behalf and for account of the client with first class underwriters.

By guaranteeing the outturn weight of a consignment, SGS assumes the responsibility for weight differences between loading and discharge in accordance with the custom of the port and/ or contract terms agreed with the customer. Such losses can be attributable to customary trade losses, errors in weighing, gauging, measuring, theft or unknown factors not attributable to another party.

By guaranteeing the quality of transported goods to be within determined contractual parameters at discharge, variables inherent to sampling and testing methods can be avoided. SGS assumes responsibility for discrepancies in quality between loading and discharge under predetermined guarantee agreements which are related to the contractual parameters.

SGS can also provide protection against financial consequences of cargo rejection at destination. SGS then assumes the costs incurred when authorities at the discharge port reject a shipment. Expenses guaranteed include rerouting of the shipment, reloading of any offloaded cargo, demurrage and depreciation.

As an exporter you may often sell goods on terms where your customer (as the importer) is responsible for insuring, or at least bearing the risk of damage or loss of the goods. Seller’s Interest or Contingency Insurance covers for the risk of damage to the goods exposed during transit and that you as seller would still bear if the buyer is not properly insured or becomes insolvent.