Publisher's Synopsis
Excerpt from Encyclopædia of Accounting, Vol. 5
Prima facie Shipowners alone have an insurable interest in freight, and advances on account of freight subject to risk of voyage; or assignees of the ship but Charterers can insure freight if they recharter the Ship or put her up as a general ship, or if they carry their own goods, they can insure the profit they expect to make, and their insurable interest extends to the full amount of the freight, and not merely to the excess of that freight over what they have to pay the shipowner. Charterers may also insure dead freight which they are liable to pay under the charter-party, and also the advance freight.
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