Why do I need to provide Average Bond, if Maersk will be placing security on my behalf?
The ‘Average Bond’ establishes the identity and contact details of the receiving party in order to make contact after delivery, if necessary, regarding information about the goods. Further, the GA bond establishes a promise to pay, which in case of Value Protect cover will be fulfilled by Maersk.
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Related FAQsCan I protect my cargo financially against accidental damage during its cold journey with Maersk? Can I purchase Value Protect for Break Bulk cargo? Can Value Protect be applied to all commodities? How will I receive an invoice for Value Protect? If I have insurance already, why should I buy Value Protect? Is Value Protect insurance? What happens if the repair costs exceed the protected limit? What happens in case of General Average? Will I have to provide a bank guarantee or other documents? When can I add Value Protect to my booking? Which documents are required to submit the claim? Why would I need to worry about the safety of my cargo when I ship with Maersk?
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