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OPEN POLICIES

An open policy is a contract with an insurance company under which the insurance company agrees to afford protection on all shipments of an exporter, and the exporter agrees to declare all of his

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Loss, if any, payable to the order of..

endorsed on this Certificate,

which, upon said payment, is to be surrendered and assigned without recourse. It is understood and agreed that this Certificate represents and takes the place of the Policy, and contreys the rights of the Original Policy Holder (for collecting any loss or claim) as fully as if the property were covered by specia Policy, of the form in use by the undersigned, direct to the Holder of this Certificate, and free from any liability for unpalpreminjhs.

Attorney

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LICARBALL AND PUPLICATE ISSUED ONE OF WHICH

Coendersigned by

Marks and Numbers

In case of loss or injury (such loss or injury being caused by perils insured against to any part of a machine, consisting when complete, for sale, or use, of several parts, the Assurers sball be liable only for the insured value of the part lost or damaged.

Including (subject to the terms of the Policy) all risks covered by this Certificate from shippers' or Manufacturers' warehouse until on board the vessel, during transhipment, if any, and from the vessel whilst on quays, wharves or in sheds during the ordinary course of transit until safely deposited in consignces or other warehouse at destination Danied in Certificate, except that in respect to shipments to the River Plate, the risk of fire ander this insurance shall cease upon arrival at any Shed (transit or otherwise), Store, Custom House or Warehouse, or upon the expiry of ten (10) days, subsequent to landing, whichever may first occur.

Including risk of craft and/or lighter to and from the vessel, each craft and/or lighter to be deemed a separate insurance. The assured are not to be prejudiced by any agreemeut exempting lightermen from liability

Including all liberties as per contract of affreightment. The assured are not to be prejudiced by the present of the negligence danse and/or latent defect clause in the bill of lading and/or charter party. The seaworthiness of the vessel as between the assured and the assurers is hereby admitted

Warranted free of loss or damage caused by strikers, locked-out workmen or persons taking part in labor disturbances or riots or civil commotions.

Warranted free of any claim based upon loss of, or frustration of, the insured voyage or adventure, caused by arrests, restraints or de tainments of kings, princes or peoples,

General Average and Salvage Charges payable according to Foreign Statement or per York Antwerp Rules it in accordance with the contract of affreight ment.

Held covered, at a premium to be arranged, in case of deviation or change of voyage er of any omission or error in the description of the interest, vessel or voyage.

In case of damage from perils insured against, affecting labels only. loss to be limited to an amount sufficient to pay the cost of new labels and relabeling the goods, provided the same amounts to a claim uoder the terms of the policy.

(IMPORTANT)
La case of love a damage dain mart be immedhtely fled to
riting in the read or orber carrier, god . copy thereof ind of
the reply therete molecompany way daim presented under the in-
Parace policy, in addition to the usual certificate of too logued by the
tades writers' rent.

En cas de perte ou amire la réclamation doit être faite par berit
immédiatement contre le navire ou votre entrepreneur de transport, a
CD copie de la dite réciamation avec la réponse recue doit accompagner
toute reclamation soumise en verta de la police d'assurance, en dan da
certibcate de perte émis comme d'ordinaire par l'agent des assureur.
per crcrito contra la embarcación u otro porteador y una copia de en
reciamación de la repuesta correspondiente debe acoppa jar la
reclamación que se presente con la póliza de seguro, junto con el acor-
tumbrado certificado de pérdida expedido por el agente de los merun
dores

Figure 8.--Marine insurance certificate.

shipments to the insurance company and to pay the required premium thereon. This form of policy usually remains in force until canceled by either party and is the most convenient form for a merchant, as he knows it will not be necessary to go to the insurance company in connection with each shipment made, and the certificate of insurance or policy for each shipment is issued in the merchant's own office.

"AVERAGE”

The word "average" is customarily used to mean partial loss, and there are two kinds of average, namely, particular average and general average. Particular-average claims arise from accidental causes, such as stranding, collision, fire, sea-water damage, etc., while a general-average claim arises through some voluntary act of the master or officer in charge of a vessel, performed for the purpose of benefiting the entire venture, which consists of the ship, the cargo on board, and the freight to be collected at destination. Each of these interests pays its proportionate share of the general-average loss or sacrifice in accordance with the benefit derived from this sacrifice. This, of course, is represented by the value of the various interests at the port of destination. A fire occurring in the cargo of a ship gives a good example of a general-average sacrifice, for all of the damage done voluntarily on account of using water to extinguish the fire is considered as such a sacrifice. Damage to the cargo by fire is not a voluntary sacrifice, so the loss resulting from this cause constitutes a particular-average claim against the cargo underwriters.

WAR RISK

The risks of war, such as torpedoes, mines, capture by the enemy, etc., are not covered by a marine policy, although a casual reading of such policy might indicate the contrary. If protection against the risks of war is desired, a separate policy must be obtained and a premium paid for such protection. The insurance company insuring against marine risks will, if special request is made, include the war risks in the policy and charge an additional premium for this protection. It is not necessary that both these forms of policy covering one shipment shall be covered by one insurance company. War-risk rates vary as conditions change, but marine risks are usually more constant. There is no connection between war-risk rates and marine rates-sometimes one is high and the other low-but, generally speaking, war-risk rates are higher than marine rates.

INTERNATIONAL AIR-EXPRESS SERVICE

Air-express service to many countries of the world, with great saving of time, has been inaugurated within recent years and is being constantly extended. Export shipments will be received at approximately 23,000 stations in the United States and moved either by air or rail express to one of the international airports, where the shipment is transferred to a plane operating in international service. Regular air-express service is available to all the important cities of the West Indies, Mexico, Central and South American nations, Alaska, Canada, and Bermuda, with trans-Pacific service to Hawaii, the Philippines, Hong Kong, and to points in China; and transAtlantic air service is expected within a short time. The exporter also has available air-express service from the ports to the interior commercial points of most nations of the world; a number of ship companies and freight forwarders will act as agents in effecting such connections.

AIR-EXPRESS DOCUMENTS

The export declaration must be filed with all air shipments; while the Uniform Airway Bill is accepted by many nations, some nations require additional documents. The shipper by air express will find it advisable to consult traffic officials for the documentary requirements of the nation to which shipment is being made, as some nations require certain papers written in their language to be filed.

RATES AND INSURANCE

The weight or measurement charge, at carrier's option, per pound and the valuation charge per $100 is assessed on all shipments; the total of these two rates is the transportation charge. Insurance is optional with the shipper, who will find it advisable to insure all shipments from the international airport to ultimate destination. Rates on insurance are usually specified in the carrier's tariff sheets. The charges for transportation of shipments between interior points of the United States and international airports will be furnished by the express agencies.

SCHEDULES

The shipper will find it important to investigate the time of the plane's departure from the international airport, and dispatch his shipment to such point so that its arrival will allow sufficient time for transfer to the outgoing plane. Because of the increasing number of shipments, if a shipper desires carriage by a certain scheduled departure, it is advisable that space be reserved in advance, as shipments arriving without such reservations are usually carried in the order received, and those shipments which cannot be carried on that plane will be forwarded by following departures. All shipments above certain weight or dimensions should have space secured in advance to insure carriage by plane departing on a certain date. In all cases, shipments of unusual weight or dimensions should have space applied for in advance, as it may be necessary to make changes in the ship's storage compartments.

FOREIGN-TRADE ZONES AND FREE PORTS

UNITED STATES FOREIGN-TRADE ZONES

After more than 30 years of effort, the proponents of the foreigntrade zones movement in the United States were successful in obtaining, during the seventy-third Congress, enabling legislation providing for the establishment, operation, and maintenance of foreign-trade zones in the United States for the purpose of expediting and encouraging foreign commerce. The law, which was approved on June 18, 1934, created a Foreign Trade Zones Board, referred to hereafter as "thé Board,” to administer the act, consisting of the Secretary of Commerce, as chairman, the Secretary of the Treasury, and the Secretary of War. Although foreign-trade zones are new in the history of American trade, they have for many years been used in foreign countries; abroad they are referred to as “free ports," the most widely-known one being at Hamburg, Germany.

PURPOSE OF ZONES

The purpose of these zones is to encourage the foreign commerce of the United States by facilitating the handling of goods designed for reexport and transshipment, especially those goods which require some processing or assembling or intermixing with American products. The law provides that the foreign-trade zones be segregated, guarded areas, self-sufficient as to warehouse, terminal, and other facilities, into which commodities may be brought to be stored, or subjected to such manipulations as the law permits, and then be brought into customs territory, or be transshipped or reexported with a minimum of expense and legal restriction. The charts shown herewith are examples of the type of segregation which the Board has approved.

FOREIGN-TRADE-ZONES LAW

Section 3 of the Foreign-Trade-Zones Law provides that both foreign and domestic merchandise of every description, except such as is prohibited by law, may, without being subject to the customs laws of the United States, except as otherwise provided in the law, be brought into a zone and may be stored, broken up, repacked, assembled, distributed, sorted, graded, cleaned, mixed with foreign or domestic merchandise or otherwise manipulated, and be exported, and foreign merchandise may be sent into customs territory of the United States therefrom, in the original package or otherwise; but when foreign merchandise is so sent from a zone into customs territory of the United States it shall be subject to the laws and regulations of the United States affecting imported merchandise. The law prohibits the manufacturing or exħibiting of merchandise within a foreign-trade zone.

PRIVATE AND PUBLIC ZONE CORPORATIONS

Under the provisions of the law, both public and private corporations may make application to the Board for the privilege of establishing a foreign-trade zone. In the case of a private corporation, authority for filing an application must first be obtained from the State legislature of the State in which it is proposed to establish the zone.

THE NEW YORK ZONE

The first grant of the privilege of establishing a foreign-trade zone was made to the city of New York on January 29, 1936. This zone, which is located at Stapleton, Staten Island, N. Y., was opened for business on February 1, 1937. This zone embraces 5 piers and the adjacent upland territory consisting of a total land and water area of approximately 96 acres. The land area, exclusive of the piers, embraces about 18 acres. The commodities handled initially in the zone have consisted of such goods as woolens, straw and hemp braid, paper cloth, copra, steel cables, lumber, tapioca and sago flour, watchmakers' supplies, tobacco, garbanzo beans, and optical goods. The New York zone is under the immediate supervision of the Commissioner of Docks of the city of New York, who is at the present time in charge of the operation of this facility. (See fig. 9.)

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FOREIGN-TRADE ZONE NO.1 STAPLETON. STATEN ISLAND, NEW YORK

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Figure 9. -New York Foreign Trade Zone.

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