CARM: What all importers need to know about CARM

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Report Lost and Damaged Cargo to your Forwarder, Carrier and Insurer as soon as possible

Any loss or damage to cargo should be reported immediately to the company or the company’s nearest settling agent.  A cargo surveyor is usually appointed to determine the nature and extent, if the amount of the loss or circumstance warrants.  The faster one acts, the greater the probability of recovery.

     Gary Jin, Ocean Services – Imports
 

Gary Jin,
Ocean Services – Imports

Quick Tip #14
Don’t just insure the value of the goods

When insuring your freight, you are fully entitled to value your goods at a price above the base cost. Valuation of goods may include all freight charges, related costs, plus 10% (or more) to cover the administrative burden of processing a claim and to cover the insured’s profit. Since duty is still payable on damaged goods, make sure you insure the amount of duty as well.

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