Bao Viet Vietnam compensates for losses of dried soybean products exceeding 488 million VND

Uni-President Vietnam Co., Ltd. is the owner of 2,625 tons of soybean meal in bulk, as per Bill of Lading No. SL/A-10 dated August 9, 2005, transported on the vessel AMALIA, from the loading port of San Lorenzo (Argentina) to Khanh Hoi Port (Ho Chi Minh City – Vietnam).

Uni-President Vietnam insured this shipment with Bao Viet Vietnam under insurance policy No. 526/HN-TA-BV/2005 and amendment No. 01/526/HN-TA-BV/2005, ICC “A” insurance conditions.

The vessel AMALIA arrived at Khanh Hoi Port at 7:30 PM on September 26, 2005. Unloading of the 2,625 tons of soybean meal began at 1:00 AM on September 27, 2005 and concluded at 5:00 AM on October 4, 2005.

The inspection results conducted by FCC Inspection and Disinfection Company (the company designated by Bao Viet to conduct the loss assessment for the shipment) showed that: the condition of the cargo hold hatch and the goods before and after unloading, as seen with the naked eye, were normal.

The inspection results obtained during the unloading supervision, counting of bags, weighing of bagged goods, and loss assessment determined the following for the shipment delivered to Uni President Vietnam: the amount of goods short delivered was 14.79 net tons; the amount of goods damaged by water due to the failure to close hatch number 4 in time during rain at the port area was 11.86 net tons; and the amount of goods missing due to spillage that could not be recovered during unloading and/or natural loss during handling at the port was 100.38 tons.

Based on the insurance conditions, the issued insurance policy, and related documents, the aforementioned loss and damage to Uni President Vietnam’s soybean meal is covered by insurance; Based on the loss assessment report and the results of the loss settlement, Bao Viet Vietnam has compensated Uni President Vietnam with a total amount exceeding VND 487,352,000.

(Source: www.baoviet.com.vn)