DBS 190716: For any loss of or damage to the goods caused by Schenker, the parties are already in a discussion and eventually will be in agreement on the liability provision (at this stage Schenker propose THB2MB/occurrence and THB10MB in aggregate per annum), hence we don’t see any reason on why Schenker has to provide cargo insurance and incur additional costs to IMCT.
If any loss or damage occurred, IMCT will be compensated by Schenker following the conditions in Section 5.1.
Should IMCT insist on cargo insurance, Schenker shall assist to procure behalf of IMCT and the costs shall be passed on to IMCT.