Thank you for your attached email of earlier today.
We understand that a new salvage offer of THB 9,285.71/unit has been received.
For normal claims, due to LGE Thailand being the owner of the salvageable cargo, any salvage amount received would be remitted directly to the owner, which in this specific case is LGE Thailand.
The salvage offer received would then be deducted from any Claim Amount presented to the Insurance Company for their attention – see example below;
10 x Televisions invoiced @ USD 100.00/unit = USD 1,000.00
Insured Value @ 110% = USD 1,100.00
Less Salvage Value Received = USD 200.00
Total Claim Amount = USD 900.00
However, we understand that in this instance, you would like the Salvage Buyer to remit funds directly to the Insurance Company.
I have therefore taken the liberty of copying Mr. Song from the Insurance Company into this email in order to obtain his comments.
Dear Mr. Song,
Due to LGE Thailand requesting the Insurance Company receive any salvage amount, please can you confirm that you are able to provide the necessary bank details required for the salvage buyer in order to remit funds to you directly?
We will then not include any salvage value within our Memorandum of Claim for your attention.
With thanks and kind regards,