An
insurance contract that accepts a ship or its cargo as collateral for a loan
funding a maritime voyage. In the event the ship is lost at sea, the loan is
cancelled and the borrower is not obligated to repay the lender.
An insurance contract that accepts a ship or its cargo as collateral for a loan funding a maritime voyage
An
insurance contract that accepts a ship or its cargo as collateral for a loan
funding a maritime voyage. In the event the ship is lost at sea, the loan is
cancelled and the borrower is not obligated to repay the lender.
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