1. Where is the hand-over point to Spoornet?
When Spoornet negotiates a
protection quotation with a customer:
l The risk attachment and detachment points in the supply chain will be when in control and custody of Spoornet.
l The specific information ie. scope of cover; special clauses; contract wording and premiums are confidential to the contracting parties.
The first loss protection cover that has been negotiated with Spoornet Intermodal Wholesale customers:
l Is an interim protection cover with the option to extend to full marine insurance.
l Is a substitution to the former liability cover applicable for rail transport. As with the former liability, for the first loss phase the risk attaches when Spoornet takes control and custody of the freight and detaches when the freight leaves the Spoornet terminal or is handed over to a third party.
2. What is the exact policy and contract wording?
Spoornet maintains a professional relationship with its customers. It will be unethical for Spoornet to disclose the exact policy and contract details agreed upon between the parties to a third party or the media. The Intermodal Wholesale customers at the time of signing of the agreement undertook to inform and clarify the first loss concept with their principals.
3. Actual limit of liability?
l The actual limits of the interim protection cover are as portrayed in FTW of 27 February 1998.
l As previously indicated Intermodal Wholesale customers have the option to purchase additional protection cover as required.
l Details of indemnity structures are as per institute cargo clauses.
4. Spoornet
communication with
associations
The relationship marketing focus of Spoornet results in building professional relationships with its customers and the non-disclosure of negotiated information between the parties. Spoornet will communicate with industries and associations on a 'need to know basis' and will foster and protect the relationship it has developed with its customers.
