A system of protection against loss under which a party agrees to pay a certain sum (premiums) for a guarantee that they will be compensated under certain conditions for loss or damage
Sabelatrans Shipping Global SSG(Specialized in Shipping/Transportation of Heavy Lift, RoRo & Project forwarding by Sea , Air & Land), Shipping Terms, Ajman, UAE 2013. http://www.sabelatrans.com/shipping_terms.htm, (Log - Brit) {1030}