Business risk
Open policy
Also: Floating policy
Transport contract that automatically covers all shipments that fit the agreed conditions.
In practice
The declaration is subsequent, by application or by regularisation, and therein lies its advantage: no shipment is left uncovered for not having been declared in time. In return, it requires discipline in regularisation.
Where it is addressed
This term is covered in Comercio internacional and applies when taking out Transportes.
