A development strategy adopted in 1978 by the Chinese government, based on active participation in the world market. Under this policy, the government has sought to in-crease foreign trade, encourage technology transfer, and promote direct foreign investment in China. It has also tried to become more active in international organizations, and to encour-age study and training abroad. The "Open Policy" has also led to greater openness to outside cultural influences.
An insurance contract on a specified risk or group of risks, in which the amount and terms are not specified, and under which reports of individual amounts insured and periods of coverage are made to the insurance company by the insured. More properly called open certificate. (See also: open certificate.)
Describes the relationship between Affiliates and Merchants on Paid On Results. By allowing and encouraging dialogue, profits can be maximised and misunderstandings kept to a minimum.
A marine cargo insurance policy issued to cover various unspecified exports over the life of the policy.
See Marine Cargo Insurance
Policies containing all terms and conditions, but which separately record the amount and term of each risk to be covered. Also, a term used to describe policies written with no natural expiration date, but which stay in effect until cancelled.
A cargo policy with no expiration date that provides automatic coverage of cargo to or from an Assured in a specified trade at agreed rates, terms, and conditions. Usually consists of separate Marine and War policies.
This is a term commonly found in Marine Cargo insurance. Instead of the annual premium being paid at the inception of the policy, individual shipment certificates are issued and charged for, or handled on a monthly basis.
A cargo insurance policy that is an open contract; i.e. it provides protection for all of an exporter's shipments afloat or in transit within a specified geographical trade area for an unlimited period of time, until the policy is cancelled by the insured or by the insurance company. It is “open” because the goods that are shipped are also detailed at that time. This is usually shown in a document called a marine insurance certificate.
An insurance policy, which allows the cover of all shipments, made by the insured party under established circumstances from its inception date until cancelled. The insured party is required to declare all shipments to the underwriters and to pay the required premiums at agreed upon rates.
An insurance contract in which the terms of the policy are not fixed at the inception nor is an expiration date specified, but limits of liability are set forth for the protection it offers. No deposit premium is required, but monthly reports are made and sent with premiums due at that time, and certificates of insurance are issued to indicate the property covered. An open policy is commonly used to cover goods in transit.
A cargo insurance policy that is an open contract; e.g., it provides protection for all shipments in transit within a specified geographic trade area for a limited period of time. It is referred to as "open" because it does not require reporting of individual shipments. Summary or grouped reporting requirements vary with different policies.
See Ocean Marine Insurance Policy. Français: Police d'assurance ouverte Español: Póliza flotante, póliza abierta
