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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 46 - Shipping |
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Chapter II - Maritime Administration, Department of Transportation |
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SubChapter G - Emergency Operations |
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Part 308 - War Risk Insurance |
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Subpart F - War Risk Cargo Insurance |
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Open Policy War Risk Cargo Insurance |
§ 308.514 - Return premium.
Latest version.
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§ 308.514 Return premium.
No premium will be returned to the assured with respect to a shipment of goods that attached under the policy except where there was a declaration of value at variance with Clause 8, or an error in the application of a rate or in the computation of a premium, or the insured goods were short-shipped. An application for the return of a premium shall be made on Form MA-307, prescribed in § 308.527, filed in duplicate with the Underwriting Agent who will transmit it to the Maritime Administrator for payment.