In cases of the insurance of prospective profits or remuneration to be earned upon the arrival of cargo, if the insurable value has not been determined by a contract, the insured amount shall be presumed to be the insurable value.
Laws › Commercial Act › SECTION 4 Marine Insurance
Commercial Act — Article 698 (Insurable Value of Prospective Profit Insurance)
상법 제698조
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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