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Commercial Act — Article 700 (Termination of Cover Period of Marine Insurance)

상법 제700조

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.

In cases falling under paragraph (1) of Article 699, the period of coverage shall terminate at the time of unloading goods and ballast at the port of arrival, and in cases falling under paragraph (2) of the said Article, it shall terminate upon delivery of goods at the port of unloading or the place of arrival: Provided, That where unloading has been delayed by a cause other than an act of God, the period of coverage shall terminate when such unloading is generally completed. <Amended by Act No. 4470, Dec. 31, 1991>

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