Export, Import & Product LiabilityPosted On 20th April 2016
What if your product is on a truck involved in a fatal accident? What if someone is injured using your product incorrectly? How can you protect yourself? What alternatives do you have?
In order to manage such risks, some businesses are turning to Export Trading Companies which act as the legal exporters and importers of their products. As the legal seller or owner of the goods, the Export Trading Company is responsible for managing these risks. It carries appropriate marine insurance policies and segregates the risk into a single purpose entity – a limited liability company – that is commercially and legally where the liability ends from nuisance lawsuits.
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