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[Cites 0, Cited by 0] [Section 71] [Entire Act]

Union of India - Subsection

Section 71(4) in The Marine Insurance Act, 1963

(4)"Gross value" means the wholesale price, or, if there be no such price, the estimated value, with, in either case, freight, landing charges, and duty paid beforehand; provided that, in the case of goods or merchandise customarily sold in bond, the bonded price is deemed to be the gross value. "Gross proceeds" means the actual price obtained at a sale where all charges on sale are paid by the sellers.