Loss Survey

Loss Survey refers to the act of a professional inspection agency appraising and assessing losses to goods in international trade, transportation, or insurance. Its purpose is to determine the nature, cause, extent, and liability for the loss, providing a basis for claims, indemnity, or legal proceedings. Common scenarios include: cargo damage or shortage during sea, air, or land transport; inspection required by the insurer after an insured event; third-party inspection commissioned when the buyer and seller dispute a loss. Notes: inspection should be conducted promptly to avoid aggravation of loss or loss of evidence; a qualified inspection agency should be chosen, ensuring independence and impartiality; the inspection report must detail the loss, inspection methods, and conclusions. Unlike Commodity Inspection, which typically verifies whether goods' quality, quantity, and packaging comply with contract requirements, Loss Survey specifically addresses losses that have already occurred. It also differs from Average Adjustment, which mainly deals with general average adjustment.