Settlement Service

Settlement Service refers to specialized services in foreign trade for handling disputes over cargo loss, shortage, quality non-conformity, etc., where the responsible party (such as the insurance company, carrier, or seller) provides financial compensation or solutions to the damaged party. It is commonly used under trade terms like CIF and FOB. When cargo sustains covered losses during transit, the buyer can claim against the insurance company with the insurance policy, inspection report, etc. The settlement services provided by the insurance company include loss assessment, claim verification, and payment of indemnity. Use cases include: marine insurance claims, carrier liability claims, and seller quality breach claims. Precautions: claims must be filed within the limitation period (e.g., the limitation period for marine cargo insurance claims is 2 years); documents must be complete (bill of lading, invoice, packing list, inspection certificate, claim statement, etc.); attention should be paid to deductibles and compensation ratios. The difference from 'after-sales service' is that settlement service focuses on loss compensation rather than product repair or replacement; the difference from 'dispute resolution' is that settlement service emphasizes the compensation process of the insurer or responsible party rather than legal litigation or arbitration.