This topic provides the systematic instruction to maintain open insurance policy details.

1. On the Homepage, type LCDOPNPL in the text box, and click next arrow.
   The Open Policy Maintenance screen is displayed.

   Figure 2-12 Open Policy Maintenance

   
   

   
   Description of "Figure 2-12 Open Policy Maintenance"

   
   

   For more information on the fields, refer the Field Description table given below:

   Table 2-10 Open Policy Maintenance - Field Description

   Field	Description
   Open Policy Code	Specify a unique alphanumeric code to identify the policy. You can specify a maximum of 105 characters. This field is mandatory.
   Insurer Code	Specify the insurer who has issued the policy. The option list displays all insurance companies maintained using the Bills & Collections Insurance Company Maintenance screen. You can select the appropriate one. This field is mandatory.
   Customer Number	Specify the customer identification number (CIF) for whom the policy is issued. The system displays the short name once you select the customer number. Note: You can select the appropriate customer number. The option list displays all CIF maintained in Customer Information Maintenance screen. This field is mandatory.
   Goods	Specify the goods to be linked to the open policy. This field is optional.
   Currency	Specify the currency in which the total sum assured and the amount per conveyance needs to be maintained. The option lists displays all currency codes maintained in the system. You can select the appropriate option. This field is mandatory.
   Sum Assured Amount	Specify the goods to be linked to the open policy. This field is mandatory.
   Per Conversion Amount	Specify the limit to be set for every transaction under the policy. This field is optional.
   INCO Term	Specify the INCO term that should be linked to the policy. The option list displays the following values: EXW - EX Works FCA - Free Carrier FAS - Free Alongside Ship FOB - Free On-Board CFR - Cost and Freight CIF - Cost Insurance Freight CPT - Carriage Paid to CIP - Cost Insurance Paid DAF - Delivered at Frontier DES - Deliver Ex Ship DEQ - Delivered Ex Quay DDU - Delivered Duty Unpaid DDP - Delivered Duty Paid This field is optional.
   Telex Address	Specify the telex address of the customer. This field is optional.
   Warehouse Address	Specify the warehouse address of the customer. This field is optional.
   Issue Date	The system displays the application date here. However you can change it. This field is optional.
   Effective Date	Specify the date on which the policy becomes effective. This field is optional.
   Expiry Date	Specify the date on which the policy expires. Note that this date has to be greater than the effective date. This field is mandatory.
   Cover Date	Specify the cover date of the policy. This date should not exceed the expiry date. This field is optional.
   Voyage	Specify details of the shipment that can be undertaken under this policy. This field is optional.
   Location	Specify details of the location to which goods can be shipped under this policy. This field is optional.
   Risk Covered	Specify details of the risk coverage for goods under this policy. This field is optional.
   Utilized Amount	If you have checked the Update utilization Automatically option, the system will display the amount that has been utilized out of the total insured sum. If an LC contract is linked, the utilization amount will show the LC contract amount. In case of a BC contract being linked subsequently, the amount will be re-instated accordingly. If that option is not checked, then you need to enter the utilized amount. If the linked LC contract is reversed or deleted, the utilization will be reduced to the extent of LC amount. This field is optional.
   Auto Update Utilization	Check this option to indicate that the system should automatically update utilization amount based on the transactions undertaken under the policy. This field is optional.
   Available Amount	The system displays the amount available for further utilization. This amount is arrived at by subtracting the utilized amount from the total sum assured. This field is optional.
   Key Clauses	Specify the clauses that you wish to link to the policy. This field is optional.
   Remarks	Specify remarks pertaining to the policy. This field is optional.
   Specify Open Policy Details	While querying on records, you can view the following details:
   Contract Reference Number	The reference number of the linked LC contract is displayed here. This field is optional.
   Contract Amount	The system displays the contract amount of the linked LC contract. While creating a new policy or amending an existing one, you cannot modify the fields under the Contract Linkage section. You can modify the following fields while amending a record: Expiry Date Voyage Location Risk Covered Per Conveyance Amount Key Clauses Remarks Cover Date Utilization Amount (If the option Update utilization Automatically is not checked) Update utilization automatically Telex Address Warehouse Address This field is optional.
   Contract Currency	The system displays the contract currency of the linked LC contract This field is optional.

2. You can perform the following operation on the record:
   1. Create a new record
   2. Unlock a record
   3. Copy a record
   4. Close a record