First notification of loss
The first report of a loss, which starts every clock that matters.
Definition
The initial notice to the insurer or its agent that a loss has occurred, giving what is known at the time: the consignment, the route, the nature of the loss, when and where it was discovered, and the estimated amount. It triggers the appointment of a surveyor where one is needed, and it is the point at which advice on protecting the recovery against the carrier should be given.
Why it decides money
Notifying early costs nothing and preserves everything. The notice periods against the carrier — three days by sea, seven under CMR, fourteen by air — usually expire before a claim is fully quantified.
Related terms
- Survey and surveyor
- Independent inspection that establishes what happened and how much.
- Time bar
- The deadline after which the carrier cannot be sued at all.
- Clean receipt
- Signing for goods without noting damage weakens the claim against the carrier.
More in claims and recovery
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