In Brief
An exporter obtained a comprehensive shipments insurance policy from ECGC and made exports to an Ivory Coast buyer through a collecting bank. The collecting bank wrongfully handed over shipping documents without receiving payment. The exporter claimed indemnification from ECGC, which initially rejected the claim citing an exclusion for collecting bank default. Lower consumer commissions allowed the claim, reasoning that ECGC's payment to the exporter's bank under a separate guarantee implied admission of liability. The Supreme Court allowed the appeal, clarifying that payment under one insurance policy does not admit liability under a separate policy. However, exercising discretion under Article 142, the Court upheld the lower orders as the innocent exporter was a victim of buyer fraud, with no need for recovery.",
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