Methods for transferring or distributing menace had been practiced by Chinese language and Babylonian retailers as means again as a result of the third and 2nd millennia BC, respectively. 1 Chinese language language retailers travelling treacherous river rapids would redistribute their wares throughout many vessels to limit the loss due to any single vessel’s capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi , c. 1750 BC, and practiced by early Mediterranean crusing retailers If a service provider acquired a loan to fund his cargo, he would pay the lender an additional sum in alternate for the lender’s assure to cancel the mortgage should the cargo be stolen, or misplaced at sea.
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