FEDEX, UPS, DHL AND USPS EXPRESS AND REGISTERED MAIL.
Terms and Conditions
London Companies
This Insurance is effected with certain Companies, London.
This Certificate is issued in accordance with the limited authorization granted to Willis Limited (hereinafter called the "Correspondent") by certain Companies, London whose names and the proportions underwritten by them can be ascertained from the
Part 3 of the Declaration Page herein (such Companies being hereinafter called "Insurers") and in consideration of the premium specified herein, Insurers do hereby bind themselves to payor make good to the Assured or to the Assured's Executors, Administrators and Assigns, all such loss as may happen to the subject matter of this Insurance, or any part thereof, during the continuance of this Insurance after such loss is proved, provided that the liability of the Insurers shall not exceed the sum insured or other limits as stated in the Schedule and the liability of each Company, the Insurers, shall be limited to the individual proportion set against their name.
The Assured is requested to read this Certificate, and if not correct return it immediately to the Correspondent for appropriate alteration.
Previous Ref No. NOT APPLICABLE
Authority Ref. No: B080110455W09
Certificate Ref No: B080111380WIO
Name and address of the Insured:
AlB Express Inc Suite 1010
2 West 46th Street, New York,
NY 10036-4502.
2. Effective
From: 4th January 2010 at 00.01am Local Standard Time
To: 1st January 2011 at 00.01am Local Standard Time
3. Insurance is effective with Great Lakes Reinsurance (UK) PLC.
Percentage: 100%
4. Interest
Diamonds, Precious Stones of any form, Jewelry, Watches, Pearls, Metals and the like of all kinds and general merchandise (non-fragile) excluding Bank Notes, Notes, Money Orders, Cash, Negotiable Documents of any kind, contraband or unlawful goods.
5. Limit of Liability:
Federal Express DVX / UPS Secured.............................................................................................USD 50,000 Per Package
Federal Express I UPS...................................................................................................................USD 50,000 Per Package
Federal Express DVX / UPS Secured - Second Day Service.........................................................USD 20,000 Per Package
Federal Express I UPS - Second Day Service...............................................................................USD 20,000 Per Package
Federal Express I UPS - Ground Service...................................................................................... USD 5,000 Per Package
Federal Express I UPS - Non Jewelry Items................................................................................... USD 20,000 Per Package
Federal Express I UPS - Non Jewelry Items COD............................................................................USD 20,000 Per Package
Express Mail...................................................................................................................................USD 50,000 Per Package
Registered Mail..............................................................................................................................USD 100,000 Per Package
In the event of anyone loss or series of losses arising out of the same occurrence..................................USD 5,000,000 in all
6. Territorial Limits
The Countries to and from which shipments are made are from DOOR TO DOOR:
DOOR TO DOOR U.S.A., District of Columbia, Puerto Rico & Canada and vice-versa but extended to Worldwide in respect of International Shipments.
It is further agreed that service of process in such suit may be made upon Dewey & Leboeuf
1301 Avenue Of The America's New York
NY 10019-6092
And that in any suit instituted against anyone of them upon this contract, Underwriters will abide
by the final decision of such Court or in the event of an appeal.
The above-named are authorized and directed to accept service of process on behalf of Underwriters in any such suit and/or upon the request of the Insured (or Reinsured) to give a written undertaking to the Insured (or Reinsured) that they will enter a general appearance upon Underwriters' behalf in the event such a suit shall be instituted.
11. In the event of a claim, please notify the following:
AIBexpress , Inc Suite 1010
2 West 46th Street, New York,
NY 10036.
12. Loss Settlement Clause
In the event of loss or damage covered by a peril insured hereunder, this policy will respond as a fIrst loss insurance and the indemnity payable hereunder will be based on the insured value declared to AlB Express, Inc without the application of any average.
13. Forms attached hereto and special conditions:
Coverage under this Certificate of Insurance is against all risks of physical loss or damage to the Interest Insured subject to the terms, conditions and exclusions set out in the following
All Risks and Safe Delivery Clause, as attached. Including War, Strikes, Riots and Civil Commotions as per the relevant London Institute War Clauses applicable at the time of shipment.
Other Institute Clauses, CL 388, CL 257, CL 255, CL 354, CL 260, where applicable, as attached.
Courier Clause as attached.
Terrorism Exclusion Endorsement (NMA 2920), as attached
Termination of Transit Clause (Terrorism) JC2009/056, as attached
Institute Radioactive Contamination, Chemical, Biological, Bio-Chemical and Electromagnetic Weapons Exclusion Clause CL370, as attached
Institute Cyber Attack Exclusion Clause CL380, as attached
Law and Jurisdiction Clause, as attached.
Several Liability Notice, as attached
United States Terrorism Risk Insurance -Acts of Terrorism already included, as attached
Courier Clause
It is understood and agreed that this Insurance includes Sendings within, to and from places in the United States of America via Federal Express and/or U.P.S. and/or Express Mail up to the Limits of Liability shown in the the schedule above, subject to the following conditions precedent to Underwriters Liability.
1) The specified courier boxes are to be used whenever possible or suitable packaging and labeling when items are to big for the specified boxes when it is not possible to use the specified courier boxes.
2) The Air Bill shall make no reference to precious commodities including but not limited to gold, diamonds, pearls or jewelry in the name of the shipper or the recipient.
3) No values are to be declared on the Air Bill. However, this does not apply to any COD or International Shipments.
4) USA Zip Code 10036 only to be used when the shippers name is New York Department of Insurance, 2 West 46th Street, New York, NY 10036. .
5) Allow shipments in generic envelopes sub-limited to USD 5,000 anyone envelope.
There is no coverage hereunder for receipt of any empty box that is intact or any box that arrives intact or any box that arrives without the expected contents unless the shipper can prove by means of video recording that the goods have been placed in the box and that the box has been sealed.
In respect of COD Shipments it is understood and agreed that this Insurance considers payments of a "bad" or "bounced" cheque to be the same as if the shipments was not delivered and lost and in transit.
Notwithstanding anything contained in this Clause to the contrary, it is understood and agreed that in respect of international sendings by the specified couriers where the value and/or description of the contents must be declared for custom purposes the Insured will identify the contents by the relevant Customs Harmonization Code(s) for the commodity(ies) and declare the the corresponding value(s). However, it is further understood and agreed that the actual insured value may be different from the value declared to customs.
ALL RISKS AND SAFE DELIVERY CLAUSE
Risk in regards to the Sendings are to commence at the moment the Assured takes responsibility for the package and to continue until safely delivered into the consignees premises and to include all and every risk of every kind to the subject matter insured from beginning to end.
It is understood and agreed that Sendings falling within the scope of this Certificate of Insurance are covered (subject to the terms and conditions hereof) until they reach their final destination, in spite of the fact that the period hereunder is stated as expiring at the date mentioned in the schedule, provided, however, such Sendings commence prior to this time.
Subject always to the terms, conditions, limitations and exclusions applicable.
LAW AND JURISDICTION
This Insurance is governed by the law of the state where the Insured's premises are located and subject to the jurisdiction of a court of competent jurisdiction within the United States, as determined under the Service of Suit Clause provided in this Insurance.
SEVERAL LIABILITY
The liability of the Underwriters is several and not joint and is limited solely to the extent of their proportions as shown in the Schedule. The Underwriters are not responsible for the subscription of any co-subscribing Underwriter who for any reason does not satisfy all or part of its obligations.
United States Terrorism Risk Insurance - Acts of Terrorism already included
It is agreed that in accordance with the provisions and limitations of the US Terrorism Risk Insurance Act of 2002, where coverage for acts ofterrorism is already included in this policy.
TERMINATION OF TRANSIT CLAUSE (TERRORISM) 2009
This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith.
1. Notwithstanding any provision to the contrary contained in the contract of insurance or the Clauses referred to therein, it is agreed that in so far as the contract of insurance covers loss of or damage to the subject-matter insured caused by :
any act of terrorism being an act of any person acting on behalf of, or in connection with, any organization which carries out activities directed towards the overthrowing or influencing, by force or violence, of any government whether or not legally constituted or
any person acting from a political, ideological or religious motive,
such cover is conditional upon the subject-matter insured being in the ordinary course of transit and, in any event, SHALL TERMINATE:
either
1.1 as per the transit clauses contained within the contract of insurance,
or
1.2 on completion of unloading from the carrying vehicle or other conveyance in or at the final warehouse or place of storage at the destination named in the contract of insurance,
1.3 on completion of unloading from the carrying vehicle or other conveyance in or at any other warehouse or place of storage, whether prior to or at the destination named in the contract of insurance, which the Assured or their employees elect to use either for storage other than in the ordinary course of transit or for allocation or distribution, or
1.4 when the Assured or their employees elect to use any carrying vehicle or other conveyance or any container for storage other than in the ordinary course of transit,
or
1.5 in respect of marine transits, on the expiry of 60 days after completion of discharge overside of the subject matter insured from the oversea vessel at the final port of discharge,
1.6 in respect of air transits, on the expiry of 30 days after unloading the subject-matter insured from the aircraft at the final place of discharge,
whichever shall first occur.
2. If the contract of insurance or the Clauses referred to therein specifically provide cover for inland or other further transits following on from storage, or termination as provided for above, cover will re-attach, and continues during the ordinary course of that transit terminating again in accordance with clause 1.
JC2009/056
01/01/2009
10/11/2003
INSTITUTE RADIOACTIVE CONTAMINATION, CHEMICAL, BIOLOGICAL, BIO-CHEMICAL AND ELECTROMAGNETIC WEAPONS EXCLUSION CLAUSE
This clause shall be paramount and shall override anything contained in this insurance inconsistent therewith
1. In no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from
1.1 ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel
1.2 the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof
1.3 any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter
1.4 the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter. The exclusion in this sub-clause does not extend to radioactive isotopes,
other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful purposes
1.5 any chemical, biological, bio-chemical, or electromagnetic weapon.
CL370
10/11/03
INSTITUTE CYBER ATTACK EXCLUSION CLAUSE
1.1 Subject only to clause 1.2 below, in no case shall this insurance cover loss damage liability or expense directly or indirectly caused by or contributed to by or arising from the use or operation, as a means for inflicting harm, of any computer, computer system, computer software programme, malicious code, computer virus or process or any other electronic system.
1.2 Where this clause is endorsed on policies covering risks of war, civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power, or terrorism or any person acting from a political motive, Clause 1.1 shall not operate to exclude losses (which would otherwise be covered) arising from the use of any computer, computer system or computer software programme or any other electronic system in the launch and/or guidance system and/or firing mechanism of any weapon or missile.
CL380
CONFISCATION AND EXPROPRIATION
1. (a) This policy is to cover loss of and/or damage to the property hereby insured directly caused by confiscation, seizure, appropriation, expropriation, requisition of title or use or willful destruction by/or under the order of the Government (whether civil, military or de facto) and/or public or local authority of the country or place in which the vessel(s)/craft/property hereby insured are covered by the terms of this policy.
(b) Nevertheless this policy does not cover any such loss or damage by or under the order of the Government and/or public or local authority of the country of despatch.
(c) In respect of such property as may be insured hereunder where limitation or exclusion of War coverage is made by the appropriate Institute War Clauses, such limitation or exclusion of war coverage shall also apply to this extension.
2. (a) No claim to attach hereto for any loss arising from any debt, failure to provide bond or security, or any other financial cause, whether under court order or otherwise.
(b) No claim to attach hereto for any loss arising from the repossession of property by any titleholder, or arising out of any contractual agreement to which any Assured protected under this policy may be party.
(c) No claim to attach hereto for delay, deterioration and/or loss of market.
(d) No claim to attach hereto for any loss unless preliminary notification of the occurrence giving rise to such a loss shall have been advised in writing to Underwriters as soon as practicable, and the Assured undertake that at all times from the date of such preliminary notification they will do and concur in doing all things reasonably practicable to avoid or diminish the loss and to recover the whole of the property insured by this policy.
3. (a) Warranted that the Assured comply in all aspects with the laws (local or otherwise) of any country within whose jurisdiction the property is likely to be in the normal course of events.
(b ) Warranted all permits necessary for normal legal operation are obtained.
Should failure to comply with the above warranties prejudice this insurance to the extent of a loss, no liability shall attach hereunder.
4. In the event of any claim hereunder, the Insured undertake to subrogate to Underwriters the right of procedure against any other parties for the recovery of, or in respect of, the said property.
5. This insurance does not cover any loss or damage which at the time of the happening of such loss or damage is insured by or would, but for the existence of this policy, be insured by any other existing policy or policies except in respect of any excess beyond the amount which would have been payable under such other policy or policies had this insurance not been effected.
6. Underwriters subscribing to this insurance hereby agree that if a new Government is installed in any place and after becoming the recognized or de facto Government of the place proceeded to confiscate or expropriate property by Government action by decree or other legislation or otherwise they would settle a loss if it fell under the terms of the policy wording of the insurance. Underwriters subscribing hereto acknowledge and accept that the Government might have been "installed" by force or armed revolt.
LP0325AMENDED
INSTITUTE WAR CLAUSES (CARGO)
RISKS COVERED
1. This insurance covers, except as provided in Clauses 3 and 4 below, loss of or damage to the subject-matter insured caused by RISKS CLAUSE
1.1 war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power
1.2 capture seizure arrest restraint or detainment, arising from risks covered under 1.1 above, and the consequences thereof or any attempt thereat
1.3 derelict mines torpedoes bombs or other derelict weapons of war.
2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment and/or the governing
GENERAL AVERAGE CLAUSE
law and practice, incurred to avoid or in connection with the avoidance of loss from a risk covered under these clauses.
EXCLUSIONS
3. In no case shall this insurance cover
GENERAL EXCLUSIONS CLAUSE
3.1 loss damage or expense attributable to willful misconduct of the Assured
3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured (for the purpose of this
Clause 3.3 "packing" shall be deemed to include stowage in a container or liftvan but only when such stowage is carried out prior to attachment of this
insurance or by the Assured or their servants)
3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured
3.5 loss damage or expense proximately caused by delay, even though the delay be caused by a risk insured against (except expenses payable under Clause 2 above)
3.6 loss damage or expense arising from insolvency or financial default of the owners managers charterers or operators of the vessel
3.7 any claim based upon loss of or frustration of the voyage or adventure
3.8 loss damage or expense arising from any hostile use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
4. 4.1 In no case shall this insurance cover loss damage or expense arising from unseaworthiness of vessel or craft, unfitness of vessel craft conveyance UNSEAWORTHINESS AND UNFITNESS EXCLUSION CLAUSE
container or liftvan for the safe carriage of the subject-matter insured, where the Assured or their servants are privy to such unseaworthiness or unfitness,
at the time the subject-matter insured is loaded therein.
4.2 The Underwriters waive any breach of the implied warranties of seaworthiness of the ship and fitness of the ship to carry the subject-matter insured
to destination, unless the Assured or their servants are privy to such unseaworthiness or unfitness.
DURATION
5. 5.1 This insurance
TRANSIT CLAUSE
5.1.1 attaches only as the subject-matter insured and as to any part as that part is loaded on an oversea vessel
and
5.1.2 terminates, subject to 5.2 and 5.3 below, either as the subject-matter insured and as to any part as that part is discharged from an oversea vessel at the final port or place of discharge,
or
on expiry of 15 days counting from midnight of the day of arrival of the vessel at the final port or place of discharge,
whichever shall first occur;
nevertheless,
subject to prompt notice to the Underwriters and to an additional premium, such insurance
5.1.3 reattaches when, without having discharged the subject-matter insured at the final port or place of discharge, the vessel sails therefrom,
and
5.1.4 terminates, subject to 5.2 and 5.3 below, either as the subject-matter insured and as to any part as that part is thereafter discharged from the vessel at the final (or substituted) port or place of discharge,
or
on expiry of 15 days counting from midnight of the day of re-arrival of the vessel at the final port or place of discharge or arrival of the vessel at a substituted port or place of discharge,
whichever shall first occur.
5.2 If during the insured voyage the oversea vessel arrives at an intermediate port or place to discharge the subject-matter insured for on-carriage by oversea vessel or by aircraft, or the goods are discharged from the vessel at a port or place of refuge, then, subject to 5.3 below and to an additional premium if required, this insurance continues until the expiry of 15 days counting from midnight of the day of arrival of the vessel at such port or place, but thereafter reattaches as the subject-matter insured and as to any part as that part is loaded on an on-carrying oversea vessel or aircraft. During the period of 15 days the insurance remains in force after discharge only whilst the subject-matter insured and as to any part as that part is at such port or place. If the goods are on-carried within the said period of 15 days or if the insurance reattaches as provided in this Clause 5.2
5.2.1 where the on-carriage is by oversea vessel this insurance continues subject to the terms of these clauses,
or
5.2.2 where the on-carriage is by aircraft, the current Institute War Clauses (Air Cargo) (excluding sendings by Post) shall be deemed to form part of this insurance and shall apply to the on- carriage by air.
5.3 If the voyage in the contract of carriage is terminated at a port or place other than the destination agreed therein, such port or place shall be deemed to be the final port of discharge and uch insurance terminates in accordance with 5.1.2. If the subject matter insured is subsequently re-shipped to the original or any other destination, then provided notice is given to the Underwriters before the commencement of such further transit and subject to an additional premium, such insurance reattaches
5.3.1 in the case of the subject-matter insured having been discharged, as the subject-matter insured and as to any part as that part is loaded on the on carrying vessel for the voyage;
5.3.2 in the case of the subject-matter insured not having been discharged, when the vessel sails from such deemed final port of discharge;
thereafter such insurance terminates in accordance with 5.1.4.
5.4 The insurance against the risks of mines and derelict torpedoes, floating or submerged, is extended whilst the subject-matter insured or any part thereof is on craft whilst in transit to or from the oversea vessel, but in no case beyond the expiry of 60 days after discharge from the oversea vessel unless otherwise specially agreed by the Underwriters.
5.5 Subject to prompt notice to Underwriters, and to an additional premium if required, this insurance shall remain in force within the provisions of these Clauses during any deviation, or any variation of the adventure arising from the exercise of a liberty granted to shipowners or charterers under the contract of affreightment.
(For the purpose of Clause 5
"arrival" shall be deemed to mean the vessel is anchored, moored or otherwise secured at a berth or place within the Harbour Authority area. If such a berth or place is not available, arrival is deemed to have occurred when the vessel first anchors, moors or otherwise secures either at or off the intended port or place of discharge
"oversea vessel" shall be deemed to mean a vessel carrying the subject-matter from one port or place to another where such voyage involves a sea passage by that vessel)
6. Where, after attachment of this insurance, the destination is changed by the Assured,
CHANGE OF VOYAGE CLAUSE
held covered at a premium and on conditions to be arranged subject to prompt notice being given to the Underwriters.
7. Anything contained in this contract which is inconsistent with Clauses 3.7, 3.8 or 5 shall, to the extent of such inconsistency, be null and void.
CLAIMS
8.
8.1 In order to recover under this insurance the Assured must have an insurable interest in the subject-matter insured at the time of the loss.
INSURABLE INTEREST CLAUSE
8.2 Subject to 8.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance,
notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the
Underwriters were not.
9.
9.1 If any Increased Value insurance is effected by the Assured on the cargo insured herein the agreed value of the cargo shall be deemed to be
INCREASED VALUE CLAUSE
increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this
insurance shall be in such proportion as the sum insured herein bears to such total amount insured.
In the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under all other insurances.
9.2 Where this insurance is on Increased Value the following clause shall apply:
The agreed value of the cargo shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the cargo by the Assured, and liability under this insurance shall be in such proportion as the sum insured herein bears to such total amount insured.
In the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under all other insurances.
BENEFIT OF INSURANCE
10. This insurance shall not inure to the benefit of the carrier or other bailee.
NOT TO INSURE CLAUSE
MINIMISING LOSSES
11. It is the duty of the Assured and their servants and agents in respect of loss recoverable hereunder
DUTY OF ASSURED CLAUSE
11.1 to take such measures as may be reasonable for the purpose of averting or minimizing such loss,
and
11.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised
and the Underwriters will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties.
12. Measures taken by the Assured or the Underwriters with the object of saving, protecting or recovering the subject-matter insured shall
WAIVER CLAUSE
not be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.
AVOIDANCE OF DELAY
13. It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control.
REASONABLE DESPATCH CLAUSE
LAW AND PRACTICE
14. This insurance is subject to English law and practice.
ENGLISH LAW AND PRACTICE CLAUSE
NOTE:- It is necessary for the Assured when they become aware of an event which is "held covered" under this insurance to give prompt notice to the Underwriters and the right to such cover is dependent upon compliance with
this obligation.
1/1/82
CL255
INSTITUTE WAR CLAUSES (AIR CARGO)
(excluding sendings by Post)
RISKS COVERED
Risks
1. This insurance covers, except as excluded by the provisions of Clause 3 below, loss of or damage to the subject matter insured caused by
1.1 war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power
1.2 capture seizure arrest restraint or detainment, arising from risks covered under 1.1 above, and the consequences thereof or any attempt thereat
1.3 derelict mines torpedoes bombs or other derelict weapons of war.
Salvage Charges
2. This insurance covers salvage charges, incurred to avoid or in connection with the avoidance of loss from any cause except those excluded in Clause 3 below.
EXCLUSIONS
3. In no case shall this insurance cover
3.1 loss damage or expense attributable to willful misconduct of the Assured
3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject matter insured to withstand the ordinary incidents of the insured transit where such packing or preparation is carried out by the Assured or their employees or prior to the attachment of this insurance (for the purpose of these Clauses "packing" shall be deemed to include stowage in a container and "employees" shall not include independent contractors)
3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured
3.5 loss damage or expense arising from unfitness of aircraft conveyance or container for the safe carriage of the subject-matter insured, where loading therein or thereon is carried out prior to attachment of this insurance or by the Assured or their employees and they are privy to such unfitness at the time of loading. This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract.
3.6 loss damage or expense caused by delay, even though the delay be caused by a risk insured against
3.7 loss damage or expense caused by insolvency or financial default of the owners managers charterers or operators of the aircraft where, at the time of loading of the subject-matter insured on board the aircraft, the Assured are aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal prosecution of the transit This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject matter insured in good faith under a binding contract
3.8 any claim based upon loss of or frustration of the transit or adventure
3.9 loss damage or expense directly or indirectly caused by or arising from any hostile use of any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
DURATION
Transit Clause
4. 4.1 This insurance
4.1.1 attaches only as the subject-matter insured and as to any part as that part is loaded on the aircraft for the commencement of the air transit insured and
4.1.2 terminates, subject to 4.2 and 4.3 below, either as the subject-matter insured and as to any part as that part is discharged from the aircraft at the final place of discharge or on expiry of 15 days counting from midnight of the day of arrival of the aircraft at the final place of discharge, whichever shall first occur; nevertheless, subject to prompt notice to the Insurers and to an additional premium, such insurance
4.1.3 reattaches when, without having discharged the subject-matter insured at the final place of discharge, the aircraft departs therefrom, and
4.1.4 terminates, subject to 4.2 and 4.3 below, either as the subject-matter insured and as to any part as that part is thereafter discharged from the aircraft at the final (or substituted) place of discharge, or on expiry of 15 days counting from midnight of the day ofre-arrival of the aircraft at the final place of clischarge or arrival of the aircraft at a substituted place of discharge, whichever shall first occur.
4.2 If during the insured transit the aircraft arrives at an intermediate place to discharge the subjectmatter insured for on-carriage by aircraft or oversea vessel, then, subject to 4.3 below and to an additional premium if required, this insurance continues until the expiry of 15 days counting from midnight of the day of arrival of the aircraft at such place, but thereafter reattaches as the subject-matter insured and as to any part as that part is loaded on an on-carrying aircraft or oversea vessel. During the period of 15 days the insurance remains in force after discharge only whilst the subject-matter insured and as to any part as that part is at such intermediate place. If the subject-matter insured is on-carried within the said period of 15 days or if the insurance reattaches as provided in this Clause 4.2
4.2.1 where the on-carriage is by aircraft this insurance continues subject to the terms of these Clauses, or
4.2.2 where the on-carriage is by oversea vessel, the current Institute War Clauses (Cargo) shall be deemed to form part of the contract of insurance and shall apply to the on-carriage by sea.
4.3 If the air transit in the contract of carriage is terminated at a place other than the destination agreed therein, that place shall be deemed to be the final place of discharge and this insurance terminates in accordance with 4.1.2. lfthe subject-matter insured is subsequently consigned to the original or any other destination, then, provided notice is given to the Insurers before the commencement of such further transit and subject to an additional premium, this insurance reattaches
4.3.1 in the case of the subject-matter insured having been discharged, as the subject-matter insured and as to any part as that part is loaded on the on-carrying aircraft for the transit; 4.3.2 in the case of the subject-matter insured not having been discharged, when the aircraft departs from such deemed final place of discharge; thereafter this insurance terminates in accordance with 4.1.4.
4.4 Subject to prompt notice to Insurers, and to an additional premium ifrequired, this insurance shall remain in force within the provisions of these Clauses during any deviation, or any variation of the adventure arising from the exercise of a liberty granted to the air carriers under the contract of carriage. (For the purpose of Clause 4 "oversea vessel" shall be deemed to mean a vessel carrying the subject-matter from one port or place to another where such voyage involves a sea passage by that vessel)
Change of Transit
5. 5.1 Where, after attachment of this insurance, the destination is changed by the Assured, this must be notified promptly to Insurers for rates and terms to be agreed. Should a loss occur prior to such agreement being obtained cover may be provided but only if cover would have been available at a reasonable commercial market rate on reasonable market terms.
5.2 Where the subject-matter insured commences the transit contemplated by this insurance (in accordance with Clause 4.1), but, without the knowledge of the Assured or their employees the aircraft leaves for another destination, this insurance will nevertheless be deemed to have attached at commencement of such transit.
6. Anything contained in this contract which is inconsistent with Clauses 3.8, 3.9 or 4 shall, to the extent of such inconsistency, be null and void.
CLAIMS
Insurable Interest
7. 7.1 In order to recover under this insurance the Assured must have an insurable interest in the subjectmatter insured at the time of the loss.
7.2 Subject to Clause 7.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Insurers were not.
Increased Value
8. 8.1 If any Increased Value insurance is effected by the Assured on the subject-matter insured under this insurance the agreed value of the subject-matter insured shall be deemed to be increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances.
8.2 Where this insurance is on Increased Value the following clause shall apply:
The agreed value of the subject-matter insured shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the subject-matter insured by the Assured, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured. In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances.
BENEFIT OF INSURANCE
9. This insurance
9.1 covers the Assured which includes the person claiming indemnity either as the person by or on whose behalf the contract of insurance was effected or as an assignee,
9.2 shall not extend to or otherwise benefit the carrier or other bailee.
MINIMISING LOSSES
Duty of Assured
10. It is the duty of the Assured and their employees and agents in respect of loss recoverable hereunder
10.1 to take such measures as may be reasonable for the purpose of averting or minimizing such loss, and
10.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised and the Insurers will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties.
Waiver
11. Measures taken by the Assured or the Insurers with the object of saving, protecting or recovering the subject matter insured shall not be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.
AVOIDANCE OF DELAY
12. It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control.
LAW AND PRACTICE
13. This insurance is subject to English law and practice.
NOTE:- Where a reattachment of cover is requested under Clause 4, or a change of destination is notified under Clause 5, there is an obligation to give prompt notice to the Insurers and the right to such cover is dependent upon compliance with this obligation.
© Copyright: 12/08 - Lloyd's Market Association (LMA) and International Underwriting Association of London (IDA).
CL388
01/01/2009
INSTITUTE WAR CLAUSES
(sendings by Post)
RISKS COVERED
1. This insurance covers, except as provided in Clause 3 below, loss of or damage to the Risks Clause subject-matter insured caused by
RISKS CLAUSE
1.1 war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power
1.2 capture seizure arrest restraint or detainment, arising from risks covered under 1.1 above, and the consequences thereof or any attempt thereat
1.3 derelict mines torpedoes bombs or other derelict weapons of war.
2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of affreightment and/or
GENERAL AVERAGE CLAUSE
the governing law and practice, incurred to avoid or in connection with the avoidance of loss from a risk covered under these clauses.
EXCLUSIONS
3. In no case shall this insurance cover
GENERAL EXCLUSION CLAUSE
3.1 loss damage or expense attributable to willful misconduct of the Assured
3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured (for the purpose of this Clause 3.3 "packing" shall be deemed to include stowage in a container or liftvan but only when such stowage is carried out prior to attachment of this insurance or by the Assured or their servants)
3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured
3.5 loss damage or expense proximately caused by delay, even though the delay be caused by a risk insured against (except expenses payable under Clause 2 above)
3.6 any claim based upon loss of or frustration of the voyage or adventure
3.7 loss damage or expense arising from any hostile use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter.
DURATION
4. This insurance attaches only as the subject-matter insured and as to any part as that part leaves the premises of the senders at the place
TRANSIT CLAUSE
named in the insurance for the commencement of the transit and continues, but with the exclusion of any period during which the
subject-matter is in packers' premises, until the subject-matter insured and as to any part as that part is delivered to the address on the
postal package(s) when this insurance shall terminate.
5. Anything contained in this contract which is inconsistent with Clauses 3,6, 3.7 or 4 shall, to the extent of such inconsistency, be null and void.
CLAIMS
6. 6.1 In order to recover under this insurance the Assured must have an insurable interest in the subject-matter insured at the time
INSURABLE INTEREST CLAUSE
of the loss.
6.2 Subject to 6.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance,
notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Underwriters were not.
MINIMISING LOSSES
7. It is the duty of the Assured and their servants and agents in respect of loss recoverable hereunder
DUTY OF ASSURED CLAUSE
7.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss,
and
7.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised
and the Underwriters will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges
properly and reasonably incurred in pursuance of these duties.
8. Measures taken by the Assured or the Underwriters with the object of saving, protecting or recovering the subject-matter
WAIVER CLAUSE
insured shall not be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.
AVOIDANCE OF DELAY
9. It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control.
REASONABLE DESPATCH CLAUSE
LAW AND PRACTICE
10. This insurance is subject to English law and practice.
ENGLISH LAW AND PRACTICE CLAUSE
1/1/82
CL257
INSTITUTE STRIKES CLAUSES (CARGO)
RISKS COVERED
Risks
1. This insurance covers, except as excluded by the provisions of Clauses 3 and 4 below, loss of or damage to the subject-matter insured caused by
1.1 strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions
1.2 any act of terrorism being an act of any person acting on behalf of, or in connection with, any organization which carries out activities directed towards the overthrowing or influencing, by force or violence, of any government whether or not legally constituted
1.3 any person acting from a political, ideological or religious motive,
General Average
2. This insurance covers general average and salvage charges, adjusted or determined according to the contract of carriage and/or the governing law and practice, incurred to avoid or in connection with the avoidance of loss from a risk covered under these Clauses.
EXCLUSIONS
3. In no case shall this insurance cover
3.1 loss damage or expense attributable to willful misconduct of the Assured
3.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
3.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject matter insured to withstand the ordinary incidents of the insured transit where such packing or preparation is carried out by the Assured or their employees or prior to the attachment of this insurance (for the purpose of this Clause 3.3 "packing" shall be deemed to include stowage in a container and "employees" shall not include independent contractors)
3.4 loss damage or expense caused by inherent vice or nature of the subject-matter insured
3.5 loss damage or expense caused by delay, even though the delay be caused by a risk insured against (except expenses payable under Clause 2 above)
3.6 loss damage or expense caused by insolvency or financial default of the owners managers charterers or operators of the vessel where, at the time ofloading of the subject-matter insured on board the vessel, the Assured are aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal prosecution of the voyage This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract
3.7 loss damage or expense arising from the absence shortage or withholding oflabour of any description whatsoever resulting from any strike, lockout, labour disturbance, riot or civil commotion
3.8 any claim based upon loss of or frustration of the voyage or adventure
3.9 loss damage or expense directly or indirectly caused by or arising from the use of any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter
3.10 loss damage or expense caused by war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile act by or against a belligerent power.
4. 4.1 In no case shall this insurance cover loss damage or expense arising from
4.1.1 unseaworthiness of vessel or craft or unfitness of vessel or craft for the safe carriage of the subject-matter insured, where the Assured are privy to such unseaworthiness or unfitness, at the time the subject-matter insured is loaded therein.
4.1.2 unfitness of container or conveyance for the safe carriage of the subject-matter insured, where loading therein or thereon is carried out prior to attachment of this insurance or by the Assured or their employees and they are privy to such-unfitness at the time ofloading.
4.2 Exclusion 4.1.1 above shall not apply where the contract of insurance has been assigned to the party claiming hereunder who has bought or agreed to buy the subject-matter insured in good faith under a binding contract
4.3 The Insurers waive any breach of the implied warranties of seaworthiness of the ship and fitness of the ship to carry the subject-matter insured to destination.
DURATION
Transit Clause
5. 5.1 Subject to Clause 8 below, this insurance attaches from the time the subject-matter insured is first moved in the warehouse or at the place of storage (at the place named in the contract of insurance) for the purpose of the immediate loading into or onto the carrying vehicle or other conveyance for the commencement of transit, continues during the ordinary course of transit and terminates either
5.1.1 on completion of unloading from the carrying vehicle or other conveyance in or at the final warehouse or place of storage at the destination named in the contract of insurance,
5.1.2 on completion of unloading from the carrying vehicle or other conveyance in or at any other warehouse or place of storage, whether prior to or at the destination named in the contract of insurance, which the Assured or their employees elect to use either for storage other than in the ordinary course of transit or for allocation or distribution, or
5.1.3 when the Assured or their employees elect to use any carrying vehiCle or other conveyance or any container for storage other than in the ordinary course of transit or
5.1.4 on the expiry of 60 days after completion of discharge overside of the subject-matter insured from the oversea vessel at the final port of discharge, whichever shall first occur.
5.2 If, after discharge overside from the oversea vessel at the final port of discharge, but prior to termination of this insurance, the subject-matter insured is to be forwarded to a destination other than that to which it is insured, this insurance, whilst remaining subject to termination as provided in Clauses 5.1.1 to 5.1.4, shall not extend beyond the time the subject-matter insured is first moved for the purpose of the commencement of transit to such other destination.
5.3 This insurance shall remain in force (subject to termination as provided for in Clauses 5.1.1 to 5.1.4 above and to the provisions of Clause 6 below) during delay beyond the control of the Assured, any deviation, forced discharge, reshipment or transhipment and during any variation of the adventure arising from the exercise of a liberty granted to carriers under the contract of carriage.
Termination of Contract of Carriage
6. If owing to circumstances beyond the control of the Assured either the contract of carriage is terminated at a port or place other than the destination named therein or the transit is otherwise terminated before unloading of the subject-matter insured as provided for in Clause 5 above, then this insurance shall also terminate unless prompt notice is given to the Insurers and continuation of cover is requested when this insurance shall remain in force, subject to an additional premium if required by the Insurers, either
6.1 until the subject-matter insured is sold and delivered at such port or place, or, unless otherwise specially agreed, until the expiry of 60 days after arrival of the subject-matter insured at such port or place, whichever shall first occur,
or
6.2 if the subject-matter insured is forwarded within the said period of 60 days (or any agreed extension thereof) to the destination named in the contract of insurance or to any other destination, until terminated in accordance with the provisions of Clause 5 above.
7. 7.1 Where, after attachment of this insurance, the destination is changed by the Assured, this must be notified promptly to Insurers for rates and terms to be agreed. Should a loss occur prior to such agreement being obtained cover may be provided but only if cover would have been available at a reasonable commercial market rate on reasonable market terms.
7.2 Where the subject-matter insured commences the transit contemplated by this insurance (in accordance with Clause 5.1), but, without the knowledge of the Assured or their employees the ship sails for another destination, this insurance will nevertheless be deemed to have attached at commencement of such transit.
CLAIMS
Insurable Interest
8. 8.1 In order to recover under this insurance the Assured must have an insurable interest in the subject matter insured at the time of the loss.
8.2 Subject to Clause 8.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Insurers were not.
Increased Value
9. 9.1 If any Increased Value insurance is effected by the Assured on the subject-matter insured under this insurance the agreed value of the subject-matter insuredshall be deemed to be increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured.
In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances.
9.2 Where this insurance is on Increased Value the following clause shall apply:
The agreed value of the subject-matter insured shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the subject-matter insured by the Assured, and liability under this insurance shall be in such proportion as the sum insured under this insurance bears to such total amount insured.
In the event of claim the Assured shall provide the Insurers with evidence of the amounts insured under all other insurances.
BENEFIT OF INSURANCE
10. This insurance
10.1 covers the Assured which includes the person claiming indemnity either as the person by or on whose behalf the contract of insurance was effected or as an assignee,
10.2 shall not extend to or otherwise benefit the carrier or other bailee.
MINIMISING LOSSES
Duty of Assured
11. It is the duty of the Assured and their employees and agents in respect of loss recoverable hereunder
11.1 to take such measures as may be reasonable for the purpose of averting or minimizing such loss, and
11.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised and the Insurers will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly and reasonably incurred in pursuance of these duties.
12. Measures taken by the Assured or the Insurers with the object of saving, protecting or recovering the subject matter insured shall not be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.
AVOIDANCE OF DELAY
13. It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control.
LAW AND PRACTICE
14. This insurance is subject to English law and practice.
NOTE:- Where a continuation of cover is requested under Clause 6, or a change of destination is notified under Clause 7, there is an obligation to give prompt notice to the Insurers and the right to such cover is dependent upon compliance with this obligation.
© Copyright: 11108 - Lloyd's Market Association (LMA) and International Underwriting Association of London
(IUA).
CL386
01/01/2009
INSTITUTE STRIKES CLAUSES (AIR CARGO)
RISKS COVERED
1. This insurance covers, except as provided in Clause 2 below, loss of or damage to the Risks Clause subject-matter insured caused by
RISKS CLAUSE
1.1 strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions
1.2 any terrorist or any person acting from a political motive.
EXCLUSIONS
2. In no case shall this insurance cover
GENERAL EXCLUSIONS CLAUSE
2.1 loss damage or expense attributable to willful misconduct of the Assured
2.2 ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the subject-matter insured
2.3 loss damage or expense caused by insufficiency or unsuitability of packing or preparation of the subject-matter insured (for the purpose of this Clause 2.3 "packing" shall be deemed to include stowage in a container or liftvan but only when such stowage is carried out prior to attachment of this insurance or by the Assured or their servants)
2.4 loss damage or expense caused by inherent vice or nature of the subject matter insured
2.5 loss damage or expense arising from unfitness of aircraft conveyance container or liftvan for the safe carriage of the subject-matter insured, where the Assured or their servants are privy to such unfitness at the time the subject-matter insured is loaded therein
2.6 loss damage or expense proximately caused by delay, even though the delay be caused by a risk insured against
2.7 loss damage or expense arising from insolvency or financial default of the owners managers charterers or operators of the aircraft
2.8 loss damage or expense arising from the absence shortage or withholding of labour of any description whatsoever resulting from any strike, lockout, labour disturbance, riot or civil commotion
2.9 any claim based upon loss of or frustration of the voyage or adventure
2.10 loss damage or expense arising from the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter
2.11 loss damage or expense caused by war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any
hostile act by or against a belligerent power.
DURATION
3. 3.1 This insurance attaches from the time the subject-matter insured leaves the warehouse, premises or place of storage at the
TRANSIT CLAUSE
place named herein for the commencement of the transit, continues during the ordinary course of transit and terminates either
----
3.1.1 on delivery to the Consignees' or other final warehouse, premises or place of storage at the destination named herein
3.1.2 on delivery to any other warehouse, premises or place of storage, whether prior to or at the destination named herein, which the
Assured elect to use either
3.1.2.1 for storage other than in the ordinary course of transit or
3.1.2.2 for allocation or distribution
or
3.1.3 on the expiry 30 days after unloading the subject-matter insured from the aircraft at the final place of discharge,
whichever shall first occur.
3.2 If, after unloading from the aircraft at the final place of discharge, but prior to termination of this insurance, the subject-matter insured is forwarded to a destination other than that to which it is insured hereUnder, this insurance, whilst remaining subject to termination as provided for above, shall not extend beyond the commencement of transit to such other destination.
3.3 This insurance shall remain in force (subject to termination as provided for above and to the provisions of Clause 4 below) during delay beyond the control of the Assured, any deviation, forced discharge, reshipment or transhipment and during any variation of the adventure arising from the exercise of a liberty granted to the air carriers under the contract of carriage.
4. If owing to circumstances beyond the control of the Assured either the contract of carriage is terminated at a place other than the destination named
TERMINATION OF CONTRACT OF
therein or the transit is otherwise terminated before delivery of the subject-matter insured as provided for in Clause 3 above, then this insurance
CARRIAGE CLAUSE
shall also terminate unless prompt notice is given to the Underwriters and continuation of cover is requested when the insurance shall remain in force, subject to an additional premium if required by the Underwriters, either
4.1 until the subject-matter is sold and delivered at such place or, unless otherwise specially agreed, until the expiry of 30 days after arrival of the subject-matter hereby insured at such place, whichever shall first occur,
or
4.2 if the subject-matter is forwarded within the said period of 30 days (or any agreed extension thereof) to the destination named herein or to any other destination, until terminated in accordance with the provisions of Clause 3 above.
5. Where, after attachment of this insurance, the destination is changed by the Assured, held covered at a premium and on conditions to be
CHANGE OF TRANSIT CLAUSE
arranged subject to prompt notice being given to the Underwriters.
CLAIMS
6. 6.1 In order to recover under this insurance the Assured must have an insurable interest in the subject-matter insured at the time
INSURABLE INTEREST CLAUSE
of the loss.
6.2 Subject to 6.1 above, the Assured shall be entitled to recover for insured loss occurring during the period covered by this insurance, notwithstanding that the loss occurred before the contract of insurance was concluded, unless the Assured were aware of the loss and the Underwriters were not.
7. 7.1 If any Increased Value insurance is effected by the Assured on the cargo insured herein the agreed value of the cargo shall be
INCREASED VALUE CLAUSE
deemed to be increased to the total amount insured under this insurance and all Increased Value insurances covering the loss, and liability under this insurance shall be in such proportion as the sum insured herein bears to such total amount insured.
In the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under all other insurances.
7.2 Where this insurance is on Increased Value the following clause shall apply:
The agreed value of the cargo shall be deemed to be equal to the total amount insured under the primary insurance and all Increased Value insurances covering the loss and effected on the cargo by the Assured, and liability under this insurance shall be in such proportion as the sum insured herein bears to such total amount insured. In the event of claim the Assured shall provide the Underwriters with evidence of the amounts insured under all other insurances.
BENEFIT OF INSURANCE
8. This insurance shall not inure to the benefit of the carrier or other bailee.
NOT TO INURE CLAUSE
MINIMISING LOSSES
9. It is the duty of the Assured and their servants and agents in respect of loss recoverable hereunder
DUTY OF ASSURED CLAUSE
9.1 to take such measures as may be reasonable for the purpose of averting or minimising such loss,
and
9.2 to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised
and the Underwriters will, in addition to any loss recoverable hereunder, reimburse the Assured for any charges properly
and reasonably incurred in pursuance of these duties.
10. Measures taken by the Assured or the Underwriters with the object of saving, protecting or recovering the subject-matter
WAIVER CLAUSE
insured shall not be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.
AVOIDANCE OF DELAY
11. It is a condition of this insurance that the Assured shall act with reasonable despatch in all circumstances within their control.
REASONABLE DESPATCH CLAUSE
LAW AND PRACTICE
12. This insurance is subject to English law and practice.
ENGLISH LAW AND PRACTICE CLAUSE
NOTE:- It is necessary for the Assured when they become aware of an event which is "held covered" under this insurance to give prompt notice to
the Underwriters and the right to such cover is dependent upon compliance with this obligation.
1/1/82
CL260