Additional perils clause
WebRelated to Mortgagee’s interest and additional perils. Interest and Late Charges If Tenant fails to pay any Rent when due, the unpaid amounts shall bear interest from the due date until paid at a rate per annum equal to the Prime Rate plus five percent (5%) or, if less, at the highest rate of interest permitted by applicable law. As used herein, “Prime Rate” … WebAdditional Perils Clause (CL294), may be agreed on placing. 1.1 the costs of repairing or replacing any boiler which bursts or shaft which breaks, where such bursting or breakage has caused loss of or damage to the subject-matter insured covered by Clause 2.2.1 and that half of the costs common to the repair of burst boiler or the broken shaft ...
Additional perils clause
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Web(For use whenever the Institute Machinery Damage Additional Deductible Clause and the Institute Additional Perils Clauses 1/10/83) (For use only with the American Institute Hull Clauses) are included in the same insurance) The above-mentioned Institute Machinery Damage Additional Deductible Clause 1/10/83 shall also apply to any claim or WebCite. Mortgagee's interest and additional perils (pollution) insurances. (a) The Security Agent shall effect, maintain and renew a mortgagee 's interest marine insurance and a mortgagee's interest additional perils ( pollution) insurance, covering, in relation to mortgagee's interest marine insurance, not less than 120 per cent. of the Loan and ...
WebEssentially, the clause insures the voyage from perils “of” the sea. Perils on the sea, such as fire, are not covered unless specifically mentioned. Furthermore, although the perils clause indicates coverage from “enemies, pirates, rovers, thieves,” the policy does not cover losses from war. WebJul 30, 2024 · Abstract In marine insurance, the assured may expand the coverage of insurance by paying additional premium, unless otherwise stated, if the policy includes …
WebMORTGAGEES’ ADDITIONAL PERILS (POLLUTION) CLAUSE 1. INSURING CLAUSE 1.1 Whereas the Assured has entered into a loan agreement, dated {Response}, commensurate with which the Assured holds "inter alia" a first mortgage on the mortgaged vessel(s) and endorsements of its interests on the owners' policies and club entries as collateral security. WebCoverage for “open perils”— and similar terms such as "all perils," "all risk," or "special perils," coverage — means that damage or loss from all potential perils may be covered …
WebThe loss is covered by one of the many other perils covered in the policy (i.e. fire) 2. The Additional Perils - Inchmaree Clause extends coverage to losses caused by the negligence of charterers and repairers, unless listed as insureds. Explain specifically how the Linear Negligence Clause modifies coverage under the AIHC?
WebThe initial payment of interest on any Security of any series that is issued between a Regular Record Date and the related Interest Payment Date shall be payable as … gilgamesh geographyWebThe ‘additional perils’ clause is based upon, and drew its name from, the well known case of Inchmaree, below. At the time, a marine policy only provided cover for losses of a … gilgamesh gates of babylonWebSPECIAL/EXTRANEOUS PERILS CLAUSES AND ENDORSEMENTS 1. AIRCRAFT DAMAGE a) Rate: 0.005% b) Endorsement Wording In consideration of an additional premium, the Company hereby agree and declare that the insurance under the Policy shall, subject to the Special Conditions hereinafter contained, extend to include loss or damage ft worth central libraryWebEssentially, the clause insures the voyage from perils “of” the sea. Perils on the sea, such as fire, are not covered unless specifically mentioned. Furthermore, although the perils … gilgamesh genshinWebDec 1, 2013 · Free of Particular Average A clause in a basic marine cargo insurance policy restricting settlements in the case of partial losses attributable to perils of the sea or incidents where the vessel has been sunk, burned, or stranded during the course of the voyage. An F.P.A. policy provides the most limited coverage. The [...]... gilgamesh gifsWebINSTITUTE WAR AND STRIKES CLAUSES ... 1 PERILS Subject always to the exclusions hereinafter referred to, this insurance covers loss of or damage to the Vessel caused by 1.1 war civil war revolution rebellion insurrection, or civil strife arising therefrom, or any hostile ... described) additional premium shall be paid at the discretion of ... ft worth central office aahttp://www.seamanship.eu/marine-clauses-77/instcl/cl294.pdf gilgamesh ghost shell