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Physical vs Moral Hazards : Bagaimana cara mengetahui suatu risiko mempunyai ‘Physical Hazard’ dan ‘Moral Hazard’ yang baik??

Principles & Practice of Ins|August 2, 2014August 2, 2014by IMAM MUSJAB

Physical Hazards  adalah hazards yang berkenaan dengan aspek-aspek fisik dari

Apa itu DWT, LWT, GT, NT Kapal ?

Hull & Machinery|August 1, 2014February 28, 2016by IMAM MUSJAB

apa itu DWT ? Berat kapal total pada saat garis

Frequently Asked Questions (FAQ) Edisi Kedua

Property Insurance|July 29, 2014July 29, 2014by IMAM MUSJAB

Download di sini untuk membaca Frequently Asked Questions (FAQ) Edisi

Stock Declaration Clause (Adjustable Premium)

Principles & Practice of Ins, Property Insurance|July 29, 2014January 25, 2015by IMAM MUSJAB

(uraian by Imam Musjab – silakan download Klausul dan Uraian

Apa Penyebab Utama Klaim Pada Asuransi Rekayasa (Engineering) ?

Engineering & Construction|May 4, 2014May 4, 2014by IMAM MUSJAB

Berdasarkan statistik yang dipublikasikan oleh IMIA the International Association of

Stock Throughput Insurance

Marine Cargo, Marine Cargo Insurance|April 9, 2014February 15, 2015by IMAM MUSJAB

What is Stock Throughput Insurance ? Stock Throughput Insurance covers

The Difference between the Transportation of Frozen Meat and Frozen Food

Marine Cargo, Marine Cargo Insurance|April 9, 2014February 15, 2015by IMAM MUSJAB

In this issue, we will discuss the difference between the

Tanggung Jawab Direksi dan Dewan Komisaris dalam Perseroan Terbatas

Directors & Officers (D&O), Directors and Officers Liability|April 9, 2014April 4, 2015by IMAM MUSJAB

Latar Belakang Seperti yang kita ketahui di dalam suatu Perseroan

Kecelakaan Kapal Laut : Mengapa Cuaca Selalu Disalahkan?

Maritime Casualty, Risk Management|April 8, 2014August 2, 2014by IMAM MUSJAB

“Musibah di Indonesia tahun ini (2013) banyak didominasi kecelakaan kapal

Kenali Bill of Lading: House atau Master?

Marine Cargo|March 21, 2014August 2, 2014by IMAM MUSJAB

Barang yang dikirim dengan kapal laut pada umumnya merupakan hasil

Apa yang tidak disampaikan oleh perusahaan asuransi kepada anda saat membeli asuransi kebakaran?

Property Insurance|March 9, 2014March 9, 2014by IMAM MUSJAB

What insurers do not tell you about fire insurance?

ATURAN INCOTERMS DAN ASURANSI PENGANGKUTAN

Marine Cargo|March 3, 2014March 4, 2014by IMAM MUSJAB

Pemberitaan yang sedang hangat di media terkait dengan transaksi ekspor

CLC v Bunker Convention (Blue Card)

Hull & Machinery, International Convention, Maritime Convention, Pelayaran, Protection & Indemnity, Protection & Indemnity (P&I)|March 2, 2014May 29, 2014by IMAM MUSJAB

CLC The International Convention on Civil Liability for Oil Pollution

EKSEKUSI PUTUSAN PENGADILAN ASING DAN KAITANNYA DENGAN GENERAL AVERAGE

Hull & Machinery, Marine Cargo, Maritime Convention, Pelayaran, Protection & Indemnity|February 25, 2014by IMAM MUSJAB

Dalam pergaulan internasional, khususnya yang berhubungan dengan praktek arbitrase, dunia

MALCOLM MCLEAN: “THE FATHER OF CONTAINERIZATION”

Marine Cargo|February 23, 2014February 24, 2014by IMAM MUSJAB

Kontener yang padanan kata Inggrisnya “container” memiliki definisi yang kurang

Apa yang sebenarnya dijamin dalam Freight, Demurrage & Defence (FD&D)?

Protection & Indemnity, Protection & Indemnity (P&I)|February 12, 2014May 29, 2014by IMAM MUSJAB

What is the Freight, Demurrage & Defence (FD&D) Insurance Really

Co-insurance under table

Principles & Practice of Ins|December 22, 2013December 22, 2013by IMAM MUSJAB

Co-insurance under table adalah praktik bisnis asuransi kerugian yang menurut

Port Authority Liability

Port & Terminal Liability, Terminal Operators Liability|December 22, 2013May 1, 2018by IMAM MUSJAB

Pelabuhan laut di seluruh dunia umumnya beroperasi dalam kaitannya dengan

Periode Pertanggungan Pada Polis Marine Cargo

Marine Cargo, Marine Cargo Insurance|December 22, 2013June 13, 2015by IMAM MUSJAB

Polis marine cargo adalah voyage policy yang menjamin objek pertanggungan

Persistent Oil dan Non Persistent Oil

Hull & Machinery, Protection & Indemnity, Protection & Indemnity (P&I)|October 22, 2013May 1, 2018by IMAM MUSJAB

Dalam P&I Policy, sifat persistensi minyak terhadang menyebabkan suatu proposal

Log Book : Buku Harian Kapal

Hull & Machinery|October 22, 2013February 7, 2016by IMAM MUSJAB

Dalam dunia pelayaran keberadaan Buku Harian / Log Book kapal

Wordings Polis Asuransi Kapal Bilingual

Hull & Machinery, Hull & Machinery (H&M)|October 22, 2013February 15, 2015by IMAM MUSJAB

Bagi rekan-rekan yang mencari Wordings Polis Asuransi Kapal Bilingual, dapat

PIRACY – A DANGER IN THE OCEAN

Hull & Machinery, Marine Cargo|October 21, 2013December 24, 2013by IMAM MUSJAB

Setelah kemaren sempat menyaksikan aksi heroik Kapten Phillips (Kapten kapal

QBE Asia P&I

Protection & Indemnity, Protection & Indemnity (P&I)|June 19, 2013May 29, 2014by IMAM MUSJAB

QBE Asia P&I specialises in the underwriting of P&I insurance

Introducing QBE Asia P&I

All Quotes, Protection & Indemnity, Protection & Indemnity (P&I)|June 19, 2013May 29, 2014by IMAM MUSJAB

PT. Asuransi QBE Pool Indonesia meluncurkan QBE Asia P&I pada

Survei Pra-pengiriman (Pre-shipment Survey)

Marine Cargo|June 15, 2013June 15, 2013by IMAM MUSJAB

Kapan pre-shipment survey diperlukan? Survei Pra-pengiriman (Pre-shipment Survey) diperlukan

Perils of the seas v Perils on the seas

Hull & Machinery, Marine Cargo|May 6, 2013May 6, 2013by IMAM MUSJAB

Apa yang dimaksud dengan Perils of the seas v Perils

Marine, Liability and Construction

Engineering & Construction, General Liability, General Liability (CGL), Hull & Machinery|April 14, 2013May 1, 2018by IMAM MUSJAB

PT. Asuransi QBE Pool Indonesia sebagai bagian dari QBE Insurance

Crew Liability dan Tanggung Jawab atas Kecelakaan Kerja Laut

Protection & Indemnity, Protection & Indemnity (P&I)|January 4, 2013by IMAM MUSJAB

Crew Liability adalah jaminan Protection & Indemnity (P&I) atas tanggung

Faulty Design Cover in CAR/EAR : MR115, MR200 v DE1, DE2, DE3, DE4, DE5 (1995) v LEG1, LEG2, LEG3 (1996) Endorsements

Contractors’ All Risks (CAR), Engineering & Construction, Erection All Risks (EAR)|December 25, 2012December 25, 2012by IMAM MUSJAB

Apakah kerugian atau kerusakan yang disebabkan oleh Faulty Design dijamin

Apa yang dijamin dalam Maintenance Covers?

Contractors’ All Risks (CAR), Engineering & Construction, Erection All Risks (EAR)|December 25, 2012December 25, 2012by IMAM MUSJAB

Banyak rekan-rekan yang masih belum mengerti apa yang dijamin dalam

Workmen’s Compensation v Jaminan Kecelakaan Kerja dan Penyakit Akibat Hubungan Kerja

Workmen's Compensation, Workmen's Compensation|December 22, 2012February 14, 2013by IMAM MUSJAB

Jaminan Kecelakaan Kerja (JKK) memberikan kompensasi dan rehabilitasi bagi tenaga

Banjir..Banjiir..!! Periksa Polis Anda Apakah Menjamin Kerusakan dan Kerugian Akibat Banjir?

Property Insurance|November 24, 2012November 24, 2012by IMAM MUSJAB

Polis Asuransi Anda tidak secara otomatis menjamin kerusakan dan kerugian

Endorsemen Banjir, Angin Topan, Badai dan Kerusakan Akibat Air

Fire Insurance, Property All Risks (PAR), Property Insurance|November 24, 2012November 24, 2012by IMAM MUSJAB

Read and Download Bilingual Version in Pdf : FTSWD Clause

What is the difference between Workmen’s Compensation and Employer’s Liability?

Workmen's Compensation, Workmen's Compensation|November 23, 2012May 1, 2018by IMAM MUSJAB

What is the difference between Worker’s Compensation and Employer’s Liability?

Tidak Semua Underwriters Mengerti Asuransi Liability – Ini Buktinya

General Liability, General Liability (CGL)|November 21, 2012February 15, 2015by IMAM MUSJAB

Saya tidak tahan untuk tidak menulis komentar atas Slip Reasuransi

“WARRANTED VESSEL CLASSED AND CLASS MAINTAINED”

Hull & Machinery, Hull & Machinery (H&M), Protection & Indemnity|November 18, 2012May 1, 2018by IMAM MUSJAB

“After a careful review and evaluation of your claim arising

Standard Trading Condition (STC) – GAFEKSI. What’s Your Limit of Liability?

Freight Forwarders Liability, Freight Forwarders Liability|November 13, 2012May 1, 2018by IMAM MUSJAB

Tanggung jawab perusahaan Freight Forwarders anggota GAFEKSI/INFA telah mengadopsi Limit

Public Liability v Product Liability

All Quotes, General Liability, Public Liability|October 25, 2012May 1, 2018by IMAM MUSJAB

Apa perbedaan antara Public Liability v Product Liability ? To

Apa yang dijamin dalam “Institute War Clauses” dan “Institute Strikes Clauses”?

Marine Cargo, Marine Cargo Insurance|October 24, 2012June 13, 2015by IMAM MUSJAB

Institute War Clauses (Cargo) Asuransi ini menjamin, kerugian atas atau

Institute War Clauses is not applicable to Inland Transit risks. Why?

Marine Cargo, Marine Cargo Insurance|October 24, 2012May 1, 2018by IMAM MUSJAB

Marine policies may be extended to cover War risk subject

Incoterms dan Prinsip Insurable Interest dalam Asuransi Pengangkutan Barang (Marine Cargo Insurance) – Siapa yang wajib membeli asuransi? Penjual atau Pembeli?

Marine Cargo, Marine Cargo Insurance|September 30, 2012February 15, 2015by IMAM MUSJAB

Incoterms atau International Commercial Terms  menjelaskan hak dan kewajiban pembeli dan penjual yang berhubungan dengan pengiriman

Apakah Penanggung Dapat Membatalkan Polis Sepihak?

Property Insurance, Risk Management|September 13, 2012February 7, 2016by IMAM MUSJAB

Apakah Tertanggung Dapat Membatalkan Polis? Tentu saja tidak ada yang

Apa Perbedaan Asuransi Kapal Jaminan ITCH Clause 280, Clause 284 dan Clause 289 ?

Hull & Machinery, Hull & Machinery (H&M)|September 12, 2012November 28, 2013by IMAM MUSJAB

Silakan baca, print atau download pdf version disini: Asuransi Kapal

Escape Clauses

Hukum Asuransi, Risk Management|September 4, 2012by IMAM MUSJAB

What is an Escape Clause? An escape clause is a

Institute Bulk Oil Clauses – a comparison

All Quotes, Marine Cargo, Marine Cargo Insurance|August 29, 2012September 9, 2012by IMAM MUSJAB

Please download here “Bedah Polis Institute Bulk Oil Clauses” to

Institute Cargo Clauses A / B / C – a comparison

All Quotes, Marine Cargo, Marine Cargo Insurance|August 26, 2012February 7, 2016by IMAM MUSJAB

Please download here “Bedah Polis Institute Cargo Clauses A /

Institute Coal Clauses – a comparison to ICC “B” and “C”

All Quotes, Marine Cargo, Marine Cargo Insurance|August 26, 2012September 9, 2012by IMAM MUSJAB

Batu bara (Coal) Please download here “Bedah Polis Institute Coal

Incoterms

Marine Cargo|July 4, 2012August 26, 2012by IMAM MUSJAB

Incoterms atau International Commercial Terms adalah kumpulan istilah yang dibuat untuk menyamakan pengertian

Leyland Shipping Co Ltd -v- Norwich Union Fire Insurance Society Ltd; HL 1918

Risk Management|July 4, 2012July 4, 2012by IMAM MUSJAB

The ship was insured against the perils of the sea

Apa perbedaan General Liability v Professional Liability?

General Liability, General Liability (CGL), Professional Indemnity|May 20, 2012February 15, 2015by IMAM MUSJAB

Banyak yang bingung apakah suatu klaim dijamin dalam Polis General

Konsep Dasar Asuransi Liability : Siapakah pihak ketiga? Kerugian apa saja yang dijamin?

General Liability, General Liability (CGL)|May 18, 2012May 1, 2018by IMAM MUSJAB

Asuransi Tanggung Jawab Hukum Terhadap Pihak Ketiga Liability Insurance adalah

“Warranty” dalam polis asuransi

Property Insurance, Risk Management|May 13, 2012May 13, 2012by IMAM MUSJAB

“Saya mau tanya yang dimaksud dengan warranty pada polis asuransi

Bankers Clause dalam Polis P&I, Tepatkah?

Hull & Machinery, Protection & Indemnity, Protection & Indemnity (P&I)|April 17, 2012May 1, 2018by IMAM MUSJAB

Salah satu bank swasta nasional besar mengirimkan surat permohonan pencantuman “Bankers

Financial Institutions Package Insurance

Financial Institutions (FIPI), Professional Indemnity|April 15, 2012May 13, 2012by IMAM MUSJAB

Download pdf version or Read in Bahasa Indonesia or Bilingual

Konsep Dasar Professional Liability

Professional Indemnity, Professional Indemnity (PI)|April 15, 2012September 26, 2015by IMAM MUSJAB

Professional Liability is liability to third party arising from the

Bagaimana menghitung klaim “Collision Liability” di H&M dan P&I?

Hull & Machinery, Hull & Machinery (H&M), Protection & Indemnity|April 15, 2012May 1, 2018by IMAM MUSJAB

Bagaimana menghitung proporsi klaim “Collision Liability” antara Polis H&M (Hull

Suggested Answer 501 Liability Insurance

General Liability|March 17, 2012March 27, 2016by IMAM MUSJAB

Suggested Answer 501 Liability Insurance Suggested Answer 501 Liability Insurance

Pembelaan dalam klaim Liability (Defences)

General Liability, General Liability (CGL)|February 5, 2012May 1, 2018by IMAM MUSJAB

Dalam setiap tuntutan tanggung jawab hukum pihak ketiga (Liability) selalu

Apakah asuransi menjamin dampak kerugian business interruption akibat pemogokan buruh di bekasi (jababeka)?

Insurance News, Property Insurance|February 5, 2012February 5, 2012by IMAM MUSJAB

”Perusahaan kami berada di kawasan Jababeka yang mengalami demo daripada

Bagaimana menghitung ganti rugi klaim tuntutan pihak ketiga (liability)?

General Liability, General Liability (CGL)|January 30, 2012February 15, 2015by IMAM MUSJAB

Pertanyaan yang sering diajukan klien adalah bagaimana perusahaan asuransi menghitung

Personal Liability? Why Not?

All Quotes, General Liability, General Liability (CGL)|January 11, 2012May 1, 2018by IMAM MUSJAB

Comprehensive General Liability (CGL) atau Professional Indemnity (PI) untuk Perusahaan

Marine Professional Negligence Insurance (MPI) Policy

All Quotes, Marine Professional Liability, Professional Indemnity, Professional Indemnity (PI)|January 10, 2012May 1, 2018by IMAM MUSJAB

Marine Professional Negligence Insurance (MPI) covers professionals in marine industry

Apa yang dijamin dalam 3/4THS COLLISION LIABILITY?

Hull & Machinery, Hull & Machinery (H&M)|January 1, 2012April 24, 2016by IMAM MUSJAB

Perhatikan “Clause 8” Institute Time Clauses – Hulls Clause 280

Apakah “Institute Time Clauses – Hulls Clause 280” sudah menjamin 4/4THS RDC + FFO?

Hull & Machinery, Hull & Machinery (H&M)|December 31, 2011April 24, 2016by IMAM MUSJAB

Diskusi yang menarik terjadi saat saya menjelaskan “Asuransi P&I” kepada

Apa yang dimaksud dengan “Occurrence Basis”?

General Liability, General Liability (CGL)|December 26, 2011May 1, 2018by IMAM MUSJAB

“OCCURRENCE” means an event, including continuous or repeated exposure to

What is negligence?

General Liability, General Liability (CGL)|December 25, 2011May 1, 2018by IMAM MUSJAB

Negligence is a failure to take reasonable care to avoid

Pilot Non-liability Clause

Hull & Machinery, Hull & Machinery (H&M)|October 30, 2011February 15, 2015by IMAM MUSJAB

This insurance shall not be prejudiced by reason of any

What is a General Average (GA)?

Hull & Machinery, Marine Cargo|October 30, 2011February 5, 2012by IMAM MUSJAB

A general average act is succinctly defined in Rule A

Suggested Answer 304 Asuransi Kendaraan Bermotor

Principles & Practice of Ins|September 23, 2011March 27, 2016by IMAM MUSJAB

Subjek ujian AAMAI 304 Asuransi Kendaaraan Bermotor (Silabus Study Course

Suggested Answer 301 Prinsip-Prinsip Asuransi Harta Benda & Kepentingan Keuangan

Principles & Practice of Ins, Property Insurance|September 23, 2011March 27, 2016by IMAM MUSJAB

Subjek ujian AAMAI 301 Prinsip-Prinsip Asuransi Harta Benda & Kepentingan

Event Cancellation and Non-Appearance Insurance

All Quotes, General Liability, Public Liability|September 10, 2011May 1, 2018by IMAM MUSJAB

Event Cancellation & Abandonment This insurance indemnifies the Insured parties

Mortgagees’ Interests & Innocent Owners’ Interests

All Quotes, Hull & Machinery, Hull & Machinery (H&M), Marine Cargo Insurance|September 7, 2011May 20, 2012by IMAM MUSJAB

Klaim asuransi kapal bisa jadi klaim yang paling rumit (dibandingkan

Increased Value (IV) & Anticipated Owners Interests(AOI)

All Quotes, Hull & Machinery, Hull & Machinery (H&M)|September 6, 2011May 18, 2012by IMAM MUSJAB

Jaminan tambahan yang perlu dipertimbangkan oleh shipowner dalam asuransi kapal

Entity cover for Critical Occurrence

Directors & Officers (D&O), Directors and Officers Liability, Directors’ & Officers’|August 25, 2011September 10, 2011by IMAM MUSJAB

Entity cover for Critical Occurrence: Cover is available for the

Endorsement 102: Special conditions concerning underground cables, pipes and other facilities

Contractors' All Risks (CAR), Engineering & Construction|August 21, 2011October 22, 2013by IMAM MUSJAB

Apakah putusnya jaringan kabel serat optik PT. Telkom dan pipa

Institute Cargo Clauses 01/01/2009

Marine Cargo|June 22, 2011January 12, 2014by IMAM MUSJAB

Following an extensive period of world-wide consultation going back to

Delay: Apakah kerusakan karena ‘keterlambatan’ dijamin dalam ICC (1982)?

Marine Cargo|April 28, 2011April 28, 2011by IMAM MUSJAB

Menarik ‘membaca perdebatan’ di Group BBM Magang 1994 dari pertanyaan

Apa yang harus dilakukan bila telat bayar premi?

Learn More, Risk Management|April 25, 2011April 25, 2011by IMAM MUSJAB

Pertanyaan menarik dari rekan pembaca AHLIASURANSI.com (sdr. Arnold) sehubungan dengan

Telat bayar premi: Apakah polis otomatis batal?

Risk Management|April 21, 2011February 28, 2016by IMAM MUSJAB

Banyak yang bertanya bagaimana kalau tertanggung telat bayar premi? Apakah

Who is the Underwriter?

Risk Management|March 10, 2011March 10, 2011by IMAM MUSJAB

In the early days of marine insurance, the details of

Siapa yang anda hubungi untuk penutupan asuransi?

Risk Management|February 15, 2011February 15, 2011by IMAM MUSJAB

Pooling yang penulis buat di polldaddy.com menunjukkan kompetisi yang berimbang

Jangan gampang menolak klaim karena alasan “insufficiency or unsuitability of packing”!!

Marine Cargo|February 13, 2011July 1, 2011by IMAM MUSJAB

Hal yang mungkin paling ditakutkan oleh “Tertanggung” dalam hal terjadi

Apakah “Loading-Unloading” dijamin di ICC 1/1/82 (Institute Cargo Clauses 1/1/82)?

Marine Cargo|February 13, 2011April 21, 2011by IMAM MUSJAB

Pertanyaan yang selama ini menjadi perdebatan dikalangan praktisi asuransi marine

Menghitung klaim “Business Interruption”

Property Insurance, Property Insurance|February 7, 2011February 7, 2011by IMAM MUSJAB

Surprising to have a question “How to calculate a Business

JKK Jamsostek vs Pertamina Benefits : Apa bedanya??

Workmen's Compensation|January 18, 2011May 30, 2015by IMAM MUSJAB

Updated :  karena mereka menganut perhitungan “Pertamina Benefits dikurangi Jamsostek”

Program Jaminan Kecelakaan Kerja

Workmen's Compensation|January 18, 2011by IMAM MUSJAB

Pengertian   Kecelakaan kerja termasuk penyakit akibat kerja merupakan risiko

What is a “Claims Made Basis”?

General Liability, General Liability (CGL)|January 14, 2011April 15, 2012by IMAM MUSJAB

a “claims made policy” – No claim can be made

“Civil Liability” vs “Negligence, Error or Omission” wordings in Professional Indemnity Policy

Professional Indemnity, Professional Indemnity (PI)|January 10, 2011February 15, 2015by IMAM MUSJAB

Civil Liability wording covers “civil liability” incurred by the Insured

ICT Claims Scenarios

Information & Technology, Liability Casualty, Professional Indemnity|January 5, 2011May 1, 2018by IMAM MUSJAB

Technology E&O – “Internet Content” – A health system accidentally

Prinsip Tanggung Jawab Dalam Pengangkutan

Freight Forwarders Liability, Freight Forwarders Liability|December 21, 2010May 1, 2018by IMAM MUSJAB

  1.   Prinsip tanggung jawab berdasarkan kesalahan (fault liability) 2.  

What is a Bill of Lading?

Freight Forwarders Liability, Freight Forwarders Liability|December 21, 2010May 1, 2018by IMAM MUSJAB

What is a Bill of Lading?     1)       It

Cargo Liability

Protection & Indemnity, Protection & Indemnity (P&I)|September 25, 2010by IMAM MUSJAB

Jaminan kerugian, kerusakan atau kekurangan barang muatan (Cargo Liability) adalah

Penahanan dan Penyitaan Kapal

Protection & Indemnity, Protection & Indemnity (P&I)|September 25, 2010January 3, 2011by IMAM MUSJAB

Penyitaan kapal dapat bersifat sementara berupa penundaan keberangkatan kapal disuatu

Perils vs Hazards?

Risk Management|July 15, 2010July 15, 2010by IMAM MUSJAB

Sering orang mempersamakan pengertian Risiko dengan Peril dan Hazard. Memang

What is a Risk?

Risk Management|July 15, 2010September 25, 2010by IMAM MUSJAB

Risiko sendiri juga merupakan inti dari pada kehidupan itu sendiri,

Collision and Non Contact Incidents

Hull & Machinery|June 2, 2010by IMAM MUSJAB

Introduction Collision is one of the few areas where third

Fixed and Floating Objects (FFO)

Hull & Machinery, Protection & Indemnity (P&I)|June 2, 2010May 1, 2018by IMAM MUSJAB

Under the Rules of the Club, cover of a vessel’s liabilities for

What is a 3/4th Collision Liability?

Hull & Machinery, Hull & Machinery (H&M)|June 2, 2010May 1, 2018by IMAM MUSJAB

Assume that both vessels in an example collision are insured

Legal Cost & Expenses Cover for Ship Owners / Operators

Protection & Indemnity|May 11, 2010May 11, 2010by IMAM MUSJAB

Subject to the direction and discretion of the Underwriter, the