RETURN SHIPMENTS CLAUSE

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In the event of shipments Insured under this Policy being returned for any reason, Underwriters hereon agree to hold covered such shipments, continuously here under, including whilst in warehouse or elsewhere until finally disposed of by the Assured.

Reports of such returned shipments to be made to the Underwriters by the Assured as soon as practicable after they have knowledge of same.

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These risks are held covered at rates to be agreed, subject to Underwriter’s agreement regarding the overall extension period required and subject to individual details of each case as may arise

In those cases where returned goods were not insured under this Policy for the outward voyage or where cover under this Policy has not been continuous, it is agreed that shipments are held covered at rates to be agreed, subject to the Institute Cargo Clauses (B) 1.1.82 including heavy weather damage and loss overboard and the Institute War and Strikes Clauses. Cover is also automatically extended to include the Institute Malicious Damage Clause without additional premium

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