SELLLERS INTEREST CLAUSE

S-Clauses102 Views
banner 468x60

“All Risks” insurance to protect the Assured only if required on Cost and Freight (C&F). free on Board (FOB) or other “Uninsured” sales.

This Insurance to indemnify the Assured for loss and/or damage recoverable under the above clauses, but shall pay only if and to the extent that the buyer fails to pay for such lost and/or  damaged goods and/or refuses the goods and/or the documents of title thereof; the goods this remaining the property of and/or at the risk of the Assured.

banner 336x280

Further agreed to cover prevention of transfer of title to buyer and/or reversion of title by reason of the exercise of the right of stoppage in transit and/or non-transfer of title from any other legitimate cause.

In the event of any delay or deviation caused by the failure of the Consignee to take up the goods or documents, held covered at an additional premium to be arranged, which provisions shall be included within the Policy and will be deemed to override any conditions expressed to the contrary.

Where required by the Assured, Underwriters agree to supply General Average Guarantees or refund General Average Deposits.

Underwriters to be subrogated to the Assured’s rights against the buyer as well as other parties.

Any assignment of this section of the Policy or of any interest or claims hereunder shall discharge Underwriters from all liability whatsoever, this insurance protecting only the interest of the assured and/or associate companies.

banner 336x280

Leave a Reply

Your email address will not be published. Required fields are marked *