ITC Clause

a consequence of escape or release of pollutant substances from the Vessel, or the threat of such escape or release.


10.6. Clause 10.5. shall not however exclude any sum which the Assured shall pay to salvors for or in respect of salvage remuneration in which the skill and efforts of the salvors in preventing or minimising damage to the environment as is referred to in Article 13 paragraph 1 (b) of the International Convention on Salvage, 1989 have been taken into account.


11. Duties of Assured (Sue & Labour)


11.1. In case of any loss or misfortune it is the duty of the Assured and their servants and agents to take such measures as may be reasonable for the purpose of averting or minimising a loss which would be recoverable under this insurance.


11.2. Subject to the provisions below and to Clause 12 the Underwriters will contribute to charges properly and reasonably incurred by the Assured their servants or agents for such measures. General average, salvage charges (except as provided for in Clause 11.5.), special compensation and expenses as referred to in Clause 10.5. and collision defence and attack costs are not recoverable under this Clause 11.


11.3. Measures taken by the Assured or the Underwriters 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.


11.4. When expenses are incurred pursuant to this Clause 11 the liability under this insurance shall not exceed the proportion of such expenses that the amount insured hereunder bears to the value of the Vessel as stated herein, or to the sound value of the Vessel at the time of the occurrence giving rise to the expenditure if the sound value exceeds that value. Where the Underwriters have admitted a claim for total loss and property insured by this insurance is saved, the foregoing provisions shall not apply unless the expenses of suing and labouring exceed the value of such property saved and then shall apply only to the amount of the expenses which is in excess of such value.


11.5. When a claim for total loss of the Vessel is admitted under this insurance and expenses have been reasonably incurred in saving or attempting to save the Vessel and other property and there are no proceeds, or the expenses exceed the proceeds, then this insurance shall bear its pro rata share of such proportion of the expenses, or of the expenses in the excess of the proceeds. As the case may be, as may reasonably be regarded as having been incurred in respect of the Vessel, excluding all special compensation and expenses as referred to in Clause 10.5.; but if the Vessel be insured for less than its sound value at the time of the occurrence giving rise to the expenditure, the amount recoverable under this clause shall be reduced in the proportion to the under-insurance.


11.6. The sum recoverable under this Clause 11 shall be in addition to the loss otherwise recoverable under this insurance but shall in no circumstances exceed the amount insured under this insurance in respect of the Vessel.


12. Deductible


12.1. No claim arising from a peril insured against shall be payable under this insurance unless the aggregate of all such claims arising out of each separate accident or occurrence (including claims under Clause 8, 10 and 11) exceeds the deductible amount agreed in which case this sum shall be deducted.

Nevertheless the expense of sighting the bottom after stranding, if reasonably incurred specially for that purpose, shall be paid even if no damage be found. This Clause 12 shall not apply to a claim for total loss or constructive loss of the Vessel or, in the event of such a claim, to any associated claim under Clause 11 arising from the same accident or occurrence.


12.2. Claims for damage by heavy weather occurring during a single sea passage between two successive ports shall be treated as being due to one accident. In the case of such heavy weather extending over a period not wholly covered by this insurance the deductible to be applied to the claim recoverable hereunder shall be the proportion of the above deductible that the number of days of such heavy weather falling within the period of this insurance bears to the number of days of heavy weather during the single sea passage. The expression «heavy weather» in this Clause 12.2. shall be deemed to include contact with floating ice.


12.3. Excluding any interest comprised therein, recoveries against any claim which is subject to the above deductible shall be credited to the Underwriters in full to the extent of the sum by which the aggregate of the claim unreduced by any recoveries exceeds the above deductible.


12.4. Interest comprised in recoveries shall be apportioned between the Assured and the Underwriters, taking into account the sums paid by the Underwriters and the dates when such payments were made, notwithstanding that by the addition of interest the Underwriters may receive a larger sum than they have paid.


13. Notice of Claim and Tenders


13.1. In the event of accident whereby loss or damage may result in a claim under this insurance, notice must be given to the Underwriters promptly after the date on which the Assured, Owners or Managers become or should have become aware of the loss or damage and prior to survey so that a surveyor may be appointed if the Underwriters so desire.

If notice is not given to the Underwriters within twelve months of that date unless the Underwriters agree to the contrary in writing, the Underwriters will be automatically discharged from liability for any claim under this insurance in respect of or arising out of such accident or the loss or damage.


13.2. The Underwriters shall be entitled to decide the port to which the Vessel shall proceed for docking or repair (the actual additional expense of the voyage arising from compliance with the Underwriters’ requirements being refunded to the assured) and shall have a right of veto concerning a place of repair or a repairing firm.


13.3. The Underwriters may also take tenders or may require further tenders to be taken for the repair of the Vessel. Where such a tender has been taken and a tender is accepted with the approval of the Underwriters, an allowance shall be made at the rate of 30% per annum on the insured value for the time lost between despatch of the invitations to tender required by the Underwriters and the acceptance of a tender to the extent that such time is lost solely as a result of tenders having been taken and provided that the tender is accepted without delay after receipt of the Underwriters’ approval.

Due credit shall be given against the allowance as above for any amounts recovered in respect of fuel and store and wages and maintenance of the Master Officers and Crew or any member thereof, including amounts allowed in general average, and for any amounts recovered from third parties in respect of damages for detention and/or loss of profit and/or running expenses, for the period covered by the tender allowance or any part thereof.

Where a part of the cost of the repair of damage other than a fixed deductible is not recoverable from the Underwriters the allowance shall be reduced by a similar proportion.


13.4. In the event of failure by the Assured to comply with the conditions of Clauses 13.2. and/or 13.3. a deduction of 15% shall be made from the amount of the ascertained claim.


14. New for Old


Claims payable without deduction new for old.


15. Bottom Treatment


In no case shall a claim be allowed in respect of scraping gritblasting and /or other surface preparation or painting of the Vessel’s bottom except that


15.1. gritblasting and/or other surface preparation of new bottom plates ashore and supplying and applying any «shop» primer thereto,


15.2. gritblasting and/or other surface preparation of:


the butts or area of plating immediately adjacent to any renewed or refitted plating damaged during the course of welding and/or repairs,


areas of plating damaged during the course of fairing, either in place or ashore,


15.3. supplying and applying the first coat of primer/anti-corrosive to those particular areas mentioned in 15.1. and 15.2. above,


shall be allowed as part of the reasonable cost of repairs in respect of bottom plating damaged by an insured peril.


16. Wages and Maintenance


No claim shall be allowed, other than in general average, for wages and maintenance of the Master Officers and Crew or any member thereof, except when incurred solely for the necessary removal of the Vessel from one port to another for the repair of damage covered by the Underwriters, or for trial trips for such repairs, and then only for such wages and maintenance as are incurred whilst the Vessel is under way.


17. Agency Commission


In no case shall any sum be allowed under this insurance either by way of remuneration of the Assured for time and trouble taken to obtain and supply information or documents or in respect of the commission or charges of any manager, agent, managing or agency company or the like, appointed by or on behalf of the Assured to perform such services.


18. Unrepaired Damage


18.1. The measure of indemnity in respect of claims for unrepaired damage shall be reasonable depreciation in the market value of the Vessel at the time this insurance terminates arising from such unrepaired damage, but not exceeding the reasonable cost of repairs.


18.2. In no case shall the Underwriters be liable for the unrepaired damage in the event of a subsequent total loss (whether or not covered under this insurance) sustained during the period covered by this insurance or any extension thereof.


18..3. The Underwriters shall not be liable in respect of the unrepaired damage for more than the insured value at the time this insurance terminates.


19. Constructive Total Loss


19.1. In ascertaining whether the vessel is a constructive total loss, the insured value shall be taken as the repaired value and nothing in respect of the damage or break-up value of the Vessel or wreck shall be taken into account.


19.2. No claim for constructive total loss based upon the cost of recovery and/or repair of the Vessel shall be recoverable hereunder unless such cost would exceed the insured value. In making this determination, only the cost relating to a single accident or sequence of damages arising from the same accident shall be taken into account.


20. Freight Waiver


In the event of total or constructive loss no claim to be made by the Underwriters for freight whether notice of abandonment has been given or not.


21. Assignment


No assignment of or interest in this insurance or in any moneys which may be or become payable thereunder is to be binding on or recognised by the Underwriters unless a dated notice of such assignment or interest signed by the Assured, and by the assignor in the case of subsequent assignment, is endorsed on the Policy and the Policy with such endorsement is produced before payment of any claim or return of premium thereunder.


22. Disbursements Warranty


22.1. Additional insurances as follows are permitted:


22.1.1. Disbursements, Managers’ Commissions, Profits or Excess or Increased Value of Hull and Machinery. A sum not exceeding 25% of the value stated herein.


22.1.2. Freight, Chartered Freight or Anticipated Freight, insured for time. A sum not exceeding 25 % of the value stated herein less any sum insured, however described, under 22.1.1.


22.1.3. Freight or Hire, under contract for voyage. A sum not exceeding the gross freight or hire for the current cargo passage and next succeeding cargo passage (such insurance to include, if required, a preliminary and intermediate ballast passage) plus the charges of insurance. In the case of a voyage charter where payment is made on a time basis, the sum permitted for insurance shall be calculated on the estimated duration of the voyage, subject to the limitation of two cargo passages as laid down herein. Any sum insured under 22.1.2. to be taken into account and only the excess thereof may be insured, which excess shall be the gross amount so advanced or earned.


22.1.4. Anticipated Freight if the Vessel sails in ballast and not under Charter. A sum not exceeding the anticipated gross freight on next cargo passage, such sum to be reasonably estimated on the basis of the current rate of freight at time of insurance plus the charges of insurance. Any sum insured under 22.1.2. to be taken into account and only the excess thereof may be insured.


22.1.5. Time Charter Hire or Charter Hire for Series of Voyages. A sum not exceeding 50% of the gross hire which is to be earned under the charter not exceeding 18 months. Any sum insured under 22.1.2. to be taken into account and only the excess thereof may be insured, which excess shall be reduced as the hire is advanced or earned under the charter by 50% of the gross amount so advanced or earned but the sum insured need not be reduced while the total of the sums insured under 22.1.2. and 22.1.5. does not exceed 50% of the gross hire still to be earned under the charter. An insurance under this Section may begin on the signing of the Charter.


22.1.6. Premiums. A sum not exceeding the actual premiums of all interests insured for a period not exceeding 12 months (excluding premiums insured under the foregoing sections, but including, if required, the premiums or estimated calls on any Club or War etc. Risk insurance) reducing pro rata

Если Вам нужна помощь с академической работой (курсовая, контрольная, диплом, реферат и т.д.), обратитесь к нашим специалистам. Более 90000 специалистов готовы Вам помочь.
Бесплатные корректировки и доработки. Бесплатная оценка стоимости работы.

Поможем написать работу на аналогичную тему

Получить выполненную работу или консультацию специалиста по вашему учебному проекту
Нужна помощь в написании работы?
Мы - биржа профессиональных авторов (преподавателей и доцентов вузов). Пишем статьи РИНЦ, ВАК, Scopus. Помогаем в публикации. Правки вносим бесплатно.

Похожие рефераты: