Klausul Machinery Breakdown

 

 

 

 

 

Note :

Indemnity under this policy only granted if at the date of any loss destruction or damage premium due at that date has been paid in full. In witness thereof the undersigned being duly authorized by the insured and on behalf of the insured has (have) hereunto set his (their) hand(s).

 

 

 

 

Signed for and on behalf of insurer

Bekasi, 24 May 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AUTOMATIC REINSTATEMENT OF SUM INSURED CLAUSE

The Insurance by this shall not be reduced by the amount of any loss unless specific is given by the insurer to the contrary and the Insurer undertakes to pay the appropriate extra premium on the amount of the loss from the date of the thereof to the date of the  expiry of the period of insurance.

 

CANCELLATION NOTICE (30) DAYS

It is hereby and agreed that this policy cannot be suspended or cancelled without the insurance Company advising in writing of such intended cancellation or suspension and notifying the Insured's broker 30 days written notice

 

CONSTRUCTIVE TOTAL LOSS (75%)

It is noted and agreed that loss or damage would constitute Total Loss Only if the cost of repairing and/or replacing the damage part(s) of the insured object based on quotation made by repair shop/parts dealer appointed by the insurer reaches or exceeds 75% of the actual cash value of the Insured object immediately before the occurrence of the loss or damage. Decision made by the Insurer(s) will be final and binding.

 

COVER FOR INTERNAL FIRE, INTERNAL CHEMICAL EXPLOSION AND DIRECT LIGHTNING

It is agreed and understood that otherwise subject to terms, exclusion, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended  to cover loss or damage due to fire or chemical explosion having originated within items(s) No(s) contained in the specification of the Policy or due to the extinguishing of such fire of such fire or to direct lightning, but all loss or damage outside the item(s) of machinery due to the spreading of such fire or chemical explosion or the extinguishing of such fire or such direct lightning shall be excluded.

 

DEFUNCT SPARES CLAUSE (USD 1,000)

It is noted and agreed that in the event of spares currently insured hereunder and represented within the Total Sum Insured under the Policy becoming absolute following an indemnifiable loss to the unit and/or units to which they belong, such spares shall also be deemed a constructive  total loss. Provided always that such spares cannot be used as spares for any other units within the premises of the Insured. Insurers retain salvage rights over such parts.

 

EXTRA EXPENSES FOR EXPRESS FREIGHT AND EXTRA CHARGE FOR OVERTIME WORK (10% OF TOTAL

SUM INSURED)

It is agreed and understood that otherwise subject to terms, exclusions, provisions and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover extra charges for overtime, night work, work on public holidays and express freight (excluding airfreight)

LOSS NOTIFICATION CLAUSE (14 days)

Notwithstanding anything contained herein to the contrary it is agreed that this insurance will not be prejudiced by any inadvertent delays, errors or omission in notifying the Company of any circumstances or events giving rise or likely to give rise a claim under this policy.

 

NOTIFICATION CLAUSE

The present situation, manner of connection, construction, nature and interior of the buildings and also the trade carried on therein, is known to us.

 

NEW REPLACEMENT VALUE CLAUSE

It is agreed and understood that the replacement settlement of the properties hereby insured is to include the basic price of the new replacement items, plus any duties, customs, import tax, freight costs and/or insurance premium (if applicable).

 

Provided always that such extra charges shall be incurred connection with any loss of or damage to the insured items recoverable under the Policy.

 

If the sum(s) insured of the damaged item(s) is (are) less then the amount(s) required to be insured, the amount payable under this Endorsement for such extra charges shall be reduced in the same proportion.

 

 

 

 

 

 

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