Senin, 16 November 2015

Endorsement 1363 Special conditions: conveyor belts and chains

CM insurance – Endorsement 1363
Special conditions: conveyor belts and chains


This endorsement forms part of section 1
and is subject otherwise to the terms, provisions, conditions and exclusions
contained in the policy of insurance or endorsed thereon.

1. Condition
1.1. In the event of loss of or damage to conveyor belts and chains, the amount
indemnifiable in respect of the items thus affected shall be depreciated at an annual
rate to be determined at the time of the loss, this rate being not less than 15% per
annum but not more than 75% in total, if no other depreciation rate is specified by
the manufacturer.
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