STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED CHARTERERS COVER 2018 / 2019

Transcription

1 STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED CHARTERERS COVER 2018 / 2019 STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED Authorised y the Prudentil Regultion Authority nd regulted y the Finnil Condut Authority nd Prudentil Regultion Authority (Registered in Englnd nd Wles Registrtion numer PRA nd FCA registrtion numer ) MANAGERS: STEAMSHIP P&I MANAGEMENT LLP SPIM is n ppointed representtive of Stemship Insurne Mngement Servies Limited whih is uthorised nd regulted y the Finnil Condut Authority (Registered in Englnd nd Wles Registrtion Numer OC FCA registrtion numer ) AQUATICAL HOUSE 39 BELL LANE LONDON E1 7LU Tel: Wesite:

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3 STEAMSHIP MUTUAL UNDERWRITING ASSOCIATION LIMITED CLAUSES FOR CHARTERERS TERMS OF ENTRY PROTECTION AND INDEMNITY DAMAGE TO HULL TIME CHARTERERS BUNKERS 1 These Cluses pply to entry in Stemship Mutul Underwriting Assoition Limited, hereinfter referred to s the Clu, of ny Memer, (s defined in Cluse 2 elow), for Chrterers llity over. 2 Definitions In these Cluses the words nd phrses hereinfter set out shll hve the following menings or effets if not inonsistent with the sujet or ontext: Crgo Chrterer Continer Contriuting Tonnge Diretors Effets Entered Ship Fleet Entry Hgue nd Hgue Visy Rules Hull Poles Mngers Memer mens goods, inluding mterils used for the pking of goods, in respet of whih n Owner or Memer enters into ontrt of rrige, ut exluding ontiners or other equipment owned or lesed y the Memer or ny other prty in ommon or ssoited ownership or mngement; mens ny hrterer of ship or ny prt of its pssenger or rgo rrying pity other thn y wy of demise; inludes triler, flt, pllet, tnk, or ny other equipment, the funtion of whih is the ontinment or trnsport of rgo during rrige; mens the gross tonnge of ship, or other greed tonnge upon whih, ording to the terms of entry of the ship, ontriution is pid to the funds of the Clu; mens the Bord of Diretors for the time eing of the Clu; mens personl property, douments, nvigtionl or other tehnil instruments nd tools rought on ord, or eing tken to or from, the Entered Ship y Semn or Supernumerry, ut exluding sh, vlules or ny other rtile whih in the opinion of the Mngers is not n essentil requirement for Semn; mens ship whih hs een entered in the Clu for ny of the risks enumerted herein in the mnner hereinfter provided; mens the entry of more thn one Ship y one or more Memers where it is greed y the Mngers tht those ships shll e treted s single fleet for underwriting purposes; mens respetively the Interntionl Convention for the Unifition of Certin Rules relting to Bills of Lding signed t Brussels on 25 August 1924 nd tht Convention s mended y the Protool signed t Brussels on 23 Ferury 1968; mens the Poles effeted on the Hull nd Mhinery of ship, inluding Exess Llity Poles; mens Stemship P&I Mngement LLP, the ppointed Mngers of the Clu nd their London servie ompny, Stemship Insurne Mngement Servies Limited; mens every Chrterer of ship or prt of ship or its pssenger or rgo rrying pity entered y it in the Clu, or ny person or entity who effets n entry for insurne in the Clu, under these Cluses; 1

4 Open Cover Owner Pssenger Poliy Period Poliy Yer Semn Ship Sttutory Oligtions Supernumerry Tonnge Towge mens over wherey the Memer my delre entries of hrtered ships from time to time during the period of suh over in ordne with its terms; mens n owner, owners in prtnership, owners holding seprte shres in severlty, prt owner, mortggee, trustee, opertor, mnger of ship, or ny Chrterer of ship other thn the Memer or ny prty to whom the Memer hs su hrtered the ship or whose interest s Chrterer derives from suh prty; mens ny person rried on the Entered Ship pursunt to ontrt for rrige; mens suh period of time s my over the effetive period of prtiulr entry; mens the yer from noon Greenwih Men Time on 20 Ferury to noon Greenwih Men Time on 20 Ferury next ensuing; mens ny person, inluding the Mster nd pprenties, employed under the terms of rew greement or other ontrt of servie or employment to serve on ord n Entered Ship; mens ny ship, ot, hydrofoil, hoverrft or other desription of vessel (inluding lighter, rge or similr vessel howsoever propelled ut exluding () unit or vessel onstruted or dpted for the purpose of rrying out drilling opertions in onnetion with oil or gs explortion or prodution nd () fixed pltform or fixed rig) used or intended to e used for ny purpose whtsoever in nvigtion or otherwise on, under, over or in wter or ny prt of suh ship, ot, hydrofoil, hoverrft or other desription of vessel or ny proportion of the tonnge thereof or ny shre therein, inluding ny ship, ot, hydrofoil, hoverrft or other desription of vessel under onstrution; inludes ny diretion, oligtion or llity imposed y entment, deree, order or regultion hving the fore of lw; mens reltive of Semn or ny other person whom Memer hs greed to mintin or rry on ord n Entered Ship (exept pssenger) nd inluding persons (other thn Semen) engged under rtiles of greement; mens the gross tonnge of ship s ertified or stted in the Certifite of Registry or other offl doument relting to the registry of the ship; nd Ton refers to the unit of suh tonnge; mens ny opertion in onnetion with the holding, pushing, pulling, moving, esorting, guiding of, or stnding y, ship or ojet. 3 Sope of Cover i The terms upon whih Memer is entered in the Clu re set out in the Cluses nd ny Certifite of Entry for tht Memer. i iv v The risks ginst whih Memer my e insured y entry in the Clu re set out in Cluses nd re lwys sujet to the onditions, exeptions, limittions nd other terms set out in the reminder of these Cluses nd ny Certifite of Entry for tht Memer. The over set out in these Cluses my e exluded, limited, modified or otherwise ltered y ny speil terms whih hve een greed in writing etween Memer nd the Mngers. A Memer my e insured ginst risks other thn those set out in Cluses or in respet of llities rising in pity other thn s Chrterer where suh speil terms hve een greed in writing etween the Memer nd the Mngers. Unless otherwise expressly greed suh speil insurne shll e sujet to the onditions, exeptions, limittions nd other terms set out in the reminder of these Cluses. A Memer is only insured ginst loss, dmge, llity or expense inurred y it whih rise: out of events ourring during the period of entry of Ship in the Clu; nd in respet of the Memer s interest in the Entered Ship; nd 2

5 in onnetion with the employment of the Ship y or on ehlf of the Memer; nd otherwise only s provided pursunt to Cluse 21 xi d in respet of rgo llities when Memer is entered for suh over; Provided lso tht the Mngers my gree, on suh terms s they require, to over llities inurred y the Memer in respet of rgo rising out of events ourring prior to shipment on ord or fter dishrge from the entered vessel, when suh llity is inurred onsequent upon the Memer s performne of relevnt ontrt of rrige; nd ours: () () () during periods etween reeipt of rgo nd shipment nd/or fter dishrge of rgo where suh periods do not exeed ten dys or suh other period s my e greed y the Mngers in writing; nd within the port of shipment or delivery; nd there is no other ontrt etween the Memer nd ny other prty relting to the storge nd/or ustody of the rgo during tht period; or in respet of lim under Cluse 21 xi. 4 Prt Entries nd Open Covers vi i A Memer who hs entered Ship in the Clu for insurne ginst ny of the foresid risks shll py premium to the Clu in ordne with Cluse 10. The Mngers my: Aept entries of vessels y Chrterers, inluding Chrterers of prt of ship or its pssenger or rgo rrying pity; Agree open overs wherey the Memer my delre entries of hrtered vessels from time to time during the period of suh over, ut sujet lwys to the Mngers right to deline the entry of vessel so delred in their solute disretion; on suh terms nd onditions s the Mngers my determine, inluding over for ny risks exluded under these Cluses. 5 Diretors i The usiness of the Clu shll e mnged y the Bord of Diretors. i iv The Diretors my delegte ny of their powers to su ommittees onsisting of suh Memer or Memers of their ody s they think fit. Any su ommittee so formed shll in the exerise of ny power so delegted onform to ny regultions tht my from time to time e imposed upon it y the Diretors The Diretors, or sujet to ny regultions imposed upon it s foresid, ny su ommittee, my from time to time vest in the Mngers suh of the powers vested in the Diretors or delegted to suh su ommittees s the se my e, s the Diretors or suh su ommittee shll think fit, nd suh powers my e exerisle for suh period nd upon suh onditions nd sujet to suh restritions nd generlly upon suh terms s the Diretors or suh su ommittee, s the se my e, my determine. Whenever ny power is delegted to or vested in the Mngers y virtue of or pursunt to these Cluses, suh power my, sujet to ny terms, onditions or restritions ontined in these Cluses, e exerised y ny servnt or gent of the Mngers or their London representtives to whom the sme shll hve een delegted or su delegted. 3

6 6 Entry i A Chrterer who wishes to enter ny Ship for insurne in the Clu shll pply for suh entry in suh form nd in suh mnner s the Mngers my from time to time require. A Chrterer who so pplies for insurne or negotites ny hnges to or renewl thereof shll mke to the Clu fir presenttion of the risk in ompline with Prt 2 of the English Insurne At 2015 inluding dislosure: i iv v of every mteril irumstne whih the Owner knows or ought to know; or providing suffent informtion to ple the Clu on notie of the need to mke further enquiry for the purposes of reveling those irumstnes; nd in whih every mteril representtion s to mtter of ft is sustntilly orret, nd every representtion s to mtter of expettion or elief is mde in good fith; sve tht Setion 8 of the At shll hve no pplition nd Cluse 6 v shll pply irrespetive of whether ny reh of the duty of fir presenttion is innoent, delierte or rekless. Before ny pplition for entry is epted, the Mngers shll gree in writing the terms nd onditions tht re to pply to the entry, inluding those onerning premiums, dte of ommenement nd sope of over nd the other terms nd onditions on whih the ship is to e epted. The provisions of this Cluse pply throughout the period of entry of the Ship in the Clu nd the Memer shll immeditely dislose to the Clu ny mteril hnge in ny mteril prtiulrs nd informtion or ny mteril ltertion in the risk relting to suh entry. If the Mngers determine tht the nture of the risk hs mterilly hnged sine the ship ws entered; or If the Memer fils to omply with the oligtions under su prgrphs or iv of this Cluse, the Mngers shll e entitled, without prejudie to ny other right or remedy of the Clu, in their solute disretion y notie in writing to: terminte the entry of suh ship or Memer from the ommenement of the Poliy Yer or suh lter dte s they my deide, or mend or vry the terms of suh entry s they think fit. vi v The Mngers shll e t lierty, without giving ny reson, to refuse ny pplition for entry of ship in the Clu from ny Chrterer whether or not tht Chrterer is lredy Memer of the Clu. A notie or other doument required to e served on Memer under these Cluses or the Memorndum nd Artiles of Assoition of the Clu my e served s the Mngers deide, either personlly, or y sending it through the post in pre-pid letter, or y ourier, fsimile, or emil or other eletroni ommunition ddressed to the Memer. The Memer grees tht ny suh ddress shll e tht notified to the Clu y the Memer or its servnts or gents ppering in the reords of the Clu. A notie or doument direted to e served on the Memer shll, with respet to ny Joint Memers, ffilites nd ny others insured to ny extent under the Memer s entry, e given to whih of suh persons is nmed first in the Register of Memers nd notie or doument so given shll e suffent servie upon ll suh Joint Memers, ffilites nd ny others insured under the Memer s entry. 7 Certifite of Entry i As soon s resonly prtile fter the eptne of n pplition for entry of Ship for insurne in the Clu, the Mngers shll issue to the Memer in respet of suh Ship Certifite of Entry or, in the se of open overs, endorse the nme of the entered vessel on the Certifite of Entry in suh form s they my from time to time determine whih my inlude, mong other things 4

7 i iv d e the nmes of the Memers on whose ehlf the Ship hs een entered nd their interest in tht Ship; the dte of the ommenement of the period of insurne; nd the terms nd onditions, inluding ny limittions to over, on whih the ship hs een epted for insurne. If t ny time there shll e vrition in the terms of entry relting to n Entered Ship, the Mngers shll, s soon s resonly prtile therefter, issue to the Memer in respet of suh Ship n endorsement slip, in suh form s they my from time to time determine, stting the terms of suh vrition nd the dte from whih suh vrition is to e effetive. Every Certifite of Entry nd every endorsement slip issued s foresid shll e onlusive evidene nd inding for ll purposes s to the ommenement of the period of insurne, s to the terms nd onditions on whih the ship hs een entered for insurne, nd s to the terms of ny vrition nd the dte from whih suh vrition is to e effetive; provided tht in the event tht ny Certifite of Entry or ny endorsement slip shll in the opinion of the Mngers ontin ny error or omission, the Mngers my in their disretion issue new Certifite of Entry or new endorsement slip whih shll e onlusive evidene nd inding s foresid. To the extent tht these Cluses nd ny Certifite of Entry or other poliy doument issued hereunder re sujet to the English Insurne At 2015 from its entry into fore, the following Setions of the At shll e exluded nd hve no pplition sve to the extent provided in the se of Setion 13A with the effets s set out in su-prgrphs -e elow: Exluded Provisions Effet Setion 10 - All wrrnties must e stritly omplied with nd in the event of reh, the Clu s llity is dishrged from suh dte irrespetive of whether suh reh is susequently remedied. Setion 11 - The Clu shll e entitled to exerise ny rights provided in these Cluses rising in onsequene of the Memer s non-ompline with the pplile terms of entry nd the Chrterers Cluses tending to redue the risk of loss of prtiulr kind, or t prtiulr lotion or time. The Clu shll e so entitled notwithstnding tht suh nonompline ould not hve inresed the risk for the loss whih tully ourred in the irumstnes in whih it ourred. Setion 13 - In the event tht frudulent lim is mde y ny prty insured hereunder the Clu shll e entitled to terminte the poliy in respet of ll prties insured pursunt to tht entry or ny of them s the Mngers so deide in their solute disretion. Setion 13A - No lim shll e rought ginst the Clu for reh of the implied term tht the Clu will py to the Memer ny sums due in respet of lim within resonle time sve where or to the extent tht ny reh is delierte or rekless. Setion 14 - The ontrt evidened y these Cluses nd the Certifite of Entry requires the Memer nd the Clu to oserve the duty of utmost good fith nd non-oservne y one prty shll entitle the other to void the poliy. 8 Memers i Every Chrterer who enters ny ship in the Clu shll (if not lredy Memer) e nd eome Memer of the Clu s from the dte of the ommenement of suh entry. Eh Memer is ound y these Cluses. i iv Every Memer of the Bord of Diretors, whilst holding offie s suh, shll ex offo e Memer of the Clu. Whenever the Clu grees to ept the entry of ship y wy of reinsurne of ny insurer, the insurer reinsured y the Clu shll e nd eome Memer of the Clu provided tht, unless otherwise greed y the Clu, it shll not e entitled to ttend ny Generl Meeting of the Clu, Annul or Speil, or vote on ny resolutions t ny suh Meeting. All ontrts of insurne with the Clu shll e deemed to e sujet to nd inorporte ll the provisions of these Cluses exept to the extent otherwise expressly greed in writing 5

8 with the Mngers. 9 Joint Memers nd Assureds v vi i d Eh Memer or other person whose pplition for insurne or reinsurne is epted shll e deemed to hve greed oth for itself nd its suessors nd eh of them tht oth it nd they nd eh nd ll of them will e sujet to nd ound y nd will perform their oligtions under the Cluses nd ny ontrt of insurne with the Clu. Memership shll not e trnsferle or trnsmissile. If n entry is mde in the nmes of or on ehlf of more persons thn one (hereinfter referred to s Joint Memers) eh Joint Memer shll e ound y these Cluses inluding, without limittion, the provisions of Cluse 8, nd shll e jointly nd severlly lile to py ll lls, ontriutions, premium nd ny other sums, due to the Clu in respet of suh entry; nd the reeipt y ny one Joint Memer of ny sums pyle y the Clu in respet of suh entry shll e suffent dishrge of the Clu for the sme. The over fforded to Joint Memers shll extend only to risks, llities, osts nd expenses rising out of opertions nd/or tivities ustomrily rried on y or t the risk nd responslity of Chrterers nd whih re within the sope of the over provided under the terms, onditions nd exeptions provided y these Cluses nd y the Certifite of Entry. The ondut of ny one Joint Memer whih is suffent to r tht Joint Memer s right of reovery under the terms, onditions nd exeptions provided y these Cluses nd y the Certifite of Entry shll r solutely the rights of reovery of ll Joint Memers thereunder. If the entry of ny Joint Memer eses or is terminted for ny reson, the Mngers shll hve the option, ut not the oligtion, to terminte the entry of ny nd ll other Joint Memers s from the dte of esstion of the entry of the Memer foresid, or from ny other dte whih the Mngers my in their solute disretion deide. Affilites Should lim in respet whereof Memer is insured y the Clu under these Cluses nd y the Certifite of Entry e mde or enfored through n ssoited or ffilited person (other thn Joint Memer or Assured in reltion to the Memer), nd exluding ny hrterer, (exept reot or demise) of the Entered Ship, the Clu shll, if so requested y the Memer in writing, indemnify suh ssoited or ffilited person ginst ny loss whih s onsequene thereof suh person shll hve inurred in tht pity; provided tht: d suh right of indemnity shll only extend to llity whih would hve een inurred y the Memer if the lim onerning tht llity hd een mde ginst the Memer; suh right of indemnity shll not extend to ny mount whih would not hve een reoverle from the Clu y the Memer hd suh lim een mde or enfored ginst tht Memer; to the extent tht the Clu indemnifies suh ssoited or ffilited persons hereunder it shll not e under ny further llity nd shll not mke ny further pyment to ny person whtsoever, inluding the sid Memer, in respet of the lim so indemnified; the ondut of Memer or ny ssoited or ffilited person whih is suffent to r tht person s rights of reovery under the terms, onditions nd exeptions provided y these Cluses nd y the Certifite of Entry shll r the rights of reovery of ll persons thereunder. Assureds i Unless otherwise greed in writing y the Mngers, ny prty whtsoever nd howsoever insured y the Clu shll e ound y ll the terms, onditions nd exeptions provided y these Cluses nd y the Certifite of Entry evidening suh insurne. Clims etween Joint Assureds iv There shll e no reovery out of the funds of the Clu in respet of ny llity, osts or expenses rising out of ny lim, dispute or differene etween Joint Memers, ffilites nd/or ny others insured to ny extent under one entry. Fleet Entries v Where more thn one Ship is entered y one or more Memers nd the Mngers gree in writing tht those ships will e treted s single fleet for underwriting purposes, those Memers, if more thn one, shll e jointly nd severlly lile for ll nd ny oligtions rising under these Cluses s to pyment of ll lls, ontriutions, premium nd ny other sums due to the Clu, nd for the purposes of the sme shll e deemed to e single 6

9 Memer nd the Entered Ships deemed to e entered on tht single Memer s ehlf. 10 Clultion nd pyment of premium i. The Mngers shll in their solute disretion e entitled to fix the mount of premium nd the terms on whih it is to e pid. Unless otherwise greed, the whole of the greed premium shll fll due on the dte on whih the entry inepts or, in the se of open overs, for eh vessel on the dte on whih it is delred, notwithstnding ny greement wherey the Clu grees to pyment on deferred terms.. Where the Mngers hve greed n open over pursunt to Cluse 4 : () The Memer shll promptly sumit delrtion of eh hrtered vessel prior to tht vessel eing delivered into hrter, or t suh other time s my e greed y the Mngers; () The Memer shll in ddition within 12 months from the end of the poliy period, or suh other period s my e greed, mke finl delrtion of ll vessels required to e delred under its open over during the poliy period, inluding ll informtion tht it is greed shll e provided to the Mngers in respet of tht open over; () The Memer wrrnts the ury of the delrtions nd informtion so provided; (d) If y reson of the delrtions or the informtion provided or the disovery of inury in those delrtions or informtion the Mngers re of the opinion tht the premium should e djusted they shll e entitled to hrge suh dditionl premium s they my determine in their solute disretion is pproprite; (e) Any suh dditionl premium shll e pid within 30 dys of the Memer eing dvised of suh djustment; (f) The Mngers shll e entitled to mke djustments t ny time from the ineption of the poliy period until the expiry of 12 months from reeipt of the Memer s finl delrtion in ordne with Cluse 10 () nd on eh osion tht the requirements of Cluse 10 (d) re stisfied. i Pyment of ll premium due shll e ondition preedent to the Clu s llity to indemnify the Memer. 11 Period of Cover i The over fforded y the Clu shll egin t the time stted in the Certifite of Entry for the ommenement of over nd ontinue from tht dte, (the Commenement Dte ), in the Poliy Yer to the nniversry of tht dte in the following Poliy Yer ( the Anniversry Dte ) unless it is greed tht the initil period of entry shll expire on the following 20th Ferury in whih event tht dte, or suh other dte s my e greed, shll eome the Anniversry Dte therefter. d Sve where the Clu hs exerised ny right to terminte n entry s otherwise provided in these terms, the over shll ontinue for 12 months from eh Anniversry Dte unless: Notie shll hve een given in writing y either the Memer to the Mngers or the Mngers to the Memer not lter thn two lendr months prior to the Anniversry Dte, tht the insurne speified in the notie is to ese, in either of whih events the insurne shll ese on the Anniversry Dte sve tht in the se of n open over, where vessel is delred prior to tht nniversry dte, the Mngers my, in their solute disretion, gree tht tht over shll ontinue for suh period eyond tht dte s they my determine; or The Mngers shll hve given notie t ny time efore noon GMT on the Anniversry Dte tht the terms of insurne y the Clu for the next poliy yer relting to premium nd/or dedutiles re to e hnged, in whih event, unless terms re greed etween the Memer nd the Mngers efore noon GMT on the Anniversry Dte immeditely following suh notie, the insurne thereupon shll ese the Entered Ship is redelivered y the Memer to the Owner during the ourse of Poliy Yer in whih event over shll ese in respet of tht ship on the dte of redelivery or suh other dte s is greed y the Mngers in writing; or notie shll hve een given y the Mngers in writing to terminte: the entry of ship, inluding ship delred under n open over; or n open over; in whih event over shll ese on the time nd dte speified in the Mngers notie ut not erlier thn seven dys from hours GMT on the dy on whih notie is given. 7

10 i An Entered Ship shll not e withdrwn from the Clu t ny other time or in ny other mnner exept with the onsent of the Mngers. 12 Reserves i The Diretors my in their solute disretion estlish, mintin nd umulte suh reserves, funds or other ounts for suh ontingenies or purposes s they think neessry, expedient or prudent inluding, without prejudie to the generlity of the foregoing, suh funds or ounts neessry to estlish or mintin ny solveny mrgin, gurntee fund or other fund s my e required of the Clu y ny governmentl or other legisltion or regultions. i The Diretors my pply the sums stnding to the redit of ny reserves or ounts for ny purpose whtsoever whih the Diretors onsider to e in the interests of the Clu or its Memers. The Diretors my, on the losing of ny Poliy Yer or t ny time or times therefter resolve tht ny speified mount or proportion of the funds stnding to the redit of tht Poliy Yer shll e pplied for the purposes of ny suh reserve or ount. 13 Reovery If ny Memer shll eome lile in dmges or otherwise or shll inur ny llities, osts or expenses s hereinfter set out in Cluses 21 22, in respet of ship whih ws entered in the Clu t the time of the sulty or event giving rise to suh llities, osts or expenses, suh Memer shll e entitled to reover, out of the funds of the Clu, the mount of suh llities, osts or expenses to the extent nd upon the terms, onditions nd exeptions provided y these Cluses nd y the Certifite of Entry; provided lwys tht: i i iv v vi unless the Diretors otherwise determine, it shll e ondition preedent of Memer s right to reover from the funds of the Clu in respet of ny llities, osts or expenses tht he shll first hve pid the sme out of funds elonging to him solutely nd unonditionlly nd not y wy of lon or otherwise; unless otherwise greed y the Mngers in writing, ny llity osts or expenses inurred y the Clu in respet of n Entered Ship rising from ny one ident or ourrene, inluding ny lim in respet of llity for the removl or non removl of ny wrek, shll e treted for the purposes of these Cluses s if they were one lim; if less thn the full tonnge of ship is entered in the Clu, the Memer shll e entitled only to reover suh proportion of its lim s the entered tonnge ers to the full tonnge; where reovery is pid to Memer, nd/or pid diretly to third prty, in respet of llity in respet of whih the Memer is susequently exonerted whether on ppel or otherwise, or where pyment is mde y the Clu pursunt to ny il, gurntee, ertifite or seurity whtsoever provided y the Clu nd the Memer reovers suh pyment, the Memer shll forthwith reimurse the Clu in respet of: The mount tht the Clu originlly pid; Interest on the mount of tht pyment from the dte of remittne to the dte tht the repyment is reeived y the Clu, ut only to the extent tht suh interest is reoverle y the Memer from the prty to whih llity ws originlly inurred. in no se whtsoever shll interest e pid on sums due from the Clu; the llity of the Clu shll e limited to suh mount s ppers in the Certifite of Entry or, in the sene of ny suh mount, US$10million, in ggregte, in respet of ll llities insured under these Chrterers Cluses (inluding, for the voidne of dout, Cluse 16) rising out of ny one ident or ourrene. Sve tht when the Memer is entitled under Cluse 21 to reover in respet of dmge to, or loss of rgo or other property owned y it, s if suh rgo or property ws owned y third prty, nd when, If tht lim hd een pursued y third prty it would hve een sujet to limittion; nd When the ggregte of ll the lims sujet to limittion, (inluding tht of the Memer s if its property ws owned y third prty), in respet of tht inident or ourrene would hve 8

11 exeeded the mount to whih the Memer would e entitled to limit llity; the Memer s reovery from the Clu in respet of its own lim shll not exeed the mount to whih it would hve een rtely redued hd it een lim sujet to limittion under the limittion fund nd/or in ordne with ny other right to limittion in respet of the inident or ourrene. Provided lwys tht in the event of legisltion oming into fore nywhere in the world ffeting Memer s llity in respet of oil pollution the Clu shll, upon eh nd every suh entment, hve the right to hrge dditionl premium or limit its llity in respet thereto. 14 Speilist Opertions Unless the Mngers otherwise gree in writing s term of entry, the Clu shll not insure ny Memer to ny extent whtsoever, ginst the following risks: Speilist Opertions i llities, osts or expenses inurred y Memer who ontrts to perform speilist opertions, inluding ut not limited to dredging, lsting, pile driving, well stimultion, le or pipe lying, onstrution, instlltion or mintenne work, ore smpling, depositing of spoil, professionl oil spill response or professionl oil spill response trining nd tnk lening (otherwise thn on the Entered Ship) (ut exluding fire fighting); Drilling Opertions llities, osts or expenses inurred in respet of n Entered Ship rrying out drilling explortion or prodution opertions (inluding ny ommodtion unit moored or positioned on site s n integrl prt of suh opertions) nd rising out of or during drilling or prodution opertions; The vessel shll e deemed to e rrying out prodution opertions if (inter li) it is storge tnker or other vessel engged in the storge of oil, nd either; Diving Opertions nd Suse Ativities i the oil is trnsferred diretly from produing well to the storge vessel; or the storge vessel hs oil nd gs seprtion equipment on ord nd gs is eing seprted from oil whilst on ord the storge vessel other thn y nturl venting. llities, osts or expenses rising out of the opertion y the Memer of sumrines, mini sumrines or diving ells or the tivities of professionl or ommeril divers; Slvge Opertions iv llities, osts nd expenses rising out of slvge opertions (inluding for the purpose of this Cluse, wrek removl) onduted y n Entered Ship, other thn where the purpose of suh opertions is sving or ttempting to sve life t se. Wste Disposl Opertions v Llities, osts or expenses inurred y Memer rising out of wste ininertion or disposl opertions rried out y the Entered Ship (other thn ny suh opertions rried out s n inidentl prt of other ommeril tivities, not eing speilist opertions). 15 Nuler nd Bio- Chemil Risks There shll e no reovery from the Clu in respet of Memer s llities, osts or expenses (irrespetive of whether ontriutory use of the sme eing inurred ws ny neglet on the prt of the Memer or on the prt of the Memer s servnts or gents) when the loss or dmge, injury, illness, or deth or other ident in respet of whih suh llity rises or ost or expense is inurred, ws diretly or indiretly used y or rises from: i i iv ionising rditions from, or ontmintion y rdiotivity from, ny nuler fuel or from ny nuler wste or from the omustion of nuler fuel; the rdiotive, toxi, explosive or other hzrdous or ontminting properties of ny nuler instlltion, retor or other nuler ssemly or nuler omponent thereof; ny wepon or devie employing tomi or nuler fission nd/or fusion or other like retion or rdiotive fore or mtter; the rdiotive, toxi, explosive or other hzrdous or ontminting properties of ny rdiotive mtter. Provided lwys tht: the exlusion in this su-cluse does not exlude llities, osts nd expenses rising out of the rrige of exepted mtter (s defined in the Nuler Instlltions At 1965 of the United Kingdom or ny regultions mde thereunder) eing rried s rgo on n entered vessel. 9

12 Note: The Nuler Instlltions Regultions reflet the provisions of the OECD Pris Convention on Crrige of Nuler Mteril. Exepted mtter is nuler mtter onsisting only of one or more of the following: d Isotopes prepred for use for industril, ommeril, griulturl, medil or sientifi purposes; Nturl urnium; Depleted urnium; Smll quntities of nuler mtter s presried. v ny hemil, iologil, io-hemil or eletromgneti wepon. 16 Wr Risks i When the inident in respet of whih Memer s llities, osts nd expenses rise, ws used or ontriuted to (irrespetive of whether ontriuting use ws ny neglet on the prt of the Memer or ny prties for whih the Memer is lile) y: wr, ivil wr, revolution, reellion, insurretion or ivil strife rising therefrom, or ny hostile t y or ginst elligerent power or ny t of terrorism, (In the event of ny dispute s to whether or not ny t onstitutes n t of terrorism, the deision of the Diretors shll e finl); pture, seizure, rrest, restrint or detinment (rrtry or piry exepted) nd the onsequenes thereof or ny ttempt theret; mines, torpedoes, oms, rokets, shells, explosives or other similr wepons of wr, inluding those llities, osts or expenses whih rise solely y reson of: the trnsport of ny suh wepons whether on ord the Entered Ship or not, or the use of ny suh wepons either s result of Government order or through ompline with written diretion given y the Mngers or Diretors where the reson for suh use ws the voidne or mitigtion of llities, osts or expenses whih would otherwise fll within the over of the Clu; the Memer s right of reovery from the Clu under Cluse 21 nd, if entered for Dmge to Hull risks, Cluse 22, in respet of suh llities, osts nd expenses, shll e sujet to the terms nd onditions of Cluse 16, nd in respet of the Dmge to Hull risks Cluses 16 nd i, elow nd reoverle only to the extent therein provided. Cover under this Cluse 16 : My e nelled on seven dys notie, given either y the Mngers or Memer, expiring t hours GMT on the seventh dy, exluding the dy during whih notie is given; Sujet to the greement of the Mngers, in their solute disretion, to reinstte over prior to expiry of suh notie of nelltion on suh revised terms s re greed with the Memer. Shll terminte utomtilly on: The outrek of wr, (irrespetive of whether delred or not) etween ny of the following: The United Kingdom, The United Sttes of Ameri, Frne, The Russin Federtion nd The People s Repuli of Chin: or Requisition of the Entered Ship whether for title or for use. Exludes the following res: In ddition to ny res exluded under the terms of entry, t ny time during the urreny of this insurne, the Mngers my in their solute disretion exlude ny geogrphil lotion s defined y them from over under this su Cluse. 10

13 Where suh exlusion is mde, the Mngers: shll notify the Memers hving insurne under this su Cluse nd s from hours GMT on the seventh dy fter suh notie is given, exluding the dy during whih notie is given, there shll e no over in respet of ny lim onsequent on events ourring t, or within, the exluded lotion, unless the Diretors in their solute disretion so determine; nd my reinstte over in respet of suh exluded re t ny time in their solute disretion. d Exludes the following risks In ddition to the exlusions from over elsewhere under these Cluses, Llities, osts nd expenses onsequent upon: () The outrek of wr (irrespetive of whether delred or not) etween ny of the following: The United Kingdom, The United Sttes of Ameri, Frne, The Russin Federtion, nd The People s Repuli of Chin; () Requisition of the Entered Ship whether for title or for use; loss, dmge, llity or expense diretly or indiretly used or ontriuted to y or rising from the use or opertion, s mens for infliting hrm, of ny omputer, omputer system, omputer softwre progrmme, mlous ode, omputer virus or proess or ny other eletroni system; Provided tht: This exlusion shll not operte to exlude losses (whih would otherwise e overed) rising from the use of ny omputer, omputer system or omputer softwre progrmme or ny other eletroni system in the lunh nd/or guidne system nd/or firing mehnism of ny wepon or missile. e Shll e onditionl upon: the relevnt hrterprty permitting the Owner to refuse orders to send the ship to ny geogrphil lotion tht is dngerous y reson of wr risks; nd no express indemnity hving een given y the Memer to the Owner in respet of suh voyge; f Shll e limited to the following extent nd sujet to the following Limit of Llity The Clu s llity under this Cluse 16 shll e exess of the mount of the dedutile in the Memers Certifite of Entry. As provided in Cluse 13 vi the limit of the Clu s llity under these Chrterers Cluses inluding this Cluse 16 shll e suh sum s is greed y the Mngers in writing nd ppers in the Certifite of Entry, or, in the sene of ny suh mount, US$10million in ggregte per ourrene, inlusive of interest nd osts. Where series of events ours whih re temporlly nd/or geogrphilly proximte, the Diretors my in their solute disretion determine tht suh events nd ny llities, osts nd expenses rising out of them mount to single ourrene for the purposes of this Cluse. Wr Risks Dmge to Hull Exluded Ares i The Memer shll e entitled to over under this Cluse 16 i for llities, osts nd expenses relting to Wr Risks Dmge to Hull inurred whilst the Entered Ship is trding to Joint Wr Committee Hull Wr, Strikes, Terrorism nd Relted Perils Listed Ares provided tht: suh voyges re permissile under the relevnt hrterprty; nd tht no express indemnity hs een given y the Memer in respet of suh voyges. 11

14 17 Equipment nd Freight nd Other Risks The Clu shll not under ny irumstnes, sve only those provided for in the speifi Cluses enumerted hereunder, py for or stisfy ny llity in respet of: i i iv loss of or dmge to n Entered Ship, or her tkle, pprel, lshings, furniture, stores, fittings or equipment or fuel, or for ny proportion thereof, or the Memer s unkers or equipment owned y the Memer or ny ssoited entity or for the ost or hrges of or relting in ny mnner whtsoever to the repir of n Entered Ship, or for slvge, or loss of freight or hire or demurrge on n Entered Ship or ny proportion thereof: or loss onsequent upon detention of n Entered Ship sve tht, to the extent tht the Mngers in their solute disretion determine, the ost of fuel, insurne, rew wges, stores, provisions nd port hrges, less ny svings in expenditure whih would hve een inurred y the Memer hd the lim not ourred, shll e reoverle provided suh loss is inurred in respet of lim otherwise overed under Cluse 21; or loss rising out of the nelltion of hrter or other enggement of n Entered Ship, or for d dets, or for ny loss or llity whtsoever rising out of the insolveny or frud of the Memer or its gents. The speifi Cluses referred to re s follows: In respet of Cluses 17 i i Cluse 22 relting to dmge to hull nd loss of time hrterers unkers; Cluse 16 i relting to Wr Risks dmge to hull; Provided nd only to the extent tht the Memer is entered for Dmge to Hull under Cluse 22 under these Cluses nd sujet to the terms of suh entry; nd In respet of Cluses 17, i Where suh loss is solely onsequent upon the Memer s ompline with diretion of the Mngers; In respet of Cluses 17 i iv Cluse 21 iv relting to life slvge; Cluse 21 xi d proviso (ix) relting to loss of freight or hire, or lims for demurrge, detention nd dely where suh loss or lim forms prt of lim for llities in respet of loss of or dmge to rgo; Cluse 21 xvi relting to onfistion; Cluse 21 xix relting to sue nd lour; Cluse 21 xix relting to expenses inurred y diretion of the Clu. v Rod Trffi Ats There shll e no reovery from the Clu in respet of llities rising under ny sttute regulting the use nd insurne of rod vehiles. vi Lndfills Unless nd to the extent tht the Diretors shll in their solute disretion otherwise determine, there shll e no reovery from the Clu in respet of ny llity, loss, dmge, ost or expense, inluding, without limittion, llity for the ost of remedil works or len up opertions, rising s result of the disposl or dishrge t, presene in, or the espe or dishrge or thret of espe or dishrge from, ny lnd sed dump, site, storge or disposl fility of ny sustne previously rried on the Entered Ship whether s rgo, fuel, stores or wste nd whether t ny time mixed in whole or in prt with ny other sustne whtsoever. 12

15 18 Doule Insurne If Memer is, prt from the protetion or indemnity of the Clu, insured, proteted or indemnified in ny mnner whtsoever ginst ny of the llities, osts or expenses enumerted in Cluses no ontriution shll e mde y the Clu to suh llity, osts or expenses, on the sis of doule insurne or otherwise, to the extent to whih he is so insured or proteted or indemnified. Nevertheless, with the pprovl of the Diretors, Memer my e proteted or indemnified y speil greement with the Clu mde either diretly with himself or with other Insurers upon the terms tht ertin llities, osts or expenses shll e orne y the Clu notwithstnding suh other insurne, protetion or indemnity. 19 Imprudent or Unlwful Trding Bries nd other Corrupt Ativity i d No lim shll e reoverle from the Clu if it rises out of or is onsequent upon n Entered Ship or ship in respet of whih insurne is provided y the Clu: rrying ontrnd, unless, for the purpose of this su Cluse only, the Memer hs stisfied the Mngers tht it took suh steps s pper to the Mngers to e resonle to void the rrige of suh ontrnd; or lokde running or eing employed in n unlwful trde; or eing employed y the Memer in rrige, trde or on voyge whih therey in ny wy howsoever exposes the Clu to the risk of eing or eoming sujet to ny sntion, prohtion or dverse tion in ny form whtsoever y ny Stte or Interntionl Orgnistion, unless the Diretors otherwise determine, or performing ny voyge or eing employed in ny trde whih in the opinion of the Diretors is imprudent, unsfe, unduly hzrdous or improper. There shll e no reovery from the Clu in respet of sums, or the monetry equivlent of ny other improper induement or dvntge, whih re determined y the Diretors in their solute disretion to hve een offered or pid y wy of rie or y ny other orrupt or illt tivity. Eletroni Trding Systems i There shll e no reovery from the Clu in respet of ny llities, losses, osts nd expenses rising from the use of ny eletroni trding system, other thn n eletroni trding system pproved in writing y the Mngers, to the extent tht suh llities, losses, osts nd expenses would not (sve insofr s the Diretors in their solute disretion otherwise determine) hve risen under pper trding system. For the purposes of this Cluse 19 i An eletroni trding system is ny system whih reples or is intended to reple pper douments used for the sle of goods nd/or their rrige y se or prtly y se nd other mens of trnsport nd whih: () () () re douments of title, or entitle the holder to delivery or possession of the goods referred to in suh douments, or evidene ontrt of rrige under whih the rights nd oligtions of either of the ontrting prties my e trnsferred to third prty; nd A doument shll men nything in whih informtion of ny desription is reorded, inluding, ut not limited to, omputer or other eletronilly generted informtion. 20 Premle i The llities, osts nd expenses ginst whih Memer my e proteted nd indemnified y entry in the Clu re limited to those set out in Cluses 21 i xxi nd 22 inlusive nd s re greed in the Certifite of Entry sujet lwys to: The terms therein provided, nd The terms of this Cluse nd of ll other Cluses of Chrterers Protetion nd Indemnity insurne. In ddition to the risks overed, the Memer shll lso e entitled to protetion nd indemnity in respet of its llity s Chrterer to indemnify the Owner of, or ny prty to whom the Memer hs su hrtered, the Entered Ship in respet of suh risks; 13

16 Provided lwys, unless otherwise greed y the Mngers in writing, tht the terms of the hrter or ny indemnities given or other llities ssumed thereunder: do not impose on the Memer llity, howsoever rising, onsequent upon ny ts or omissions, negligene or reh of duty of the Owner, or su hrterer, or ny other prties for whih the Memer would not e lile ut for the terms of the hrter or indemnity; nd/or do not wive or otherwise limit in ny mnner whtsoever the right to exlude or limit llity nd/or ny rights of reourse ginst ny prty otherwise ville to the Memer; sve to the extent ustomrily provided under stndrd forms of hrter without mteril mendments; nd where suh llities, osts nd expenses result from n inident used or ontriuted to y ny of the irumstnes set out in Cluse 16 i, reovery shll e only on the terms nd to the extent provided in Cluses 16, nd i. Note: Stndrd forms of hrter for the purposes of Cluse 20 onsist of: d e f those hrterprty forms urrently listed in the Forms of Approved Douments issued y the Blti nd Interntionl Mritime Counil Doumentry Committee (BIMCO); the New York Produe Exhnge Form, NYPE 93 nd ASBATIME whether inorporting the NYPE InterClu Agreement, or not; Tnker Voyge nd Timehrters issued y B P, ExxonMoil, Shell, Texo, Vel; ASBATANKVOY, ASBA II, STBVOY, STBTIME; Vegoilvoy, Intertnkvoy, Afrinphos, Ausr, Ausgrin, Bltimore Berth Grin, Euromed, Stemmor, Sugr Chrterprty, C(Ore)7 Mediterrnen Iron Ore; nd Suh other forms s the Mngers my in their solute disretion from time to time pprove. 21 P&I Risks Where over is exluded under the Memer s terms of entry, in respet of ny su Cluse of this Cluse 21, there shll e no reovery of osts, llities nd expenses onsequentil upon suh exluded risk under ny other su Cluse of this Cluse 21; Llity to Persons Covered Risks Dmges or Compenstion for Loss of Life or Personl Injury or Illness Medil nd Funerl Expenses i The Clu shll not insure under this Cluse 21 ny Memer to ny extent whtsoever ginst llities, osts nd expenses ginst whih the Memer would e insured if entered under Cluse 22, without dedutile, irrespetive of whether the ship is entered for Dmge to Hull or Time Chrterers Bunkers over. Llities, osts nd expenses s set out in Cluse 21 nd in respet of the tegories of persons set out in Cluse 21 i: rising y opertion of lw; or rising under ny ontrt inluding ny olletive greement pproved in writing y the Mngers prior to the event giving rise to the lim, nd upon suh terms s the Mngers my require. Llity for dmges or ompenstion in respet of personl injury, illness or deth; Hospitl, medil nd/or funerl expenses, inluding reptrition of remins, in reltion to injury, illness or deth of ny person, or ny Semn whilst engged s rew of, or rising out of employment on ord, n Entered Ship, provided resonly inurred; Reptrition Reptrition expenses in respet of persons on ord n Entered Ship in onsequene of sulty thereto or onsequent on illness or injury to suh persons, or in ny other se where the Mngers in their disretion determine tht suh expenses hve een neessrily nd resonly inurred; 14

17 Crew Sustitutes d Expenses neessrily inurred in sending rod sustitutes, or in seuring, engging, reptriting or deporting sustitute engged rod, to reple ny Semn on ord n Entered Ship who shll hve died, or who shll hve een disemrked due to injury, illness, or deserted, or in ny other se in whih the Mngers determine tht suh expenses were resonly inurred, sve tht wges shll only e reoverle s prt of suh expenses when pyle to sustitutes, engged rod, whilst witing nd during reptrition; Shipwrek Unemployment Indemnity e Wges or other ompenstion for loss of employment pyle to Semen in onsequene of the loss or onstrutive totl loss of n Entered Ship; provided lwys tht: in respet of prgrphs, d nd e of Cluse 21 no suh expenses shll e reoverle y or reimursle to the Memer in onsequene of the termintion of ny greement whether in ordne with its terms, y mutul onsent or y the Memer s reh, or y dismissl, or the sle of the Entered Ship or y reson of industril tion, or ny other voluntry t of the Memer giving rise to suh expenses or where suh expenses ould resonly hve een voided. Compenstion following Csulty f Dmges or ompenstion for whih Memer my e lile under ontrt for rrige to pssengers on ord n Entered Ship in onsequene of sulty to tht Entered Ship while they re on ord, sulty mening n inident involving either: () () ollision, strnding, explosion, fire or ny other use ffeting the physil ondition of the Entered Ship so s to render it inple of sfe nvigtion to its intended destintion; or thret to the life, helth or sfety of pssengers. Provided tht ny lim on the Clu under this prgrph f shll e redued y the mount of ny svings ruing to the Memer s result of the sulty. Dmges or ompenstion pyle in respet of pssengers under this prgrph f or ny other prgrph pplile to pssengers under Cluse 21 shll inlude Memer s llity for the ost of forwrding them to destintion, returning them to port of emrktion, nd their mintenne shore. Devition Expenses g Port nd devition expenses when solely inurred: (i) (iv) (v) For the purpose of lnding or disposing of stowwys, refugees or other persons resued t se; or In order to seure the neessry tretment for n injured or sik person eing rried on n Entered Ship; or While witing sustitute for deesed, injured or sik rew memer or deserter; or In ttempting to sve or sving life t se; or In order to serh for, nd/or reover, persons missing from the ship; Provided tht suh expenses hve in the opinion of the Mngers een resonly inurred. Loss of Bggge nd Effets h The expenses reoverle re limited to those dditionl osts of fuel, insurne, rew wges, stores, provisions nd port hrges, over nd ove the ordinry operting osts of the Memer, whih re inurred s diret result of the devition, less ny svings in expenditure whih would hve een inurred y the Memer ut for the devition. Loss of or dmge to ggge nd effets sve for speie, ullion, preious or rre metls or stone, plte or other ojets of rre nd preious nture, nk notes or other forms of urreny, onds or other negotile instruments, whether the vlue is delred or not, unless in ny suh se the Mngers hve een notified prior to ny suh rrige, nd ny diretions mde y them omplied with, provided tht in respet of rew, over hereunder is limited to their effets s defined in Cluse 2. 15

18 Expenses in Respet of Deserters nd Stowwys i Reptrition expenses in respet of rew memers posted s deserters, stowwys, refugees nd persons resued t se. Provided lwys tht suh expenses hve in the opinion of the Mngers een resonly inurred; the Diretors my gree in their disretion to over ny other expenses nd osts inurred y the Memer in respet of suh persons. Exlusion of Pollution Llities j Without prejudie to ny other provision, onlusion, limittion or ondition set out in these Cluses, over under Cluses 21 i i or ny other Cluse is sujet to Cluse 17 vi. Ctegories of Persons i Those persons in the tegories () (e) elow, ut lwys exluding Personnel (other thn mrine rew) on ord the Entered Ship (eing n ommodtion ship), employed otherwise thn y the Memer under ontrt with third prty whih hs een pproved y the Mngers; Hotel nd resturnt guests nd other visitors nd tering rew of the Entered Ship when the ship is moored (otherwise thn on temporry sis) nd is open to the puli s hotel, resturnt, r or other ple of entertinment. Crew Semen, inluding ny replement or sustitute. Covered Risks: The following risks s set out in Cluse 21 re overed in respet of these persons: d e g h dmges or ompenstion for loss of life or personl injury or illness medil or funerl expenses reptrition rew sustitutes shipwrek unemployment indemnity devition expenses loss of ggge nd effets Supernumerries Supernumerries nd persons eing rried other thn pursunt to ontrt for rrige. Covered Risks: The following risks s set out in Cluse 21 re overed in respet of these persons g h dmges or ompenstion for loss of life or personl injury or illness medil or funerl expenses reptrition devition expenses loss of ggge nd effets Pssengers Pssengers Note: It is reommended tht whenever prtile n indemnity is tken from persons eing rried other thn pursunt to ontrt for rrige. The Mngers will provide form of indemnity on request nd my lso rrnge seprte insurne to over suh persons risks nd llities Covered Risks: The following risks s set out in Cluse 21 re overed in respet of these persons 16