Airfreight replacement Clause Samples

Airfreight replacement. In the event of Damage covered under this policy We will pay reasonable costs incurred by You in airfreighting: A) the Subject-Matter Insured and/or replacement parts for repair purposes and/or B) the repaired or replacement Subject-Matter Insured or parts to the original destination. Subject to a Sub-Limit of £20,000. 2 Arrested and/or detained vessels You are covered for any extra charges properly and reasonably incurred in unloading, storing and forwarding the Subject- Matter Insured to the original destination following its release from any vessel arrested or detained at or diverted to any other port or place during any Insured Transit where the voyage was terminated because: A) the vessel was not certified in accordance with the ISM Code or B) a current document of compliance for the purposes of the ISM Code was not held by the vessels owners or operators as required under the International Convention for the Safety of Life at Sea (SOLAS)1974 and as amended. 1) The Sub-Limit for this extension is the value of the Subject- Matter Insured or the Sub-Limit per vessel whichever is the least.

Airfreight replacement. Waiver of subrogation You must not grant any waiver of recourse to any third party without Our prior agreement. General Exclusions The following exclusions are in addition to those stated in the Institute Cargo Clauses applying to this policy. You are not covered for any claim: for Hi-tech Equipment other than provided for in the Optional Extension - Exhibitions. for microchips, microprocessors, central processing units, memory modules, motherboards, expansion boards and/or hi-tech components of a similar nature designed to be used in, or in connection with computer and/or Hi-tech Equipment but not when fitted in such a device.