Binding of Risks Sample Clauses
The "Binding of Risks" clause establishes the point at which the responsibility for loss or damage to goods transfers from the seller to the buyer. Typically, this clause specifies that risk passes at a certain stage in the transaction, such as upon delivery, shipment, or acceptance of goods, and may outline exceptions or special conditions. Its core practical function is to clearly allocate risk between parties, preventing disputes over liability if goods are lost or damaged during transit or storage.
Binding of Risks. To bind and report all risks in accordance with this Agreement, and any other underwriting and pricing standards established by Company in writing and provided to Manager. Manager is to forward all other risks to Company, for review.
Binding of Risks. For the line(s) of business specified in Exhibit A, you will only bind risks in accordance with the underwriting rules, regulations and directives we provide to you.
Binding of Risks. To bind risks only in accordance with the terms of Exhibit A and any other underwriting and pricing standards from time to time established by the Insurer in writing and provided to the MGA, to report all risks bound in accordance with the terms of Exhibit A, and to forward to the Insurer for acceptance all other risks.
Binding of Risks. To bind risks only in accordance with Exhibit A and any other underwriting and pricing standards from time to time established by the Company in writing, and to forward to the Company for acceptance all other risks.