Common use of Craft Clause in Contracts

Craft. The scope of this Guarantee does not extend to any Craft: • whose Components have been customised or modified in any way from the manufacturer’s specification, or • which is owned temporarily or otherwise (resulting from trade-in or acquisition for the purposes of resale) by a business formed for the purposes of selling or servicing craft, or used for competition, trial or racing, or • which is used for Charter for a period exceeding 6 weeks in any one calendar year.

Appears in 1 contract

Sources: Marine Guarantee Agreement

Craft. The scope of this Guarantee does not extend to any Craft: whose Components have been customised or modified in any way from the manufacturer’s specification, or which is owned temporarily or otherwise (resulting from trade-in or acquisition for the purposes of resale) by a business formed for the purposes of selling or servicing craft, or used for competition, trial or racing, or which is used for Charter for a period exceeding 6 weeks in any one calendar year.

Appears in 1 contract

Sources: Marine Guarantee