Limitations clause Clause Samples
Limitations clause. The company’s liability under this sub-section is restricted in respect of documents, manuscripts, business books, plans, designs, patterns, models and moulds to the value of materials and sums expended in labour. If the property covered is, at the commencement of any loss or damage to such property by any peril covered against, collectively of greater value than the sum covered thereon, the participant shall be considered as being their own company for the difference and shall bear a rateable share of the loss or damage accordingly. Each item of the table of benefits covering such property shall be separately subject to this condition. Loss of rent actually incurred by the participant in consequence of the office premises or portion thereof being so damaged by any of the perils specified in sub-section A as to be rendered uninhabitable, but only in respect of the period necessary for reinstatement. The indemnity under this sub-section shall not exceed 25 percent of the sum covered or value (whichever is the lower) of all contents of the office premises affected. For the purpose of this sub-section, the term “office premises” shall be deemed to extend to any premises or portion thereof in the vicinity of the office premises, damage to which prevents or limits access to the office premises. Loss of or damage to documents normally kept at the office premises by any peril not specifically excluded. The term documents shall mean films, tapes, addressograph plates, books, records, maps, plans, drawings, abstracts, deeds, wills, mortgages, agreements, manuscripts, letters, certificates, documents and similar written, printed or otherwise inscribed papers and documents used by the participant in the business and owned by them or for which they are responsible excluding money, current postage or revenue stamps, cancelled and uncancelled coupons, securities, bearer bonds, cheques, drafts and any written order to pay a sum certain in money and any written evidence of indebtedness or obligation and all property carried or held as samples or for sale or for delivery after sale and computer software and computer data carrying media unless otherwise stated in the statement of cover. The company’s liability under this sub-section is limited to all costs, charges and expenses incurred by the participant in replacing or restoring such documents. This sub-section does not cover
Limitations clause. The Company’s liability is restricted in respect of a. money and stamps to a limit of R5,000;
Limitations clause. The Company’s liability under this Sub-Section is restricted in respect of documents, manuscripts, business books, plans, designs, patterns, models and moulds to the value of materials and sums expended in labour. Average (not applicable to peril 6 or 7 above) If the total value of the property covered is at the time of the happening of any loss or damage by any peril covered against, collectively of greater value than the sum covered thereon, the participant shall be considered as being their own company for the difference and shall bear a rateable share of the loss or damage. Each item of the statement of cover covering such property shall be separately subject to this condition. Loss of or damage to documents normally kept at the office premises by any peril not specifically excluded. The term documents shall mean films, tapes, addressograph plates, books, records, maps, plans, drawings, abstracts, deeds, wills, mortgages, agreements, manuscripts, letters, certificates, documents and similar written, printed or otherwise inscribed papers and documents used by the participant in the business and owned by them or for which they are responsible excluding money, current postage or revenue stamps, cancelled and non cancelled coupons, securities, bearer bonds, cheques, drafts and any written order to pay a sum certain in money and any written evidence of indebtedness or obligation and all property carried or held as samples or for sale or for delivery after sale and computer software and computer data carrying media unless otherwise stated in the statement of cover. The Company’s liability under this Sub-Section is limited to all costs, charges and expenses incurred by the participant in replacing or restoring such documents. This Sub-Section does not cover