Risk Transfer Sample Clauses
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Risk Transfer. Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer when they are received by Us. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You.
Risk Transfer. Risk of loss for all Products stored at Inventory shall pass from ▇▇▇ to IQE plc on the date of delivery of the Products to Inventory. IQE plc shall be responsible for insuring the Products in Inventory against all risk of loss or damage. IQE plc shall bear the cost of such insurance covering, without limitation, fire, theft and other loss of Products. IQE plc shall submit policies and riders to ▇▇▇ together with proof of payment of premiums and, at ▇▇▇’▇ request, shall cause ▇▇▇ to be named as an additional insured under such policies as its interests may appear, with waiver of recourse as appropriate.
Risk Transfer. The Agent shall act as the Cover Holder’s agent for the purposes of receiving premiums and refunds (including premiums received for renewals and mid- term adjustments) from clients and the Cover Holder will bear the credit risk for all such monies received by the Agent on the Cover Holder’s behalf subject to 8.5 above, i.e. Risk Transfer applies.
Risk Transfer. Risk transfer applies where money is held by Aston Lark Limited as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums Aston Lark Limited receive from You are treated as having been received by the insurer when they are received by Aston Lark Limited. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You.
Risk Transfer. We act as agents for insurers for the collection and refunding of premiums. This means that premiums are treated as being received by insurers when received in our bank account. Premium refunds are treated as received by you when actually paid over to you. There are occasions where such transactions are restricted we will tell you if this is the case.
Risk Transfer. The Underwriting Agent is granted Risk Transfer on the majority of business. The Underwriting Agent is able to cascade Risk Transfer to the Sub Agent in respect of premiums and return premiums on the majority of business. In some instances, Risk Transfer will only apply when we advise the Sub Agent following receipt of the premium. The Underwriting Agent will confirm the Risk Transfer position as standard procedure when offering and confirming terms, please refer to the terms and conditions of each individual quotation issued. The Underwriting Agent does have alternative options where Risk Transfer is not in place; i.e. it will inform the Sub Agent when the money has been paid and cleared our account. Alternatively, and to prevent the Sub Agent having to track the monies under CASS rules, the Underwriting Agent may be able to set up a low cost Direct Debit facility for the client if the Insurer provides this service. Alternatively we could place these risks on our own in house instalment facilities which would negate the need for the Sub Agent to classify funds as client money. Should either of these options not be acceptable in the event Risk Transfer is not granted then please contact the Underwriting Agent to seek obtaining special consideration with our providers. The Sub Agent shall ensure that any policy fees or administration charges (or equivalent) payable by the client in excess of the premium, levied by Insurers, the Underwriting Agent or the Sub Agent shall be disclosed to the client prior to binding Insurance and each fee be shown on all documentation separately from the premium and not breach any local laws or regulations.
Risk Transfer. Strengthening of the Borrower’s capacity to define strategies that improve and optimize the financial coverage of risks, through the provision of technical assistance and preparation of studies to assist Project Implementing Agencies in the evaluation of risk exposure and the formulation and implementation of cost-effective risk transfer arrangements.
Risk Transfer. The Immovable Property shall be at the Other Party's risk as from the time of signing of the Instrument to be specified in that Instrument. The Immovable Property shall be the responsibility of the Other Party as from the Transfer Date.
Risk Transfer. The Council benefits in the income strip arrangement by being able to transfer financial and development risks to a Fund. The development would be financed by the Fund (sheltering the Council from the risk of borrowing long- term itself) and, as they appoint the developer, the development risk would also be with the Fund.
Risk Transfer. Where we have agreed with certain insurers to receive money as their agent, money received from you (or the insurer) will become (or remain) the property of the insurer whilst we hold it. Therefore if you pay a premium to us it will be treated as having been received by the insurer which means that you cannot be asked to pay again if we do not pay the insurer. Similarly, the insurer will bear the risk if claims money or return bears the risk of such losses the industry often refers to this as Risk