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. 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. FEES & CHARGES 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. 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. 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 of loss for all Products stored at Inventory shall pass from XXX 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 XXX together with proof of payment of premiums and, at XXX’x request, shall cause XXX to be named as an additional insured under such policies as its interests may appear, with waiver of recourse as appropriate.
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. 4.1 The moment of the risk transfer of the sold goods is established by international standards for the interpretation of the commercial terms (INCOTERMS) of the International Chamber of Commerce, in force from the stipulation date of the agreement.
Risk Transfer. We remind you that when you (or someone else designated by you) take physical possession of the Products ordered, the risk of loss or damage to the Products will be transferred. We remind you that, in accordance with the legislation, if you choose another carrier to deliver your order than the one we offer you, the risks of the thing will be transferred to you as soon as we hand over the goods to your carrier.
Risk Transfer a. We have risk transfer with all our Insurers and they allow us to cascade this to you. For the avoidance of doubt therefore we are appointing you as our agent for this purpose and we grant you risk transfer in respect of all premiums (including additional and return premiums, but not claims payments).
