Examples of Contract Works Insurance in a sentence
Important note This information is provided to assist you in understanding some terms, implications and common considerations of Contract Works Insurance , it is not complete, so please request full details from your Steadfast insurance broker.
Any amount which becomes payable to the Contractor or any of his Subcontractors as a result of a claim under the Contract Works Insurance shall if required by the Employer be paid net of the Deductible to the Employer who shall pay the Contractor from the proceeds of such payment upon rectification repair or reinstatement of the loss or damage but this provision shall not in any way affect the Contractor's obligations liabilities or responsibilities in terms of the Contract.
Contract Works Insurance for the full value of the Works to provide cover against accidental physical loss of or damage to the Works, Temporary Works and materials intended for incorporation in the Works all being the subject matter of this Contract including to the extent provided for in the policy whilst in transit or temporarily stored at any premises en route to or from the Site (other than where this is a continuation of Marine Transit) within the territorial limits of the policy.
Contract Works Insurance - a limit of liability of not less than the full reinstatement or replacement value of the Works under the Contract, together with costs of demolition and removal of debris and contractors fees.
Contract Works Insurance The Ministry provides contract works insurance at a minimal cost to the construction project at state schools.
Only if expressly stated in the Purchase Order, without limiting the Contractor’s obligations and responsibilities under this Contract, either Barrick or Bulyanhulu shall bring into effect insurances in respect of Contract Works Insurance, Marine / Transit Insurance and Public Liability Insurance in the joint names of Barrick, Bulyanhulu, the Contractor and all sub- contractors.
This policy is to include as named insured, the Tenant, the MMA and the Fit out Contractor.➢ Motor vehicle, plant and equipment insurance,➢ Contract Works Insurance, This policy is to include as named, the insured parties including the Tenant, the MMA and the Fit out Contractor, and➢ Work cover insurance, covering all personnel engaged for the Fit out.
For example, on engineering and construction works contracts a contractor can have many risks covered by effecting insurances such as Contract Works Insurance, Public Liability Insurances, SASRIA Special Risks Insurance, Removal of Support Insurance, general insurance cover for plant owned or hired by them, and Professional Indemnity Insurance.
Any amount which becomes payable to the Contractor or any of his Sub-contractors as a result of a claim under the Contract Works Insurance shall, if required by the Employer, be paid net of the Deductible to the Employer, who shall pay the Contractor from the proceeds of such payment upon rectification, repair, or reinstatement of the loss or damage.
Our Client’s have a policy of taking out Contract Works Insurance for New Build’s also.