minor-works-clause
zadminx februarie 26, 2016 Niciun comentariu

This Clause is to be read and construed in conjunction with the General Provisions and Specific Provisions of the Commercial Property Insurance (Fire & Named Perils).

It is hereby agreed that, subject otherwise to the provisions of the Policy except in so far as same may be varied hereby, the Buildings and Contents (other than computer equipment) entered in the Insurance Schedule shall be held covered whilst undergoing minor alterations, betterments or extensions or other such works at the Premises, excluding however any regular maintenance or repair and any overhaul carried out in the normal course of the Business.

This Clause shall not apply to any property which is otherwise insured during such works and the maximum liability of the Insurer in respect of each item entered in the Insurance Schedule, to which this Clause would be applicable, shall not exceed during any one Period of Insurance the limit of 10% of the difference between the sum insured thereon and the total value of computer equipment, stocks, and property held by the Insured in trust that may be included in such sum insured.

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