1/7/25. INSTITUTE TIME CLAUSES. (Page 1*J 20. In the event of accident whereby loss or damage may result in a claim under this Policy notice shall be given in writing to the Underwriters where practicable and if abroad to the nearest Lloyd's Agent also prior to survey so that they may appoint their own surveyor if they so desire. The Underwriters shall be entitled to decide the port to which a damaged vessel shall proceed for docking or repairing (the actual additional expense of the voyage arising from compliance with Underwriters' requirements being refunded to the Owners) and Underwriters shall also have a right of veto in connection with the place of repair or repairing Firm proposed, and whenever the extent of the damage is ascertainable the Underwriters may take or may require the Assured to take tenders for the repair of such damage. In cases where a tender is accepted by or with the approval of Underwriters, the Underwriters will make an allowance at the rate of £30 per cent. per annum on the insured value for the time actually lost in waiting for tenders. In the event of the Assured failing to comply with the conditions of this Clause, £15 per cent. shall be deducted from the amount of the ascertained claim. This alteration alters the numbering of the succeeding clauses, e.g., old 22 becomes 21 and so on. This revision applies also to Excess 3% P/A (page 5), Internal Combustion Engines (page 12) Clauses 21 and 22, Voyage Clauses Hulls (page 9) Clauses 14 and 15. 1/7/25. INSTITUTE CLAUSES FOR BUILDERS' RISKS. RISK TO COMMENCE FROM LAYING OF KEEL. (Page 22.) Attached to Policy per.................................................................... ....for £..................dated........... 1. This Insurance is also to cover all risks, including fire, while under con• struction and/or fitting out, except in Buildings or Workshops, but including materials in yards and docks of the assured, or on quays, pontoons, craft, &c., and all risk while in transit to and from the works and/or the vessel wherever she may be lying, also all risks of loss or damage through collapse of supports or ways from any cause whatever, and all risks of launching and breakage of the ways. 2. This Insurance is also to cover all risks of trial trips, loaded or otherwise, as often as required, and all risks whilst proceeding to and returning from the trial course. 3. With leave to proceed to and from any wet or dry docks, harbours, ways, cradles, and pontoons during the currency of this policy. * Page numbers refer to Marine Insurance Clauses and Analysis (1925 Edition). 4 With Jeave ic fire guns and torpedoes but no claim to attach hereto for loss of or damage to saine or to ship or machinery unless the accident results in the total loss of the vessel. 5. In case of failure of launch, underwriters to bear all subsequent expenses incurred in completing launch. 6. Average payable irrespective of percentage, and without deduction of one-third, whether the Average be particular or general. 7. General average and salvage to be be adjusted according to the law and practice obtaining at the place where the adventure ends, as if the contract of affreightment contained no special terms upon the subject; but where the contract of affreightment so provides the adjustment shall be according to York-Antwerp Rules 1890 (omitting in the case of wood cargoes the first word, "No," of Rule I) or York-Antwerp Rules 1924; and in the event of Salvage, towage, or other assistance being rendered to the Vessel hereby insured by any Vessel belonging in part or in whole to the same owners, it is hereby agreed that the value of such services (without regard to the common ownership of the Vessels) shall be ascertained by Arbitration in the manner hereinafter provided for under "Collision Clause," and the amount so awarded, so far as applicable to the interest hereby insured, shall constitute a charge under this policy. 8. In event of deviation to be held covered at an additional premium to be hereafter arranged. 9. To cover while building all damage to hull, machinery, apparel, or furniture, caused by settling of the stocks, or failure or breakage of shores, blocking or staging, or of hoisting or other gear, either before or after launching and while fitting out. 10. Full contract value to be the basis of the insurance. 11. It is agreed that any changes of interest in the steamer hereby insured shall not affect the validity of this policy. 12. And it is expressly declared and agreed that no acts of the Insurer or Insured, in recovering, saving, or preserving the property insured shall be considered as a waiver or acceptance of abandonment. 13. This Insurance also specially to cover loss of or damage to the hull or machinery, through negligence of Master, Mariners, Engineers or pilots, or through explosions, bursting of boilers, breakage of shafts, or through any latent defect in the Machinery, or Hull, or from other causes, arising either on shore or otherwise, causing loss of or injury to the property hereby insured, provided such loss or damage has not resulted from want of due diligence by the Owners of the Ship or any of them, or by the Manager, and to cover all risks incidental to navigation, or in graving docks. 14. COLLISION CLAUSE. And it is further agreed that if the Ship hereby insured shall come into collision with any other Ship or Vessel, and the Assured shall in consequence thereof become liable to pay, and shall pay by way of damages to any other person or persons any sum or sums in respect of such collision the Undersigned will pay the Assured such proportion of such sum or sums so paid as their respective subscriptions hereto bear to the insured value of the Ship hereby Insured, provided always that their liability in respect of any one such collision shall not exceed their proportionate part of the value of the Ship hereby Insured, and in cases in which the liability of the ship has been contested, or proceedings have been taken to limit liability, with the consent in writing of the Undersigned, they will also pay a like proportion of the costs which the Assured shall thereby incur, or be compelled to pay; but when both Vessels are to blame, then, unless the liability of the Owners of one or both of such Vessels becomes limited by law, claims under this clause shall be settled on the principle of cross-liabilities as if the Owners of each Vessel had been compelled to pay to the Owners of the other of such Vessels such one-half or other proportion of the latter's damages as may have been properly allowed in ascertaining the balance or sum payable by or to the Assured in consequence of such collision. And it is further agreed that the principles involved in this clause shall apply to the case where both Vessels are the property, in part or in whole, of the same owners, all questions of responsibility and amount of liability as between the two Ships being left to the decision of a single Arbitrator, if the parties can agree upon a single Arbitrator, or failing such agreement, to the decision of Arbitrators, one to be appointed by the managing owners of both Vessels, and one to be appointed by the majority in amount of Underwriters interested in each vessel; the two Arbitrators chosen to choose a third Arbitrator before entering upon the reference. The terms of the Arbitration Act of 1889 to apply to such reference, and the decision of such single, or of any two of such three Arbitrators, appointed as above, to be final and binding. This clause shall also extend to any sum which the Assured may become liable to pay, or shall pay for removal of obstructions under statutory powers for injury to harbours, wharves, piers, stages, and similar structures, or for loss of life or personal injury consequent on such collision. PROTECTION AND INDEMNITY CLAUSE. 15. It is further agreed that if the Assured shall by reason of his interest in the insured ship become liable to pay and shall pay any sum or sums in respect of any responsibility, claim, demand, damages, and/or expenses arising from or occasioned by any of the following matters or things during the currency of this policy, that is to say: Loss of or damage to any other ship or goods, merchandise, freight, or other things or interests, whatsoever, on board such other ship, caused proxi mately or otherwise by the ship insured in so far as the same is not covered by the running down clause set out above: Loss of or damage to any goods, merchandise, freight, or other things or interest whatsoever, other than as aforesaid (not being builders' gear or material or cargo on the insured ship), whether on board the insured ship or not, which may arise from any cause whatsoever : Loss of or damage to any harbour, dock (graving or otherwise), slipway, way, gridiron, pontoon, pier, quay, jetty, stage, buoy, telegraph cable or other fixed or moveable thing whatsoever, or to any goods or property in or on the same, howsoever caused: Any attempted or actual raising, removal, or destruction of the wreck of the insured ship or the cargo thereof, or any neglect or failure to raise, remove, or destroy the same: Any sum or sums for which the assured may become liable or incur from causes not herein before specified, but which are absolutely or conditionally recoverable from or undertaken by the Liverpool and London Steamship Protection Association, Limited, and/or North of England Protecting and Indemnity Association, but excluding loss of life and personal injury: the Undersigned will pay the assured such proportion of such sum or sums so paid, or which may be required to indemnify the assured for such loss, as their respective subscriptions bear to the insured value of the ship hereby insured, provided always that the amount recoverable hereunder in respect of any one accident or series of accidents arising out of the same event shall not exceed the sum hereby insured, and when the liability of the Assured has been contested with the consent in writing of two-thirds (in amount) of the Underwriters on the ship hereby insured, the undersigned will also pay a like proportion of the costs which the Assured shall thereby incur or be compelled to pay. Notwithstanding the foregoing, this Policy is warranted free from any claim arising directly or indirectly under Workmen's Compensation or Employers' Liability Acts and any other Statutory or Common Law liability in respect of accidents to workmen. (A) Warranted free of capture, seizure, arrest, restraint, or detainment, and the consequences thereof or of any attempt thereat (piracy excepted), and also from all consequences of hostilities or warlike operations whether before or after declaration of war. (B) Warranted free of loss or damage caused by strikers, locked-out workmen or persons taking part in labour disturbances or riots or civil commotions. Should clause (A) be deleted, clause (C) is to operate as part of this policy. (c) Warranted free of any claim based upon loss of, or frustration of, the insured voyage, or adventure, caused by arrests, restraints or detainments of kings, princes or peoples. (D) Warranted free of loss or damage caused by earthquake. 1/7/25. INSTITUTE STANDARD PORT RISK CLAUSES. Attached to Policy per.. ..for £............ .dated.. (Page 32.) 1. With leave to proceed to and from any wet or dry docks, harbours, ways, cradles, and pontoons during the currency of this policy within the limits mentioned herein. 2. Average payable irrespective of percentage, and without deduction of one-third, whether the Average be particular or general. 3. General average and salvage to be adjusted according to the law and practice obtaining at the place where the adventure ends, as if the contract of affreightment contained no special terms upon the subject; but where the contract of affreightment so provides the adjustment shall be according to York-Antwerp Rules 1890 (omitting in the case of wood cargoes the first word, "No," of Rule 1) or York-Antwerp Rules 1924; and in the event of Salvage, towage, or other assistance being rendered to the Vessel hereby insured by any Vessel belonging in part or in whole to the same owners, it is hereby agreed that the value of such services (without regard to the common ownership of the Vessels) shall be ascertained by Arbitration in the manner hereinafter provided for under "Collision Clause," and the amount so awarded, so far as applicable to the interest hereby insured, shall constitute a charge under this policy. 4. In event of deviation to be held covered at an additional premium to be hereafter arranged, provided previous notice be given. 5. And it is expressly declared and agreed that no acts of the Insurer or Insured, in recovering, saving, or preserving the property insured shall be considered as a waiver or acceptance of abandonment. 6. This insurance also specially to cover loss of or damage to the hull or machinery, through negligence of Master, Mariners, Engineers, or pilots, or through explosions, bursting of boilers, breakage of shafts, cr through any latent defect in the Machinery, or Hull, or from explosions, either on shore or otherwise, causing loss of or injury to the property hereby insured provided such loss or damage has not resulted from want of due diligence by the Owners of the Ship or any of them, or by the Manager, and to cover all risks incidental to navigation, or in graving docks. 7. In ascertaining whether the Vessel is a constructive total loss the insured value shall be taken as the repaired value, and nothing in respect of the damaged or break-up value of the Vessel or wreck shall be taken into account. 8. In the event of accident whereby loss or damage may result in a claim under this Policy notice shall be given in writing to the Underwriters where practicable and if abroad to the nearest Lloyd's Agent also prior to survey so that they may appoint their own surveyor if they so desire. The Underwriters shall be entitled to decide tre port to which a damaged vessel shall proceed for docking or repairing (the actual additional expense of the voyage arising from compliance with Underwriters' requirements being refunded to the Owners) and Underwriters shall also have a right of veto in connection with the place of repair or repairing |