太平财险条款Institute Time Clauses -Hulls

This insurance is subject to English law and practice1 NAVIGATION1.1 The Vessel is covered subject to the provisions of this insurance at all times and has leave to sail or navigate with or without pilots, to goon trial trips and to assist and tow vessels or craft in distress, but it is warranted that the Vessel shall not be towed, except as is customaryor to the first safe port or place when in need of assistance, or undertake towage or salvage services under a contract previously arrangedby the Assured and/or Owners and/or Managers and/or Charterers. This Clause 1.1, shall not exclude customary towage in connection withloading and discharging,1.2 In the event of the Vessel being employed in trading operations which entail cargo loading or discharging at sea from or into anothervessel (not being a harbour or inshore craft) no claim shall be recoverable under this insurance for loss of or damage to the Vessel orliability to any other vessel arising from such loading or discharging operations, including whilst approaching, lying alongside and leaving,unless previous notice that the Vessel is to be employed in such operations has been given to the Underwriters and any amended terms ofcover and any additional premium required by them have been agreed.1.3 In the event of the Vessel sailing (with or without cargo) with an intention of being (a) broken up, or (b) sold for breaking up, any claimfor loss of or damage to the Vessel occurring subsequent to such sailing shall be limited to the market value of the Vessel as scrap at thetime when the loss or damage is sustained, unless previous notice has been given to the Underwriters and any amendments to the terms ofcover insured value and premium required by them have been agreed. Nothing in this Clause 1.3 shall affect claims under Clauses 8 and/or11.2 CONTINUATIONShould the Vessel at the expiration of this insurance be at sea or in distress or at a port of refuge or of call, she shall, provided previousnotice be given to the Underwriters, be held covered at a pro rata monthly premium to her port of destination.3 BREACH OF WARRANTYHeld covered in case of any breach of warranty as to cargo, trade, locality towage, salvage services or date of sailing, provided notice begiven to the Underwriters immediately after receipt of advices and any amended terms of cover and any additional premium required bythem be agreed.4 TERMINATIONThis Clause 4 shall prevail notwithstanding any provision whether written typed or printed in this insurance inconsistent the Underwriters agree to the contrary in writing, this insurance shall terminate automatically at the time of4.1 change of the Classification Society of the Vessel, or change, suspension, discontinuance, withdrawal or expiry of her Class therein,provided that if the Vessel is at sea such automatic termination shall be deferred until arrival at her next port. However where such change,suspension, discontinuance or withdrawal of her Class has resulted from loss or damage covered by Clause 6 of this insurance or whichwould be covered by an insurance of the Vessel subject to current Institute War and Strikes Clauses Hulls-Time such automatic terminationshall only operate should the Vessel sail from her next port without the prior approval of the Classification Society.4.2 any change, voluntary or otherwise, in the ownership or flag, transfer to new management, or charter on a bareboat basis, or requisitionfor title or use of the Vessel, provided that, if the Vessel has cargo on board and has already sailed from her loading port or is at sea inballast, such automatic termination shall if required be deferred, whilst the Vessel continues her planned voyage, until arrival at final port ofdischarge if with cargo or at port of destination if in ballast. However in the event a requisition for title or use without the priorexecution of a written agreement by the Assured, such automatic termination shall occur fifteen days after such requisition whether theVessel is at sea or in port. A pro rata daily net return of premium shall be made.5 ASSIGNMENTNo assignment of or interest in this insurance or in any moneys which may be or become payable thereunder is to be binding on orrecognised by the Underwriters unless a dated notice of such assignment or interest signed by the Assured, and by the assignor in the caseof subsequent assignment, is endorsed on the Policy and the policy with such endorsement is produced before payment of any claim orreturn of premium thereunder.6 PERILS6.1 This insurance covers loss of or damage to the subject-matter insured caused by6.1.1. perils of the seas rivers lakes or other navigable waters6.1.2 fire, explosion6.1.3 violent theft by persons from outside the Vessel6.1.4 jettison6.1.5 piracy6.1.6 breakdown of or accident to nuclear installations or reactors6.1.7 contact with aircraft or similar objects, or objects falling therefrom, land conveyance, dock or harbour equipment or installation6.1.8 earthquake volcanic eruption or lightning.6.2 This insurance covers loss of or damage to the subject-matter insured caused by6.2.1 accidents in loading discharging or shifting cargo or fuel6.2.2 bursting of boilers breakage of shafts or any latent defect in the machinery or hull6.2.3 negligence of Master Officers Crew or Pilots6.2.4 negligence of repairers or charterers provided such repairers or charterers are not an Assured hereunder6.2.5 barratry of Master Officers or Crewprovided such loss or damage has not resulted from want of due diligence by the Assured, Owners or Managers.

6.3 Master Officers Crew or Pilots not to be considered Owners within the meaning of this Clause 6 should they hold shares in the Vessel7 POLLUTION HAZARDThis insurance covers loss of or damage to the Vessel caused by any governmental authority acting under the powers vested in it toprevent or mitigate a pollution hazard, or threat thereof, resulting directly from damage to the Vessel for which the Underwriters are liableunder this insurance, provided such act of governmental authority has not resulted from want of due diligence by the Assured, the Owners,or Managers of the Vessel or any of them to prevent or mitigate such hazard or threat. Master, Officers, Crew or Pilots not to be consideredOwners within the meaning of this Clause 7 should they hold shares in the Vessel.8 3/4THS COLLISION LIABILITY8.1 The Underwriters agree to Indemnify the Assured for three-fourths of any sum or sums paid by the Assured to any other person orpersons by reason of the Assured becoming legally liable by way of damages for8.1.1. loss of or damage to any other vessel or property on any other vessel8.1.2 delay to or loss of use of any such other vessel or property thereon8.1.3 general average of, salvage of, or salvage under contract of, any such other vessel orproperty thereon, where such payment by the Assured is in consequence of the Vessel hereby insured coming into collision with any othervessel.8.2 The indemnity provided by this Clause 8 shall be in addition to the indemnity provided by the other terms and conditions of thisinsurance and shall be subject to the following provisions:8.2.1 Where the insured Vessel is in collision with another vessel and both vessels are to blame then, unless the liability of one or bothvessels becomes limited by law, the indemnity under this Clause 8 shall be calculated on the principle of cross-liabilities as if the respectiveOwners had been compelled to pay to each other such proportion of each other's damages as may have been properly allowed inascertaining the balance or sum payable by or to the Assured in consequence of the collision,8.2.2 In no case shall the Underwriters' total liability under Clauses 8.1 and 8.2 exceed their proportionate part of three-fourths of theinsured value of the Vessel hereby insured in respect of any one ions8.4 Provided always that this Clause 8 shall in no case extend to any sum which the Assured shall pay for or in respect of8.4.1 removal or disposal of obstructions, wrecks, cargoes or any other thing whatsoever8.4.2 any real or personal property or thing whatsoever except other vessels or property on other vessels8.4.3 the cargo or other property on, or the engagements of, the insured Vessel8.4.4 loss of life, personal injury or illness8.4.5 pollution orcontamination of any real or personal property or thing whatsoever (except other vessels with which the insured Vessel isin collision or property on such other vessels).8.3 The Underwriters will also pay three-fourths of the legal costs incurred by the Assured or which the Assured may be compelled to pay incontesting liability or taking proceedings to limit liability with the prior written consent of the Underwriters.9 SISTERSHIPShould the Vessel hereby insured come into collision with or receive salvage services from another vessel belonging wholly or in part to thesame Owners or under the same management, the Assured shall have the same rights under this insurance as they would have were theother vessel entirely the property of Owners not interested in the Vessel hereby insured; but in such cases the liability for the collision or theamount payable for the services rendered shall be referred to a sole arbitrator to be agreed upon between the Underwriters and theAssured.10 NOTICE OF CLAIM AND TENDERS10.1 In the event of accident whereby loss or damage may result in a claim under this insurance, notice shall be given to the Underwritersprior to survey and also, if the Vessel is abroad, to the nearest Lloyd's Agent so that a surveyor may be appointed to represent theUnderwriters should they so desire.10.2 The Underwriters shall be entitled to decide the port to which the Vessel shall proceed for docking or repair (the actual additionalexpense of the voyage arising from compliance with the Underwriters. requirements being refunded to the Assured) and shall have a right ofveto concerning a place of repair or a repairing firm.10.3 The Underwriters may also take tenders or may require further tenders to be taken for the repair of the Vessel. Where such a tenderhas been taken and a tender is accepted with the approval of the Underwriters, an allowance shall be made at the rate of 300fo per annumon the insured value for time lost between the despatch of the invitations to tender required by Underwriters and the acceptance of a tenderto the extent that such time is lost solely as the result of tenders having been taken and provided that the tender is accepted without delayafter receipt of the Underwriters' approval. Due credit shall be given against the allowance as above for any amounts recovered in respectof fuel and stores and wages and maintenance of the Master Officers and Crew or any member thereof, including amounts allowed ingeneral average, and for any amounts recovered from third parties in respect of damages for detention and/or loss of profit and/or runningexpenses, for the period covered by the tender allowance or any part hereof, Where a part of the cost of the repair of damage other than afixed deductible is not recoverable from the Underwriters, the allowance shall be reduced by a similar proportion.10.4 In the event of failure to comply with the conditions of this Clause 10 a deduction of 15% shall be made from the amount of theascertained claim.11 GENERAL AVERAGE AND SALVAGE11.1 This insurance covers the Vessel's proportion of salvage, salvage charges and/or general average, reduced in respect of any under-insurance, but in case of general average sacrifice of the Vessel the Assured may recover in respect of the whole loss without first enforcingtheir right of contribution from other parties.11.2 Adjustment to be according to the law and practice obtaining at the place where the adventure ends, as if the contract of affreightmentcontained no special terms upon the subject: but where the contract of affreightment so provides the adjustment shall be according to the

York-Antwerp Rules.11.3 When the Vessel sails in ballast, not under charter the provisions of the York-Antwerp Rules, 1974 (excluding Rules XX and XXI) shallbe applicable, and the voyage for this purpose shall be deemed to continue from the port or place of departure until the arrival of the Vesselat the first port or place thereafter other than a port or place of refuge or a port or place of call for bunkering only If at any suchintermediate port or place there is an abandonment of the adventure originally contemplated the voyage shall thereupon be deemed to beterminated.11.4 No claim under this Clause 11 shall in any case be allowed where the loss was not incurred to avoid or in connection with theavoidance of a peril insured against.12 DEDUCTIBLE12.1 No claim arising from a peril insured against shall be payable under this insurance unless the aggregate of all such claims arising outof each separate accident or occurrence (including claims under Clauses 8,11 and 13) exceeds _________________ in which case thissum shall be deducted. Nevertheless the expense of sighting the bottom after stranding, if reasonably incurred specially for that purpose,shall be paid even if no damage be found, This Clause 12,1 shall not apply to a claim for total or constructive total loss of the Vessel or inthe event of such a claim, to any associated claim under Clause 13 arising from the same accident or occurrence.12.2 Claims for damage by heavy weather occurring during a single sea passage between two successive ports shall be treated as beingdue to one accident. In the case of such heavy weather extending over a period not wholly covered by this insurance the deductible to beapplied to the claim recoverable hereunder shall be the proportion of the above deductible that the number of days of such heavy weatherfalling within the period of this insurance bears to the number of days of heavy weather during the single sea passage, The expression"heavy weather" in this Clause 12.2 shall be deemed to include contact with floating ice.12.3 Excluding any interest comprised therein, recoveries against any claim which is subject to the above deductible shall be credited to theUnderwriters in full to the extent of the sum by which the aggregate of the claim unreduced by any recoveries exceeds the above deductible.12.4 Interestcomprised in recoveries shall be apportioned between the Assured and the Underwriters, taking into account the sums paid bythe Underwriters and the dates when such payments were made, notwithstanding that by the addition of interest the Underwriters mayreceive a larger sum than they have paid.13 DUTY OF ASSURED (SUE AND LABOUR)13.1 In case of any loss or misfortune it is the duty of the Assured and their servants and agents to take such measures as may bereasonable for the purpose of averting or minimising a loss which would be recoverable under this insurance.13.2 Subject to the provisions below and to Clause 12 the Underwriters will contribute to charges properly and reasonably incurred by theAssured their servants or agents for such measures. General average, salvage charges (except as provided for in Clause13,5) andcollision defence or attack costs are not recoverable under this Clause 13.13.3 Measures taken by the Assured or the Underwriters with the object of saving, protecting or recovering the subject-matter insured shallnot be considered as a waiver or acceptance of abandonment or otherwise prejudice the rights of either party.13.4 When expenses are incurred pursuant to this Clause 13 the liability under this insurance shall not exceed the proportion of suchexpenses that the amount insured hereunder bears to the value of the Vessel as stated herein, or to the sound value of the Vessel at thetime of the occurrence giving rise to the expenditure if the sound value exceeds that value, Where the Underwriters have admitted a claimfor total loss and property insured by this insurance is saved, the foregoing provisions shall not apply unless the expenses of suing andlabouring exceed the value of such property saved and then shall apply only to the amount of the expenses which is in excess of suchvalue.13.5 When a claim for total loss of the Vessel is admitted under this insurance and expenses have been reasonably incurred in saving orattempting to save the Vessel and other property and there are no proceeds, or the expenses exceed the proceeds, then this insuranceshall bear its pro rata share of such proportion of the expenses, or of the expenses in excess of the proceeds, as the case may be, as mayreasonably be regarded as having been incurred in respect of the Vessel; but if the Vessel be insured for less than its sound value at thetime of the occurrence giving rise to the expenditure, the amount recoverable under this clause shall be reduced in proportion to the under-insurance.13.6 Thesum recoverable under this Clause 13 shall be In addition to the loss otherwise recoverable under this insurance but shall in nocircumstances exceed the amount insured under this insurance in respect of the Vessel.14 NEW FOR OLDClaims payable without deduction new for old.15 BOTTOM TREATMENTIn no case shall a claim be allowed in respect of scraping gritblasting and/or other surface preparation or painting of the Vessel's bottomexcept that15.1 gritblasting and/or other surface preparation of new bottom plates ashore and supplying and applying any "shop" primer thereto,15.2 gritblasting and/or other surface preparation of: the butts or area of plating immediately adjacent to any renewed or refitted platingdamaged during the course of welding and/or repairs, areas of plating damaged during the course of fairing, either in place or ashore,15.3 supplying and applying the first coat of primer/anti-corrosive to those particular areasmentioned in 15.1 and 15.2 above, shall be allowed as part of the reasonable cost of repairs in respect of bottom plating damaged by aninsured peril.16 WAGES AND MAINTAINANCENo claims shall be allowed, other than in general average, for wages and maintenance of the Master Officers and Crew, or any memberthereof except when incurred solely for the necessary removal of the Vessel from one port to another for the repair of damage covered bythe Underwriters, or for trial trips for such repairs, and then only for such wages and maintenance as are incurred whilst the Vessel is underway.17 AGENCY COMMISSIONIn no case shall any sum be allowed under this insurance either by way of remuneration of the Assured for time and trouble taken to obtainand supply information or documents or in respect of the commission or charges of any manager, agent. managing or agency company or

the like, appointed by or on behalf of the Assured to perform such services.18 UNREPAIRED DAMAGE18.1 Themeasure of indemnity In respect of claims for unrepaired damage shall be the reasonable depreciation in the market value of theVessel at the time this insurance terminates arising from such unrepaired damage, but not exceeding the reasonable cost of repairs.18.2 In nocase shall the Underwriters be liable for unrepaired damage In the event of a subsequent total loss (whether or not covered underthis insurance) sustained during the period covered by this insurance or any extension thereof.18.3 The Underwriters shall not be liable in respect of unrepaired damage for more than the insured value at the time this insuranceterminates.19 CONSTRUCTIVE TOTAL LOSS19.1 In ascertaining whether the Vessel is a constructive total loss, the insured value shall be taken as the repaired value and nothing inrespect of the damaged or break-up value of the Vessel or wreck shall be taken into account.19.2 No claim for constructive total loss based upon the cost of recovery and/or repair of the Vessel shall be recoverable hereunder unlesssuch cost would exceed the insured value. In making this determination, only the cost relating to a single accident or sequence of damagesarising from the same accident shall be taken into account.20 FREIGHT WAIVERIn the event of total or constructive total loss no claim to be made by the Underwriters for freight whether notice of abandonment has beengiven or not.21 DISBURSEMENT WARRANTY21.1 Additional insurances as follows are permitted:21.1.1. Disbursements, Managers’Commissions, Profits or Excess or increased Value of Hull and Machinery. A sum not exceeding 25% ofthe value stated herein.21.1.2 Freight, Chartered Freight or Anticipated Freight, insured for time. A sum not exceeding 25% of the value as stated herein less anysum insured, however described, under 21.1.1.21.1.3 Freight, or Hire, under contracts for voyage. A sum not exceeding the gross freight or hire for the current cargo passage and nextsucceeding cargo passage (such insurance to include, if required, a preliminary and an intermediate ballast passage) plus the charges ofinsurance. In the case of a voyage charter where payment is made on a time basis, the sum permitted for insurance shall be calculated onthe estimated duration of the voyage, subject to the limitation of two cargo passages as laid down herein. Any sum insured under 21.1.2 tobe taken into account and only the excess thereof may be insured, which excess shall be reduced as the freight or hire is advanced orearned by the gross amount so advanced or earned.21.1.4 Anticipated Freight if the Vessel sails in ballast and not under Charter. A sum not exceeding the anticipated gross freight on nextcargo passage, such sum to be reasonably estimated on the basis of the current rate of freight at time of insurance plus the charges ofinsurance. Any sum insured under 21.1.2 to be taken into account and only the excess thereof may be insured21.1.5 Time Charter Hire or Charter Hire for Series of Voyages. A sum not exceeding 50% of the gross hire which is to be earned underthe charter in a period not exceeding 18 months. Any sum insured under 21,1,2 to be taken into account and only the excess thereof maybe insured, which excess shall be reduced as the hire isadvanced or earned under the charter by 50% of the gross amount so advanced or earned but the sum insured need not be reduced whilethe total of the sums insured under 21.1.2 and 21.1.5 does not exceed 50% of the gross hire still to be earned under the charter Aninsurance under this Section may begin on the signing of the charter.21.1.6 Premiums. A sum not exceeding the actual premiums of all interests insured for a period not exceeding 12 months (excludingpremiums insured under the foregoing sections but including, if required, the premium or estimated calls on any Club or War etc. Riskinsurance) reducing pro rata monthly.21.1.7 Returns of Premium. A sum not exceeding the actual returns which are allowable under any insurance but which would not berecoverable thereunder in the event of a total loss of the Vessel whether by insured perils or otherwise.21.1.8 Insurance irrespective of amount insured against:Any risks excluded by Clauses 23, 24, 25 and 26 below.21.2 Warranted that no insurance on any interests enumerated in the foregoing 21.1.1 to 21.1.7 in excess of the amounts permitted thereinand no other insurance which includes total loss of the Vessel P P.I., F I.A., OI subject to any other like term, is or shall be effected tooperate during the currency of this insurance by or for account of the Assured, Owners, Managers or Mortgagees, Provided always that abreach of this warranty shall not afford the Underwriters any defence to a claim by a Mortgagee who has accepted this insurance withoutknowledge of such breach.22 RETURNS FOR LAY-UP AND CANCELLATION22.1 To return as follows:22.1.1 Pro rata monthly net for each uncommenced month if this insurance be cancelled by agreement.22.1.2 For each period of 30 consecutive days the Vessel may be laid up in a port or in a lay-up area provided such port or lay-up area isapproved by the Underwriters (with special liberties as hereinafter allowed)(a) per cent not under repair

(b) per cent under repairIf the Vessel is under repair during part only of a period for which a return is claimable, the return shall becalculated pro rata to the number of days under (a) and (b) respectively.

22.2 PROVIDED ALWAYS THAT

22.2.1 a total loss of the Vessel, whether by insured perils or otherwise, has not occurred during the period covered by this insurance orany extension thereof.22.2.2 in no case shall a return be allowed when the Vessel is lying in exposed or unprotected waters, or in a port or lay-up area notapproved by the Underwriters but, provided the Underwriters agree that such non-approved lay-up area is deemed to be within the vicinityof the approved port or lay-up area, days during which the Vessel is laid up in such non-approved lay-up area may be added to days in theapproved port or lay-up area to calculate a period of 30 consecutive days and a return shall be allowed for the proportion of such periodduring which the Vessel is actually laid up in the approved port or lay-up area.22.2.3 loading or discharging operations or the presence of cargo on board shall not debar returns but no return shall be allowed for anyperiod during which the Vessel is being used for the storage of cargo or for lightening purposes.22.2.4 in the event of any amendment of the annual rate, the above rates of return shall be adjusted accordingly.22.2.5 in the event of any return recoverable under this Clause 22 being based on 30 consecutive days which fall on successive insuranceseffected for the same Assured, this insurance shall only be liable for an amount calculated at pro rata of the period rates 22.1.2 (a) and/or(b) above for the number of days which come within the period of this insurance and to which a return is actually applicable. Suchoverlapping period shall run, at the option of the Assured, either from the first day on which the Vessel is laid up or the first day of a periodof 30 consecutive days as provided under 22.1.2 (a) or (b), or 22.2.2 following clauses (23-26) shall be paramountand shall override anything in this insurance inconsistent therewith23 WAR EXCLUSIONIn no case shall this insurance cover loss damage liability or expense caused by23.1 war civil war revolution rebellion insurrection or civil strife arising therefrom, or any hostile act by or against a belligerent power.23.2 captureseizure arrest restraint or detainment (barratry and piracy excepted), and the consequences thereof or any attempt thereat.23.3 derelict mines, torpedoes bombs or other derelict weapons of war.24 STRIKES EXCLUSIONIn no case shall this insurance cover loss damage liability or expense caused by24.1 strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions.24.2 any terrorist or any person acting from a political motive.25 MALICIOUS ACTS EXCLUSIONIn no case shall this insurance cover loss damage liability or expense arising from25.1 the detonation of an explosive25.2 any weapon of warand caused by any person acting maliciously or from a political motive.26 NUCLEAR EXCLUSIONIn no case shall this insurance cover loss, damage, liability or expense arising from any weapon of war employing atomic or nuclear fissionand/or fusion or other like reaction or radioactive force or matter.