Common use of Adjustment of premium Clause in Contracts

Adjustment of premium. Where the premium in whole or part is provisionally based on estimates provided by the insured, the insured will keep accurate records and declare such information as the insurer require within three (3) months of the expiry of the period of insurance. The premium will then be adjusted and any difference paid by or allowed to the insured as the case may be but subject to any minimum premium that may apply. The insurer reserves the right to request that the insured supplies an auditor’s certificate with such calculations as are subject to adjustment attesting the accuracy thereof.

Adjustment of premium. Where the premium in whole or part is provisionally based on estimates provided by the insuredinsured / policyholder, the insured insured/policyholder will keep accurate records and declare such information as the insurer require Insurer requires within three (3) months of the expiry of the period of insuranceinsurance cover. The premium will then be adjusted and any difference paid by or allowed to the insured policyholder as the case may be but subject to any minimum premium that may apply. The insurer Insurer reserves the right to request that the insured / policyholder supplies an auditor’s certificate with such calculations as are subject to adjustment attesting the accuracy thereof.

Adjustment of premium. Where the premium in whole or part is provisionally based on estimates provided by the insured, the insured will keep accurate records and declare such information as the insurer require requires within three (3) months of the expiry of the period of insurance. The premium will then be adjusted and any difference paid by or allowed to the insured as the case may be but subject to any minimum premium that may apply. The insurer reserves the right to request that the insured supplies an auditor’s certificate with such calculations as are subject to adjustment attesting the accuracy thereof.