Binding of Risks Sample Clauses

The "Binding of Risks" clause establishes the point at which the responsibility for loss or damage to goods transfers from the seller to the buyer. Typically, this clause specifies that risk passes at a certain stage in the transaction, such as upon delivery, shipment, or acceptance of goods, and may outline exceptions or special conditions. Its core practical function is to clearly allocate risk between parties, preventing disputes over liability if goods are lost or damaged during transit or storage.
Binding of Risks. To bind and report all risks in accordance with this Agreement, and any other underwriting and pricing standards established by Company in writing and provided to Manager. Manager is to forward all other risks to Company, for review.
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Binding of Risks. For the line(s) of business specified in Exhibit A, you will only bind risks in accordance with the underwriting rules, regulations and directives we provide to you.
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Binding of Risks. To bind risks only in accordance with the terms of Exhibit A and any other underwriting and pricing standards from time to time established by the Insurer in writing and provided to the MGA, to report all risks bound in accordance with the terms of Exhibit A, and to forward to the Insurer for acceptance all other risks.
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Binding of Risks. To bind risks only in accordance with Exhibit A and any other underwriting and pricing standards from time to time established by the Company in writing, and to forward to the Company for acceptance all other risks.
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Related to Binding of Risks

  • Understanding of Risks Purchaser is fully aware of: (a) the highly speculative nature of the investment in the Shares; (b) the financial hazards involved; (c) the lack of liquidity of the Shares and the restrictions on transferability of the Shares (e.g., that Purchaser may not be able to sell or dispose of the Shares or use them as collateral for loans); (d) the qualifications and backgrounds of the management of the Company; and (e) the tax consequences of investment in the Shares.

  • Binding Nature This Agreement shall be binding upon, and inure to the benefit of, the successors and personal representatives of the respective parties hereto.

  • Binding Contract We understand that this Tender, together with your written acceptance thereof included in your Letter of Acceptance, shall constitute a binding contract between us, until a formal contract is prepared and executed;

  • Binding Agreement This Agreement shall be binding and inure to the benefit of the Parties hereto and their respective heirs, legal successors, and assigns.

  • Binding Decision The arbitrator shall hear and determine the grievance, and shall issue a decision which is final and binding on the Parties and any person affected by it.