Contract works insurance Sample Clauses
The contract works insurance clause requires that insurance coverage is maintained for construction works and materials during the course of a project. This insurance typically covers damage or loss to the works, materials, and sometimes equipment on site, from risks such as fire, theft, or accidental damage, until the project is completed and handed over. By ensuring that any unforeseen damage or loss is financially covered, this clause protects both the contractor and the client from unexpected costs and disruptions, thereby allocating risk and ensuring the continuity of the construction process.
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Contract works insurance. Which includes cover from the time the goods leave the Company’s premises in the Republic of South Africa, to the time the Works are completed;
Contract works insurance. 7.1.1 Contract works In the event that the property insured comprising:
a) contract works;
b) hired-in plant and equipment;
c) plant, temporary buildings and other property;
d) personal effect and tools; or as otherwise described in the schedule be accidentally damaged, then we will at our option indemnify you, reinstate or replace the property insured or any part thereof up to the sum insured provided that damage that occurs during the period of insurance and the property insured is:
i) on or adjacent to the contract site within the United Kingdom; or
ii) in transit to or from the contract site; or
iii) temporarily stored away from the contract site, including storage at your premises, but for property insured by sub clause a) above storage at your premises is only covered if the contract works are consigned for use in a specific contract and you are responsible for the damage under contract conditions.
Contract works insurance where Works are to an existing structure (including, but not limited to, renovations, extensions, relevelling etc.), the Client is responsible to arrange said insurance, prior to the Contractor undertaking the Works, however, for Contracts over the threshold of $30,000 under the Building Amendment Act 2013, these will require the comprehensive Building Contract, which is outside the scope of these terms and conditions.
Contract works insurance. (a) Within 10 Business Days after the Commencement Date, QR Network must effect and maintain until the Available Date for the last of the Segments to become Available a contract works material damage insurance policy covering physical loss or damage to the Extension.
(b) The insurance policy referred to in clause 12.1(a) must be for an amount in respect of any one occurrence of not less than the maximum expected foreseeable loss from one occurrence of property damage with a deductible for any one claim of not more than $1 million.
Contract works insurance. 8.2.1 The Subcontractor is responsible for insuring their Subcontract Works, temporary works and materials while not on the site.
8.2.2 If the Contractor agrees that the Subcontractor is not required to have in place Contract Works Insurance for the Subcontract Works on site:
a) The Subcontract Works, materials and temporary works will be covered by insurance put in place by the Principal or the Contractor under the Head Contract; and
b) The Subcontractor must be an insured party under the insurance put in place by the Principal or the Contractor under the Head Contract, but only for the risks and subject to the conditions stipulated in these policies.
8.2.3 Unless otherwise provided under 8.2.2, the Subcontractor must insure their Subcontract Works, Temporary Works and materials whether fixed in position or not. The period and sum insured must be as stated in the Subcontract Specific Conditions. The Subcontractor’s policy must include automatic extension of cover for variations to the Subcontract Works.
Contract works insurance. This policy provides insurance cover on all contracts for accidental physical loss of or damage to contract works, temporary works and materials intended for incorporation into the works and may include inland transit cover (except where it is a continuation of marine transit). Contracts, undertaken by: 12.1.1.1 the insured (i.e. the Principal or South African National Intelligence Agency) hereinafter referred to as the employer, whichever organisation will then be deemed as a contractor: Provided its rights do not exceed the rights of any independent contractor working on its behalf; 12.
Contract works insurance