Common use of Copies of Insurance Certificates Clause in Contracts

Copies of Insurance Certificates. On or promptly after the Actual Delivery Date and within five Banking Days following the issuance or renewal of any insurance policy required to be in effect under this Charter, the Charterers shall furnish the Owners with approved certificates of all Insurances. Such certificates shall be executed by the insurer or by an Approved Broker. Such certificates shall identify underwriters, the type of insurance, the insurance limits and the policy term and shall specifically list the special provisions enumerated for such insurance required by this Clause 49. Concurrently with the furnishing of any such certificate, the Charterers shall furnish the Owners with a certificate of an Approved Broker to the effect that the insurance then carried or to be renewed is in accordance with the terms of this Clause 49, such insurance is in full force and effect and all premiums then due and payable have been paid.