Common use of Deposit of policies Clause in Contracts

Deposit of policies. The Charterers shall deposit with the Approved Brokers (or procure the deposit of) all slips, cover notes, policies, certificates of entry or other instruments of insurance from time to time issued in connection with the Insurances as are effected through the Approved Brokers and to procure that the interest of the Owners shall be endorsed and, where the Insurances have been assigned to the Owners, by means of a notice of assignment the Owners shall be furnished with the originals thereof and to procure that the Approved Broker shall issue to the Owners a letter or letters of undertaking in such form as shall from time to time be reasonably required by the Owners (in line with market standard).