Common use of Insurance Premium Clause in Contracts

Insurance Premium. ‌ 6.1. The amount of the insurance premium to be paid by the Insured to the Insurer for each particular object, sum insured, Insurer’s liability limits, insurance rates and the amount of unconditional deductible shall be determined by relevant individual Insurance Policy on the basis of the data filled in the particular Insurance Application presented by the Insured. 6.2. Before making the first or single premium payment provided for under the Policy by the Insured, as well as the first premium payment or first/single insurance premium payment per each following year in case of multi-year policy, the Insurer shall be released from fulfillment of obligations. 6.3. In case of non-payment of the insurance premium on time i.e. by the date specified under the Insurance Policy, the Insurer shall set the additional two-week deadline for the Insured to pay the insurance premium. If after the expiration of the aforementioned deadline the insured event occurs and the payment still has not been performed, the Insurer shall be released from obligation to pay out the insurance indemnification. In addition, in case of non-payment of premium on time on the basis of one month prior written notification upon the ineffectual expiration of the aforementioned deadline the Insurer shall reserve the right to terminate the insurance agreement unilaterally.

Insurance Premium. ‌ 6.1. The amount of the insurance premium to be paid by the Insured to the Insurer for each particular object, sum insured, Insurer’s liability limits, insurance rates and the amount of unconditional deductible shall be determined by relevant individual Insurance Policy on the basis of the data filled in the particular Insurance Application presented by the Insured. 6.2. Before making the first or single premium payment provided for under the Policy by the Insured, as well as the first premium payment or first/single insurance premium payment per each following year in case of multi-year policy, the Insurer shall be released from fulfillment of obligations. 6.3. In case of non-payment of the insurance premium on time i.e. by the date specified under the Insurance Policy, the Insurer shall set the additional two-week deadline for the Insured to pay the insurance premium. If after the expiration of the aforementioned deadline the insured event occurs and the payment still has not been performed, the Insurer shall be released from obligation to pay out the insurance indemnification. In addition, in case of non-non- payment of premium on time on the basis of one month prior written notification upon the ineffectual expiration of the aforementioned deadline the Insurer shall reserve the right to terminate the insurance agreement unilaterally.

Insurance Premium. ‌ 6.1. The amount of the insurance premium to be paid by the Insured to the Insurer for each particular object, sum insured, Insurer’s liability limits, insurance rates and the amount of unconditional deductible shall be determined by relevant individual Insurance Policy on the basis of the data filled in the particular Insurance Application presented by the Insured. 6.2. Before making the first or single premium payment provided for under the Policy by the Insured, as well as the first premium payment or first/single insurance premium payment per each following year in case of multi-year policy, the Insurer shall be released from fulfillment of obligations. 6.3. In case of non-payment of the insurance premium on time i.e. by the date specified under the Insurance Policy, the Insurer shall set the additional two-week deadline for the Insured to pay the insurance premium. If after the expiration of the aforementioned deadline the insured event occurs and the payment still has not been performed, the Insurer shall be released from obligation to pay out the insurance indemnification. In addition, in case of non-payment of premium on time on the basis of one month prior written notification upon the ineffectual expiration of the aforementioned deadline the Insurer shall reserve the right to terminate the insurance agreement unilaterally.unilaterally.‌

Insurance Premium. ‌ 6.1. The amount of the insurance premium to be paid by the Insured to the Insurer for each particular object, sum insured, Insurer’s liability liabil ity limits, insurance rates and the amount of unconditional deductible shall be determined by relevant individual Insurance Policy on the basis of the data filled in the particular Insurance Application presented by the Insured. 6.2. Before making the first or single premium payment provided for under the Policy by the Insured, as well as the first premium payment or first/single insurance premium payment per each following year in case of multi-year policy, the Insurer shall be released from fulfillment of obligations. 6.3. In case of non-payment of the insurance premium on time i.e. by the date specified under the Insurance Policy, the Insurer shall set the additional two-week deadline for the Insured to pay the insurance premium. If after the expiration of the aforementioned deadline the insured insure d event occurs and the payment still has not been performed, the Insurer shall be released from obligation to pay out the insurance indemnification. In addition, in case of non-non- payment of premium on time on the basis of one month prior written notification upon the ineffectual expiration of the aforementioned aforem entioned deadline the Insurer shall reserve the right to terminate the insurance agreement unilaterally.