Common use of Mandatory Policy Term Requirement Clause in Contracts

Mandatory Policy Term Requirement. P&I policies must name the Administration as a joint member under the insurance policy and the insurance policy should include language to the effect of the following: SPECIAL TERMS STATEMENT REGARDING THE COVER PROVIDED TO THE UNITED STATES GOVERNMENT. The P&I Club Underwriters (and its Managers) and/or Insurance Policy Underwriters agree that the terms or conditions of this SPECIAL TERMS STATEMENT shall govern and shall be controlling in the event that there are any inconsistent terms or conditions in the Certificate of Entry, insurance policy or document, applicable P&I Club Rules, or insurance provider’s rules. The United States and State Maritime Academies have full insurance cover and benefits that are equivalent to a regular P&I Club Member, Entrant, or insured (other than voting rights). Underwriters agree to waive any rights of subrogation against the United States Government and State Maritime Academies (USG/SMA) in all cases, regardless of cause. The USG/SMA shall not be liable for (and there shall be no recourse against the United States for) deductibles, premiums, supplementary premiums, additional premiums, calls, additional calls, commissions, advancements, assessments, overspill calls, overspill claims, and other costs, claims, expenses, or fees. It is understood that the entered/covered vessel or vessels do not have Hull & Machinery insurance. It is understood that any disputes between the Underwriters and the United States will be governed by U.S. law, and will be adjudicated in a U.S. Federal Court. The United States has not consented to the arbitration (either domestic or foreign) of any disputes. It is understood that the Underwriters are not granted a lien on the covered/entered vessel(s) under any circumstances. It is understood that the U.S. Department of Justice has the right to fully control the conduct of any litigation or legal action in any forum, including control of litigation decisions and legal representation, wherein the United States, State Maritime Academies, or agency who had or has the custody and control of its training vessels, or other entity of the U. S. Government is a named party or is a proper party defendant under the law (to include without limitation, the Public Vessels Act and any provisions).