Common use of Non-Payment of Premium Clause in Contracts

Non-Payment of Premium. 7.1 You agree to pay all premiums and other charges on or before the due date as set out in our invoice or debit note or any evidence of cover, as applicable. 7.2 Should you or your agents fail to pay the premium or any instalment of it in full with cleared funds in the invoiced currency by the due date, the insurance contract may be cancelled by us or by insurers in accordance with any cancellation clause in the policy. 7.3 We will advise you if insurers have imposed a premium payment warranty or condition. 7.4 Where insurers have specified a premium payment warranty, they must receive the premium due by that date. If you do not think you will be able to comply with the premium warranty please contact us immediately. 7.5 Where applicable, any other party with an interest in the insurance contract will be advised of any non- payment of premium and given the opportunity to pay the outstanding amounts.

Appears in 1 contract

Samples: Terms of Business Agreement

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Non-Payment of Premium. 7.1 7.1. You agree to pay all premiums and other charges on or before the due date as set out in our invoice or debit note or any evidence of cover, as applicable. 7.2 7.2. Should you or your agents fail to pay the premium or any instalment of it in full with cleared funds in the invoiced currency by the due date, the insurance contract may be cancelled by us or by insurers in accordance with any cancellation clause in the policy. 7.3 7.3. We will advise you if insurers have imposed a premium payment warranty or condition. 7.4 . Where insurers have specified a premium payment warranty, they must receive the premium due by that date. If you do not think you will be able to comply with the premium warranty please contact us immediately. 7.5 7.4. Where applicable, any other party with an interest in the insurance contract will be advised of any non- non-payment of premium and given the opportunity to pay the outstanding amounts.

Appears in 1 contract

Samples: Terms of Business Agreement

Non-Payment of Premium. 7.1 7.1. You agree to pay all premiums and other charges on or before the due date as set out in our invoice or debit note or any evidence of cover, as applicable. 7.2 7.2. Should you or your agents fail to pay the premium or any instalment of it in full with cleared funds in the invoiced currency by the due date, the insurance contract may be cancelled by us or by insurers in accordance with any cancellation clause in the policy. 7.3 7.3. We will advise you if insurers have imposed a premium payment warranty or condition. 7.4 7.4. Where insurers have specified a premium payment warranty, they must receive the premium due by that date. If you do not think you will be able to comply with the premium warranty please contact us immediately. 7.5 7.5. Where applicable, any other party with an interest in the insurance contract will be advised of any non- payment of premium and given the opportunity to pay the outstanding amounts.

Appears in 1 contract

Samples: Terms of Business Agreement

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Non-Payment of Premium. 7.1 8.1 You agree to pay all premiums and other charges on or before the due date as set out in our invoice or debit note or any evidence of covernote, as applicable. 7.2 8.2 Should you or your agents client’s fail to pay the premium or any instalment of it in full with cleared funds in the invoiced currency by the due date, the insurance contract may be cancelled by us or by insurers in accordance with any cancellation clause in the policy. 7.3 8.3 We will advise you if insurers have imposed a premium payment warranty or condition. 7.4 . Where insurers have specified a premium payment warranty, they must receive the premium due by that date. If you do not think you will be able to comply with the premium warranty warranty, please contact us immediately. 7.5 8.4 Where applicableapplicable and where the relevant details have been passed to us, any other party with an interest in the insurance contract will be advised of any non- non-payment of premium and given the opportunity to pay the outstanding amounts.

Appears in 1 contract

Samples: Terms of Business Agreement

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