Common use of Payment of the premium Clause in Contracts

Payment of the premium. 11.1 We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer or be in receipt of a completed premium instalment application form (with deposit where requested) drawn on a bank, building society or other UK financial institution account in the policyholder’s name and before cover commences unless we agree otherwise. A charge may apply to payments made by credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us. 11.2 We have no obligation to fund any premium, taxes or fees (if applicable) on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 We shall be entitled (but not obliged) without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 3 contracts

Samples: Terms of Business Agreement, Terms of Business Agreement, Terms of Business Agreement

AutoNDA by SimpleDocs

Payment of the premium. 11.1 11.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer or be in receipt of a completed premium instalment application form (with deposit where requested) drawn on a bank, building society or other UK financial institution account in the policyholder’s 's name and before cover commences unless we agree otherwise. A charge may apply to payments made by credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder policy holder then this must be notified to us and agreed by us. 11.2 11.2. We have no obligation to fund any premium, taxes or fees (if applicable) on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 11.3. We shall be entitled (but not obliged) without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 3 contracts

Samples: Terms of Business Agreement, Terms of Business Agreement, Terms of Business Agreement

Payment of the premium. 11.1 7.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer or be in receipt of a completed premium instalment application form (with deposit where requested) ), drawn on a bank, building society or other UK financial institution account account, in the policyholder’s name and before cover commences unless we agree otherwise. A charge may apply to payments made by business or corporate credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us. 11.2 7.2. We have no obligation to fund any premium, taxes or fees (if applicable) ), on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover cover, or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 7.3. We shall be entitled (but not obliged) ), without providing notice to you you, to set off any amounts due to us from you, you against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 1 contract

Samples: Terms of Business Agreement

Payment of the premium. 11.1 7.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer transfer, or be in receipt of a completed premium instalment application form (with deposit where requested) ), drawn on a bank, building society or other UK financial institution account account, in the policyholder’s name and before cover commences unless we agree otherwise. A charge may apply to payments made by business or corporate credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us. 11.2 7.2. We have no obligation to fund any premium, taxes or fees (if applicable) ), on your behalf behalf, nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover cover, or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 7.3. We shall be entitled (but not obliged) ), without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 1 contract

Samples: Terms of Business Agreement

Payment of the premium. 11.1 7.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer or be in receipt of a completed premium instalment application form (with deposit where requested) ), drawn on a bank, building society or other UK financial institution account account, in the policyholder’s name and before cover commences unless we agree otherwise. A charge may apply to payments made by a business or corporate credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us. 11.2 7.2. We have no obligation to fund any premium, taxes or fees (if applicable) ), on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover cover, or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 7.3. We shall be entitled (but not obliged) ), without providing notice to you you, to set off any amounts due to us from you, you against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 1 contract

Samples: Terms of Business Agreement

AutoNDA by SimpleDocs

Payment of the premium. 11.1 7.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer transfer, or be in receipt of a completed premium instalment application form (with deposit where requested) ), drawn on a bank, building society or other UK financial institution account account, in the policyholder’s name and before cover commences unless we agree otherwise. A charge may apply to payments made by a business or corporate credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us. 11.2 7.2. We have no obligation to fund any premium, taxes or fees (if applicable) ), on your behalf behalf, nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover cover, or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 7.3. We shall be entitled (but not obliged) ), without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 1 contract

Samples: Terms of Business Agreement

Payment of the premium. 11.1 7.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer or be in receipt of a completed premium instalment application form (with deposit where requested) ), drawn on a bank, building society or other UK financial institution account account, in the policyholder’s name and before cover commences unless we agree otherwise. A charge may apply to payments made by credit card when using a corporate or business card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us. 11.2 7.2. We have no obligation to fund any premium, taxes or fees (if applicable) ), on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover cover, or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law. 11.3 7.3. We shall be entitled (but not obliged) ), without providing notice to you you, to set off any amounts due to us from you, you against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non- non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

Appears in 1 contract

Samples: Terms of Business Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!