Common use of War Risks Insurance Clause in Contracts

War Risks Insurance. War Risks Insurance shall be effected on the terms and conditions in force and approved at the time of shipment by the Institute of London Underwriters. Any expense for covering war risks insurance in excess of 1/2% shall be for account of Buyer. The rate of insurance shall not exceed the rate ruling in London at the time of shipment or date of ship's sailing whichever may be adopted by Underwriters. Notice of extra expenses to be borne by Buyer shall be given by Seller at the time of declaration under this contract or not later than 3 business days after the rate has been agreed with Underwriters whichever is the later. Failure to give such notice shall invalidate Seller’s claim unless in the opinion of arbitrators the delay is justifiable.

War Risks Insurance. War Risks Insurance shall be effected on the terms and conditions in force and approved at the time of shipment by the Institute of London Underwriters. Any expense for covering war risks insurance in excess of 1/2% ½% shall be for account of Buyer. The rate of insurance shall not exceed the rate ruling in London at the time of shipment or date of ship's sailing whichever may be adopted by Underwriters. Notice of extra expenses to be borne by Buyer shall be given by Seller at the time of declaration under this contract or not later than 3 business days after the rate has been agreed with Underwriters whichever is the later. Failure to give such notice shall invalidate Seller’s claim unless in the opinion of arbitrators the delay is justifiable.

War Risks Insurance. War Risks Insurance shall be effected on the terms and conditions in force and approved at the time of shipment by the Institute of London Underwriters. Any expense for covering war risks insurance in excess of 1/2% shall be for account of Buyer. The rate of insurance shall not exceed the rate ruling in London at the time of shipment or date of ship's sailing whichever may be adopted by Underwriters. Notice of extra expenses to be borne by Buyer Xxxxx shall be given by Seller Xxxxxx at the time of declaration under this contract or not later than 3 business days after the rate has been agreed with Underwriters whichever is the later. Failure to give such notice shall invalidate Seller’s claim unless in the opinion of arbitrators the delay is justifiable.

War Risks Insurance. War Risks Insurance shall be effected on the terms and conditions in force and approved at the time of shipment by the Institute of London Underwriters. Any expense for covering war risks insurance in excess of 1/2% ½% shall be for account of Buyer. The rate of insurance shall not exceed the rate ruling in London at the time of shipment or date of ship's sailing whichever may be adopted by Underwriters. Notice of extra expenses to be borne by Buyer Xxxxx shall be given by Seller Xxxxxx at the time of declaration under this contract or not later than 3 business days after the rate has been agreed with Underwriters whichever is the later. Failure to give such notice shall invalidate Seller’s claim unless in the opinion of arbitrators the delay is justifiable.