Examples of Institute Warranty Limits in a sentence
Such place of operations shall always be within Institute Warranty Limits which will not be exceeded without the prior written approval of the Owners and any 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 necessary adjustment to the rate of hire.
World-wide trading always afloat, always within British Institute Warranty Limits, as may be revised from time to time, or within the limits applying in Owners’ insurances in effect from time to time, however excluding any war zones, embargoed countries and any other areas to which restrictions may be imposed by the United Nations or the flag state.
TCL shall, with the consent of the Participants, have liberty to break the Institute Warranty Limits, but in this case shall ensure that any additional insurance is arranged for any applicable voyages and/or any additional insurance premiums are paid.
TCL shall be entitled to fix the Tankers worldwide within Institute Warranty Limits.
Subject to Clause 12.2, the Vessel shall be permitted to operate between any of the Primary Terminals and any other port in the world as Charterer shall direct within Institute Warranty Limits, as amended from time to time (and Charterer shall reimburse Owner in accordance with Clause 34 in relation to any additional insurance premiums, crew bonuses and other expenses incurred by Owner where the Vessel is ordered to trade in areas where there is war (de facto or de jure) or threat of war).
Trading always within Institute Warranty Limits, but Charterers have the option to trade beyond Institute Warranty Limits subject to Owner’s and their Underwriter’s prior consent, against paying to Owners additional insurance premium (if any) on hull and machinery as per vouchers from vessel’s Underwriters, but such additional premium not to exceed the amount charged if vessel had been insured by Lloyd’s of London.
Subject to Clause 12.2, the Vessel shall be permitted to operate between any of the Primary Terminals and any other port in the world as Customer shall direct within Institute Warranty Limits, as amended from time to time (and Customer shall reimburse Contractor in accordance with Clause 26.3 in relation to any additional insurance premiums, crew bonuses and other expenses incurred by Contractor where the Vessel is ordered to trade in areas where there is a war (defacto or de jure) or threat of war).
Such place of operations shall 57 always be within Institute Warranty Limits 58 which will not be exceeded without the prior 59 written approval of the Owners and any 60 necessary adjustment to the rate of hire.
Although the owners did not bring the safe port argument they insisted that trading within Institute Warranty Limits does not carry an assumption by the shipowners of all risks of ordinary incident at each port within those limits.
I am sceptical about the analogy between a named port or range and an area as wide as that arrived at by paying an extra premium to open the Institute Warranty Limits.