Point in Transit means the place specified in the Schedule.
Point in Transit means the place specified in the Schedule. SPECIFIC EXCLUSIONS APPLICABLE TO SECTION 5 'MONEY IN TRANSITThis Policy does not cover the following unless specially mentioned in the Policy Schedule and expressly insured by the Policy: -1. For the amount of the Deductible/Excess specified in the Policy Schedule ascertained after the application of all other terms and conditions of this Policy.2. Loss of Money in Transit being transported other than as stated in the proposal form or as otherwise agreed in writing by the Company.3. Consequential losses of any kind be they by way of loss of profit, business interruption, market loss or otherwise and any other legal liability of any kind.4. Loss of any Money due to error or omission, unexplained losses.5. Loss due to mysterious disappearances unless specifically covered and mentioned in the Policy Schedule.6. Loss of Money carried by anyone other than the Insured or an Authorised Employee of the Insured.7. Loss of Money where the Insured or his Authorised Employee is or is alleged to be involved as a principal or accessory, except loss due to fraud or dishonesty of the cash carrying employee of the Insured, occurring whilst in transit and discovered within 48 hours.
Examples of Point in Transit in a sentence
Any mode of transportation of Money in the personal custody of the Insured or an Authorised Employee directly between a bank and the Insured Premises or a Point in Transit (if specified) from the time Money is received at the bank or the Insured Premises by the Insured or an Authorised Employee until delivered to the bank or the Insured Premises or a Point in Transit by the Insured or an Authorised Employee within 72 hours of the time of collection.