AGREEMENT AT THE INSURANCE POLICY SERIES…,No. …
Regarding the insurance of goods during transport on specified period

1. Subject-Matter Insured

1.1. Omniasig SA as „ INSURER “ cover  the goods of … therein named „ ASSURED “, during their transport from … to ….

1.2. The insurance becomes valid at the time the goods leave the warehouse from the forwarding locality.

1.3. The insurance terminates on delivery of the goods to the consigenee‘ s warehouse.

2. Insurance conditions

2.1. The insurance covers the risks in accordance with Institute of Cargo Clauses A, B or C (will be selected the desired condition).

2.2. At the ASSURED express request and against payment of an additional insurance premium this insurance may be extended to cover specific risks of the subject-matter insured (only in condition A) war, strike and warehouse.

3. Exclusions

3.1 In no case this insurance cover :

a) loss, damage or expense caused by :

theft, pilferage and non-delivery (for conditions B and C);

wilful misconduct of the ASSURED;

ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tearof the subject-matter insured;

insufficiency or unsuitability of packing or preparation of the subject matter insured (the term  „ packing “ shall be deemed to include stowage in a container or liftvan but only when such stowage is carried out prior to attachment of this insurance or by the Assured or their servants);

inherent vice or nature of the subject-matter insured;

direct delay, even though the delay be caused by a risk insured against;

loss or fustration of voyage or travel;

insolvency or financial default of the owners, managers, charterers or operators of the transport means;

the use of any weapon of war employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter;

radioactive contamination;

unseaworthiness of vessel ar craft, unfitness of vessel, craft,conveyance container or liftvan for the safe carriage of the subject-matter insured, where the Assured or their servants are privy to such unseaworthiness or unfitness, at the time the subject matter insured is loaded therein;

b) loss, damage or expense caused by :

war, civil war, revolution, rebellion insurection or civil strife arising therefrom or any hostile act by or against a belligerent power;

capture, seizure, arrest, restraint or detainment and the consequences thereof of any attempt thereat;

derelict mines, torpedoes, bombs or other derelict weapons of war;

c) loss or expense caused by :

strikes, locked-out workmen or persons taking part in labour disturbances, riots or civil commotions;

strikes, lock-outs, labour disturbances, riots or civil commotions;

any terrorist or any personacting from a political motive.

4. Duration

4.1. This contract is concluded for 12 months period from … to … both days included and it is automatically renewing for the next 12 months unless cancellation  notice is given by either party within a 30 days period before termination of this insurance.

5. Amount insured

5.1.  The sum insured will be : … (declared by the ASSURED and it is made of  the invoice value of the goods, an additional 10% of  that value to cover unforeseen expenses as well as the cost of transport and other costs related to it, customs fees and expenses as applicable);

6. Insurance premium

6.1.  Insurance is due as follows : …

 7. Obligations of the ASSURED

7.1. The ASSURED is compelled :

a) to communicate to the Insurer before effecting the transport the following data :

amount insured

description of the cargo, number and marks of the packages, weight and nature of packing

manner of shipping and mean of transport

place of loading, transshipment, discharge and destination

date of transport

other data significant for the identification of  the goods and the estimation of the risks

b) to advise without delay any changes occurred against the data comprised in the insurance application.

If  the ASSURED communicated inexact or incomplete data or if  he did not immediately notify the INSURER about the modifications occurred  the INSURER has the right before the recurrence of the insured event to propose to the ASSURED the corresponding modification of the insurance contract or cancel it in case he would haven‘ t sign it had he known the exact circumstances.

After the occurrence of the insured event the Insurer has the right to reduce the due indemnity according to the proportion between the established premium and that which would have been applied knowing the exact circumstances, or to refuse the payment of the indemnity considering the circumstances the contract would have not been signed.

If  the ASSURED was of bad will the INSURER will cancel the contract and refuse the payment of the indemnity.

c) to maintain package and handle the goods in suitable conditions and  according to the normative in force to prevent the occurrence of the insured event;

d) to advise in writing the INSURER of the occurrence  of the insured event as soon as he becomes aware of it;

e) to take all measures, according to the circumstances and normative in force for the limitation  or minimizing of the loss requesting if the situation permits INSURER‘ s advise in case those measures implies additional expenses;

f) to permit and facilitate to INSURER  and his representatives participation to the survey and estimation of the loss and/or damage;

g) to recondition and/or to make to good account the damaged goods in the best possible conditions;

h) to take all measures for the recovery of the indemnities from those liable for the occurrence of the loss and/or damage requesting also the INSURER‘ s advise in the case these measures implies additional expenses and secure the INSURER‘ s right of the recovery against the liable parties;

 i) when requested to facilitate or place at the INSURER‘ s disposition to be checked all acts or documents regarding the insurance of  the goods payment of the insurance premiums causes and extent of loss and/or damage;

j) in case of noncompliance with any of the obligations of the ASSURED, the  INSURER has the right to refuse the payment of the indemnity if that was the reason he could not establish the cause and extent of loss and/or damage increased from  that reason.

8. Survey of loss and/or damage. Indemnity settlement

8.1. The survey and estimation of the loss and/or damage are effected by the INSURER directly or by his representatives, together with the ASSURED or his representatives.

8.2. The survey and estimation of the loss and/or damage could be effected by experts if agreed with the INSURER.

8.3. The establishing and the payment of the indemnities are effected by the INSURER.

8.4. At the same time with the claim for indemnity, the ASSURED must submit the acts/documents necesarry to prove:

he direct interest in the insured cargo (invoice, way bill, AWB or B/L, account);

the right arrising from the insurance contract (the amount of premium)

the occurrence of the loss and/or damage (the survey report of the carrier, the protest against the carrier, and reply to this protest);

the amount claimed as indemnity /the expert‘ s report receipts and proofs regarding the expenses incurred, proceeding concluded by the reception commision);

other acts/documents, to the extent in which these are necessary to establish the rights of indemnity;

8.5. INSURER‘ s liability is limited to the amount insured.

8.6. The indemnity is payd in ROL or in the foreing currency in which the payment of the premium was effected.

8.7. If after the payment of the indemnity the goods lost are found the ASSURED will reimburse the indemnity received. If the ASSURED does not  intend to take over the goods found he will take measures to turn to good account these goods in the best possible conditions.

8.8. The INSURER is subrogated in all the ASSURED‘ s rights against the parties liable for the loss and/or damage in the limit of the indemnity paid.

8.9. The INSURER will not exercise his right of recovery against the ASSURED‘s servants unless in case of willfully commiting penal facts of an unusual gravity.

8.10. At payment of indemnity the ASSURED shall give to the INSURER all documents and proofs and fulfill all formalities necesarry for the INSURER to exercise the right of recovery.

 8.11. If the right of recovery could not be exercised due to the ASSURED‘ s fault, the INSURER is released- to the extent of that prejudice –from his liability of indemnity payment and in case this payment was already effected, the ASSURED  the ASSURED is liable to reimburse the indemnity received to INSURER.

8.12. If the ASSURED received an indemnity from third parties, the insurere will pay only the difference from the amount due and the amount received by INSURED from the third parties.

9.  Final stipulations

9.1. The present policy is in force for the period from …… to …… inclusive, and it is automatically renewed for each next year unless cancelation notice in given by either party with a 30 days before the end of the year.

9.2. The parties may effect modifications at the present insurance policy by joint agreement any time during its validity, the respective modifications  starting to be valid from the date of the written agreement.

9.3. The right to claim indemnity under the insurance policy is subject to a two  years time – bar term from the date of the occurece of the insured event causing the damage and/or loss.

9.4. The present insurance policy is subject to the romanian laws and practice.

9.5. Any litigation in connection with the application of the present insurance policy is solved by a competent legal courts or by the Arbitration Commission of the Romanian Chamber of Commerce and Industry.

9.6. The present insurance policy is issued in duplicate, a copy for each signatory.

Insurer                                                       Assured