final policy wordings_ear voltas ltd september.doc

7/25/2019 Final Policy Wordings_EAR Voltas Ltd September.doc

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New India Assurance Co. LtdD.O. No 121000, New India Centre, 4thFloor, 17A, Coo!era"e #oad,

$u%&ai 400001

SCHEDULE FOR THE RISK COVEREDSCHEDULE FOR THE RISK COVERED

'olic( No'olic( No

Na%e ) Address o* theNa%e ) Address o* the

InsuredInsured

+oltas Li%ited+oltas Li%ited

Voltas House B, 1st Floor,Dr. Babasaheb AmbedkarVoltas House B, 1st Floor,Dr. Babasaheb Ambedkar

RoadRoad

Chinchpokli (E, !umbai"#$$$%%Chinchpokli (E, !umbai"#$$$%%

ite o* -rectionite o* -rection

'eriod o* Insurance'eriod o* Insurance

120/201 O 110/201120/201 O 110/201

&ncludin' estin' )eriod o* 1 months plus 1+ months&ncludin' estin' )eriod o* 1 months plus 1+ months

Etended !aintenance Co-er (Etended !aintenance Co-er (120/201 O120/201 O110/20173110/20173

'roect 'eriod'roect 'eriod 120/201 O 110/201120/201 O 110/201

he co-er commences *rom the date o* inception o* polic or the arri-al o* the /rsthe co-er commences *rom the date o* inception o* polic or the arri-al o* the /rst

consi'nment or despatch at the site o* erection, 0hiche-er later and remains inconsi'nment or despatch at the site o* erection, 0hiche-er later and remains in

*orce *or the period as mentioned abo-e or completion o* erection includin' testin'*orce *or the period as mentioned abo-e or completion o* erection includin' testin'

period not eceedin' 1 months, 0hiche-er is earlier.period not eceedin' 1 months, 0hiche-er is earlier.

ANY DAMAGE WHICH HAS TAKEN PLACE PRIOR TO COMMENCEMENT OFANY DAMAGE WHICH HAS TAKEN PLACE PRIOR TO COMMENCEMENT OF

THE INSURANCE IS NOT COVERED UNDER THE POLICY.THE INSURANCE IS NOT COVERED UNDER THE POLICY.

Nature o* 'roectNature o* 'roect

IC o* 5+AC wor6s ) includin" A5, ChilledIC o* 5+AC wor6s ) includin" A5, Chilled

8ater 'i!in", Ductin" And Insulation $aterial,8ater 'i!in", Ductin" And Insulation $aterial,

-tc, 5eatin" and 9entilation o* Air conditionin"-tc, 5eatin" and 9entilation o* Air conditionin"

) Fire Fi"htin" u!!l( installation testin") Fire Fi"htin" u!!l( installation testin"

co%%issionin" o* 5+AC ) Fire Fi"htin" s(ste%sco%%issionin" o* 5+AC ) Fire Fi"htin" s(ste%s

and Air conditionin" wor6sand Air conditionin" wor6s

Interest Co9eredInterest Co9ered 'rinci!le Contractors u& Contractors'rinci!le Contractors u& Contractors

:an6er;s Interest:an6er;s Interest NANA

're%iu%'re%iu% IN#


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SCHEDULE FOR ERECTION ALL RISKS POLICYSCHEDULE FOR ERECTION ALL RISKS POLICY

SECTION I - MATERIAL DAMAGESECTION I - MATERIAL DAMAGE

ParticularParticular Su! I"ur#$ %i" INR&Su! I"ur#$ %i" INR&3n landed cost o* imported machineries3n landed cost o* imported machineries

includin' Cost o* Erection, *rei'ht, custom dutiesincludin' Cost o* Erection, *rei'ht, custom duties

4 all other taes.4 all other taes.


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$u%&ai 400001

Etended !aintenance Co-erEtended !aintenance Co-er 1+ !onths1+ !onths

Desi'n De*ect Co-erDesi'n De*ect Co-er DE"% 4 DE#DE"% 4 DE#

Additional Custom DutiesAdditional Custom DutiesCo-ered beond &RCo-ered beond &R1$,$$,$$,$$$="Crore1$,$$,$$,$$$="Crore

@$=@$ Clause@$=@$ Clause Co-eredCo-ered

+ hours Clause+ hours Clause Co-eredCo-ered

5oss !inimiation Epenses Co-er5oss !inimiation Epenses Co-er Co-eredCo-ered

)ro*essional Fees Co-er)ro*essional Fees Co-er Co-eredCo-ered

7ai-er o* Contribution Clause7ai-er o* Contribution Clause Co-eredCo-ered

Epeditin' Cost includin' Air Frei'ht andEpeditin' Cost includin' Air Frei'ht andEpress Frei'htEpress Frei'ht

9p to %$? o* the net Claim9p to %$? o* the net ClaimAmountAmount

Amendment in Fire Fi'htin' EndorsementAmendment in Fire Fi'htin' Endorsement7ordin's7ordin's Co-eredCo-ered

Add 8F&Add 8F& Co-ered *or Full 8um &nsuredCo-ered *or Full 8um &nsured

Add EarthuakeAdd Earthuake Co-ered *or Full 8um &nsuredCo-ered *or Full 8um &nsured

E+CESS FOR SECTION I AND II FOR EACH AND EVERY CLAIM.E+CESS FOR SECTION I AND II FOR EACH AND EVERY CLAIM.

Nor%al -=cess *or stora"e andNor%al -=cess *or stora"e and-rection clai%s-rection clai%s

> o* the clai% a%ount su&ect to> o* the clai% a%ount su&ect to%ini%u% o* IN# 0,000 e.e.l.%ini%u% o* IN# 0,000 e.e.l.

estin" clai%sAO? 'eril clai%s%aorestin" clai%sAO? 'eril clai%s%aor'erils$aintenance 'eriod.'erils$aintenance 'eriod.

@? o* the claim amount subect to@? o* the claim amount subect tominimum o* &R 1,@$,$$$=" e.e.l.minimum o* &R 1,@$,$$$=" e.e.l.

-=cess A!!lica&le *or AO? Clai%s-=cess A!!lica&le *or AO? Clai%s1$? o* Claim amount subect to1$? o* Claim amount subect to!inimum o* &R @,$$,$$,$$$=" e.e.l.!inimum o* &R @,$$,$$,$$$=" e.e.l.

-=cess *or Desi"n De*ect Clai%s-=cess *or Desi"n De*ect Clai%s @ times estin' period Ecess.@ times estin' period Ecess.

)olic o. )a'e 2 %


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errorism peril claims Ecess shall be as

perEcess shall be as per errorism )ool

)lace !umbai)lace !umbai Date 1+Date 1+thth8eptember8eptember

+$1@+$1@

For 4 on behal* o*For 4 on behal* o*

he New India Assurance Co. Ltd.he New India Assurance Co. Ltd.

Authorised i"nator(Authorised i"nator(

STORAGE CUM ERECTION INSURANCE POLICYSTORAGE CUM ERECTION INSURANCE POLICY

)olic o. )a'e 2 #


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7HEREA8 the insured named in the 8chedule hereto had made to he e0 &ndia7HEREA8 the insured named in the 8chedule hereto had made to he e0 &ndia

Assurance Co. 5td. (hereina*ter called the CompanG a 0ritten proposal bAssurance Co. 5td. (hereina*ter called the CompanG a 0ritten proposal b

completin' a )roposal Form 0hich to'ether 0ith an other statements made in 0ritin'completin' a )roposal Form 0hich to'ether 0ith an other statements made in 0ritin'

b the insured *or the purpose o* this )olic, is deemed to be incorporated herein.b the insured *or the purpose o* this )olic, is deemed to be incorporated herein.

37 H&8 )35&C 3F &89RACE 7&E88EH37 H&8 )35&C 3F &89RACE 7&E88EH

that subect to and in consideration o* the &nsured ha-in' paid to the Compan, thethat subect to and in consideration o* the &nsured ha-in' paid to the Compan, the

premium mentioned in the said 8chedule and subect to the terms, eclusions,premium mentioned in the said 8chedule and subect to the terms, eclusions,

pro-isions and conditions contained herein or endorsed here on the compan 0illpro-isions and conditions contained herein or endorsed here on the compan 0ill

indemni* the &nsured a'ainst sudden and un*oreseen phsical loss o* or dama'e toindemni* the &nsured a'ainst sudden and un*oreseen phsical loss o* or dama'e to

the propert insured in the manner and to the etent hereina*ter pro-ided.the propert insured in the manner and to the etent hereina*ter pro-ided.

?-N-#AL -@CLION ?-N-#AL -@CLION

he Compan 0ill not indemni* the &nsured in respect o* loss, dama'e or liabilithe Compan 0ill not indemni* the &nsured in respect o* loss, dama'e or liabilit

directl or indirectl caused b or arisin' out o* or a''ra-ated b Idirectl or indirectl caused b or arisin' out o* or a''ra-ated b I

aa 7ar, in-asion, act o* *orei'n enem, hostilities or 0ar like operations (0hether7ar, in-asion, act o* *orei'n enem, hostilities or 0ar like operations (0hether

0ar be declared or not, ci-il 0ar, rebellion, re-olution, insurrection, mutin,0ar be declared or not, ci-il 0ar, rebellion, re-olution, insurrection, mutin,

ci-il commotion, militar or usurped po0er, martial la0, conspirac,ci-il commotion, militar or usurped po0er, martial la0, conspirac,

con/scation, commandeerin' a 'roup o* malicious persons or persons actin' oncon/scation, commandeerin' a 'roup o* malicious persons or persons actin' on

behal* o* or in connection 0ith an political or'aniation, reuisition orbehal* o* or in connection 0ith an political or'aniation, reuisition or

destruction or dama'e b order o* an 'o-ernment deure or de *acto or b andestruction or dama'e b order o* an 'o-ernment deure or de *acto or b anpublic, municipal or local authorit.public, municipal or local authorit.bb uclear reaction, nuclear radiation or radioacti-e contamination.uclear reaction, nuclear radiation or radioacti-e contamination.cc 7ill*ul act or 0ill*ul ne'li'ence o* the &nsured or o* his responsible7ill*ul act or 0ill*ul ne'li'ence o* the &nsured or o* his responsible

representati-erepresentati-edd Cessation o* 0ork 0hether total or partial.Cessation o* 0ork 0hether total or partial.

&n an action, suit or other proceedin's 0here the compan alle'e that b reason o*&n an action, suit or other proceedin's 0here the compan alle'e that b reason o*

the pro-isions o* Eclusion (a abo-e an loss, destruction, dama'e or liabilit is notthe pro-isions o* Eclusion (a abo-e an loss, destruction, dama'e or liabilit is not

co-ered b this insurance, the burden o* pro-in' that such loss, destruction, dama'eco-ered b this insurance, the burden o* pro-in' that such loss, destruction, dama'e

or liabilit is co-ered shall be upon the &nsured.or liabilit is co-ered shall be upon the &nsured.

'-#IOD OF CO+-# '-#IOD OF CO+-#

he liabilit o* the Compan shall commence, (not0ithstandin' an date to thehe liabilit o* the Compan shall commence, (not0ithstandin' an date to the

contrar speci/ed in the 8chedule onl *rom the time a*ter the unloadin' o* thecontrar speci/ed in the 8chedule onl *rom the time a*ter the unloadin' o* the

propert speci/ed in the 8chedule *rom an con-eance at the site speci/ed in thepropert speci/ed in the 8chedule *rom an con-eance at the site speci/ed in the

schedule and shall continue until immediatel a*ter the /rst test operation or testschedule and shall continue until immediatel a*ter the /rst test operation or test

loadin' is concluded (0hiche-er is earlier but in no case beond hree !onths *romloadin' is concluded (0hiche-er is earlier but in no case beond hree !onths *rom

the da on 0hich a*ter completion o* erection a trial runnin' is made and=or readinessthe da on 0hich a*ter completion o* erection a trial runnin' is made and=or readiness

*or 0ork is declared b the erectors=contractors, 0hiche-er is earlier. &* ho0e-er, a*or 0ork is declared b the erectors=contractors, 0hiche-er is earlier. &* ho0e-er, a

part o* a plant or one or se-eral machine(s is=are tested and put into operation thepart o* a plant or one or se-eral machine(s is=are tested and put into operation the

co-er and conseuentl the liabilit o* the Compan *or that particular part o* theco-er and conseuentl the liabilit o* the Compan *or that particular part o* theplant or machine ceases 0hereas it continues *or the remainin' parts 0hich are notplant or machine ceases 0hereas it continues *or the remainin' parts 0hich are not

et read.et read.

)olic o. )a'e 2 @


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$u%&ai 400001

&n case a*ter the epir o* *our 0eeks o* trial runnin', appro-al o* the plant or an part&n case a*ter the epir o* *our 0eeks o* trial runnin', appro-al o* the plant or an part

thereo* is not 'i-en b the concerned Authorities the co-er *or the etended period o*thereo* is not 'i-en b the concerned Authorities the co-er *or the etended period o*

*urther trial runnin' can be co-ered at etra premium to be arran'ed be*orehand.*urther trial runnin' can be co-ered at etra premium to be arran'ed be*orehand.

&* the actual erection period is shorter than the period indicated in the 8chedule, no&* the actual erection period is shorter than the period indicated in the 8chedule, no

re*und o* premium shall be allo0ed, unless speci/call allo0ed b &nsurers.re*und o* premium shall be allo0ed, unless speci/call allo0ed b &nsurers.

&n the case o* second"hand=used propert, the insurance hereunder shall ho0e-er,&n the case o* second"hand=used propert, the insurance hereunder shall ho0e-er,

cease immediatel on the commencement o* the testin'.cease immediatel on the commencement o* the testin'.

At the latest, the insurance shall epire on the date speci/ed in the 8chedule but i* theAt the latest, the insurance shall epire on the date speci/ed in the 8chedule but i* the

0ork o* erection and test operations included in the insurance is not completed 0ithin0ork o* erection and test operations included in the insurance is not completed 0ithin

the time speci/ed hereunder, the compan ma etend the period o* &nsurance butthe time speci/ed hereunder, the compan ma etend the period o* &nsurance but

the &nsured shall pa to the Compan additional premium at a'reed rates.the &nsured shall pa to the Compan additional premium at a'reed rates.

?-N-#AL CONDIION ?-N-#AL CONDIION

1.1. he due obser-ance and *ul/llment o* the terms o* this )olic in so *ar as thehe due obser-ance and *ul/llment o* the terms o* this )olic in so *ar as the

relate to anthin' to be done or complied 0ith b the &nsured and the truth o*relate to anthin' to be done or complied 0ith b the &nsured and the truth o*

the statements and ans0ers in the uestionnaire and proposal made b thethe statements and ans0ers in the uestionnaire and proposal made b the

&nsured shall be a condition precedent to an liabilit o* the compan.&nsured shall be a condition precedent to an liabilit o* the compan.

+.+. he 8chedule and the 8ection(s shall be deemed to be incorporated in andhe 8chedule and the 8ection(s shall be deemed to be incorporated in and

*orm part o* this polic and the epression this )olicG 0here-er used in this*orm part o* this polic and the epression this )olicG 0here-er used in this

contract shall be read as includin' the 8chedule and the 8ection(s. An 0ord orcontract shall be read as includin' the 8chedule and the 8ection(s. An 0ord or

epression to 0hich a speci/c meanin' has been attached in an part o* thisepression to 0hich a speci/c meanin' has been attached in an part o* this

)olic or o* the 8chedule or o* the 8ection(s shall bear such meanin')olic or o* the 8chedule or o* the 8ection(s shall bear such meanin'

0here-er it ma appear.0here-er it ma appear.

%.%. he &nsured shall at his o0n epense take all reasonable precautions andhe &nsured shall at his o0n epense take all reasonable precautions and

compl 0ith all reasonable recommendations o* the Compan to pre-ent loss,compl 0ith all reasonable recommendations o* the Compan to pre-ent loss,

dama'e or liabilit and compl 0ith statutor reuirements and manu*acturers;dama'e or liabilit and compl 0ith statutor reuirements and manu*acturers;

recommendations.recommendations.

#.#. aa Representati-es o* the Compan shall at an reasonable time ha-e the ri'htRepresentati-es o* the Compan shall at an reasonable time ha-e the ri'ht

to inspect and eamine the risk and the &nsured shall pro-ide theto inspect and eamine the risk and the &nsured shall pro-ide the

representati-es o* the compan 0ith all details and in*ormation necessarrepresentati-es o* the compan 0ith all details and in*ormation necessar

*or the assessment o* the risk.*or the assessment o* the risk.bb he &nsured shall immediatel noti* the Compan b tele'ram and in 0ritin'he &nsured shall immediatel noti* the Compan b tele'ram and in 0ritin'

o* an material chan'e in the risk and cause at his o0n epense sucho* an material chan'e in the risk and cause at his o0n epense such

additional precautions to be taken as circumstances ma reuire and theadditional precautions to be taken as circumstances ma reuire and the

scope o* co-er and=or premium shall, i* necessar be adusted accordin'l.scope o* co-er and=or premium shall, i* necessar be adusted accordin'l.

o material alteration shall be made or admitted b the &nsured 0hereb theo material alteration shall be made or admitted b the &nsured 0hereb the

risk is increased unless the continuance o* the &nsurance is con/rmed in 0ritin'risk is increased unless the continuance o* the &nsurance is con/rmed in 0ritin'b the Compan.b the Compan.

)olic o. )a'e 2 J


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$u%&ai 400001

@.@. &n the e-ent o* an occurrence, 0hich mi'ht 'i-e rise to a claim under this&n the e-ent o* an occurrence, 0hich mi'ht 'i-e rise to a claim under this

)olic, the &nsured shall ")olic, the &nsured shall "aa &mmediatel noti* the Compan b telephone or tele'ram as 0ell as in&mmediatel noti* the Compan b telephone or tele'ram as 0ell as in

0ritin' 'i-in' an indication as to the nature and etent o* loss or dama'e.0ritin' 'i-in' an indication as to the nature and etent o* loss or dama'e.bb ake all steps 0ithin his po0er to minimie the etent o* the loss or dama'eake all steps 0ithin his po0er to minimie the etent o* the loss or dama'ecc )reser-e the parts a>ected and make them a-ailable *or inspection b a)reser-e the parts a>ected and make them a-ailable *or inspection b a

representati-e o* the compan or sur-eor deputed b the Compan.representati-e o* the compan or sur-eor deputed b the Compan.dd Furnish all such in*ormation and documentar e-idence as the compan maFurnish all such in*ormation and documentar e-idence as the compan ma

reuire.reuire.ee &n*orm the police authorities in case o* loss or dama'e due to the*t or&n*orm the police authorities in case o* loss or dama'e due to the*t or

bur'lar.bur'lar.

he Compan shall not in an case be liable *or loss, dama'e or liabilit o*he Compan shall not in an case be liable *or loss, dama'e or liabilit o*

0hich no notice has been recei-ed b the compan 0ithin %$ das o* its0hich no notice has been recei-ed b the compan 0ithin %$ das o* itsdetection.detection.

9pon noti/cation bein' 'i-en to the Compan under this condition, the &nsured9pon noti/cation bein' 'i-en to the Compan under this condition, the &nsured

ma carr out the repair or replacement o* an minor dama'e not eceedin'ma carr out the repair or replacement o* an minor dama'e not eceedin'

&R 1$$ 5acs all other cases a representati-e o* the compan shall ha-e the&R 1$$ 5acs all other cases a representati-e o* the compan shall ha-e the

opportunit o* inspectin' the loss or dama'e be*ore an repairs or alterationsopportunit o* inspectin' the loss or dama'e be*ore an repairs or alterations

are a>ected. &* a representati-e o* the compan does not carr out theare a>ected. &* a representati-e o* the compan does not carr out the

inspection 0ithin a period o* time 0hich could be considered as adeuate underinspection 0ithin a period o* time 0hich could be considered as adeuate under

the circumstances the &nsured is entitled to proceed 0ith the repairs orthe circumstances the &nsured is entitled to proceed 0ith the repairs or

replacement.replacement.

he liabilit o* the Compan under this )olic in respect o* an item sustainin'he liabilit o* the Compan under this )olic in respect o* an item sustainin'

dama'e shall cease i* said item is not repaired properl 0ithout dela.dama'e shall cease i* said item is not repaired properl 0ithout dela.

J.J. he &nsured shall at the epense o* the Compan do and concur in doin' andhe &nsured shall at the epense o* the Compan do and concur in doin' and

permit to be done all such acts and thin's as ma be necessar or reuired bpermit to be done all such acts and thin's as ma be necessar or reuired b

the Compan in the interest o* an ri'hts or remedies, or o* obtainin' relie* orthe Compan in the interest o* an ri'hts or remedies, or o* obtainin' relie* or

indemnit *rom parties (other than those insured under this )olic to 0hich theindemnit *rom parties (other than those insured under this )olic to 0hich the

compan shall be or 0ould become entitled or subro'ated upon their pain' *orcompan shall be or 0ould become entitled or subro'ated upon their pain' *or

or makin' 'ood an loss or dama'e under this )olic, 0hether such acts andor makin' 'ood an loss or dama'e under this )olic, 0hether such acts and

thin's shall be or become necessar or reuired be*ore or a*ter the &nsured;sthin's shall be or become necessar or reuired be*ore or a*ter the &nsured;s

indemni/cation b the compan.indemni/cation b the compan.

A.A. &* an dispute or di>erence shall arise as to the uantum to be paid under this&* an dispute or di>erence shall arise as to the uantum to be paid under this

)olic (liabilit bein' other0ise admitted such di>erence shall independentl o*)olic (liabilit bein' other0ise admitted such di>erence shall independentl o*

all other uestions be re*erred to the decision o* a sole arbitrator, to beall other uestions be re*erred to the decision o* a sole arbitrator, to be

appointed in 0ritin' b the parties to or, i* the cannot a'ree upon a sin'leappointed in 0ritin' b the parties to or, i* the cannot a'ree upon a sin'le

arbitrator 0ithin %$ das o* an part in-okin' Arbitration, the same shall bearbitrator 0ithin %$ das o* an part in-okin' Arbitration, the same shall be

re*erred to a panel o* three Arbitrators comprisin' o* t0o Arbitrators " one to bere*erred to a panel o* three Arbitrators comprisin' o* t0o Arbitrators " one to be

appointed b each o* the parties to the dispute=di>erence, and the thirdappointed b each o* the parties to the dispute=di>erence, and the third

Arbitrator to be appointed b such t0o Arbitrators and arbitration shall beArbitrator to be appointed b such t0o Arbitrators and arbitration shall be

conducted under and in accordance 0ith the pro-isions o* the Arbitration andconducted under and in accordance 0ith the pro-isions o* the Arbitration andConciliation Act 1KKJ.Conciliation Act 1KKJ.

)olic o. )a'e 2


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$u%&ai 400001

&t is clearl a'reed and understood that no di>erence or dispute shall be&t is clearl a'reed and understood that no di>erence or dispute shall be

pre*erable to arbitration as hereinbe*ore pro-ided, i* the Compan has disputedpre*erable to arbitration as hereinbe*ore pro-ided, i* the Compan has disputed

or not accepted liabilit under or in respect o* this )olic.or not accepted liabilit under or in respect o* this )olic.&t is hereb epressl stipulated and declared that it shall be a condition&t is hereb epressl stipulated and declared that it shall be a condition

precedent to an ri'ht o* action or suit upon this )olic that the a0ard b suchprecedent to an ri'ht o* action or suit upon this )olic that the a0ard b such

Arbitrator=Arbitrators o* the amount o* the loss or dama'e shall be /rstArbitrator=Arbitrators o* the amount o* the loss or dama'e shall be /rst

obtained.obtained.L.L. &* a claim is in an respect *raudulent, or i* an *alse declaration is made or used&* a claim is in an respect *raudulent, or i* an *alse declaration is made or used

in support thereo*, or i* an *raudulent means or de-ices are used b thein support thereo*, or i* an *raudulent means or de-ices are used b the

&nsured or anone actin' on his behal* to obtain an bene/t under this )olic, or&nsured or anone actin' on his behal* to obtain an bene/t under this )olic, or

i* a claim is made and reected and no action or suit is commenced 0ithin threei* a claim is made and reected and no action or suit is commenced 0ithin three

months a*ter such reection or, in case o* arbitration takin' place as pro-idedmonths a*ter such reection or, in case o* arbitration takin' place as pro-ided

therein, 0ithin three months a*ter the Arbitrator or Arbitrators or 9mpire ha-etherein, 0ithin three months a*ter the Arbitrator or Arbitrators or 9mpire ha-emade their a0ard, all bene/t under this )olic shall be *or*eited.made their a0ard, all bene/t under this )olic shall be *or*eited.

K.K. &* at the time an claim arises under this )olic there be an other insurance&* at the time an claim arises under this )olic there be an other insurance

co-erin' the same loss, dama'e or liabilit the compan shall not be liable toco-erin' the same loss, dama'e or liabilit the compan shall not be liable to

pa or contribute more than their rateable proportion o* an claim *or such loss,pa or contribute more than their rateable proportion o* an claim *or such loss,

dama'e or liabilit.dama'e or liabilit.

1$.1$. his insurance ma be terminated at the reuest o* the &nsured at an time inhis insurance ma be terminated at the reuest o* the &nsured at an time in

0hich case the &nsurers 0ill re*und appropriate premium amount subect to the0hich case the &nsurers 0ill re*und appropriate premium amount subect to the

*ollo0in' conditions*ollo0in' conditionsaa Claims eperience under the polic as on date o* cancellation should be lessClaims eperience under the polic as on date o* cancellation should be less

than J$ ? o* re0orked premium.than J$ ? o* re0orked premium.bb he unepired period is not less than % months or +@? o* the polic period,he unepired period is not less than % months or +@? o* the polic period,

0hiche-er is less0hiche-er is lesscc estin' period should not ha-e commenced.estin' period should not ha-e commenced.

his insurance ma also at an time be terminated at the option o* the &nsurerhis insurance ma also at an time be terminated at the option o* the &nsurer

b 1@ das notice to that e>ect bein' 'i-en to the &nsured in 0hich case theb 1@ das notice to that e>ect bein' 'i-en to the &nsured in 0hich case the

&nsurers shall be liable to repa on demand a rate able proportion o* the&nsurers shall be liable to repa on demand a rate able proportion o* the

premium *or the unepired term *rom the date o* cancellation.premium *or the unepired term *rom the date o* cancellation.

-CION I $A-#IAL DA$A?--CION I $A-#IAL DA$A?-

he Compan hereb a'rees 0ith the &nsured (subect to the eclusions and conditionshe Compan hereb a'rees 0ith the &nsured (subect to the eclusions and conditions

contained herein or endorsed hereon that i*, at an time durin' the period o*contained herein or endorsed hereon that i*, at an time durin' the period o*

insurance stated in the said 8chedule, or durin' an *urther period o* etensioninsurance stated in the said 8chedule, or durin' an *urther period o* etension

thereo* the propert (ecept packin' materials o* an kind or an part thereo*thereo* the propert (ecept packin' materials o* an kind or an part thereo*

described in the said 8chedule be lost, dama'ed or destroed b an cause, otherdescribed in the said 8chedule be lost, dama'ed or destroed b an cause, other

than those speci/call ecluded hereunder, in a manner necessitatin' replacement orthan those speci/call ecluded hereunder, in a manner necessitatin' replacement or

repair the Compan 0ill pa or make 'ood all such loss or dama'e up to an amountrepair the Compan 0ill pa or make 'ood all such loss or dama'e up to an amount

not eceedin' in respect o* each o* the items speci/ed in the 8chedule the sum setnot eceedin' in respect o* each o* the items speci/ed in the 8chedule the sum set

opposite thereto and not eceedin' in the 0hole the total sum insured herebopposite thereto and not eceedin' in the 0hole the total sum insured hereb

)olic o. )a'e 2 L


9/20


$u%&ai 400001

he Compan 0ill also reimburse the &nsured *or the cost o* clearance and remo-al o*he Compan 0ill also reimburse the &nsured *or the cost o* clearance and remo-al o*

debris *ollo0in' upon an e-ent 'i-in' rise to an admissible claim under this polic butdebris *ollo0in' upon an e-ent 'i-in' rise to an admissible claim under this polic but

not eceedin' in all the sum (i* an set opposite thereto in the 8chedule.not eceedin' in all the sum (i* an set opposite thereto in the 8chedule.

-@CLION O -CION I -@CLION O -CION I

he Compan, shall not, ho0e-er, be liable *or "he Compan, shall not, ho0e-er, be liable *or "

aa he /rst amount o* the loss arisin' out o* each and e-er occurrence sho0n ashe /rst amount o* the loss arisin' out o* each and e-er occurrence sho0n as

Ecess in the 8cheduleMEcess in the 8cheduleMbb 5oss disco-ered onl at the time o* takin' an in-entorM5oss disco-ered onl at the time o* takin' an in-entorMcc ormal 0ear and tear, 'radual deterioration due to atmospheric conditions orormal 0ear and tear, 'radual deterioration due to atmospheric conditions or

other0ise, rust, scratchin' o* painted or polished sur*aces or breaka'e o*other0ise, rust, scratchin' o* painted or polished sur*aces or breaka'e o*

'lassM'lassMdd 5oss or dama'e due to *ault desi'n, de*ecti-e material or castin', bad5oss or dama'e due to *ault desi'n, de*ecti-e material or castin', bad

0orkmanship other than *aults in erection.0orkmanship other than *aults in erection.his eclusion shall be limited to the items immediatel a>ectedhis eclusion shall be limited to the items immediatel a>ected

and shall not be deemed to eclude loss or dama'e to other insured itemsand shall not be deemed to eclude loss or dama'e to other insured items

resultin' *rom such ecluded perilsMresultin' *rom such ecluded perilsMee he cost necessar *or recti/cation or correction o* an error durin' erectionhe cost necessar *or recti/cation or correction o* an error durin' erection

unless resultin' in phsical loss or dama'eMunless resultin' in phsical loss or dama'eM** 5oss o* or dama'e to /les, dra0in's, accounts, bills, currenc, stamps, deeds,5oss o* or dama'e to /les, dra0in's, accounts, bills, currenc, stamps, deeds,

e-idence o* debt, notes, securities cheues, packin' materials such as cases,e-idence o* debt, notes, securities cheues, packin' materials such as cases,

boes, cratesMboes, cratesM'' An dama'e or penalties on account o* the &nsured;s non" *ul/llment o* theAn dama'e or penalties on account o* the &nsured;s non" *ul/llment o* the

terms o* deli-er or completion under his Contract o* Erection or o* anterms o* deli-er or completion under his Contract o* Erection or o* an

obli'ations assumed there under includin' conseuential loss o* an kind orobli'ations assumed there under includin' conseuential loss o* an kind or

description or *or an aesthetic de*ects or operational de/ciencies.description or *or an aesthetic de*ects or operational de/ciencies.

'#O+IION A''LIN? O -CION I '#O+IION A''LIN? O -CION I

$e%o 1B $ IN#-D $e%o 1B $ IN#-D

&t is a reuirement o* this insurance that the 8um o* &nsurance stated in the 8chedule&t is a reuirement o* this insurance that the 8um o* &nsurance stated in the 8chedule

shall not be less than the completel erected -alue o* the propert inclusi-e o*shall not be less than the completel erected -alue o* the propert inclusi-e o*

*rei'hts, customs dut, erection cost and the &nsured undertakes to increase or*rei'hts, customs dut, erection cost and the &nsured undertakes to increase or

decrease the amount o* insurance in the e-ent o* an material Nuctuation in the le-eldecrease the amount o* insurance in the e-ent o* an material Nuctuation in the le-el

o* 0a'es or prices. )ro-ided al0as that such increase or decrease shall take e>ecto* 0a'es or prices. )ro-ided al0as that such increase or decrease shall take e>ect

onl a*ter the same has been recorded on the )olic b the Compan.onl a*ter the same has been recorded on the )olic b the Compan.

&*, in the e-ent o* the occurrence o* a loss, or dama'e it is *ound that the 8um &nsured&*, in the e-ent o* the occurrence o* a loss, or dama'e it is *ound that the 8um &nsured

representin' the completel erected -alue o* the propert and=or o* particular itemsrepresentin' the completel erected -alue o* the propert and=or o* particular items

in-ol-ed is less than the amount reuired to be insured the amount reco-erable b thein-ol-ed is less than the amount reuired to be insured the amount reco-erable b the

&nsured under the )olic shall be reduced in such proportion as the 8um &nsured bears&nsured under the )olic shall be reduced in such proportion as the 8um &nsured bears

to the amount reuired to be insured.to the amount reuired to be insured.

$e%o 2B '#-$I$ AD$-N $e%o 2B '#-$I$ AD$-N

)olic o. )a'e 2 K


10/20


$u%&ai 400001

he sum insured under the )olic representin' the completel erected -alue o* thehe sum insured under the )olic representin' the completel erected -alue o* the

plant machiner=proect shall be adustable at completion o* erection on the basis o*plant machiner=proect shall be adustable at completion o* erection on the basis o*

the actual -alues to be declared b the insured in respect o* *rei'ht and handlin'the actual -alues to be declared b the insured in respect o* *rei'ht and handlin'

char'es, customs dues and costs o* erection and the di>erence in premium shall bechar'es, customs dues and costs o* erection and the di>erence in premium shall be

met 0ith b pament, at the rate a'reed to or b the insured as the case ma be. Anmet 0ith b pament, at the rate a'reed to or b the insured as the case ma be. An

increase or decrease in prime cost o* )lant and Euipment shall not be the subectincrease or decrease in prime cost o* )lant and Euipment shall not be the subect

matter o* premium adustment.matter o* premium adustment.

$e%o


11/20


$u%&ai 400001

he !aor )erils=Acts o* :od Claims shall mean the claims arisin' out o* "he !aor )erils=Acts o* :od Claims shall mean the claims arisin' out o* "

1.1. Earthuake " Fire 4 8hockEarthuake " Fire 4 8hock+.+. 5andslide=Rockslide=8ubsidence,5andslide=Rockslide=8ubsidence,%.%. Flood=&nundation,Flood=&nundation,#.#. 8torm=empest=Hurricane=phoon=Cclone=li'htnin' or other atmospheric8torm=empest=Hurricane=phoon=Cclone=li'htnin' or other atmospheric

disturbances.disturbances.@.@. sunamisunami

-CION II 5I#D 'A# LIA:ILI-CION II 5I#D 'A# LIA:ILI

he Compan 0ill indemni* the &nsured a'ainst "he Compan 0ill indemni* the &nsured a'ainst "

aa 5e'al liabilit *or accidental loss or dama'e caused to propert o* other persons5e'al liabilit *or accidental loss or dama'e caused to propert o* other persons

includin' propert held in trust b or under custod o* the &nsured *or 0hich heincludin' propert held in trust b or under custod o* the &nsured *or 0hich he

is responsible ecludin' an such propert used in connection 0ith erectionis responsible ecludin' an such propert used in connection 0ith erection

thereonMthereonMbb 5e'al liabilit (liabilit under contract ecepted *or *atal or non"*atal inur to5e'al liabilit (liabilit under contract ecepted *or *atal or non"*atal inur to

an person other than the &nsured;s o0n emploees or 0orkman or emploeesan person other than the &nsured;s o0n emploees or 0orkman or emploees

o* the o0ner o* the 0orks or premises or other /rms connected 0ith an othero* the o0ner o* the 0orks or premises or other /rms connected 0ith an other

erection 0ork thereon, or members o* the &nsured;s *amil or o* an o* theerection 0ork thereon, or members o* the &nsured;s *amil or o* an o* the

a*oresaidM directl conseuent upon or solel due to the erection o* an properta*oresaidM directl conseuent upon or solel due to the erection o* an propert

described in the 8chedule.described in the 8chedule.

)ro-ided that the total liabilit o* the Compan durin' the period o* &nsurance under)ro-ided that the total liabilit o* the Compan durin' the period o* &nsurance underthis clause shall not eceed the limits o* &ndemnit set opposite thereto in thethis clause shall not eceed the limits o* &ndemnit set opposite thereto in the

8chedule.8chedule.

&n respect o* a claim *or compensation to 0hich the indemnit pro-ided herein applies,&n respect o* a claim *or compensation to 0hich the indemnit pro-ided herein applies,

the Compan 0ill, in addition, indemni* the &nsured a'ainst "the Compan 0ill, in addition, indemni* the &nsured a'ainst "

aa all cost and epenses o* liti'ation reco-ered b an claimant *rom the &nsured,all cost and epenses o* liti'ation reco-ered b an claimant *rom the &nsured,

andandbb all costs and epenses incurred 0ith the 0ritten consent o* the Compan.all costs and epenses incurred 0ith the 0ritten consent o* the Compan.

he eclusion contained in para'raphs (d, (* 4 (' in 8ection & o* this )olic shallhe eclusion contained in para'raphs (d, (* 4 (' in 8ection & o* this )olic shallappl to this 8ection also.appl to this 8ection also.

Li!it ', liailit/ RS 0).))Cr A.O.A. a"$ i" t1# a22r#2at# $uri"2 t1# 3'licLi!it ', liailit/ RS 0).))Cr A.O.A. a"$ i" t1# a22r#2at# $uri"2 t1# 3'lic

3#ri'$3#ri'$..

-@CLION O -CION II -@CLION O -CION II

he Compan 0ill not indemni* the &nsured in respect o* "he Compan 0ill not indemni* the &nsured in respect o* "

1.1. he Ecess stated in the 8chedule to be borne b the &nsured in an onehe Ecess stated in the 8chedule to be borne b the &nsured in an one

occurrence related to propert dama'eoccurrence related to propert dama'e

+.+. Ependiture incurred in doin' or redoin' or makin' 'ood or repairin' orEpenditure incurred in doin' or redoin' or makin' 'ood or repairin' or

replacin' anthin' co-ered or co-erable under 8ection & o* this )olicMreplacin' anthin' co-ered or co-erable under 8ection & o* this )olicM%.%. 5iabilit conseuent upon I5iabilit conseuent upon I

)olic o. )a'e 2 11


12/20


$u%&ai 400001

aa bodil inur to or illness o* emploees or 0orkmen o* the Contractor(s orbodil inur to or illness o* emploees or 0orkmen o* the Contractor(s or

the )rincipal(s or an other /rm connected 0ith the proect 0hich or part o*the )rincipal(s or an other /rm connected 0ith the proect 0hich or part o*

0hich is insured under 8ection &, or members o* their *amiliesM0hich is insured under 8ection &, or members o* their *amiliesMbb loss o* or dama'e to propert belon'in' to or held in care, custod orloss o* or dama'e to propert belon'in' to or held in care, custod or

control o* the Contractor(s, the )rincipal(s or an other /rm connected 0ithcontrol o* the Contractor(s, the )rincipal(s or an other /rm connected 0ith

the proect 0hich or part o* 0hich is insured under 8ection &, or an emploeethe proect 0hich or part o* 0hich is insured under 8ection &, or an emploee

or 0orkman o* one o* the a*oresaidMor 0orkman o* one o* the a*oresaidMcc an accident caused b -ehicles licensed *or 'eneral road use or ban accident caused b -ehicles licensed *or 'eneral road use or b

0aterborne -essels or aircra*tM0aterborne -essels or aircra*tMd An a'reement b the &nsured to pa an sum b 0a o* indemnit orAn a'reement b the &nsured to pa an sum b 0a o* indemnit or

other0ise unless such liabilit 0ould ha-e attached also in the absence o*other0ise unless such liabilit 0ould ha-e attached also in the absence o*

such a'reement.such a'reement.

CONDIION A''LIN? O -CION II CONDIION A''LIN? O -CION II

1.1. o admission, o>er, promise, pament or indemnit shall be made or 'i-en bo admission, o>er, promise, pament or indemnit shall be made or 'i-en b

or on behal* o* the &nsured 0ithout the 0ritten consent o* the Compan 0hoor on behal* o* the &nsured 0ithout the 0ritten consent o* the Compan 0ho

shall be entitled i* the so desire, to take o-er and conduct in the name o* theshall be entitled i* the so desire, to take o-er and conduct in the name o* the

&nsured the de*ense or settlement o* an claim or to prosecute *or their o0n&nsured the de*ense or settlement o* an claim or to prosecute *or their o0n

bene/t in the name o* the &nsured an claim *or indemnit or dama'e orbene/t in the name o* the &nsured an claim *or indemnit or dama'e or

other0ise and shall ha-e *ull discretion in the conduct o* an proceedin's orother0ise and shall ha-e *ull discretion in the conduct o* an proceedin's or

in the settlement o* an claim and the &nsured shall 'i-e all such in*ormationin the settlement o* an claim and the &nsured shall 'i-e all such in*ormation

and assistance as the Compan ma reuire.and assistance as the Compan ma reuire.

+.+. he Compan ma, so *ar as an accident is concerned, pa to the &nsured thehe Compan ma, so *ar as an accident is concerned, pa to the &nsured the

limit o* indemnit *or an one accident, an one period, but deductin' therelimit o* indemnit *or an one accident, an one period, but deductin' there

*rom in such case an sum=s alread paid as compensation in respect thereo* or*rom in such case an sum=s alread paid as compensation in respect thereo* or

an lesser sum *or 0hich the claim or claims arisin' *rom such accident can bean lesser sum *or 0hich the claim or claims arisin' *rom such accident can be

settled and the compan shall therea*ter be under no *urther liabilit in respectsettled and the compan shall therea*ter be under no *urther liabilit in respect

o* such accident under this section.o* such accident under this section.

-NDO#-$-N FO#$IN? 'A# OF -CION I ) IIB-NDO#-$-N FO#$IN? 'A# OF -CION I ) IIB

1.1. O8N-# ##ONDIN? '#O'-# 8I5 FL-@A #IO8N-# ##ONDIN? '#O'-# 8I5 FL-@A #I

&t is hereb declared and a'reed that the &nsured ha-in' paid the etra premium&t is hereb declared and a'reed that the &nsured ha-in' paid the etra premium

the polic etends to co-er loss o* or dama'e to propert located on or adacentthe polic etends to co-er loss o* or dama'e to propert located on or adacent

to the )roect 8ite and belon'in' to or held in care, custod or control o* theto the )roect 8ite and belon'in' to or held in care, custod or control o* the

)rincipal (s or the Contractor (s shall onl be co-ered i* occurrin' directl due)rincipal (s or the Contractor (s shall onl be co-ered i* occurrin' directl due

to the construction o* the items insured under 8ection & and happenin' durin'to the construction o* the items insured under 8ection & and happenin' durin'

the period o* co-er.the period o* co-er.

his co-er does not appl to Construction= Erection !achiner, )lant andhis co-er does not appl to Construction= Erection !achiner, )lant and

Euipment, emporar Buildin's and emporar 8ite &nstallations.Euipment, emporar Buildin's and emporar 8ite &nstallations. Li!it ',Li!it ',

I"$#!"it 1all # u3 t' 0)4 ', t1# 3'lic Su! I"ur#$ 5it1 FLE+AI"$#!"it 1all # u3 t' 0)4 ', t1# 3'lic Su! I"ur#$ 5it1 FLE+A

Ri6.Ri6.

2.2. F#-- AO$AIC #-INA-$-N CLA-F#-- AO$AIC #-INA-$-N CLA-

)olic o. )a'e 2 1+


13/20


$u%&ai 400001

ot0ithstandin' anthin' contained herein to the contrar it is hereb a'reedot0ithstandin' anthin' contained herein to the contrar it is hereb a'reed

and understood that the amounts insured are al0as to remain at risk and shalland understood that the amounts insured are al0as to remain at risk and shall

not be reduced *ollo0in' loss or dama'e &nsured hereunder so lon' asnot be reduced *ollo0in' loss or dama'e &nsured hereunder so lon' as t1#t1#

a22r#2at# ', t1# u! 3ai$ a"$7'r 3aal# $'# "'t #8c##$ 0)4 ', t1#a22r#2at# ', t1# u! 3ai$ a"$7'r 3aal# $'# "'t #8c##$ 0)4 ', t1#

c'!3l#t#l #r#ct#$ 9alu#c'!3l#t#l #r#ct#$ 9alu#&t is hereb declared and a'reed that the &nsured&t is hereb declared and a'reed that the &nsured

ha-in' paid the etra premium the amount insured are al0as to remain at riskha-in' paid the etra premium the amount insured are al0as to remain at risk

and shall not be reduced so lon' as the a''re'ate o* the sum paid and=orand shall not be reduced so lon' as the a''re'ate o* the sum paid and=or

paable does not eceed 11$? o* sum insured.paable does not eceed 11$? o* sum insured.


14/20


$u%&ai 400001

&t is ho0e-er understood and a'reed that the premium collected a'ainst price&t is ho0e-er understood and a'reed that the premium collected a'ainst price

escalation herein abo-e shall not be subect to re*und the premium adustmentescalation herein abo-e shall not be subect to re*und the premium adustment

clause in the memo + o* the polic.clause in the memo + o* the polic.

&t is *urther understood and a'reed that in case o* additional premium&t is *urther understood and a'reed that in case o* additional premium

char'eable durin' /nal adustment, additional escalation premium 0ill bechar'eable durin' /nal adustment, additional escalation premium 0ill be

char'ed to the insured but in case o* an premium re*undable durin' /nalchar'ed to the insured but in case o* an premium re*undable durin' /nal

adustment no re*und shall be allo0ed a'ainst the escalation premium alreadadustment no re*und shall be allo0ed a'ainst the escalation premium alread

char'ed to the insured.char'ed to the insured.

.. 8AI+-# OF :#O?AION CLA-8AI+-# OF :#O?AION CLA-

&t is hereb a'reed and understood that other0ise subect to the terms&t is hereb a'reed and understood that other0ise subect to the terms

eclusions, pro-isions and conditions contained in the )olic or endorsedeclusions, pro-isions and conditions contained in the )olic or endorsed

thereon, the &nsurers shall 0ai-e all their ri'hts o* subro'ation or action 0hichthereon, the &nsurers shall 0ai-e all their ri'hts o* subro'ation or action 0hich

the ma ha-e or acuire a'ainst the assured and an person, /rm orthe ma ha-e or acuire a'ainst the assured and an person, /rm or

corporation ha-in' an association or aOliation at the time o* loss 0ith thecorporation ha-in' an association or aOliation at the time o* loss 0ith the

assured throu'h o0nership or mana'ement subect to ha-in' been insuredassured throu'h o0nership or mana'ement subect to ha-in' been insured

under this )olic.under this )olic.

7.7. -@-ND-D $AIN-NANC- CO+-# CLA--@-ND-D $AIN-NANC- CO+-# CLA-

&t is a'reed and understood that other0ise subect to the terms, eclusions ,&t is a'reed and understood that other0ise subect to the terms, eclusions ,

pro-isions and conditions contained in the polic or endorsed thereon andpro-isions and conditions contained in the polic or endorsed thereon andsubect to &nsure ha-in' paid the a'reed etra premium, this insurance shall besubect to &nsure ha-in' paid the a'reed etra premium, this insurance shall be

etended *or the maintenance periodetended *or the maintenance period %0; !'"t1&%0; !'"t1& speci/ed hereunder tospeci/ed hereunder to

co-er loss o* or dama'e to contract 0orks.co-er loss o* or dama'e to contract 0orks.

Caused b the &nsured contractor(s in the course o* the operations carried outCaused b the &nsured contractor(s in the course o* the operations carried out

*or the purpose o* complin' 0ith the obli'ations under the maintenance*or the purpose o* complin' 0ith the obli'ations under the maintenance

pro-isions o* the contract.pro-isions o* the contract.

3ccurrin' durin' the maintenance period pro-ided such loss or dama'e 0as3ccurrin' durin' the maintenance period pro-ided such loss or dama'e 0as

caused on the site durin' the erection period.caused on the site durin' the erection period.

E.E. D-I?N D-F-C CO+-#D-I?N D-F-C CO+-#

D-4D-4

his polic ecludes loss o* or dama'e to and the cost necessar to replace,his polic ecludes loss o* or dama'e to and the cost necessar to replace,

repair or recti*repair or recti*

aa An component, part or indi-idual item o* the )ropert &nsured 0hich isAn component, part or indi-idual item o* the )ropert &nsured 0hich is

de*ecti-e in desi'n, plan 8peci/cation, materials or 0orkmanship.de*ecti-e in desi'n, plan 8peci/cation, materials or 0orkmanship.bb )ropert &nsured lost or dama'ed to enable the replacement repair or)ropert &nsured lost or dama'ed to enable the replacement repair or

recti/cation o* )ropert &nsured ecluded b (a abo-e.recti/cation o* )ropert &nsured ecluded b (a abo-e.

Eclusion (a abo-e shall not appl to other parts or items o* )ropert &nsuredEclusion (a abo-e shall not appl to other parts or items o* )ropert &nsured

0hich are *ree *rom de*ect but are dama'ed in conseuence thereo*.0hich are *ree *rom de*ect but are dama'ed in conseuence thereo*.

)olic o. )a'e 2 1#


15/20


$u%&ai 400001

For the purpose o* the )olic and not merel this Eclusion, the )ropert &nsuredFor the purpose o* the )olic and not merel this Eclusion, the )ropert &nsured

shall not be re'arded as lost or dama'ed solel b -irtue o* the eistence o* anshall not be re'arded as lost or dama'ed solel b -irtue o* the eistence o* an

de*ect in desi'n plan speci/cation materials or 0orkmanship in the )ropertde*ect in desi'n plan speci/cation materials or 0orkmanship in the )ropert

&nsured or an part thereo*. P&nsured or an part thereo*. P

/./. ADDIIONAL CO$ D CLA-ADDIIONAL CO$ D CLA-

&n consideration o* the &nsured ha-in' paid an additional premium, it is hereb&n consideration o* the &nsured ha-in' paid an additional premium, it is hereb

declared and a'reed that the insured shall also be indemni/ed durin' thedeclared and a'reed that the insured shall also be indemni/ed durin' the

currenc o* this polic,currenc o* this polic, t'5ar$ t1# A$$iti'"al Cut'! Dut a!'u"t ',t'5ar$ t1# A$$iti'"al Cut'! Dut a!'u"t ',

NR 0).)) CrNR 0).)) Cr 0hich ma be incurred b the &nsured o-er and abo-e the0hich ma be incurred b the &nsured o-er and abo-e the

Customs Dut amount taken into account in arri-in' at the 8um &nsured o* theCustoms Dut amount taken into account in arri-in' at the 8um &nsured o* the

a>ected item.a>ected item.

he &ndemnit *or such Additional Customs Dut 0ill stand reduced a*terhe &ndemnit *or such Additional Customs Dut 0ill stand reduced a*ter

occurrence o* the claim unless reinstated b pament o* an additional premiumoccurrence o* the claim unless reinstated b pament o* an additional premium

prescribed b the Compan. 8ubect other0ise to the terms, conditions andprescribed b the Compan. 8ubect other0ise to the terms, conditions and

eceptions o* the policG.eceptions o* the policG.

10.10. 0B0 CLA-0B0 CLA-

&n respect o* the subect matter &nsured hereunder consi'ned *rom an0here&n respect o* the subect matter &nsured hereunder consi'ned *rom an0here

he &nsured hereb undertakes to inspect each item o* the subect matterhe &nsured hereb undertakes to inspect each item o* the subect matter

&nsured upon arri-al at the contract site *or possible dama'e sustained durin'&nsured upon arri-al at the contract site *or possible dama'e sustained durin'

transit.transit.

&n the case o* packed items 0hich are to be le*t in their packa'in' until a later&n the case o* packed items 0hich are to be le*t in their packa'in' until a later

date the packa'in' is to be -isuall inspected *or si'ns o* possible dama'e anddate the packa'in' is to be -isuall inspected *or si'ns o* possible dama'e and

0here such dama'e is -isible, the items are to be unpacked and inspected and0here such dama'e is -isible, the items are to be unpacked and inspected and

an dama'e disco-ered reported to the !arine &nsurers.an dama'e disco-ered reported to the !arine &nsurers.

7here the packa'in' o* an item sho0s no -isible si'ns o* dama'e to such item7here the packa'in' o* an item sho0s no -isible si'ns o* dama'e to such item

ha-in' been sustained durin' transit an subseuent dama'e disco-ered uponha-in' been sustained durin' transit an subseuent dama'e disco-ered upon

unpackin' 0ill be dealt 0ith b the !arine &nsurers or the EAR &nsurersunpackin' 0ill be dealt 0ith b the !arine &nsurers or the EAR &nsurers

accordin' to 0hether it can be clearl established that such dama'e 0asaccordin' to 0hether it can be clearl established that such dama'e 0as

caused be*ore or a*ter arri-al at the contract site.caused be*ore or a*ter arri-al at the contract site.

7here it is not possible to clearl establish 0hether the dama'e to an item 0as7here it is not possible to clearl establish 0hether the dama'e to an item 0as

caused be*ore or a*ter arri-al at the contract site it is hereb a'reed that thecaused be*ore or a*ter arri-al at the contract site it is hereb a'reed that the

cost o* such dama'e shall be shared euall bet0een the !arine &nsurers andcost o* such dama'e shall be shared euall bet0een the !arine &nsurers and

the EAR &nsurers pro-ided such a clause is included in the !arine )olic also.the EAR &nsurers pro-ided such a clause is included in the !arine )olic also.

he insurers 0ill not indemni* the insured *or loss or dama'e caused b thehe insurers 0ill not indemni* the insured *or loss or dama'e caused b the

*ailure to take 'enerall accepted loss pre-ention measures *or 0arehouses or*ailure to take 'enerall accepted loss pre-ention measures *or 0arehouses or

stora'e units. 8uch measures shall includestora'e units. 8uch measures shall include

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)ositionin' and desi'nin' the stora'e units in such a 0a as to pre-ent dama'e)ositionin' and desi'nin' the stora'e units in such a 0a as to pre-ent dama'e

b accumulatin' 0ater or Noodin' due to rain*all or b a Nood.b accumulatin' 0ater or Noodin' due to rain*all or b a Nood.

8ite /re sa*et plan, 0hich speci/call includes instructions re'ardin' the /re8ite /re sa*et plan, 0hich speci/call includes instructions re'ardin' the /re

precautions to be taken in respect o* the stora'e o* such materials, plant orprecautions to be taken in respect o* the stora'e o* such materials, plant or

machiner.machiner.

11.11. 72 5O# CLA-72 5O# CLA-

&t is a'reed that an loss o* or dama'e to the &nsured )ropert arisin' durin'&t is a'reed that an loss o* or dama'e to the &nsured )ropert arisin' durin'

an one period o* se-ent t0o (+ consecuti-e hours, caused b storm,an one period o* se-ent t0o (+ consecuti-e hours, caused b storm,

tempest Nood or earthuake shall be deemed as a sin'le e-ent and there*ore,tempest Nood or earthuake shall be deemed as a sin'le e-ent and there*ore,

to constitute one occurrence 0ith re'ard to the Ecesses pro-ided *or herein.to constitute one occurrence 0ith re'ard to the Ecesses pro-ided *or herein.

For the purpose o* the *ore'oin' the commencement o* an such se-ent t0oFor the purpose o* the *ore'oin' the commencement o* an such se-ent t0o

(+ hours period shall be decided at the discretion o* the &nsured it bein'(+ hours period shall be decided at the discretion o* the &nsured it bein'

understood and a'reed, ho0e-er, that there shall be no o-erlappin' in an t0ounderstood and a'reed, ho0e-er, that there shall be no o-erlappin' in an t0o

or more such se-ent t0o (+ hours periods in the e-ent o* dama'e occurrin'or more such se-ent t0o (+ hours periods in the e-ent o* dama'e occurrin'

o-er a more etended period o* time.o-er a more etended period o* time.

12.12. LO $INI$IAION -@'-N-LO $INI$IAION -@'-N-

&* upon happenin' o* an peril hereb insured resultin' in actual dama'e to the&* upon happenin' o* an peril hereb insured resultin' in actual dama'e to the

&nsured )ropert, the &nsured shall take all steps to minimie *urther loss or&nsured )ropert, the &nsured shall take all steps to minimie *urther loss or

dama'e arisin' *rom that occurrence or accident, epenses necessaril anddama'e arisin' *rom that occurrence or accident, epenses necessaril and

reasonabl incurred b or on behal* o* the &nsured in an attempt to pre-ent orreasonabl incurred b or on behal* o* the &nsured in an attempt to pre-ent or

minimie such *urther loss or dama'e 0ill be &ndemni/ed upminimie such *urther loss or dama'e 0ill be &ndemni/ed up t' a li!it ', INRt' a li!it ', INR

0) Cr i" t1# a22r#2at#0) Cr i" t1# a22r#2at#

Flarin' o* *eedstock in process per se is not co-ered but *ollo0in' anFlarin' o* *eedstock in process per se is not co-ered but *ollo0in' an

indemni/able cause as a loss pre-ention measure is insured under the polic.indemni/able cause as a loss pre-ention measure is insured under the polic.

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$u%&ai 400001

he amount paable *or such *ees shall not eceed that authoried under thehe amount paable *or such *ees shall not eceed that authoried under the

scales o* the respecti-e institutions or bodies re'ulatin' such char'es or thescales o* the respecti-e institutions or bodies re'ulatin' such char'es or the

sum insured speci/ed in the schedule, 0hiche-er is the lo0er.sum insured speci/ed in the schedule, 0hiche-er is the lo0er.

1.1. -@'-DIIN? CO INCLDIN? AI# F#-I?5 AND -@'#--@'-DIIN? CO INCLDIN? AI# F#-I?5 AND -@'#-

F#-I?5F#-I?5

&t is a'reed and understood that other0ise subect to the terms, eclusions,&t is a'reed and understood that other0ise subect to the terms, eclusions,

pro-isions and conditions contained in the )olic or endorsed thereon andpro-isions and conditions contained in the )olic or endorsed thereon and

Q&nsured ha-in' paid the a'reed premium the &nsurer shall indemni* theQ&nsured ha-in' paid the a'reed premium the &nsurer shall indemni* the

insured, etra char'es *or 3-ertime, i'ht 7ork, 7ork on )ublic Holidas andinsured, etra char'es *or 3-ertime, i'ht 7ork, 7ork on )ublic Holidas and

Epress *rei'ht (includin' Air Frei'ht.Epress *rei'ht (includin' Air Frei'ht.

)ro-ided al0as that such etra char'es are incurred in connection 0ith an)ro-ided al0as that such etra char'es are incurred in connection 0ith an

loss o* or dama'e to the insured items reco-erable under the )olic.loss o* or dama'e to the insured items reco-erable under the )olic.

&* the sum(s insured o* the dama'ed item(s is=are less than the amount(s&* the sum(s insured o* the dama'ed item(s is=are less than the amount(s

reuired to be insured the amount paable under this endorsement *or suchreuired to be insured the amount paable under this endorsement *or such

etra char'es shall be reduced in the same proportion.etra char'es shall be reduced in the same proportion.

)ro-ided al0as that)ro-ided al0as that t1# a!'u"t 3aal# 1all "'t #8c##$ ()4 ', "#tt1# a!'u"t 3aal# 1all "'t #8c##$ ()4 ', "#t

clai! a!'u"tclai! a!'u"t..

1J.A$-ND$-N IN '-CIAL CONDIION CONC-#NIN? FI#-FI?5IN?A$-ND$-N IN '-CIAL CONDIION CONC-#NIN? FI#-FI?5IN?

FACILII- AND FI#- AF- ON CON#CION I-FACILII- AND FI#- AF- ON CON#CION I-

&t is a'reed and understood that other0ise subect to the terms, eclusions,&t is a'reed and understood that other0ise subect to the terms, eclusions,

pro-isions and conditions contained in the )olic or endorsed thereon, thepro-isions and conditions contained in the )olic or endorsed thereon, the

&nsurers shall onl indemni* the &nsured *or loss or dama'e directl or indirectl&nsurers shall onl indemni* the &nsured *or loss or dama'e directl or indirectl

caused b or resultin' *rom /re or eplosion, pro-ided al0as that 0ith re'ardcaused b or resultin' *rom /re or eplosion, pro-ided al0as that 0ith re'ard

to the pro'ress o* 0ork adeuate /re"/'htin' euipment and suOcientto the pro'ress o* 0ork adeuate /re"/'htin' euipment and suOcient

etin'uishin' a'ents are a-ailable and operati-e at all times.etin'uishin' a'ents are a-ailable and operati-e at all times.

'#O+IION A''LIN? O -CION III'#O+IION A''LIN? O -CION III

$e%o 1 -@-NION OF '-#IOD$e%o 1 -@-NION OF '-#IOD

An etension o* the period o* insurance under 8ection & o* this )olic shall notAn etension o* the period o* insurance under 8ection & o* this )olic shall not

automaticall lead to an etension o* the period o* insurance stated in the 8chedule toautomaticall lead to an etension o* the period o* insurance stated in the 8chedule to

this 8ection. An etension o* the period o* insurance under this 8ection o* the )olicthis 8ection. An etension o* the period o* insurance under this 8ection o* the )olic

shall be reuested in 0ritin' as earl as possible b the &nsured, statin' theshall be reuested in 0ritin' as earl as possible b the &nsured, statin' the

circumstances leadin' to need *or etension, and shall ha-e e>ect *or this 8ection onlcircumstances leadin' to need *or etension, and shall ha-e e>ect *or this 8ection onl

i* speci/call a'reed upon in 0ritin'. An alteration o* the scheduled date o*i* speci/call a'reed upon in 0ritin'. An alteration o* the scheduled date o*

commencement o* the insured business shall be reported and shall ha-e e>ect *or thiscommencement o* the insured business shall be reported and shall ha-e e>ect *or this

8ection onl i* speci/call a'reed upon 0ritin'.8ection onl i* speci/call a'reed upon 0ritin'.

1.1. he &nsured shall present the &nsurers 0ith updated pro'ress reports at inter-alshe &nsured shall present the &nsurers 0ith updated pro'ress reports at inter-als

stated in the 8chedule to this 8ection.stated in the 8chedule to this 8ection.

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$u%&ai 400001

+. &n the e-ent o* an material chan'e in the ori'inal risk such as+. &n the e-ent o* an material chan'e in the ori'inal risk such as

aa Chan'es o* the o* the en-isa'ed pro'ress pro'ramme, testin' procedure etcMChan'es o* the o* the en-isa'ed pro'ress pro'ramme, testin' procedure etcMalteration, modi/cation or addition to an item o* machiner or 0ork etcMalteration, modi/cation or addition to an item o* machiner or 0ork etcM

departure *rom prescribed construction or operation conditionsM chan'es indeparture *rom prescribed construction or operation conditionsM chan'es in

the &nsuredGs interest (such as discontinuation or liuidation o* the businessthe &nsuredGs interest (such as discontinuation or liuidation o* the business

or its bein' placed in recei-ershipor its bein' placed in recei-ershipbb akin' place, the )olic shall be -oid unless its continuance be a'reed bakin' place, the )olic shall be -oid unless its continuance be a'reed b

memorandum si'ned b the &nsurers.memorandum si'ned b the &nsurers.

%. &n the e-ent o* an occurrence, 0hich mi'ht cause a dela and 'i-e rise to a%. &n the e-ent o* an occurrence, 0hich mi'ht cause a dela and 'i-e rise to a

claim under this sectionclaim under this section

aa he &nsured shall immediatel noti* the &nsured the &nsurers b telephone orhe &nsured shall immediatel noti* the &nsured the &nsurers b telephone ortele'ram and send them 0ritten con/rmation thereo* 0ithin *ort"ei'ht hourstele'ram and send them 0ritten con/rmation thereo* 0ithin *ort"ei'ht hours

o* the occurrenceMo* the occurrenceMbb he &nsured shall do and concur in doin' and permit to be done all suchhe &nsured shall do and concur in doin' and permit to be done all such

thin's as ma be reasonabl practicable to minimie or establish the etentthin's as ma be reasonabl practicable to minimie or establish the etent

o* an inter*erence 0ith the erection 0ork and=or testin' schedule so as too* an inter*erence 0ith the erection 0ork and=or testin' schedule so as to

a-oid or diminish an dela resultin' there"*rom.a-oid or diminish an dela resultin' there"*rom.cc he &nsurers and e-er person authoried b the &nsurers shall, 0ithouthe &nsurers and e-er person authoried b the &nsurers shall, 0ithout

preudice to an part insured b this )olic, ha-e access to the erection sitepreudice to an part insured b this )olic, ha-e access to the erection site

0here such loss or dama'e has occurred *or the purpose o* direct0here such loss or dama'e has occurred *or the purpose o* direct

ne'otiation 0ith the responsible contractor or subcontractor in order tone'otiation 0ith the responsible contractor or subcontractor in order toestablish the possible cause and etent o* the loss or dama'e, its e>ect onestablish the possible cause and etent o* the loss or dama'e, its e>ect on

the insured items, to eamine the possibilities *or minimiin' an dela tothe insured items, to eamine the possibilities *or minimiin' an dela to

the scheduled date o* commencement o* the insured business, and i*the scheduled date o* commencement o* the insured business, and i*

necessar to make an reasonable recommendations *or the a-oidance ornecessar to make an reasonable recommendations *or the a-oidance or

minimiation o* such dela.minimiation o* such dela.

his condition shall be e-idence o* the lea-e and license o* the &nsured to thehis condition shall be e-idence o* the lea-e and license o* the &nsured to the

&nsurers so to do. &* the &nsured or anone actin' on his behal* hinders or&nsurers so to do. &* the &nsured or anone actin' on his behal* hinders or

obstructs the &nsurers durin' an o* the abo-e"mentioned acts or does notobstructs the &nsurers durin' an o* the abo-e"mentioned acts or does not

compl 0ith such recommendations o* the &nsurers, all bene/ts under this 8ectioncompl 0ith such recommendations o* the &nsurers, all bene/ts under this 8ection

shall be *or*eited.shall be *or*eited.

#.#. &n the e-ent o* a claim bein' made under this 8ection, the &nsured shall at his&n the e-ent o* a claim bein' made under this 8ection, the &nsured shall at his

o0n epense deli-er to the &nsurers not later than thirt das a*ter the dela oro0n epense deli-er to the &nsurers not later than thirt das a*ter the dela or

0ithin such *urther periods as the &nsurers ma allo0 in 0ritin' a 0ritten0ithin such *urther periods as the &nsurers ma allo0 in 0ritin' a 0ritten

statement settin' *orth particulars o* his claim. Furthermore, the &nsured shall atstatement settin' *orth particulars o* his claim. Furthermore, the &nsured shall at

his o0n epense produce and *urnish to the &nsurers such books o* account andhis o0n epense produce and *urnish to the &nsurers such books o* account and

other business books, e.'. in-oices, balance sheets and other documents, proo*s,other business books, e.'. in-oices, balance sheets and other documents, proo*s,

in*ormation, eplanations or other business e-idence as ma reasonabl bein*ormation, eplanations or other business e-idence as ma reasonabl be

reuired b the &nsurers *or the purpose o* in-esti'atin' or -eri*in' the claim,reuired b the &nsurers *or the purpose o* in-esti'atin' or -eri*in' the claim,

to'ether 0ith I i* reuired I a statutor declaration o* the truth o* the claim andto'ether 0ith I i* reuired I a statutor declaration o* the truth o* the claim ando* an matters connected there0ith.o* an matters connected there0ith.

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$u%&ai 400001

@. he indemnit shall be paable one month a*ter /nal determination o* its@. he indemnit shall be paable one month a*ter /nal determination o* its

amount. ot0ithstandin' the abo-e, the &nsured ma, one month a*ter theamount. ot0ithstandin' the abo-e, the &nsured ma, one month a*ter the

&nsurers ha-e been dul noti/ed o* the loss and ha-e ackno0led'ed their liabilit,&nsurers ha-e been dul noti/ed o* the loss and ha-e ackno0led'ed their liabilit,

claim as ad-ance pament(s the minimum amount(s paable under theclaim as ad-ance pament(s the minimum amount(s paable under the

pre-ailin' circumstances.pre-ailin' circumstances.

he &nsurer shall be entitled to postpone pamenthe &nsurer shall be entitled to postpone pament

aa &* there are doubts as to the &nsuredGs ri'ht to recei-e pament, until the&* there are doubts as to the &nsuredGs ri'ht to recei-e pament, until the

necessar proo* is *urnishedMnecessar proo* is *urnishedMbb &*, as a result o* an loss or dama'e or an dela to the anticipated date o*&*, as a result o* an loss or dama'e or an dela to the anticipated date o*

commencement o* the insured business, police or criminal in-esti'ations ha-ecommencement o* the insured business, police or criminal in-esti'ations ha-e

been initiated a'ainst the &nsured, until the completion o* such in-esti'ations.been initiated a'ainst the &nsured, until the completion o* such in-esti'ations.

he &nsurers shall not be liable to pa interest on indemnit mones 0ithheld otherhe &nsurers shall not be liable to pa interest on indemnit mones 0ithheld other

than &nterest *or de*ault.than &nterest *or de*ault.

1.1. -A#5GA- CLA--A#5GA- CLA-

)olic is etended to co-er the Earthuake (Fire and shock risks subect to)olic is etended to co-er the Earthuake (Fire and shock risks subect to

*ollo0in' endorsement 0ordin's*ollo0in' endorsement 0ordin's

Q&n consideration o* the pament b the &nsured to the Compan o* the additionalQ&n consideration o* the pament b the &nsured to the Compan o* the additional

premium, it is hereb a'reed and declared that not0ithstandin' anthin' stated inpremium, it is hereb a'reed and declared that not0ithstandin' anthin' stated inthe printed eclusions o* this polic to the contrar, this &nsurance is etended tothe printed eclusions o* this polic to the contrar, this &nsurance is etended to

co-er loss or dama'e (includin' loss or dama'e b /re to an o* the propertco-er loss or dama'e (includin' loss or dama'e b /re to an o* the propert

insured b this polic occasioned b or throu'h or in conseuence o* earthuakeinsured b this polic occasioned b or throu'h or in conseuence o* earthuake

includin' Nood or o-erNo0 o* the sea lakes, reser-oirs and ri-ers and=orincludin' Nood or o-erNo0 o* the sea lakes, reser-oirs and ri-ers and=or

5andslide=Rockslide resultin'5andslide=Rockslide resultin' there *rom.there *rom.

)ro-ided al0as that all the conditions o* this polic shall appl (ecept in so *ar as)ro-ided al0as that all the conditions o* this polic shall appl (ecept in so *ar as

the ma hereb epressl -aried and that an re*erence therein to loss orthe ma hereb epressl -aried and that an re*erence therein to loss or

dama'e b /re shall be deemed to appl also to loss or dama'e directl caused bdama'e b /re shall be deemed to appl also to loss or dama'e directl caused b

an o* the perils 0hich this insurance etends to include b -irtue o* thisan o* the perils 0hich this insurance etends to include b -irtue o* this

endorsement.endorsement.

'-CIAL CONDIION'-CIAL CONDIION

1.1. Ecess clauseEcess clause+.+. As mentioned in 8chedule *or A3: )erilsAs mentioned in 8chedule *or A3: )erils

Etension co-er shall be 'ranted onl i* the entire propert in oneEtension co-er shall be 'ranted onl i* the entire propert in one

comple=compound=location co-ered under the polic is etended to co-er thiscomple=compound=location co-ered under the polic is etended to co-er this

risk and the 8um &nsured *or this etension is identical to therisk and the 8um &nsured *or this etension is identical to the 8um &nsured8um &nsured

a'ainst the risk co-ered under main polic ecept *or the -alue o* the plinth anda'ainst the risk co-ered under main polic ecept *or the -alue o* the plinth and

*oundations o* the buildin'(s.*oundations o* the buildin'(s.

%.%. 3nus o* proo*3nus o* proo*

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&n the e-ent o* the &nsured makin' an claim *or loss or dama'e under this polic&n the e-ent o* the &nsured makin' an claim *or loss or dama'e under this polic

he must (i* so reuired b the Compan pro-e that the loss or dama'e 0ashe must (i* so reuired b the Compan pro-e that the loss or dama'e 0as

occasioned b or throu'h or in conseuence o* earthuakeoccasioned b or throu'h or in conseuence o* earthuake

final policy wordings_ear voltas ltd september.doc

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