Construction Phase Insurances Sample Clauses
The Construction Phase Insurances clause defines the insurance requirements that must be maintained during the construction period of a project. Typically, this clause specifies the types of insurance—such as builder’s risk, public liability, and workers’ compensation—that contractors or project owners must obtain and keep in force until construction is complete. It may also outline minimum coverage amounts, responsible parties for procuring the policies, and procedures for providing proof of insurance. The core function of this clause is to allocate risk and ensure that adequate financial protection is in place to cover potential losses, damages, or liabilities arising during construction.
Construction Phase Insurances. The following insurance to be maintained prior to the Completion Date:
Construction Phase Insurances. Within this Part 2 of this Schedule 7 (Insurance) capitalised terms that are not defined elsewhere in this Agreement shall have the meaning given to them in the relevant Project Document.
1. CONTRACTORS’ “ALL RISKS” INSURANCE (CAR)
Construction Phase Insurances. The Company shall procure that the Construction Phase Insurances specified in Part 2 (Construction Phase Insurances) of this Schedule 7, in form and substance complying with the requirements of this Schedule, shall be purchased and maintained in full force and effect during the period from the date of this Agreement until the date on which the Operational Phase Insurances complying with clause 2.2 (Operational Phase Insurances) come into effect, or (in the case of liability of the Contractor) until the end of the Defects Notification Period, if later.
Construction Phase Insurances