Contract Works SASRIA Sample Clauses
The 'Contract Works SASRIA' clause provides insurance coverage for loss or damage to contract works caused by special risks such as civil commotion, strikes, riots, and related perils, as defined by the South African Special Risks Insurance Association (SASRIA). This clause typically applies to construction or engineering projects, ensuring that the works, materials, and sometimes plant or equipment on site are protected against these specific non-standard risks during the contract period. Its core function is to allocate and manage the risk of extraordinary events that are not covered by standard insurance policies, thereby safeguarding both the contractor and employer from financial loss due to such incidents.
Contract Works SASRIA. In respect of theft as a result of the SASRIA perils insured - R25,000 each and every occurrence .
Contract Works SASRIA. Providing physical loss of or damage to the Works, Temporary Works and materials intended for incorporation in the Works as covered by the underlying Contract Works policy as noted in (a) above due to perils as covered in terms of the SASRIA Contract Works wording as issued by SASRIA SOC.
Contract Works SASRIA. Providing physical loss of or damage to the Works, Temporary Works and materials intended for incorporation in the Works as covered by the underlying Contract Works policy as noted in (a) above due to perils as covered in terms of the SASRIA Contract Works wording as issued by SASRIA SOC. The Contract Works SASRIA cover excludes consequential or indirect loss or damage of any kind or description whatsoever. The SASRIA Contract Works policy is limited to R500,000,000 (Incl VAT) in the aggregate during the policy period of insurance. The Contract Works SASRIA policy wording can be obtained from the SASRIA website ▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇.▇▇/ which notes the covers and policy exclusions.