General Requirements for Insurances Sample Clauses
The 'General Requirements for Insurances' clause sets out the baseline standards and obligations that parties must meet regarding insurance coverage under a contract. Typically, it outlines the types of insurance required, such as liability or property insurance, the minimum coverage amounts, and the need to provide proof of insurance to the other party. This clause ensures that all parties are adequately protected against potential risks and liabilities during the course of the agreement, thereby reducing the likelihood of disputes and financial losses resulting from unforeseen events.
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General Requirements for Insurances. In this Clause, “insuring Party” means, for each type of insurance, the Party responsible for effecting and maintaining the insurance specified in the relevant Sub-Clause. Wherever the Contractor is the insuring Party, each insurance shall be effected with insurers and in terms approved by the Employer. These terms shall be consistent with any terms agreed by both Parties before the date of the Letter of Acceptance. This agreement of terms shall take precedence over the provisions of this Clause. Wherever the Employer is the insuring Party, each insurance shall be effected with insurers and in terms consistent with the details annexed to the Particular Conditions. If policy is required to indemnify joint insured, the cover shall apply separately to each insured as though a separate policy had been issued for each of the joint 54 Conditions of Contract for Plant and Design-Build insured. If a policy indemnifies additional joint insured, namely in addition to the insured specified in this Clause, (i) the Contractor shall act under the policy on behalf of these additional joint insured except that the Employer shall act for Employer's Personnel, (ii) additional joint insured shall not be entitled to receive payments directly from the insurer or to have any other direct dealings with the insurer, and (iii) the insuring Party shall require all additional joint insured to comply with the conditions stipulated in the policy. Each policy insuring against loss or damage shall provide for payments to be made in the currencies required to rectify the loss or damage. Payments received from insurers shall be used for the rectification of the loss or damage. The relevant insuring Party shall, within the respective periods stated in the Appendix to Tender (calculated from the Commencement Date), submit to the other Party:
(a) evidence that the insurances described in this Clause have been effected, and
(b) copies of the policies for the insurances described in Sub-Clause 18.2 [Insurance for Works and Contractor's Equipment] and Sub-Clause 18.3 [Insurance against Injury to Persons and Damage to Property]. When each premium is paid, the insuring Party shall submit evidence of payment to the other Party. Whenever evidence or policies are submitted the insuring Party shall also give notice to the Engineer. Each Party shall comply with the conditions stipulated In each of the insurance policies. The insuring Party shall keep the insurers informed of any relevant changes to th...
General Requirements for Insurances. 18.1 Add the following at the end of Sub-Clause 18.1: Acceptable to the Employer.
General Requirements for Insurances. Add the following paragraph after paragraph 1: Add the following paragraph after last paragraph,
General Requirements for Insurances. In this Clause, "insuring Party" means, for each type of insurance, the Party responsible for effecting and maintaining the insurance specified in the relevant Sub-Clause as set out in Schedule 4. Wherever the Contractor is the insuring Party, each insurance shall be effected with insurers and in terms chosen by the Contractor and approved by the financial institution providing the funding for the Project/s. These terms shall be consistent with any terms agreed by both Parties before they signed the PPP Agreement, if any. This agreement of terms shall take precedence over the provisions of this Clause. Wherever the Employer/s is/are the insuring Party, each insurance shall be effected with insurers and in terms consistent with the details as set out in Schedule 4 and the Employer/s will be deemed to have satisfied its obligations in respect of such insurance if the insurance is provided by reputable insurers, but only to the extent such insurances otherwise comply with the requirements of this Contract. If a policy is required to indemnify joint insured, the cover shall apply separately to each insured as though a separate policy had been issued for each of the joint insured and no act or omission on the part of one insured will prejudice the other insureds right to claim under such policy. If a policy indemnifies additional joint insured, namely in addition to the insured specified in this Clause, (i) the Contractor shall act under the policy on behalf of these additional joint insured except that the Employer/s shall act for Employer's Personnel,
General Requirements for Insurances. 有关保险的一般要求
General Requirements for Insurances. Insurance against Injury The insuring Party shall insure against each Party’s to Persons and Damage liability for any loss, property damage, death, or bodily to Property injury which may occur to any physical property (except things insured under Sub-Clause 18.2 [Insurance for Works and Contractor’s Equipment) or to any person (except persons insured under Sub-Clause 18.4 [Insurance for Contractor’s Personnel], which may arise out of the Contractor’s performance of the Contract and occurring before the issue of the Performance Certificate. This insurance shall be for a limit per occurrence of not less than the amount stated in the Appendix to Tender, with no limit on the number of occurrences. If an amount is not stated in the Appendix to Tender, this Sub-Clause shall not apply. Unless otherwise stated in the Particular Conditions, the insurances specified in this Sub-Clause.
General Requirements for Insurances. Add the following paragraph to the end of Sub-Clause 18.1: “In all instances defined by Clause 18, other than on the Site of the works as indicated below, the Contractor shall be the insuring Party, and the insurances shall be in the joint names of the Employer and the Contractor.
General Requirements for Insurances. Add at the end of the seventh paragraph after “Employer” the words “and the Contractor shall supply the Employer with original of such evidence or policies. The insurer shall keep the Employer informed of all modifications introduced to the policy post issuance by direct communication. The Contractor shall not modify the approved policy without the prior approval of the Employer and Employer.” Add at the end of the sixth paragraph after item (b) new item “(c) a statement from the Insurance Company that the various insurance requirements clauses of the Contract have been complied with and are fully covered by the policy issued.” Insert at the end of the second paragraph: The Contractor shall be the insuring party, and the insurance policy shall include provisions for cross-liabilities between the Employer and the Contractor as two separate entities in the insurance policies.
General Requirements for Insurances. (i) [In this Clause, t he “ insuring Party” s hall be t he Party r esponsible unde r A nnex I (Insurance) for effecting and maintaining the insurance thereunder.
(ii) Each policy insuring against loss or damage shall provide for payments to be made in the currencies required to rectify the loss or damage. Payments received from insurers shall be used for the rectification of the loss or damage except where the Financing Documents with the Lenders state otherwise.
(iii) The relevant insuring Party shall (calculated from the Effective Date), submit to the other Party as and when reasonably requested:
(i) evidence that the insurances described in this Clause have been effected;
(ii) copies o f the po licies for t he insurances de scribed in C ▇▇▇▇▇ 1 8.2 (Employer Insurances); and
(iii) The respective periods f or submission of evidence of insurance and relevant policies for (i) and (ii) above shall be seven (7) days before execution of the Works at the Site.
(iv) When each premium is paid, the insuring Party shall submit evidence of payment to the other Party.
(v) Each Party shall comply with the conditions stipulated in each of the insurance policies. The i nsuring P arty sha ll keep the insurers informed of any r elevant cha nges t o the execution of the Works and ensure that insurance is maintained in accordance with this Clause.
(vi) Neither Party shall make any material alteration to the terms of any insurance without the prior approval of the other Party. If an insurer makes (or attempts to make) any alteration, the Party first notified by the insurer shall promptly give notice to the other Party.
(vii) Nothing in this Clause limits the obligations, liabilities or responsibilities of the Contractor or the Employer, under the other t erms of the Contract or otherwise. Any amounts not insured or not r ecovered f rom t he insurers shall be borne by t he C ontractor and/or t he Employer in accordance with these obligations, liabilities or responsibilities. However, if the insuring Party f ails to effect and keep in force an insurance which i s available and which it is required to effect and maintain under the Contract, and the other Party neither approves the omission nor effects insurance for the coverage relevant to this default, any moneys w hich s hould ha ve be en r ecoverable under t his i nsurance shall be paid by t he insuring Party.
(viii) Payments by one P arty t o t he o ther P ▇▇▇▇ ▇ ▇▇▇▇ be subject t o C ▇▇▇▇▇ 2.4 ( Employer’s Claims) or Clau...
General Requirements for Insurances. In this Clause, "