Common use of TIME OF LOSS Clause in Contracts

TIME OF LOSS. This policy applies only to losses which occur during the policy period shown on the In case we fail to agree with you as to the meaning or effect of any provision of this policy or as to the amount payable for any loss covered by this policy, said disagreement shall be resolved by binding arbitration in accordance with the statutory rules and procedures of the state in which the property is located or in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Declarations Page. Should an arbitration under the terms of this clause result in a determination in your favor, we shall reimburse you for expenses actually incurred by you with respect to the arbitration, including reasonable attorney's fees, in a sum to be determined by the arbitrator(s). The provisions of this clause are mandatory and may be enforced either by you or by us.

TIME OF LOSS. This policy applies only to losses which occur during the policy period shown on the Declarations Page. In case we fail to agree with you as to the meaning or effect of any provision of this policy or as to the amount payable for any loss covered by this policy, said disagreement shall be resolved by binding arbitration in accordance with the statutory rules and procedures of the state in which the property is located or in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Declarations Page. Should an arbitration under the terms of this clause result in a determination in your favor, we shall reimburse you for expenses actually incurred by you with respect to the arbitration, including reasonable attorney's ’s fees, in a sum to be determined by the arbitrator(s). The provisions of this clause are mandatory and may be enforced either by you or by us.