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AMERICAN INSTITUTE
CARGO CLAUSE
1.
A This insurance attaches from the time
the goods leave the warehouse or place of storage at the place named in the
certificate, declaration or special policy for the commencement of the transit
and continues until:
1)
the goods are delivered to the consignee’s or other final
warehouse or place of storage at the destination named in the certificate,
declaration or special policy, or
2)
the goods are delivered to any other warehouse or place of
storage, whether prior to or at the destination named in the certificate,
declaration or special policy, which the Assured elects to use either (a) for
storage other than in the ordinary course of transit, or (b) for allocation or
distribution, or
3)
the expiry of 60 days (30 days on air shipments) after
completion of discharge from the overseas vessel or aircraft.
Whichever shall first occur.
In the event of delay in
excess of the limits specified in 3) above arising from circumstances beyond
the control of the Assured, held covered at a premium to be named for an
additional 30 days provided the Assured give notice thereof to these Assurers
as promptly as possible but in any event prior to expiry of the said 30 days
period.
B This insurance specially to
cover the goods during deviation, delay, forced discharge, re-shipment,
transshipment and any other variation of the adventure arising from the
exercise of a liberty granted to the shipowner or charterer under the contract
of affreightment.
C In the event of the exercise
of any liberty granted to shipowner or charterer under the contract of
affreightment whereby such contract is terminated at a port or place other than
the original insured destination, the insurance continues until the goods are
sold and delivered at such port or place; or, if the goods be not sold but are
forwarded to the original insured destination or to any other destination this
insurance continues until the goods have been delivered to the warehouse or
place of storage as provided in paragraph 1.A.
D If while this insurance is
still in force and before the expiry of 15 days from midnight of the day on
which the discharge overside of the goods hereby insured from the overseas
vessel at the final port of discharge is completed, the goods are re-sold (not
being a sale within the terms of paragraph 1.C) and are to be forwarded to a
destination other than covered by this insurance, the goods are covered
hereunder while deposited at such port of discharge until again in transit or
until the expiry of the aforementioned 15 days whichever shall first occur. If
a sale is effected after the expiry of the aforementioned 15 days while this
insurance is still in force the protection afforded hereunder shall cease as
from the time of the sale.
E Held covered at a premium to
be named in case of change of voyage or of any omission or error in the
description of the interest, vessel or voyage.
F It is a condition of this
insurance that there shall be no interruption or suspension of transit unless
due to circumstances beyond the control of the Assured and that the Assured
shall act with reasonable dispatch in all circumstances within their control.
2.
Including transit by craft and / or light to and from the
vessel. Each craft and / or lighter to be deemed a separate insurance. The
assured are not to be prejudiced by any agreement exempting lightermen from
liability.
3. Warranted free from Particular Average unless the vessel or craft be stranded, sunk, or burnt, but notwithstanding this Warranty these Assurers are to pay any loss of or damage to the interest insured which may reasonable be attributed to fire, collision or contact of the vessel and / or craft and / or conveyance with any external substance (ice i
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