In
the event of shipments insured under this policy being returned for any
reason, Underwriters
hereon agree to hold covered such shipments, continuously hereunder, including
whilst in warehouse or elsewhere until finally disposed of by the Assured.
Reports
of such returned shipments to be made to the Underwriters by the Assured as
soon as practicable after they have knowledge of same.
These
risks are held covered at rates to be agreed, subject to Underwriter’s
agreement regarding the overall extension period required and subject to
individual details of each case as may arise.
In
those cases where returned goods were not insured under
this policy for the outward voyage or where cover under this policy has not
been continuous, it is agreed that
shipments are held covered at rates to be agreed, subject to the Institute
Cargo Clauses (B) 1.1.82 including heavy
weather damage and loss overboard and the Institute War and Strikes Clauses.
Cover is also automatically extended to include the
Institute Malicious Damage Clause without additional premium.
RETURNED SHIPMENTS CLAUSE (CARGO – NON STANDARD CLAUSES)
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