MONEY (CASH)
IN TRANSIT
OPEN COVER
POLICY #: OP/HO/CT/01/001
………………………………………………………………………….
Whereas the Insured by a written Proposal
and Declaration which shall be the basis of this Contract and is deemed to be
incorporated herein has applied to
PT. …………………………………
(hereinafter
called "the Company") and has paid or agreed to pay the premium
subject to adjustment as hereinafter provided as consideration for the
Insurance hereinafter contained in respect of loss occurring within the
territorial of Republic Indonesia during the Period of Insurance accept payment
for the renewal of this Policy.
THIS POLICY WITNESSETH that subject to
the terms exceptions and conditions contained herein or any endorsement hereof
the Company will indemnify the Insured against loss of Money (as hereinafter
defined) arising in transit or on the premises at Sites of Contracts or at
private residences of the Insured or the residence of principals or employees
duly authorised and (in connection with such loss of money or any attempt
thereat loss of or damage to any safe or strong-room or locked receptacle for
which the Insured is responsible, subject to the limit any one loss set out
herein in respect of any one occurrence.
Jakarta, 02 July 2025
Authorized Signature
THE
SCHEDULE
OPEN
POLICY NUMBER : OP/HO/CT/01/001
TYPE
OF INSURANCE : MONEY (CASH IN TRANSIT) OPEN COVER INSURANCE
POLICY
THE
INSURED : PT.
UNITED CITY BANK (UNIBANK) and/or other parties for
their respective rights and interests.
THE
BUSINESS : Banking
ADDRESS : BNI Building, 22nd Floor
Jl. Jend. Sudirman Kav.1
Jakarta
10220
PERIOD
OF INSURANCE : 12 (twelve) months From June 30th
2001 To June 30th 2002
(both days inclusive at 1200 Jakarta
time)
LOCATION : As per attached
LIMIT
OF LIABILITY : As
per attached
PER
TRANSIT
TERRITORIAL
LIMIT : Republic of Indonesia
RATE : 0.0250 % of actual carrying amount
DEDUCTIBLE : 25% of recoverable claim amount subject to a
minimum of
10%
of sum insured eel of each transit for loss/damage due
to
SRCC
WARRANTY :
SUM INSURED UNDER Rp. 500.000.000 :
- Accommodate by at least 1 driver;
1 staff of Unibank and
1
policeman or 1 security guard or 1 TNI/ABRI
SUM INSURED ABOVE
Rp. 500.000.000 : - Accommodate by at
least 1 driver, 1 staff of Unibank, and
2
Policemen and/or security guard and/or TNI/ABRI
Satisfactory
money (cash) handling shall be provided during each
Transit.
COVERAGE
& INTERESTS :
CASH (MONEY) IN
TRANSIT
Loss of Money
whilst in transit, in the care of custody or control of the Insured
- From The
Insured’s premises to the
Bank of Indonesia
and vice versa;
- From The Insured’s premises to The Insured’s Client/customer and
vice versa;
- From The Insured’s branch/unit to other
unit/branch and vice versa;
Provided that
all the transits shall be
made within the supervisory branch limit
or within the same city/town; anywhere
in Indonesia, for all the Insured’s
activities/
business from
the time the money is received by
the authorized employees
until delivered at final destination.
1. Loss Notification Clause
2. Strike Riot Civil Commotion Clause
3. 30 Days Cancellation Clause
4. Transit Vehicle Limitation Clause
5. Electronic Date Recognition Exclusion
“A” Clause
CONDITION : A
written notification shall be received by the Company prior
to each transit or shipment
Excess
limit of the limit attachment shall be notified and to
Be
approved by the Company
Monthly
premium will be calculated for each branch
OUR
SHARE HEREON : 100%
across the board
Jakarta, 02 July 2025
Signed for and On behalf of,
DEFINITIONS
"Money" unless
otherwise stated means current currency notes (Indonesian Rupiah Notes).
"Principals" unless
otherwise stated means Executive Officers of the Insured and the Insured's
Directors but only whilst acting in their capacity as Directors.
EXCEPTIONS
The Company
shall not be liable for
(1)
Shortages due to clerical or
accounting errors or to depreciation in value or to use of counterfeit Money
and loss due to errors in receiving or paying out.
(2)
Loss of money entrusted to any
person other than the Insured his principals or employees or Armoured Vehicle
Transport.
(3)
Loss arising out of the payment of
money for or in consideration of a cheque which is subsequently dishonoured.
(4)
Loss for which at the time of its
occurrence indemnity is provided by or would but for the existence of this
policy be provided by any other existing policy or policies except in respect
of any excess beyond the amount which would have been payable under such other
policy or policies had this insurance not been effected.
(5)
Loss consequent directly or
indirectly upon earthquake.
(6)
Loss occasioned by or through or in
consequence, directly, of any of the following occurrences, namely.- War,
invasion, act of foreign enemy, hostilities of warlike operations (whether war
be declared or not), civil war
(7)
Loss occasioned by or through or in
consequence, directly or indirectly, of any of the following occurrences,
namely: Mutiny, riot, military or popular rising, insurrection, rebellion,
revolution, military or usurped power, martial law or state of siege or any of
the events or causes which determine the proclamation or maintenance of martial
law or state of siege.
(8)
Any accident or any loss or
destruction of or damage to any property whatsoever or any loss expense
whatsoever resulting or arising therefrom or any consequential loss directly or
indirectly caused by or contributed to by or arising from ionising radiation or
contamination by radioactivity from any nuclear fuel or from any nuclear waste
from the combustion of nuclear fuel. Solely for the purpose of this exclusion,
combustion shall include any self-sustaining process of nuclear fission.
(9)
Any accident loss, destruction or
damage directly or indirectly caused by or contributed to by or arising from
nuclear weapons material.
(10)
Loss due to the fraud or dishonesty
of any employee of the Insured.
Any loss
happening during the existence of abnormal conditions as set out in (5) (6) and
(7) hereof (whether physical or otherwise) which are occasioned by or through
or in consequence, directly or indirectly of any of the said occurrences shall
be deemed to be loss which is not covered by this insurance, except to the
extent that the Insured shall prove that such loss happened independently of
the existence of such abnormal conditions.
In any action,
suit or other proceeding where the company alleges that by reason of the
provisions of this condition any loss is not covered by this insurance, the
burden of proving that such loss is covered shall be upon the Insured.
CONDITIONS OF INSURANCE
This Policy and
the Schedule shall be read together as one contract and words and expressions
to which specific meanings have been attached in any part of this Policy or the
Schedule shall bear the same wherever they may appear.
1. Notice of
any breakage shall be given to the Company immediately the name shall have come
to the knowledge of the Insured and the Insured shall furnish such particulars
as may be required by the Company, In no case shall the Company be liable for
any breakage not notified to the Company within ten days after the event
2. If the
premises become empty or disused the company shall not be liable to make any
payment under this Policy unless notice is given to the Company and the assent
of the Company signified by endorsement hereon.
3. If any
claim shall arise through or be attributable to the act, neglect or default of
any person or persons other than the Insured or his servants then the Insured
shall, at the request and cost of the Company, institute, take and prosecute
such proceedings at law or otherwise, and render such assistance as may be
necessary for the recovery from the person or persons by or to whose act,
neglect or default the damage may have been sustained or attributable and all
money so recovered shall be the property of the Company.
4. If at the
time of any claim arising under this Policy there be any other insurance
covering such loss the Company shall not be liable for more than its rateable
proportion of such loss.
5. This
policy may be cancelled by the Insured at any time by notice in writing
delivered to the Company in which case the Company shall retain or be entitled
to recover, as the case may be, the customary short term premium or minimum
premium for the time during which the policy has been in force. The Company may
at any time by giving mitten notice to the Insured cancel this policy. Notice
of cancellation may be delivered personally or posted by Registered Letter to
the insured at his or its address last known to the Company and the
cancellation of the policy shall be effective as from 4 p.m. on the seventh day
after posting or personal delivery by the Insurer. After cancellation by the
Company as aforesaid the Company veil on application by the Insured refund the
amount of unearned premium on a pro rata basis. Subject to any adjustment of
premium as may be required by the terms or condition s of this Policy.
6. If any
difference shall arise as to the amount to be paid under this Policy (liability
being otherwise admitted) such difference shall be referred to an Arbitrator to
be appointed by the parties in accordance with the Statutory provisions in that
behalf for the time being in force. Where any difference is by this Condition
to be referred to arbitration the making of an Award shall be a condition
precedent to any right of action against the Company.
7.
The due observance and fulfilment of
the provisions and conditions of this Policy so far us they relate to anything
to be observed or performed by the Insured and the truth of the statements and
answers in the said proposal shall be deemed conditions precedent to any
liability on the part of the Company to make any payment hereunder.
----000----
LOSS NOTIFICATION CLAUSE
Notwithstanding anything contained
herein to the contrary it is agreed that this insurance will not be prejudiced
by any inadvertent delays, errors or omission in notifying the Company of any
circumstances or events giving rise or likely to give rise to a claim under
this policy.
STRIKE, RIOT, CIVIL COMMOTION CLAUSE
It is hereby declared and agreed
1.
Notwithstanding anything stated in the policy to the contrary the
insurance under this policy covers loss and/or
damage, caused by or proximately or remotely connected with riot, strike
, lock out, labour, disturbances, civil
commotion, persons of malicious intention acting on behalf of or in
connection with any political organization
including fire and explosion, directly caused by any of the foregoing.
2. From this insurance in excluded war,
invasion act if foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution,
insurrection or military or usurped
power. In the case
of loss or damage the
insured shall have to prove
that such loss or damage
has not been caused by nor
proximately or remotely
connected with any of the above named perils.
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CANCELLATION
CLAUSE (30 DAYS)
Both the Insurer and the Insured are
entitled to terminate this Insurance upon 30 (thirty) days notice in writing
being given, Such termination should be effected of the registered letter.
When the Insurer terminates the
Insurance, he is obliged to return pro rate premium for the unexpired period of
Insurance, if it is the insured who terminates the insurance, premium will be
calculated on the short term rate laid down in the current File Insurance,
Tariff of Indonesia for the completed period of insurance.
-----000-----
TRANSIT VEHICLE LIMITATION CLAUSE
Notwithstanding
anything contained herein to the contrary it is agreed that all the transit
being made under this insurance shall be limited to Motor Vehicle belong to the
Insured only.
“Motor
Vehicle“ shall mean Four-Wheel Car (Sedan/Minibus/Jeep)
-----000-----
ELECTRONIC DATE RECOGNITION EXCLUSION
(EDRE) (A)
This
insurance does not cover any loss, damage, cost, claim or expense, whether
preventive, remedial or otherwise, directly or indirectly arising out of or
relating to:
(a)
The calculation, comparison,
differentiation, sequencing or processing of data involving the date change to
the year 2000, or any other date change, including leap year calculation, by
any computer system, hardware, programme or software and/or any microchip,
integrated circuit or similar device in computer equipment or non computer
equipment whether the property of the Insured or not; or
(b)
Any change, alteration or modification
involving the date change to the year 2000 or any other date change, including
leap year calculations, to any such computer system, hardware, programme or
software and/or any microchip, integrated circuit or similar device in computer
equipment or non computer equipment whether the property of the Insured or not.
This clause applies regardless of any
other cause or event that contributes concurrently or in any sequence to the
loss, damage, cost, claim or expense.
-----000-----
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