Builders Risks Insurance

QUOTATION SLIP

No. Q-053

TYPE                                   :     BUILDERS’ RISK INSURANCE

WORDING                          :     INSTITUTE CLAUSES FOR BUILDERS’ RISK 01/06/88 (Cl.351)

INSURED(S)                         :     PT. XXXXXX as Main Contractor and/or  XXXXXXXX as Principal and/or Sub Contractor(s) and/or Consultant(s) and/or Suppliers for their respective rights and interest

ADDRESS                            :     XXXXX

PERIOD                               :     XXX to  XXXX plus XXXX) weeks inclining test, XXXX) weeks Sea Trial and XXXXX weeks Delivery at 12.00 noon local time Both dates inclusive

RISK LOCATION                  :     Builder’s Yard of PT. XXXXX

                                                XXXXXXXX

OCCUPATION                     :    Ship Builder &  Graving Dock and/or Shipbuilding Industry and/or any other activities related thereto.

THE PROJECT  /

SCOPE OF COVER              :     The Design, Supply, Installation, Construction, Erection, piping, cabling  Mould loft, Material Procurement, Steel Construction, Keel Laying, Erection, piping System, Electrical & Navigation System, Main Engine + Auxiliary Engine, Others Equipment, Stern Arrangement, Accommodation, Painting, Lonching Alignment, Inclining test, Sea Trial and Delivery including all Testing and Commissioning of XXXXXXXXXXXXXXXXXX as per Contract Documents No. XXXXX  and all other facilities / works connected therewith and comprising of the entire works and/or parts and/or preparatory or auxiliary works of any kind and/or description and/or temporary work as well as permanent and all materials incorporated and to be incorporated therein.

COVERAGE                  :           All Risk of loss and/or damage to the subject-matter of insured caused and discovered during the period of this insurance whilst in the course of construction, erection, trials and delivery, including loading and unloading transportation, storage and installation of all the materials, machinery and equipment necessary in building the Insured vessel within the Insured value and within the Shipyard and whilst in the Insured Vessel is in the course of launching proceeding to and from docks or mooring alongside a wharf.

                                      

                                       (including the cost of repairing, replacing or renewing any defective part condemned solely in consequence of the discovery therein during the period of this insurance of a latent defect including all subsequent expenses incurred in completing launch due to failure of launch)

INTEREST & SUM INSURED    :     On the whole of the site formation of contract works on Hull and Machinery under construction as specified and described below, Hull and Machinery including but not limited to Supporting Materials and/or Main Propelling Machinery and/or Auxiliary machine and the like contract consumables, cable piping and all other materials including the complete reconstituting of contract records, media, core samples and the like, architects’, engineers’, and surveyor’ fees, owner supplied materials and equipment, on for which they are responsible whilst on the site of work and/or materials for the purpose of contract stored on the site of work, and all other contents, removal of debris, expediting expenses including all increased cost of working, Any other Sub Contractor’s Plant and Machinery and/or  employees’ effects, including any work of reconstruction, rectification or repair of any of the aforementioned property insured.

Type of Vessel	:	XXXXXXX
Length Overall	:	XXXXX
Length Perpendiculars	:
Breadth Moulded	:
Depth	:
Draft	:
Main Engine	:
Speed(Experiments)	:
Crew	:
Passengers	:
Comparador	:
Cadet	:

                                                SUM INSURED                                                         IDR.      XXXX

                                                (110% of Total Contract Value)

                                                                                                           

DEDUCTIBLES	:	Rp. XXXXX,- anyone accident and/or series of accident arising out of the same event.

EXTENSION CLAUSES / CONDITIONS          :

1.       Builders Risk Insurance Clauses

2.       Delivery at the Yard and to the Owner’s Yard.

3.       Distance Extension on Navigation (1.000 Nautical miles)

4.       Extended to Include Act of God and/or Natural Calamities (Earthquake, Volcanic Eruption, Tempest, Windstorm, Flood, Subsidence and Landslide and  Tsunami)

5.       Extra Charges Clause including Airfreight cost (expediting Expenses clause)

6.       Including Loss of/or Damage during Launching and Sea trial

7.       including One-Way Crossing Shipment (Single Voyage)

8.       Indonesian Jurisdiction Clause

9.       Institute Clauses for Builders Risk (Faulty Design) 01/06/88 (Cl. 352)

10.   Institute Clauses for Builders Risk (Strikes for War) 01/06/88 (Cl. 349)

11.   Institute Clauses for Builders Risk (Strikes) 01/06/88 (Cl. 350)

12.   Institute Clauses for Builders Risk 01/06/88 (Cl. 351)

13.   Institute Radioactive, Contamination, Chemical, biological, Bio-Chemical and Electromagnetic Weapons Exclusion Clause (Cl. 370)

14.   Interest of Other Parties

15.   LSW 1001 (Insurance) Several Liability Clause

16.   Nominated Loss Adjuster Clause

17.   Notification Clause

18.   Payment on Account Clause

19.   Professional Fees Clause

20.   Reinstatement Value Clause

21.   Removal of Debris Clause

22.   Time Adjustment Clause

23.   Waiver of Subrogation clause

24.   Y2K Clause (LSW 2003)

THE RATE                            :     XXX%

PREMIUM COMPUTATION   :     IDRXXXX x  XXX% = IDR. XXXX

                 

                                                                                                                                                                                                                                                                                                                                                                                                                                               

Jakarta, XXX                                                   Security (100%) :

Signed in and on behalf of                                          AGREED & ACCEPTE           D BY,

PT. XXXXX