PREMIUM PAYMENT CLAUSE
1) It is understood and agreed that the
premium due at the inception of this Policy shall be payable in the following
instalments:
2) In the event of a claim hereunder which
exceeds the instalments of premium paid on this Policy, the instalments of
premium then outstanding shall become payable forthwith.
3) Notwithstanding any cancellation provision
contained within the Policy, in the event that an instalment of premium is not
paid by its due date Insurers shall have the right to terminate the cover
afforded by the Policy to the Insured and any other party(ies) protected
thereby, whether by endorsement or otherwise, by the giving of not less than
Thirty (30) days notice in writing to the Appointed Broker. Notice shall be
deemed to commence from the date such notice is given by the Insurers.
Appointed Broker:
AVN 6A 17.10.96
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