AMICA

“ABANDONMENT, TOTAL LOSS, CLEAN-UP EXPENSES AND COSTS OF REMOVAL AND DISPOSAL (DESTRUCTION) OF DEBRIS, THIRD PARTY LIABILITY”

Paramount cargo clauses CE205 of the Royal Belgian Association of Marine Insurers

dated 19th December 1996

Free and non-committal translation

In case of dispute regarding the interpretation of the wording, the Dutch and/or French version prevail

Abandonment Clause

Notwithstanding any legal or contractual arrangements, Insurers shall have the right to accept or decline notice of abandonment. There shall be no right of appeal against Insurers’ decision. In the event of abandonment being declined, the claim shall be settled as a total loss.

Total Loss Clause

Whenever a claim is settled as a total loss following non-acceptance of abandonment by Insurers, the Assured shall remain the owner of the goods and shall be entitled to any salvage value.

Clean-Up Expenses and Costs of Removal and Disposal (Destruction) of Debris Clause

Clean-up expenses and costs of removal and disposal (destruction) of debris are covered when incurred with the consent of Insurers, or in the implementation of measures taken or ordered by a competent authority, or when reasonably incurred by the Assured in the circumstances.

The expenses so incurred shall be reimbursed by Insurers, in excess of the insured value, up to a maximum of 25 % of the insured value of the goods.

The limitation of 25 % shall not apply if the amount of the costs is less than 2.000.000 BEF.

Subject to express agreement, the limits referred to above may be increased in consideration of an additional premium to be agreed.

Third Party Liability Clause

This insurance covers neither the contractual nor the extra-contractual liability of the Assured in respect of any loss and/or damage caused by the goods insured.

However, in the case of abandonment of the insured goods, Insurers shall become liable for any loss and/or damage caused by the abandoned goods from the moment they assume title of the said goods.

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