5-2 承保範圍及不保事項 - ACE Group

1. Within fifteen (15) days after the end of each month the Insured shall invoice the Buyer for thevalue of the goods sold during that month by verifying related account records on the Buyer’sB2B website. In the event of Insolvency, the Insured shall invoice the buyer for all goods soldaccording to the records shown on the Buyer’s B2B website as soon as practically possible.2. Every six (6) months the Insured shall verify and print the account records related to theConsignment Stock Agreement, which are pasted on the Buyer’s B2B website. The Insuredshall have such records approved by its external independent financial accountant and thenhave such approved records submitted to the Buyer for acknowledgement of such approvedrecords.The Company shall have no liability unless and until an invoice has been rendered to the Buyer, at whichtime title to the goods shall be deemed to pass to the Buyer for the purpose of this policy.This endorsement attaches to and forms part of your Policy, which is amended only as set forth herein. Itis otherwise subject to the terms and conditions of your Policy.Insolvency & Default Insurance (Risks Attaching)Consignment Stock EndorsementIn consideration of the Premium paid, it is hereby understood and agreed that Section B. Definitions, 16.Eligible Shipments, is amended to include Shipments of Goods Insured made to the Buyer and withdrawnfrom stock by the Buyer in accordance with a Consignment Stock Agreement as part of a Contract of Sale.It is additionally understood and agreed that Section B. Definitions is amended to include the followingDefinition:Consignment Stock Agreement shall mean a separate (independent) written agreement or thearticles stipulated in the Contract of Sale between the Insured and the Buyer permitting the Buyer tostock on its premises Goods Insured owned by the Insured and to withdraw them from stock at itsconvenience.It is further understood and agreed that Section D. Conditions precedent is extended to include thefollowing additional conditions precedent to the Company’s liability in respect of individual claims:Consignment Stock AgreementIn respect of a Consignment Stock Agreement, the Insured shall ensure that:1. Within fifteen (15) days after the end of each month the Insured shall invoice the Buyer for thevalue of the goods sold during that month by verifying related account records on the Buyer’sB2B website. In the event of Insolvency, the Insured shall invoice the buyer for all goods soldaccording to the records shown on the Buyer’s B2B website as soon as practically possible.2. Every six (6) months the Insured shall verify and print the account records related to theConsignment Stock Agreement, which are pasted on the Buyer’s B2B website. The Insuredshall have such records approved by its external independent financial accountant and thenhave such approved records submitted to the Buyer for acknowledgement of such approvedrecords.The Company shall have no liability unless and until an invoice has been rendered to the Buyer, at whichtime title to the goods shall be deemed to pass to the Buyer for the purpose of this policy.245