5-2 承保範圍及不保事項 - ACE Group

(d) the Insured is aware to be in financial difficulties prior to inception of the Policy.Payment obligations that are disputed by the Buyer in writing will not be considered overdue for thepurpose of this clause.9. Any Loss arising in any country not specified in the Policy Schedule or in an endorsement.10. Any debts that are purchased or otherwise acquired by the Insured from any entity other than aSupplier unless agreed in writing by the Company and evidenced by an endorsement.Any Loss insured elsewhere.11. Any post-maturity, penalty or other interest accrued on balances unpaid after the original Due Date.12. Nuclear reaction or nuclear radiation or radioactive contamination.13. War between the People's Republic of China, France, the United Kingdom, the Russian Federationand/or the United States of America.Insolvency & Default Insurance (Losses Attaching) Factoring –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#16.Eligible Shipments, is amended to include Shipments of Goods Insured made to the Buyer by the Supplierand withdrawn from stock by the Buyer in accordance with a Consignment Stock Agreement as part of aContract of Sale.It is additionally understood and agreed that Section B. Definitions is amended to include the followingDefinition:Consignment Stock Agreement shall mean the written agreement between the Supplier and theBuyer permitting the Buyer to stock on its premises Goods Insured owned by the Supplier and towithdraw them from stock at its convenience.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 cause the Supplier to ensure that:1. Within 5 days after the end of each month the Buyer shall submit to the Supplier a return of goodswithdrawn from the consignment stock during that month and on receipt of such a return theSupplier shall immediately invoice the Buyer for the value of such goods; and2. The Supplier shall make physical checks of consignment stock held by the Buyer at frequent andirregular intervals.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 purposes of this Policy.247