5-2 承保範圍及不保事項 - ACE Group

INSURING AGREEMENTThe Insurers shall indemnify the Insured in accordance with the provisions of Article 6, Proofand Payment of Claims and Recoveries, for Loss on an Insured Transaction caused by theDefault of the Buyer which remains unpaid for the duration of the Waiting Period.The obligations of each of the Insurers are several and not joint, and are limited solely (1) withrespect to each Buyer, to each Insurer's respective proportion of the applicable Credit Limit orCountry Limit whichever is less, (2) with respect to each Country, to each Insurer's respectiveproportion of the Country Limit, and (3) with respect to all Insured Transactions, to eachInsurer's Maximum Policy Limit of Liability, each as set forth in the Insurer's Acknowledgementof Policy Limit of Liability attached hereto. Each of the Insurers is independently andseparately responsible for the determination of its liability under this Policy.EXCLUSIONSWe will not apply to the Deductible or indemnify you for any loss:A. with respect to any transaction which does not meet each requirement of an InsuredTransaction; orB. with respect to any Buyer on which the total amount of Loss on Insured Transactions doesnot exceed the Non-Qualifying Loss Amount; orC. if, on the date of entering into the Insured Transaction, any amount owing from the Buyerto you on any transaction is overdue more than 60 days if the Buyer is located in theUnited States or Canada, orFor purposes of this provision: (a) the total amount overdue more than 60 days from theBuyer, which is less than the lesser of $500,000 or 10% of the amount of the applicableCredit Limit, or (b) any amount which is disputed by the Buyer and the disputeacknowledged by the Insured, shall not be included in the determination of overdueamounts; orD. if, on the date of entering into the Insured Transaction:1.the Buyer is the subject of proceedings under any laws relating to bankruptcy,insolvency, or relief of debt unless approved by us in writing subsequent to the date suchproceedings began; or2.you have knowledge or information of any circumstances that may reasonably beexpected to result in a loss, unless approved by us in writing; orE. caused by you or any of your agents, including an express or implied agreement by you oryour agent to excuse non-payment; orF. where a dispute exists between you and the Buyer, until you have established theindebtedness to be a valid and legally enforceable indebtedness of the Buyer in the courtsof the Buyer's country or you have settled the dispute with our prior written approval; orG. with respect to sales to affiliates or subsidiaries, unless you have disclosed therelationship to us and the Buyer has been approved by us in a Special Buyer Credit Limit;357