BORNTOSEND INSURANCE TERMS AND CONDITIONS   Assured Borntosend and/or subsidiary or controlled companies as may be acquired from time to time for and on behalf of their clients for whom they have instructions to insure. Underwriters Astra Maritime Underwriting Managers (Pty) Limited (underwriting agents for the Hollard Insurance Company Ltd). Policy Number 62000 133 Territorial Limits To and from any place(s) in the world, but excluding shipments from or to Rwanda, Burundi, Angola, Democratic Republic of Congo and all other countries under United Nations sanction, unless otherwise permitted under legislative order. Countries currently under UN sanction are as follows: Bosnia-Herzegovina, Republic of Chechnya, Eritrea, Sierra Leone, Sri Lanka North of Latitude 7"30' and Federal Republic of Yugoslavia (Serbia & Montenegro). Policy Limits R1 000 000.00 any one client per waybill R2 000 000.00 any one client per conveyance In the even of the total value at risk exceeding the limits provided herein, except in respect of First Loss Limits, the Assured shall pay premium on the full value declared and Underwriters shall accept such premium and pay the full amount of any loss recoverable up to but not exceeding the original Policy Limits. Subject-Matter All goods and/or merchandise of every description packed and/or unpacked whether customary or otherwise but excluding jewellery, watches, precious stones, furs, bank and/or treasury notes, bullion, money, securities, stamps, patterns, manuscripts, plans, designs, explosives and all livestock. In addition to the above, Household Goods and Personal Effects insured under this Policy shall further exclude loss of or damage to plants, perishables, firearms and ammunition. Bases of Valuation Household Goods and Personal Effects: As declared but subject to a maximum of New Replacement Value at destination. Documentation / Papers or Similar Items (including electronic data storage items such as floppy disks, CD Roms and/or other computer software or hardware): These items are insured for the intrinsic value of the item/document/papers only. All Other Items: Items being Purchased or Sold: As declared, but subject to a maximum of Invoice Value plus any additional costs actually incurred plus 20% Inter-Branch Transfers: As declared, but subject to a maximum of Replacement Value at time of loss plus 20% Plant, Machinery and Equipment (New and/or Second-hand) As declared but subject to a maximum of New and/or Second-hand replacement value plus 20%. Any other voyage where the Basis of Valuation has not been specifically provided for. As declared but subject to a maximum of replacement cost (New and/or second-hand as applicable) plus 10% Duration of Cover This insurance attaches from the time the subject-matter is uplifted by Borntosend including loading, continues whilst in transit and until offloaded and delivered into warehouse and/or place of storage at final destination. Including to, from and whilst at packers premises or elsewhere en route for transit. Including whilst in temporary storage during the course of transit including during the course of all loading and/or unloading and/or discharge operations and in respect of containerised shipments, during the stuffing and unstuffing thereof. Special Consideration must be given to the following: Deliberate Storage - During the course of an insured transit In respect of storage incidental to a voyage insured under this Policy, cover is extended to include whilst the subject-matter insured is in storage during the course of transit for a period not exceeding 5 days from the date the subject-matter enters the storage location. Scope of Cover Cover is against "All Risks" (being all insurable risks) of physical loss of or damage to cargo, in terms of the Institute Cargo Clauses (A) or (Air) and the applicable Institute War & Strikes Clauses and as defined in the policy wording. Special consideration must be given to the following: Household Goods and Personal Effects (New and/or Used/Second-hand items): For professionally packed items or items packed in their original commercial packaging cover provided is in terms of the Institute Cargo Clauses 'A' as defined in the policy wording. For goods which are not professionally packed cover provided is restricted in terms of the Institute Cargo Clauses 'B' as defined in the policy. Used/Secondhand/Unpacked/Unprotected items: Cover provided is restricted in terms of the Institute Cargo Clauses 'B' as defined in the policy. Cover Exclusions This list is not exhaustive but is intended to highlight some of the major exclusions. Should you have any queries or concerns as regards any of these exclusions please advise Eikos Risk Applications accordingly. Losses which are inevitable and/or not fortuitous, including trade ullages or trade losses and ordinary wear and tear Losses arising from delay, including loss of market Any and all consequential losses or expenses incurred and/or loss of profits Losses arising from the insufficiency/inadequacy of packing and/or stowage Losses arising from inherent vice (being the natural failure of a commodity under certain conditions, for example: spontaneous combustion, rust, oxidisation, discolouration, evaporation, sprouting, warping, etc.) Losses arising from the unfitness of the carrying conveyance or container Mechanical derangement unless caused by an insured peril Rejection of goods by port, customs or any other authorities Where the Assured fails to act as a prudent "un-insured" (ie. without due diligence, care and caution), including the wilful misconduct of the Assured and fidelity risks (ie. the infidelity of the Assured's employees) Losses where the Assured has no insurable interest War risks on land Politically motivated riot, rebellion, insurrection, etc. and/or acts of terrorism Third party liabilities (including Charterer's liabilities) Radio-active contamination of subject-matter Failure to pay or collect accounts Losses arising from or related to the "Millennium" in any way Liabilities (ie. 3rd party) arising out of the use of containers Losses arising from the abandonment of cargo, be it forced or otherwise Sendings and/or transactions which are illegal. Claims: Please submit all claims immediately when possible, but at least within seven days from delivery or the claim may be repudiated by the underwriters.