19/10/2010

Marine & Storage cum erection policy
Principal Name and Address :
Dinshaw Dairy Foods Limited
K-41-42, 5 Star Industrial Estate
MIDC, Butibori
Contractor's Name and address:
IDMC Limited
124-128 GIDC Estate,
Vithal Udyognagar - 388 121
Customer reference/PO No:

Nagpur 441 122 DDFL/DRYPRJ/09-10/00004 dt.3-8-2010

Sub - Contractor's Name & Address:
Site Address: (if any)
Dinshaw Dairy Foods Limited
K-41-42, 5 Star Industrial Estate
MIDC, Butibori IDMC OAF No:
Nagpur 441 122 10-11/RN/U2/000089

Project Type: Duration of Project

Design, supply,installation and commissioning of 22-11-2010 to 21-5-2011
Refrigeration plant Months : 06 months

SR PARTICULARS SUM INS

A SCE PREMIUM

1 INDEGENIOUS STORAGE 22500000

1A IMPORTED STORAGE 0
2 ESC. STORAGE 25% 5875000
3 COST OF ERRECTION 1000000
5 SURROUNDING PROPERTY 100000
6 T.P. LIABILITY 100000
TOTAL 29575000
LESS DISC.

TERR. LOADING 23500000

TOTAL PREMIUM
ADD S.TAX AND S.UTY

TOTAL PREMIUM FOR SCE

MARINE PREMIUM
ALL RISK+SRCC 25875000
ADD S.TAX AND S.UTY

TOTAL PREMIUM FOR MARINE

 TOTAL PREMIUM SCE+MARINE

1+1 MONTH 2
FOR NEXT 4 MONTH 4
TOTAL

SR. DIVISIONAL MANAGER

THE NEW INDIA ASSURANCE CO. LTD.
4 dt.3-8-2010

RATE PREMIUM

2.20 49500
2.20 0
1.10 6463
2.20 2200
1.10 110
2.20 220
58493
80.0% 46794
11699
0.150 3525

15224
10.30% 1568

16792

0.030% 7763
10.30% 800

8562
 25354
2 2.00
0.05 0.20
2.20
TERMS AND CONDITIONS OFSCE POLICY

Sr. No Coverage(All risk + Specifically included)

1 Risk to be Covered: Fire, Riot & Strike & Allied

peril, sabotage, Natural calamities like
flood, Cyclone , Subsidence, Landslide,
Rockslide, Inundation, Storm, Collapse,
Water damage for water risk, Earthquake,
Terrorism, Theft and Burglary, Faults during
erection, Lack of Skill/Carelessness of
worker & handling risk, Electrical & Mechanical
failure during trial & testing.

2 Policy should be issued by competent authority/office,

which is authorized to settle the claim in case of total loss.

3 This policy should also cover engineering cost

on repairing/replacement (on damage),
expert/consultancy charges and testing & inspection
charges if any, due to an accident.

4 Insurance on replacement value basis. If there is an increase in

price or upward fluctuation, the policy should allow replacement.
In case of high value items, negotiate for replacement on air basis

5 Name and contact details of nearest branch should be provided

for contact at time of accident.

6 In case of loss, final payment shall be as per the valuation of

the surveyor.

7 There should be a provision in the policy for arbitration in case

of disputes.
A sole arbitrator with the consent of IDMC and the insurance co
should be appointed in case necessary. Venue should be Anand
or Baroda.

8 In case of goods being received by sea, if replacement of parts

is to be made, the parts should be allowed to be imported by air.

9 Time period of Salvage disposal

10 Time period of Final payment once final survey report is issued

11 FIR on local language should be acceptalble

12 Notice to the transporter etc. should be accepted by courier and POD shall
be treated as proof of delivery.

13 If value is written on LR shall be treated as for transportation purpose only.

In case of loss actual value shall h

14 Actual value should have to be provided by insured on documentary

evidence or report of surveyor.

15 In case of loss copy survey report shall be furnished to insured.

16 Survey fees shall be borne by insurer.

17 Incase there is damage of imported and if inspection of damage/repair is

to be conducted by the representative of foreign supplier, the travel, lodging,
insurance charges etc. shall have to be paid by insurance company
irrespective of fact whether the goods are finally surveyed as
damaged or not.

18 Fire due to short-circuit shall be deemed to covered within this policy.

GENERAL EXCLUSIONS

1 For SEC claims: 5% of the claim amount subject to Mini. Of Rs.10,000/-

2 For Testing period Claims: 5% of the claim amount subject to Mini. Of 30,000/-

3 For Fire/Explosion claims: 10% of claim amount subject to Mini. Of Rs. 30,000/-

4 War, invasion, act of foreign enemy, hostilities or war like operations

(whether war be declared or not), civil war, rebellion, revolution, insurrection,
mutiny, civil commotion, military or usurped power, martial law, conspiracy,
confiscation, commandeering a group of malicious persons or persons acting on
behalf of or in connection with any political organization, requisition or destruction
or damage by order of any government dejure or de facto or by any public,
municipal or local authority.

5 Nuclear reaction, nuclear radiation or radioactive contamination.

6 Willful act or willful negligence of the Insured or of his responsible representative

7 Cessation of work whether total or partial.

Note: All Above conditions must be endorsed in policy