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中国大地财产保险股份有限公司
国内贸易短期信用保险条款
总则
第一条 注意事项
下列注意事项构成本保险合同的一部分。
这是一个短期国内信用保险合同。本保险合同含有部分专属本合同的特定条款和要求，这些条款和要求与被保险人可能已经购买的其它保险合同有所不同。
请认真阅读本保险合同的各项条款。
本保险合同的抬头和标题中的说明仅供参考和阅读方便，并不存在任何合约性的意义。
第二条 保险合同
保险明细表中指明的保险人，向保险明细表中指明的被保险人，签发保险合同。本保险合同由保险条款、投保单、保险明细表和其他任何注明与保险合同共同使用的批单或特别约定、及所有信用额度批单组成。本保险合同的效力高于双方先前就本合同或合同相关主要事项所作的任何声明、承诺或表述。
第三条 承保的损失
本保险的目的是，如果下列任何一项致损原因发生，导致买方拖欠应付款造成被保险人的损失，保险人根据保单条款规定，按照约定的承保比例负责予以赔偿：
（一）买方无清偿能力
本保险合同下承保的 “买方无清偿能力”包括以下情形：
1、买方已接到法院关于破产、清算的判决或裁定；或买方已由法院委任的清算人接管；
2、买方被法院宣告破产；
3、强制执行法院判决所得仍不能全数清偿买方应付款；或
4、根据法院裁决，为维护买方债权人的一般利益而订立的有效转让、合并或其他安排；或
5、为结束买方营业通过了一项有效决议；或
6、所有买方财产由指定的管理机构或其他监督人或管理人接管；或
7、被保险人能够证明买方的财务状况甚至已无法支付部分应付款，即便是法院判决强制执行、申请买方破产或清算的判决也不能预见可获得有效的赔偿，甚至不能补偿诉讼成本，对此情形保险人也表示认可。
8、经保险人认可的, 相当于以上第1目到第7目所提及的类似情况或事件。
（二）买方延期付款
本保险合同下承保的“买方延期付款”是指，买方在最初付款到期日后的6个月内未能根据合同将应付款支付给被保险人。
第四条 保险人对以下各项不承担赔偿责任：
（一）被保险人的过失
保险人不承担因被保险人或被保险人的代理未履行合同任一条款或未遵守任一法律（包括任何有法律效力的判决、法令或法规）的规定而导致的任何损失。
（二）放射性污染
保险人不承担被保险人遭受的因爆炸性核装置或其零部件、或核燃料、核燃烧或核废料带来的电离、放射性、有毒性、爆炸性或其他有危险性或污染性物质影响而直接或间接导致的、促成的或引发的任何损失。
（三）五大国
保险人不承担因下列国家之间的战争（不论在敌对爆发之前还是之后）而直接或间接造成的任何损失：中国、法国、英国、俄联邦和美国。
（四）利息/罚金/损失/成本费
保险人不承担下列原因造成的任何损失：
1、最初付款到期日之后累计的任何利息；或
2、不论是否有合同约定，被保险人可从买方获得的除应收货款之外应由买方支付的任何罚金或损害赔偿；或
3、如果买方以任何理由不付全部或部分应付款，被保险人在追收应付款过程中或被保险人在为自己进行辩护过程中所产生的任何法律和其他费用；或
4、任何银行手续费，除非是在与买方的销售合同中被定为应收款的一部分。
（五）其他保险
保险人不承担任何被保险人可以通过投保的其他保险而获得赔偿的损失，或被保险人有权因其他保险而受益或获得赔偿的损失。
（六）拒收货物
保险人不承担因买方未能接受或拒绝接受已发送货物而造成的损失。但是，如果这种不接受或拒绝接受违反了销售合同，则此除外责任不再适用。
（七）国家或政府行为
保险人不承担因国家和各级地方政府部门以及其他官方机构所采取的决定，导致合同无法履行或是应付款无法偿还而造成的损失。
（八）天灾
保险人不承担任何直接或间接由旋风、台风、水灾、地震、火山爆发、海啸等天灾或其他不可抗力造成的损失。
承保的合同和保险责任的开始
第五条 承保的合同
本保险合同适用于被保险人与买方所签订的，与保险明细表上规定的贸易与服务相关的销售或服务合同。合同须以书面形式订立，且真实、合法、有效。合同必须注明待售产品（或待提供服务）的性质和数量以及付款条件与期限，付款期限绝对不能超过保险明细表中规定的最长信用期限。除非保险人书面同意，否则本保险合同不适用于以下合同：
（一）被保险人与相关联的买方所签订的合同。关联买方在此包括由被保险人直接或间接控制的买方、与被保险人有直接或间接利益关系的买方、或在被保险人与买方之间存在家庭亲属关系，或存在贷款或担保协议；
（二）被保险人与不从事商业行为的个人买方或与未正式注册的个体工商户所签订的合同；
（三）被保险人与国家机构、全国性或地方性政府部门与机关、学术机构、组织以及任何不能宣布破产的实体所签订的合同；
（四）试销合同和寄售合同。
第六条 保险责任的开始
信用风险应出自于保险明细表上保险期限内开始承保的那些合同。当货物被发送给买方，或当为提供的服务开立的发票被提交给买方时，保险责任即开始。为已发送的货物或已提供服务而开的发票必须在保险明细表上规定的发票开立期内开出。此发票开立期从货物发送之日或服务合同签订之日算起。
第七条 货物发送
被保险人或被保险人的代表出于向买方运送产品的目的而根据与买方的贸易合同中规定的条款将货物的占有权转移给买方时，可视为货物被发送。
信用额度的批复与取消保险
被保险人的每一个买方必须获得一个信用额度。一旦发生索赔，保险人不承担超过信用额度乘以保险明细表中的约定承保比例以上的损失。
第八条 保险人批复的信用额度
被保险人可获得保险人给买方批复的信用额度。信用额度由保险人审核决定，并可以在信用额度的批单上附以保险人认为合适的额外条件，这些条件可以与保险合同条件不同。除非保险人取消或更新保险合同，否则保险人批复的信用额度将一直有效直至保险合同到期。
第九条 遵守信用额度规定
如果被保险人未遵守与信用额度相关的规定、条件，保险人可依法不承担任何损失。
第十条 保险人取消或降低信用额度
保险人就某一合同或某一买方可以随时以任何理由书面通知被保险人取消其信用额度及承保责任。保险合同不承保在此书面通知中规定的日期当天或之后发送的货物或（针对服务）提交的发票。保险人也可以随时以任何理由书面通知被保险人降低某一买方的信用额度。此降低信用额度的通知适用于所有在通知规定日期的当天或之后发送的货物或（针对服务）提交的发票。
申报、保费和费用
第十一条 申报
被保险人必须向保险人申报本保险所承保的合同项下所有发送的货物或为服务开立的发票的销售价格（扣除增值税或其他类似的税）。如果情况特殊，即使是零申报也必须提交申报单。申报单必须在保险明细表中规定的时间之前提交给保险人。
第十二条 风险保费
被保险人应支付与每一份承保合同相关的保费及所有相应的保费税或其他类似税。保费按照保险明细表中规定的保费费率以及申报的业务金额计算。保费必须在保险人规定的时间内支付。
第十三条 年费和信用额度审核费
被保险人应为每一个保险合同有效期缴纳年费。保险人会就每一信用额度的批复和信用额度年度审核向被保险人收取一定的信用额度审核费（费用在保险明细表中有规定，保险人可以对此费用进行调整）。所有上述费用必须在保险人规定的时间内支付。
付款到期日的延长
第十四条 付款到期日的延长
如果需要，被保险人可以在合同规定的付款到期日后再给买方延长一定时间的赊销期，或者以书面形式同意延长付款到期日，前提是被保险人给予或同意的延长期不能超过保险明细表中规定的最高延长期。除非保险人书面同意，如果买方未能在被保险人首次给予或同意的这段延长期内付清全部欠款，被保险人则不能再次给予或同意延长买方的付款期限。在与买方的合同中被保险人不能同意任何付款到期日可被延长的条款。
第十五条 最高延长期
最高延长期是从最初付款到期日后的第一天算起，止于下列二者之一的到期日：
（一）保险明细表中规定的最高延长期的天数；或
（二）在比最高延长期短的情况下，被保险人给予或同意的付款延长期。保险人可随时书面通知改变最高延长期。
第十六条 最高延长期过后的免责
除非保险人书面同意，否则如果最高延长期到期后买方仍有欠款，保险人将不再承担被保险人在最高延长期到期日过后仍向该买方发送货物或（针对服务）提交发票而造成的损失。
第十七条 汇票等
除非被保险人事先获得保险人的书面同意，否则以上付款到期日的延长不能用于汇票、承兑汇票、本票、见单即付、跟单即期汇票、付款交单或是信用证等付款方式。
（一）本保险的投保单构成本保险合同的基础。投保人/被保险人应当履行如实告知义务，并在任何时候及时告知所有可能影响承保风险的情况。
投保人因重大过失未履行如实告知义务，对保险事故的发生有严重影响的，保险人对于合同解除前发生的保险事故，不承担赔偿保险金的责任，但应当退还保险费。
（二）如果被保险人在投保单中提供的信息发生重要或实质上的变化（特别是被保险人的经营性质，经营范围或法律地位），被保险人必须立即通知保险人。
（三）被保险人同意允许保险人实施核查的权利，以证实被保险人履行了其在保险合同项下的所有义务。在保险人核查期间，被保险人必须配合由保险人雇用的审计人员或其他独立方对其提供的信息和文件进行准确的核查。
（四）被保险人必须尽快披露而且在任何时候继续披露对本保险合同项下所承保的风险可能产生影响，或者可能影响保险人接受或评估所承保的风险或保险合同项下所承保的卖方的任何信息和文件。
第十九条 减少损失和获取追偿额
（一）通知
发生下列任何可能导致损失的事件，被保险人应立即通知保险人。这些事件包括但不限于：
1、最高延长期后20天买方未付款；或
2、买方要求对付款方式进行不利于被保险人的修改，或要求延长的付款期限超过最高延长期；或
3、付款条件是交单付现或承兑交单的情况下，在第一次提示单据时买方未接收货物或单据；或
4、买方即将或已经无偿付能力；或
5、被保险人有理由相信，买方无法或可能无法履行或遵守贸易合同条款的约定；或
6、买方未能支付汇票或支票；或
7、针对有欠款的买方启动任何法律程序。
（二）克尽职守
被保险人应克尽职守，采取一切可行的措施防止、减少损失。上述措施包括但不限于确保所有针对贸易合同中的货物、买方和第三方的权利均已得到正当的保护和行使。
（三）采取一切措施
被保险人应采取保险人要求的与潜在损失或实际损失有关的一切措施，包括但不限于启动法律程序以及保险明细表中规定的其他必要措施。若保险人要求，被保险人应将所有与贸易合同货物、买方或第三方相关的权利转让给保险人，或指定保险人作为被保险人的代理或律师，有权以被保险人的名义采取法律手段，或授权任何人追收应收款。若被保险人重新取得合同货物，且事先征得保险人书面同意将该货物再次销售，则计算被保险人损失时，再次销售所得货款与买方应付款之间的任何差额都会被予以考虑。
（四）信息
被保险人应向保险人提供保险人要求的所有信息与材料。
（五）费用分摊
保险人将分摊被保险人履行上述义务时产生的适当且合理的费用。保险人的分摊比例将与被保险人全部损失金额（包括任何未承保部分）中保险人的责任比例一致，或者被保险人若不履行上述义务而可能遭受的损失中保险人的责任比例一致。但是，保险人不分摊被保险人的管理费用。若被保险人未采取保险人建议的或保险明细表中要求的追收方式追收应收款，则保险人也不分摊因此而产生的费用（但并不损害保险人拥有的任何其他权利）。
（六）未遵守规定
若保险人赔偿后，被保险人未遵守本条的任一约定，则被保险人应按照保险人的书面要求退还赔偿金。
索赔
第二十条 索赔申请/赔付时间
被保险人应在最高延长期到期后6个月内，使用保险人提供的表格提出索赔并提供所有可获得的信息。如果保险人确认承担赔偿责任，将根据损失金额或买方信用限额（以较低者为准）按照承保比例进行赔付。保险人将在收到要求提供的所有信息、材料之日或定损日后的30天内赔付。
第二十一条 损失计算
保险人计算损失金额时，损失金额为买方应付款减去 (i)被保险人或买方有权用付款、抵消、反索赔、扣减或其他方式在定损日已接受，已贷记，而买方已支付，已借记买方账户的金额，以及 (ii)被保险人节省的任何费用。赔偿金额将包括截至到付款到期日产生的利息。
第二十二条 损失确定日期
被保险人的损失金额将按如下损失确定的日期核定：
（一）无偿付能力，为无偿付能力发生之日；
（二）拖欠，最初付款到期日后6个月。
第二十三条 保险人的最大责任限额
保险人对保险合同期间内保险责任开始的所有贸易合同应承担的最高责任限额为保险明细表中约定的本保险合同期间内保险人的责任限额。实际上，该额度可能会低于单一信用限额或累计信用限额的赔偿比例。
第二十四条 已收应付款和追偿款的分配
（一）按时间顺序分配
本保险合同约定，与任何贸易合同（包括本保险合同未承保的贸易合同）有关的所有款项，无论何时收回，均应按照付款到期日的时间先后顺序冲抵被保险人与该同一买方的所有贸易合同项下的应付款。如果此款项未能用于冲抵贸易合同项下应付款而保险人又已经赔付，该款项应汇给保险人，在这之前，被保险人被认为是受保险人委托接受并持有该笔款项。
（二）追偿款
无论是被保险人，被保险人的代表或保险人，在定损日后收回、追偿或变现的与贸易合同有关的所有款项均为追偿款。所有追偿款应立即汇给保险人。汇款之前，被保险人被认为是受保险人委托接受并持有此款项。保险人收到汇款后，追偿款将按照保险人和被保险人承担损失的比例分配。
（三）未遵守规定
如果保险人赔偿后，被保险人未遵守本条的任何约定，则被保险人有责任按照保险人的要求退回赔款。
第二十五条 保险合同权利的转让
赔款接受人
未经保险人事先书面同意，被保险人不得转让或转移本保险合同或保险合同项下的任何利益。然而，根据保险人提供的表格，被保险人可以要求将赔款付给一个指定的赔款接受人，但是被保险人仍应履行本保险合同项下的义务。
第二十六条 合同权利的转让
如果转让贸易合同权利不与贸易合同条款相违背，且索赔时被保险人向保险人提供相关细节，被保险人可以转移或转让贸易合同权利。然而，保险人对损失不负赔偿责任，除非：
（一）被保险人能证明是被保险人而不是贸易合同权利转移或转让后的受益人遭受了损失，而且
（二）此受益人以保险人可以接受的形式向保险人作出书面承诺，不对任何追偿款的保险人份额提出索赔要求。
第二十七条 遵守约定并保密
（一）被保险人按期支付所有保费和其他费用，履行并遵守保险合同或投保单的规定。不遵守此规定的，保险人在不违反《中华人民共和国保险法》规定的情况下，有权保留已收保费并自保险人书面通知被保险人之日起终止本保险合同。除非保险人书面同意，任何与保险合同规定有关的变更或弃权均不具约束力。
（二）未经保险人书面同意，被保险人的任何违反保险合同规定的行为将不能被视为保险人已经接受或谅解。保险人放弃针对被保险人违反或不遵守保险合同规定采取行动的权力，并不意味着保险人会针对被保险人随后的类似行为做出同样的反应。
（三）对于保险人所提供的一切信息，被保险人必须视为机密，且不应将其泄漏给第三方。保险人将不承担因第三方获取机密信息而引起的损失。所有信息，包括但不仅限于信用限额的批复，并无责任约束。如被保险人因使用这些信息而造成损失，特别是被保险人由此做出的商业决定而引起的损失，保险人不承担任何责任。
（四）若被保险人不履行或遵守保险合同项下规定的义务和规定，且对保险标的危险程度的显著增加、保险事故的发生或保险人的赔偿金额有严重影响，保险人将不承担赔偿责任，并且有权立即终止保险合同，除非中华人民共和国的法律有不同规定。
（五）被保险人不可将本保险合同的存在透露给任何买家，无论该买家是否在承保范围之内。
第二十八条 共同连带义务
保险明细表列明的所有被保险人应共同履行连带义务。
第二十九条 自留风险
超出保险人应承担保险责任之外的金额被视为未承保风险。该风险将由被保险人自行承担。
第三十条 争议和付款担保
（一）争议：无论买方以任何理由拒付合同项下部分或全部应付款，或拒绝履行合同所规定的义务，保险人将不会确认损失。
（二）付款担保：如果担保或保证是保险人承担保险责任的一个前提条件，那么此条件中列明的当事国法庭必须已做出担保人或保证人应支付欠款的最终判决，否则保险人将不会调查损失。
第三十一条 错误陈述或欺诈行为
被保险人一方（或于本保险合同或其项下收益中有合法受益权的任何一方）对本保险合同（包括投保单）项下的告知和通知内容、保险损失索赔或适用本保险合同的任何合同的有关情况，如果作出错误陈述（存在重大过失且对保险事故的发生有严重影响）或隐瞒、欺诈行为，将可依法导致保险人主张保险合同无效、解除保险合同、不承担保险责任或不退还保险费，而且被保险人有义务返还保险人在保险合同项下已支付的款项，除非中华人民共和国的法律有不同规定。
第三十二条 冲抵
保险人有权将本保险合同项下任何应付款与被保险人应付给保险人的款项进行冲抵（支付本金之前先付利息），无论此款项是否在本保险合同项下。被保险人无权将被保险人应付给保险人的款项与保险人应付给被保险人的款项进行冲抵,无论此款项是否在本保险合同项下。
第三十三条 货币
（一）保险合同中的货币应使用保险明细表约定的币别，此币别将用于申报、支付保费、计算任何损失金额。如果被保险人在合同中使用了不同于约定币别的货币，则须将合同金额按保险责任开始当月最后一个工作日的汇率转换成等值的约定货币。
（二）如果收到了其他币种的追偿款，则应由被保险人或被保险人的代表按收款日的汇率兑换成指定货币。
（三）某一特定日期的汇率应是中国人民银行当日公布的收盘价的中间价，如果中国人民银行当日没有公布此汇率，则以下一日公布的汇率为准。
第三十四条 承保条件的修改
保险人有权在任何时间以书面通知的形式修改与某一特定买家签订贸易合同相关的保险合同条款。这样的修改适用于通知中注明的日期后出运的货物，或（针对服务）提交的服务发票，此注明的日期不会早于通知日期。
第三十五条 被保险人破产
如下列情况发生，则本保险合同将立即自动终止其效力：
（一）对被保险人做出破产、停业或接管的命令；或
（二）通过一项使被保险人停业的有效决议；或
（三）对被保险人的任何财产任命管理人，其他接收人或经理人；或
（四）为了维护卖方债权人利益而做出有效的转让、合并或其他安排。
第三十六条 法律、仲裁和语言
（一）本保险合同适用保险明细表中规定的法律并根据该法律进行解释，并受根据以下条款规定组成的仲裁法庭的管辖。
（二）任何由本保险合同引起，产生有关的争议，包括但不限于与保险合同的构成和有效性的争议，以及是否在保险合同期限内或之后发生的争议，应提交中国贸促会作出最终仲裁。仲裁应在保单明细表中列明的仲裁地进行，并按照仲裁申请之日起有效的中国贸促会的仲裁规定执行。其仲裁决定应是最终的并对双方都有约束力。
（三）保险合同语言应是保险明细表中列明的语言。如果由保险人提供保险合同的翻译版本，那么在含义或结果上存在任何冲突或差异时，则以保险合同语言为准。
Short-Term Domestic Credit Insurance Clause
Chapter 1 General rules
Article 1 Notice
The following Notice is incorporated in and made part of this Policy.
This is a Short-Term Domestic Credit Insurance Policy. The insurance period under this policy is no more than one year subject to the date of the commencement and date of termination indicated in the schedule. This Policy has certain provisions and requirements unique to it and may be different from other policies you may have purchased.
Please read this Policy carefully.
The descriptions in the headings and titles of this Policy are solely for reference and convenience and do not lend any meaning to this agreement.
Article 2 The Policy
We, the Insurer named in the Schedule, have issued this Policy of insurance to you, the Insured named in the Schedule. This Policy includes, without limitation, these General Terms, the Proposal, the Schedule and any endorsements or other documents expressly incorporated thereby and all Credit Limits. This Policy supersedes any previous statement, promise or representation by the parties relating to the agreement or its subject matter.
Article 3 Losses Covered
The purpose of this insurance is to indemnify you, in accordance with the terms of this Policy, up to the Covered Percentage of any loss you may sustain because of the occurrence of any of the following causes of loss, provided in each case that there is an amount owing from the buyer which shall constitute such loss:
A. Insolvency
The Insolvency of any of your buyers. For the purposes of this Policy "Insolvency"
shall occur if:
a. a bankruptcy, winding-up or administration order is made against the buyer; or
b. the buyer is declared bankrupt by the People’s Court; or
c. in the course of execution of a judgment the levy of execution fails to satisfy the debt in full; or
d. a valid assignment, composition or other arrangement is made for the benefit of the buyer’s creditors generally according to a decision of the People’s Court; or
e. an effective resolution is passed for the winding-up of the buyer; or
f. a liquidation committee, an administrative or other receiver or manager of any of the buyer ’s property is appointed; or
g. you show, to our satisfaction, that the buyer ’s financial state is such that even partial payment is unlikely and that to enforce judgment or to apply for a bankruptcy or winding-up order would have no foreseeable result other than one disproportionate to the likely cost of the proceedings.
h. such situations or events which, in our sole opinion, in substance or effect are equivalent to the situations and events described above.
B. Default
The failure of a buyer to pay you the amount owing under the contract within 6
months of original due date of payment.
A. Failure by You
We shall not be liable for any loss you may sustain where there has been any failure
by you or by any person acting on your behalf to fulfill any of the terms and
conditions of the contract or to comply with the provisions of any law (including any
order, decree or regulation having the force of law).
B. Radioactive
We shall not be liable for any loss directly or indirectly caused by, contributed to
Contamination by or arising from the ionising, radioactive, toxic, explosive or other
hazardous or contaminating properties or effects of any explosive nuclear assembly or
component thereto, nuclear fuel, combustion or waste.
C. Five Great Powers
We shall not be liable for any loss arising directly or indirectly from war (whether
before or after the outbreak of hostilities) between any of the following countries:
People’s Republic of China, France, the United Kingdom, the Russian Federation and
the United States of America.
D. Interest/penalties/damages/costs
We shall not be liable for any loss you may sustain in respect of
a. any interest accruing after the original due date of payment, or
b. any penalties or damages, whether contractual or otherwise, which you may be
entitled to be paid by the buyer in addition to the amount owing, or
c. any costs, legal or otherwise, which you incur in pursuing payment of any amount owing where the buyer claims for any reason whatsoever to be justified in withholding payment of all or part thereof or in defending any proceedings brought against you, or
d. any banking costs, unless contractually agreed to be part of the amount owing from the buyer.
E. Other Insurance
We shall not be liable for any loss you may sustain where such loss is (or would be
but for the existence of this Policy) capable of being covered by any other insurance
held by you or from which you may be entitled to benefit or receive payment.
F. Non-acceptance of goods
We shall not be liable for any loss you may sustain where the buyer has failed or
refused to accept good despatched. However, if such failure or refusal is in breach of
the contract, this exclusion shall not apply.
G. State or government action
We shall not be liable for any loss arising from any decision taken by a State or
government department, local authority or any entity which cannot be declared
insolvent that either hinders execution of the contract or prevents payment.
H. Natural Disaster
We shall not be liable for any loss directly or indirectly caused by, contributed to by or
arising from cyclone, flood, earthquake, volcanic eruption or tidal wave or other
forms of natural disaster or force majeure.
Chapter 4 Contracts covered and Commencement of Cover
Article 5 Contracts Covered
The Policy applies to all contracts you make with buyers in your country in
connection with your Trade as specified in the Schedule. Contracts must be true,
legally effective, binding and in writing. They must also specify the nature and
quantity of the goods to be sold (or the services to be performed), as well as the terms
of payment, which must not exceed the Maximum Credit Terms specified in the
Schedule. Unless we agree otherwise in writing, the Policy does not apply to:
a. any contracts you make with buyers over whom you have direct or indirect control
or in whom you have a direct or indirect interest or who have such control over or
interest in you or where there is any family relationship or there exists any loans or
guarantees between you and the buyer, either directly or indirectly;
b. any contracts you make with private individuals, sole proprietorships or partnerships;
c. any contracts you make with state or governmental departments, local authorities, institutions or organisations or any entity which cannot be declared insolvent;
d. trial/approval contracts or to sales from consignment stock.
Article 6 Commencement of cover
Risk shall attach in respect of those contracts for which cover commences during the Policy Period specified in the Schedule. Cover commences when the goods are despatched or, in the case of services, when each invoice for services performed is submitted to the buyer. Invoices for goods despatched or services performed must be submitted to the buyer within the Invoicing Period specified in the Schedule. This Invoicing Period commences on the day of despatch of such goods or, in the case of services, on the date when the contract is made.
Article 7 Despatch
Despatch is deemed to be made when you, or anyone acting on your behalf, parts with possession of the goods for the purpose of transmitting them to the buyer in accordance with the terms and conditions of the contract.
Chapter 5 The Credit Limit and Withdarawal of Cover
You must have a Credit Limit for every buyer. In the event of a claim, we will not be liable to pay more than the Covered Percentage, specified in the Schedule, of the Credit Limit.
Article 8 Credit Limits
You may obtain a Credit Limit from us. The amount shall be determined from us at our discretion and shall be approved on the terms and conditions we think appropriate. Those terms and conditions may vary any provision of the Policy. Credit Limits from us remain valid until expiry of the Policy Period unless we cancel them or renew the Policy.
Article 9 Compliance with Credit Limit
We shall not be liable for any loss where you have not complied with the terms and
conditions of the Credit Limit.
Article 10 Withdrawal by Us
We may at any time and for any reason by written notice to you cancel any Credit
Limit and withdraw cover in respect of any contract or buyer. The policy will not
apply in relation to goods despatched or, in the case of services, to invoices submitted,
on or after the date specified in the notice. We may also at any time and for any reason
by written notice to you reduce any Credit Limit and such reduction shall apply in
relation to any goods despatched or, in the case of services, to invoices submitted, on
or after the date specified in the notice.
Chapter 6 Declarations, Premium and Charges
Article 11 Declarations
You must declare to us the sale price (net of Value Added Tax or other similar tax) in respect of all goods despatched or services invoiced under contracts to which the policy applies. Where appropriate, a nil declaration must be submitted. Declarations must be returned to us by the time specified in the Schedule.
Article 12 Risk Premium
Premium is payable, together with any applicable Insurance Premium Tax or other
similar tax, in relation to each contract to which the policy applies. Premium is
calculated at the percentage rate specified in the Schedule in respect of the amount of
business declared. Payment of premium must be made at the times we specify.
Article 13 Annual Charge and Credit Limit Charges
You must pay an annual charge for each Policy Period. We shall also charge you (at
the rates specified in the Schedule, which we may vary from time to time) for each
response, decision and yearly review we give in respect of Credit Limits from us.
Payment of all charges must be made at the times we specify.
Chapter 7 Credit Beyond Due Date
Article 14 Credit beyond the Due Date
You may, if the need arises, allow credit to run for a period beyond the due date of
payment specified in the contract with the buyer, or agree in writing to an extension of
due date, provided that the period or extension you allow or agree is not longer than
the Maximum Extension Period specified in the Schedule. If the buyer fails to pay in
full by the expiry of the first such period or extension that you allow or agree, you
must not allow or agree to any further period or extension unless we agree otherwise
in writing. You must not agree in the contract itself to any term which provides for the
due date to be extended
Article 15 Maximum Extension Period
The Maximum Extension Period commences on the day after the original due date of
payment and ends on the expiry of either:
(a) the number of days specified as the Maximum Extension Period in the Schedule or
(b) if shorter, the period or extension you allow or agree. We may vary the Maximum
Extension Period by written notice at any time.
Article 16 No liability beyond Maximum Extension Period
If payment of any amount is overdue from a buyer at the expiry of the Maximum
Extension Period, we shall not be liable for any loss you may sustain in relation to goods despatched or in the case of services, to invoices submitted, to that buyer after that date, unless we agree otherwise
in writing.
Article 17 Bills of Exchange etc.
Unless you obtain our prior written agreement, the granting of credit beyond due date is not permitted in the case of bills of exchange, promissory notes, cash against documents, documentary sight draft, documents against payment transactions or wherever payment is to be made out of a letter of credit.
Chapter 8 Obligations of the Insured
Article 18 The Proposal and Disclosure of Facts
A. The Proposal for this insurance is incorporated into this Policy as its basis. You must have disclosed, and continue at all times to disclose promptly, all facts which might affect the risks insured. If you intentionally conceal any relevant facts which might affect our risk assessment, or otherwise grossly negligently fail to fulfill your obligation to make a full and accurate disclosure in answer to any questions contained in the Proposal and such concealment or failure adversely affects our underwriting decisions or premium rate assessment, we shall be entitled to avoid the policy and we shall not be liable for any loss you may sustain.
B. As soon as it comes to your notice, you must immediately inform us of any substantial or material change in the information given in the proposal form, particularly in the nature or scope of your activities or in your own legal status.
C. You undertake to allow us to exercise the right of discovery for checking and verifying that you have fulfilled all your obligations under this Policy. Where we so require, you must also cooperate with a certified auditor or other independent party that we may employ to certify the accuracy of the information and documents you have provided.
D. You must disclose promptly and will at all times continue to disclose promptly all information and documents which might affect the risks insured under this Policy or might influence our acceptance or assessment of the risks and Buyers insured under this Policy.
Article 19 Minimising Loss and Obtaining Recoveries
A. Notification
You must notify us immediately of the occurrence of any event likely to cause a loss.
Such an event shall include, without limitation:
a. the failure of a buyer to pay any amount still overdue 20 days after the expiry of the Maximum Extension Period; or
b. a buyer requesting an amendment of payment terms which is unfavourable to you or an extension of due date beyond the expiry of the Maximum Extension Period; or
c. a buyer failing to take up the goods or the documents on first presentation where the payment terms are cash against documents or documents against acceptance; or
d. the imminent or actual Insolvency of a buyer; or
e. your having reason to believe that a buyer is unable or is likely to be unable to perform or comply with the terms of the contract; or
f. the failure of a buyer to honour a bill of exchange or a cheque; or
g. the institution of any proceedings against a buyer for non-payment of an amount owing.
B. Due Care & Diligence
You must use due care and diligence and take all practicable measures to prevent and minimize loss. This includes, without limitation, ensuring that all rights against contract goods, buyers and third parties are properly preserved and exercised.
C. Taking All Steps
You must take all steps that we may require in connection with a potential or actual
loss, including, without limitation, the institution of legal proceedings and such steps,
if any, as may be specified in the Schedule. If we require it you must assign to us all
rights against the contract goods, buyers or third parties or appoint us as your agent or
attorney with power in your name to take legal proceedings or to appoint any person
for the purposes of collection of amounts owing. If you recover the contract goods
and, with our prior written approval, resell them, any shortfall between the amount
realised on resale and the amount owing from the buyer will be taken into account
when calculating your loss.
D. Information
You must provide us with all information and documents that we may require.
E. Contributions to your Costs and Expenses
We will contribute towards costs and expenses that you properly and reasonably incur
in fulfilling the above obligations. Our contribution will be proportionate to our
liability for your total loss, including any uninsured portion, or for what such loss
would have been but for your action in fulfilling the above obligations. However, we
will not contribute towards your administrative costs and expenses. We will also not
contribute (without prejudice to any other rights we may have) to the costs and
expenses of collecting any amount owing if you have chosen not to place the
collection of the amount as we may propose or as may be required in the Schedule.
F. Failure to comply
If you fail to comply with any of the provisions of this Article after we have made a
payment, then you will be liable to refund the payment to us on first written demand.
Chapter 9 Claims
Article 20 Period for Submission
Claims (including all available information) must be made within 6 months and Payment of the expiry of the Maximum Extension Period, using the form we will provide. Provided that we are satisfied that we are liable to make payment, we will pay you the Covered Percentage either of the amount of your loss or of the Credit Limit for the buyer, whichever is less. We will make such payment no more than 30 days from either the date of receipt of all the information and documents we require or, if later, the date of ascertainment of loss.
Article 21 Calculation of Loss
We will calculate the amount of your loss as being the amount owing to you from the
buyer less (i)any amount which, at the date of ascertainment of loss, you or the buyer
are entitled to credit to the buyer ’s account whether by way of payment, set-off,
counterclaim, deduction or otherwise and (ii)any expenses which you have saved. We
will include in the amount owing any contractual interest accruing up to the original
due date of payment.
Article 22 Date of Ascertainmenet of Loss
The amount of your loss shall be ascertained on the date of ascertainment of loss which shall be as follows:
a. for Insolvency, on the day when Insolvency occurs;
b. for Default, 6 months after original due date of payment.
Article 23 Insurer ’s Maximum Liability
The maximum amount which we shall be liable to pay in respect of all contracts taken together for which our liability commences during the Policy Period shall be the amount of the Insurer ’s Maximum Liability shown in the Schedule for that period, notwithstanding that such amount may be less than the Covered Percentage of any individual Credit Limit or aggregate of Credit Limits.
Article 24 Allocation of Moneys Received and Recoveries
A. Allocations by Chronological Order
All amounts whenever received, in connection with any contracts (including contracts
not covered by this Policy) shall, for the purposes of this Policy, be applied to
amounts owing under all your contracts with the same buyer in chronological order of
due dates. If such amounts fall to be applied to amounts owing under a contract on
which we have paid a claim, they must be remitted to us and until this remittance is
made you receive and hold such amounts in trust for us.
B. Recoveries
All sums whatsoever received, recovered or realised whether by you, by any person
acting on your behalf, or by us in relation to a contract after the date of ascertainment
of loss shall be Recoveries. All Recoveries shall immediately be remitted to us. Until
this remittance is made you receive and hold Recoveries in trust for us. After receipt
by us Recoveries will be divided in the proportion in which the loss is borne by each
of us.
C. Failure to comply
If you fail to comply with any of the provisions of this Article after we have made a
payment, then you will be liable to refund the payment to us on first written demand.
Chapter 10 Miscellaneous
Article 25 Assignment of Policy Rights
Loss Payee
You cannot assign or transfer this policy or any of its benefits without our prior
written consent. You may, however, require claims payments to be made to a named
loss payee, using the form we will provide, your obligations under the policy
remaining unaffected.
Article 26 Assignment of Contract Rights
You may assign or charge your rights under the contract provided this does not contravene the contract terms and you give us details when making a claim. However, we shall not be liable to pay you for any loss unless: (a) you can show that you, not the person in whose favour the assignment or charge has been made, have sustained such loss and (b) that person has given us a written undertaking in a form acceptable to us that he will not make any claim to our portion of any Recoveries.
Article 27 Observance of Stipulations and Confidentiality
A. Due payment of all premiums and other charges and the due performance and observance of every stipulation in the policy or the proposal shall be your obligation. In the event of any breach of any condition we, according to the relevant stipulations of Insurance Law of the People’s Republic of China, also have the right to retain any premium paid and terminate the Policy from the date of our written notice to you. No variation or waiver relating to any stipulation of the policy shall be binding unless we have specifically agreed the same in writing.
B. No failure by you to comply with any of the stipulations of this Policy shall be deemed to have been accepted or excused by us unless the same is expressly so excused or accepted by us in writing. The waiver by us of any breach or default by you in respect of any of the stipulations of this Policy shall not be construed as a waiver of any succeeding breach or default in respect of the same or any other stipulation.
C. You must treat any information provided to you in strict confidence and you must not disclose such information to any third party. We shall not be liable for any loss which might arise from third parties gaining access to confidential information. All information, including but not limited to Credit Limit Decisions, is non-binding. We shall not be liable for any loss you may sustain where you use this information, especially for your own commercial decisions.
D. If you fail to observe you obligations or stipulations of this insurance contract, and this would have had essential influence on the occurrence of loss or the amount of our liability, your right of indemnification will be forfeited. In such cases we also have the right to terminate the policy with immediate effect, unless otherwise stipulated by laws of the People’s Republic of China.
E. You must not disclose the existence of this Policy to any buyer, whether insured or not.
Article 28 Joint and Several Obligations
The obligations of the persons named as the Insured in the The Schedule shall be joint and several.
Article 29 Retained Risk
You must retain exclusively for your own account as an uninsured risk any amount which exceeds the amount we are liable to pay you under the policy.
Article 30 Trade Disputes and Third Party Guarantees of Payment
A. Trade Disputes
We shall not ascertain loss so long as a buyer claims for any reason whatsoever that
he is justified in withholding payment of all or part of an amount owing or in not
performing any of his obligations under the contract.
B. Third Party Guarantees
Where we have made it a condition of cover that there be a guarantee or surety, we
shall not ascertain loss until a final judgement for the amount owing has been
obtained against that guarantor or surety in a court in the country specified in such
condition.
Article 31 Misrepresentations or Fraudulent Acts
Any misrepresentation with gross negligence which is material to the risk, or non-disclosure of information, or fraudulent conduct on your part (or on the part of any other person who has a legal or beneficial interest in the policy or its proceeds), in relation to this Policy (including the proposal), to any claim under it, or to any contract to which the Policy applies, will render the Policy void but we may retain any earned premium paid and you will be liable to refund to us any payment we may have made under the Policyunless otherwise stipulated by laws of the People’s Republic of China.
Article 32 Set Off
We have the right to apply any amount payable under this policy in or towards payment of any amount owing from you to us (paying interest before principal) whether under this policy or otherwise. You have no right to apply any amount payable by you to us, whether under this policy or otherwise, in or towards payment of any amount owing from us to you.
Article 33 Currencies
A. The policy shall be denominated in the currency specified in the Schedule, which currency shall be used for the purpose of making declarations, paying premium and calculating the amount of any loss. Where you contract in a currency other than the denominated currency, a conversion to the equivalent amount in the denominated currency shall be made using the exchange rate on the last working day of the month during which cover commenced.
B. Recoveries, if received in another currency, shall be converted to the denominated currency at the exchange rate on the date of receipt by you or by any person acting on your behalf.
C. The exchange rate on a given date shall be the closing mid-point rate quoted on that date by the People’s Bank of China or, if the rate has not been quoted, such rate on the next succeeding date when the rate is quoted.
Article 34 Variations of Terms of Cover
We have the right at any time to vary by written notice any of the provisions of the Policy in respect of contracts made with buyers insured under this Policy. The variation will apply to goods despatched or (in the case of services), to invoices submitted, after the date which will be specified in the notice (not being earlier than the date of the notice).
Article 35 Your Insolvency
The Policy shall terminate automatically with immediate effect if:
a. a bankruptcy, winding-up or administration order is made against you; or
b. an effective resolution is passed for your winding-up; or
c. a liquidation committee, an administrative or other receiver or manager of any of your property is appointed; or
d. a valid assignment, composition or other arrangement is made for the benefit of your creditors generally.
Article 36 Law, Arbitration and Language
A. The Policy shall be governed by and construed in accordance with the Law of the People’s Republic of China and subject to the jurisdiction of the arbitral tribunal established in accordance with sub-clause B below.
B. All disputes arising under, out of or in connection with this Policy, including without limitation disputes as to its formation and validity, and whether arising during or after the Policy Period, which have not been settled amicably by negotiation between the Parties shall be submitted to China International Economic and Trade Arbitration Commission (CIETAC) for arbitration. The arbitration shall take place at the Place of Arbitration specified in the Schedule. The arbitration shall be conducted in accordance with the CIETAC’s arbitration rules in effect at the date of application for arbitration. The arbitration award shall be final and binding on both parties.
C. The Language of Policy shall be that specified in the Schedule. Where we provide translations of the Policy the version in the Language of Policy shall prevail in the event of any conflict or difference in meaning or effect.