Leasing Clause

LEASING CLAUSE #

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It is hereby noted and agreed, that the insured motor vehicle under this Policy has been financed by PT…
In connection therewith, it has been agreed upon between such finance company and the Insured, that:
1. In the event of total loss covered under this Policy, indemnity will be paid to such finance company.
2. In the event of partial loss, indemnity may be paid to the finance company if there is a written request from the finance company.

Settlement of indemnity that becomes due to the Insured shall become the full liability of finance company.

This Clause shall no longer be valid after the notification from the Finance Company concerned is received, that such Finance Company shall no longer have any interest in the motor vehicle insured under this Policy.