SPECIAL INSURANCE COVER: GUARANTEE MAINTENANCE COVER #
This endorsement forms part of Section I
and is subject otherwise to the terms, provisions, conditions, limitations and exclusions contained in the Policy or endorsed thereon except for the following:
- Indemnification
1.1 The Insurer shall indemnify the Insured in respect of loss of or damage to Property Insured which occurred during the Period specified hereunder which
1.1.1 was caused by an Insured contractor in the course of any operations carried out by him for the purpose of complying with his obligations under the provisions of the Insured Contract(s) or,
1.1.2 was caused prior to the inception of the Period of the lost or damaged Property Insured.
- Deductible
In respect of each and every Occurrence of loss or damage, the Insurer shall not be liable for the Deductible specified below.
- Definitions
Defects Liability Period
means a period during which the Insured contractor(s) comply with its obligations to complete outstanding work and remedy defects pursuant to the provisions of the Insured Contract(s).
- Period of Guarantee Maintenance Cover
4.1 The Guarantee Maintenance Cover as set forth in this endorsement shall commence for each item of Property Insured on the date it has been taken into use or into occupation or on the date a Taking-over Certificate has been issued or is deemed to have been issued, whichever is the earlier
4.2 The Guarantee Maintenance Cover as set forth in this endorsement for each item of Property Insured shall cease upon expiry of the Period or the expiry date specified below, whichever is the earlier.
- Exclusions
The Insurer shall not indemnify the Insured in respect of liability for any costs rendered necessary to replace, repair or rectify Property Insured which is defective as a result of any fault, defect, error or omission in design, plan, specification, material or workmanship, but should any part of the Property Insured containing any such defect become lost or damaged, the costs excluded are those which the Insured would have incurred to replace, repair or rectify the original defect if such defect had been discovered immediately before the Occurrence of loss or damage.Guarantee Maintenance Cover Period: months
Deductible: each and every loss/Occurrence
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