Warranty Payment Clause

WARRANTY PAYMENT CLAUSE #

It is hereby noted and agreed that the premium, must be paid to and actually received in full by the Insurer within …. (……) calendar days from the inception date of coverage under the policy ( “grace period “)

In the event any of the above mentioned premium is not paid in the time stipulated in above, the cover under this policy shall be deemed to have terminated from expiry of the said premium grace period, and the Insurer shall be discharged from all liability there from but without prejudice to any liability incurred before that date (the end of grace period) and the Insured agreeing to pay premium calculated at not less than prorate temporaries.