CURRENCY CLAUSE
- Sunday, December 29, 2013, 15:13
- C-Clauses, Fire Insurance, Property All Risks (PAR)
- 3 comments
CURRENCY CLAUSE
It is hereby understood and agreed that in case a claimable loss hereunder, if any, if denominated in currency other than the currency stated in the PolicySchedule, then the conversion rate shall be the middle rate for bank notes published by the Bank Indonesia on the Date of Agreement between the Insurer and Insured as to the amount of loss.
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