Banker’s Clause

It is hereby noted and agreed that as from the effective date, the equipment insured under this Policy has been pledged with the following company :

  1. Bank Mandiri (Persero)

Plaza Mandiri

Jl. Gatot Subroto Kav. 36-38

Jakarta 12190

As a consequence thereof, it has been agreed with the said company and the Insured that in case of loss, if any, payable under this Policy any payment up to the amount to which the said company is entitled for Principal interest accrued and costs shall be made to the said company without prejudice to the rights the Insured have on the difference.

This clause to be null and void on receipt of advice from the said company that they have no longer interest in the equipment insured under this Policy.

 

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