CHARTERERS' LIABILITY INSURANCE / PART II / Section C / Clause 1

CARGO OWNERS’ LEGAL LIABILITY

For use with Charterers’ Liability Insurance (CSL) only

This insurance is to indemnify the Assured in respect of those liabilities, losses, costs and expenses incurred by the Assured in respect of the risks set out in Section A Charterers’ Liability Insurance (CSL) to include the Assured’s liability for the said risks in the Assured’s capacity as the owner of cargo on board the Chartered Ship (as opposed to or in addition to the Assured’s capacity as charterer of the Ship) subject to the following terms, conditions and exclusions:

1.1

Coverage under this Clause shall attach no earlier than coverage under Section A attaches; and shall cease no later than coverage under Section A ceases.

1.2

For the purpose of this Section C Clause 1:

1.2.1 the ‘owner of cargo’ shall include the buyer, seller or holder of the bill of lading; and

1.2.2  ‘cargo’ shall mean any lawful and merchantable commodity or goods intended to be or being or having been carried on board the Chartered Ship pursuant to a contract of carriage but shall exclude any other equipment, stores, fuel (unless carried as cargo) or substance of whatsoever nature and shall further exclude waste and residues of cargo and/or of other equipment, stores, fuels and/or substances.