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An automatic renewal clause is used in the insurance and healthcare industries . An automatic renewal clause (also referred to as an evergreen clause), is activated towards the end of the contractual period whereby it automatically renews the terms of an agreement except when the contract is terminated (through mutual agreement or contract breach), or one of the contracting parties has sent a ...
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. [ 1][ 2] Cargo insurance is the sub-branch of marine insurance, [ 3] though marine insurance also includes onshore and offshore exposed ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy ...
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy . Such clauses are common where the insured property is subject to ...
Website. marinecorpstimes .com. Marine Corps Times ( ISSN 1522-0869) is a newspaper serving active, reserve and retired United States Marine Corps personnel and their families, providing news, information and analysis as well as community and lifestyle features, educational supplements, and resource guides. It is published 26 times per year.
Lloyd's Open Form. The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation. Originating in the late 19th century, the form is published by Lloyd's of London and is the most commonly used form for international salvage.
The sale and purchase of ship is an important aspect of the shipping industry. It may involve large amounts of money and requires brokers to possess knowledge of types of vessels and their function, knowledge of maritime law, as well experience in bargaining. To reduce the number of disputes and smoothen the sale and purchase procedure ...
The United States Marine Corps Officer Candidates School ( OCS) is a training regiment designed to screen and evaluate potential Marine Corps Officers. Those who successfully complete the period of instruction are commissioned as Second Lieutenants in the United States Marines. Unlike the other United States military services, the majority of ...