Risks : CEAR
It is hereby declared and agreed that this Policy is extended to cover inventory belonging to the Insured and destined for use in the construction mentioned herein.
It is further declared and agreed that this Policy is also extended to cover the Insured’s store and work sites and risks of loading and unloading.
Provided further that this Insurance shall in no way insured directly or indirectly to the benefit of any carrier or other bailee.
Where the subject-matter insured hereunder (or any apportionable part) becomes missing and after the lapse of a reasonable time has not been located, an actual total loss of the subject-matter insured (or any apportionable party) may be presumed. For the purposes of this insurance, there shall be deemed to have been the lapse of a reasonable time where delivery to the consignees’ or other final warehouse or place of storage at the destination named herein has not been effected within 90 days of the expected date of such delivery. If, after the payment by the Insurer(s) of an actual total loss as provided for above, this subject-matter insured or whatever may remain thereof is located, the ownership and all proprietary rights incidental thereto shall be vested is the Insurer(s) the subject-matter insured of whatever may remain thereof.