Risks : CEAR
The Insurance by this section includes in addition an amount in respect of Architects, Surveyors, and Consulting Engineers Fees or other professional fees and normally reimbursable expenses necessarily consequent upon its loss, destruction or damage but not for preparing any claim, it being authorized amount payable for such fees shall not exceed than authorized under scales authorized by the Royal Institute of British Architects, the Royal Institution of Chartered surveyors, the Association of Consulting Engineers of or the equivalent body in the country of domicile of the professional body concerned or maximum 10% of TSI whichever is the less.
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.
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