RETURNED SHIPMENTS CLAUSE

This Policy of insurance is extended to cover, at Policy terms and conditions, shipments of returned goods which have not been delivered to the final consignee and which have been continuously covered hereunder, provided such goods remain in their original approved overseas packing and the Assured warrants to report all such shipments as soon as practicable after they have knowledge of the refusal. Shipments returned to the Assured by the consignee shall be subject to the same terms, conditions and rate under which such shipments were insured under this policy while in transit to such consignees. Returned merchandise other than as defined above is insured subject to the Institute Cargo Clauses ( C ) CL 254 dated 1.1.82 at rates to be agreed by Underwriters.