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Company Insurances

Extracted from Contract Agreement.

9.1. The Builders shall insure the Boat (together with all equipment and materials installed or intended for it and within the Builders’ premises) in the joint names of the Builders and the Purchaser from the date of this Agreement until the date of delivery.

9.2. Such insurance shall be effected with a reputable insurer for a sum equal to the replacement cost of the completed Boat (to a maximum of 125% of the Contract Price) and shall include the cost of any additions or variations to the Specification which have been agreed between the Parties.