WHEREAS the Insured has, by a signed proposal and declaration which proposal and declaration the insured has agreed shall be the basis of this contract and be held as incorporated herein applied to the Company or Companies undersigning this policy (hereinafter called “Underwriters") for the indemnity hereinafter contained.

    NOW THIS POLICY WITNESSETH that consideration of the Insured paying to Underwriters the First premium fee or on account of the said Indemnity.
    UNDERWRITERS AGREE that subject to the terms and conditions contained herein or endorsed hereon They will indemnity the insured against:
    Loss of Money i.e. cash, bank notes, currency notes, cheques, postal orders, money orders, postage and insurance stamps, by any cause whatsoever (excluding loss by fraud or dishonesty of employees) in the Circumstances or Situation described in the Schedule except any consequence of:

    (a). war, invasion, act of foreign enemy, hostilities, (whether war be declared or not), civil rebellion, revolution, insurrection or usurped power.
    (b). riot or civil commotion.

    actually occurring before 4 o'clock in the afternoon of the last day of the Period of Indemnity or of any subsequent period in respect of which the Insured shall have paid and Underwriters shall have accepted the premium required for there renewal of this Policy.


    This Policy and the Schedule together shall be read as one contract and words and expressions to which specific meanings have been attached in any part of the this Policy or of the Schedule shall bear the same they may appear.

    1. The interest of the Insured under this Policy shall not be assignable except with the written consent of Underwrites.

    2. The Insured shall take all reasonable precautions for the safety of the property Insured and on the happening of any event giving rise or likely to give rise to a claim under this Policy, the Insured shall immediately when the same shall have to his knowledge:
    (a). give notice to the police and take all practicable steps to cause discovery and punishment of any guilty person and to trace and recover the property.
    (b). give to Underwriters notice in writing and within seven days thereafter deliver to Underwriters a claim in writing and supply all such detailed particulars and proofs as may be reasonably required.
    In no case shall Underwriters be liable for any loss not notified to them within fourteen days after the event.

    3. Underwriters may at any time at own expense use all legal means in the name of the Insured for recovery of any of the property lost and which forms the subject of a claim under this Policy and the Insured shall give all reasonable assistance for that purpose. Underwriters shall be entitled to any money for the loss of which a claim is paid hereunder and the insured shall execute all such assignments and assurances of such property as may be reasonably required.

    4. The First Premium and all Renewal Premiums that may be accepted in respect of the transit risk are to be regulated by the amount of money as described in the Schedule covered during each Period of indemnity. A proper record shall be kept in the books of the Insured of the Insured of all such money in transit so insured (including The names of all employees and the amount of wages salaries or other earnings paid to them). The Insured shall at all times allow Underwriters to inspect such books and within one month from the expiry the Period of Indemnity shall supply Underwriters with a correct account of all such money in transit so insured during the said period. If the ascertained amount shall differ from the estimated amount on which premium has been paid the difference in premium shall be met by further proportionate payment to the Underwriters or by a refund by Underwriters as the case may be provided that in any event the premium payable to Underwriters in respect of such money in franc it shall not be less than ..............

    5. If at the time of any loss there be any other insurance effected by or on behalf of the Insured covering any of the property the liability of Underwriters hereunder shall be limited to its ratable proportion of such loss. If any other insurance is expressed to cover any of the property hereby insured but is subject to any provision whereby it is excluded from ranking concurrently with this Policy either in whole or in part or from contributing ratably to the loss the liability of Underwriters hereunder shall be limited to such proportion of the loss as the sum hereby insured bears to the value of the property.

    6. The indemnity granted by this Policy may be Cancelled at any time by registered letter from Underwriter to the Insured's last known address and in such event Underwriters will return a pro rata portion of the premium for the not expired Period of Indemnity

    7. lf any difference shall arise between Underwriters and the Insured such difference shall be referred to a single arbitrator and the cost of the reference and award shall be in the discretion of the arbitrator. The making of and award in such reference shall be a condition precedent to any liability of Underwriters or any right or action against Underwriters in respect of such difference. If Underwriters shall disclaim liability for any claim hereunder and such claim shall not within twelve calendar months from the date of such disclaimer have referred to arbitration under the provision herein contained then the claim shall for all purposes be deemed to have been abandoned and shall not thereafter be recoverable hereunder.

    8. The due observance and fulfillment of the terms conditions and endorsements of this Policy by the Insured in so far as they relate to anything to be done or complied with by him and the truth of the statements and answer in the said proposal shall be conditions precedent to any liability of Underwriters to make any payment under this Policy.