Mutual insurance association letter of undertaking: for notice of assignment of insurances in shipping finance
Mutual insurance association letter of undertaking: for notice of assignment of insurances in shipping finance

The following Banking & Finance precedent provides comprehensive and up to date legal information covering:

  • Mutual insurance association letter of undertaking: for notice of assignment of insurances in shipping finance

[to be printed on headed notepaper of Association]

[insert name of assignee]

[insert address of assignee]

Dear Sirs

m.v. '[insert name of vessel]'—[insert name of owner]

We acknowledge receipt of a letter from [insert name] dated [insert date] enclosing notice of assignment to you dated [insert date] of the insurances on the above ship. So far as this Association is concerned, the managers do not consent to such assignment for the purposes of Rule 15 other than to give efficacy to the loss payable clause set out below and subject always to the Association's rights under Rule 15(B).

We do confirm, howe

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