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

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, however, that the above ship is entered in this Association for protection and indemnity risks on the terms and conditions set out or to be set out in the certificate of entry. Furthermore, in consideration of your agreeing to the entry or continuing entry of the ship in this

Popular documents