Order Delivery Insurance Policy

1. Overview

Our Order Delivery Insurance e covers loss of goods on arrival and during transit from Echinastone office to the delivery address and damaged goods on arrival.

2. Definitions

"Client": The trader being a company, partnership, sole trader or other organisation or any individual, which undertakes to accept Echinastone Services.

"Services", "Products": rough and faceted gem stones, carved stones, jewelry, equipment, newsletters and other gem stone industry related fields.

3. Covered Risks

This insurance covers loss of goods on arrival and during transit from Echinastone office to the delivery address and damaged goods on arrival.

4. Insurance Cost

1 USD + 1 % of the total goods value.

5. Claims Policy

Echinastone agrees to pay for the loss, damage, destruction or theft of goods bought by the Insured en route anywhere in the world, on water, land or in the air.

• Notice of Loss

  If the insured goods shall be lost or damaged through perils insured against, the Insured shall notify the Company within 7 days. This Insurance is conditional upon compliance by the Insured with this clause.

• Settlement of Loss

Any claim recoverable hereunder for loss, damage and/or destruction shall be adjusted and paid immediately upon presentation of evidence substantiating such loss, damage and/or destruction, and any claim recoverable hereunder for lost goods shall be adjusted and paid upon failure to recover the goods lost after a lapse of 7 days, providing the Insured shall present documentation substantiating such loss and values involved.

• Valuation

  Echinastone shall not be liable beyond the actual cash value of the goods at the time any loss or damage occurs and the loss or damage shall be ascertained or estimated according to such actual cash value with proper deduction for depreciation, however caused, and shall in no event exceed what it would then cost to replace the same with material of like kind and quality.

6. The Benefits

The following amounts are payable provided all Conditions of the Policy are met:

• Up to the Sum Insured for loss or damage to goods during transit.
   
• Up to the Sum Insured for theft or robbery of goods during transit.
   

7. The Exclusions

This Insurance does not cover:

• Any act of war declared or undeclared, armed forces training, invasion, riot, or civil commotion.
   
• The commission or attempted commission of any criminal/criminal-like act by the Insured.
   
• Loss or damage caused by wear and tear or deterioration.
   
• Property insured under other insurance.
   

8. General Conditions

• It is a condition precedent to liability that at the time of application no circumstance is known which might reasonably be expected to prevent goods arriving at destination.
   
• No claims will be considered unless the original paperwork is provided to the Insurer.
   
• This Insurance is valid only when purchased at time of ordering until delivery date and receipt of assigned goods has been delivered.
   
• Insurance is non-refundable.
   

9. Provisions and Conditions

• Misrepresentation and Fraud

  The entire coverage under this Policy shall be void if, whether before or after loss, the Insured has concealed or misrepresented any material fact or circumstances concerning this coverage or subject thereof, or the interest of the Insured therein, or in the case of any fraud or false swearing by the Insured.

• Subrogation

If the Insured shall acquire any right of action against any person, firm or organisation for loss covered hereunder, the Insured shall, if requested by the Company assign and transfer such claim or right of action to the Company and will permit suit to be brought in the Insured´s name under the direction and expense of the Company. The Insured shall do nothing after loss to prejudice such rights.

Terms of the Policy, which are in conflict with the statutes of the province wherein this Policy is issued, are hereby amended to conform to such statutes.

In the event of a claim, the Insured Person hereby consents to the Company and its Agents obtaining any and all information with respect to tracing of goods.

The Insured claimant must be able to furnish records for the period prior to the Effective Date of the Insurance. Failure to produce these records may invalidate claim.

Extensions to the Insurance term can only be considered when the Company is contacted prior to Expiry Date. Any extension not authorised by the Company will be considered void. In the event of unresolved disputes respecting any claim or portion thereof, the following should be contacted:

China Stone Co.,Ltd.
Jewelry Trade Center,
45th Floor, 919/523 Silom Road
Bangrak, Bangkok, 10500
Thailand

10. The Contract

The application, this policy, any document attached to this policy when issued, and any amendment to the contract agreed on in writing after the policy is issued constitute the entire contract, and no agent has authority to change the contract or waive any of its provisions.

• Waiver.

  The insurer is deemed not to have waived any condition of this contract, either in whole or in part, unless the waiver is clearly expressed in writing and signed by the insurer.

• Material facts.

  A statement made by the insured or person insured at the time of application for this contract must not be used in defence of a claim under or to avoid this contract unless it is contained in the application or any other written statements or answers furnished as evidence of insurability.

• Notice and proof of claim.

  Notice of a claim shall be given in accordance with the claims procedures clause included in this policy as soon as practical but in no case later than 7 days from the date a claim arises under this policy. You must also within 7 days from the date the claim arises under this policy furnish such proof and additional information as is reasonably possible and if required by the company.

• Failure to give notice or proof.

  Failure to give notice of claim or furnish proof of claim within the time prescribed by this statutory condition does not invalidate the claim if the notice or proof is given or furnished as soon as reasonably possible, and in no event later than 30 days from the date of the contract if it is shown that it was not reasonably possible to give notice or furnish proof within the time so prescribed.

11. Policy Summary

• If we decide to change our Order Delivery Insurance Policy for Echinastone, we will post those changes here.
   
• Questions about this policy should be sent to:pr@echinastone.com.
   
• Reports of activity in violation of this policy should be sent via e-mail to: abuse@echinastone.com.
   

This document last revised on: October 26, 2003. 03:12:12 .