Page 61 - Binder3

3. The total amount recoverable under this clause will not exceed:
a) in respect of the property suffering Damage:

i) 15% of its sum insured
ii) where the sum insured under the item applies to property at more than one premises
15% of the amount for which we would have been liable had the property insured under
the item at the premises where the Damage has occurred been wholly destroyed

b) in respect of undamaged portions of property other than foundations 15% of the total
amount for which we would have been liable had the property insured under the item at the
premises where the Damage has occurred been wholly destroyed.

3.2 Expediting Expenses
This part includes reasonable costs and expenses necessarily incurred with our consent in effecting
temporary repair and of expediting permanent repair including overtime working and the use of rapid
transport provided always that the cost does not exceed 50% of the cost of repair had such cost not
been incurred.

3.3 Indemnity to Other Persons
We agree that:
a) all interest in the insurance will be vested jointly in you and any contractor employed by you to
undertake the works in progress as stated in the schedule
b) any rights or remedies to which we may become entitled or subrogated upon paying for or making
good any Damage will not be pursued against any nominated subcontractor or domestic
subcontractor in any period from commencement of to the issue of a certificate of practical
completion for the subcontract works.
This waiver does not apply to:
i) Damage caused other than by fire, lightning, explosion, aircraft and other aerial devices or
articles dropped from them, riot, civil commotion, strikers, locked out workers, persons taking
part in labour disturbances, earthquake, storm, flood or escape of water from any tank,
apparatus or pipe
ii) domestic subcontractors in so far as the Damage extends to existing buildings or their contents.

Section 4 – Special Exclusions

This part does not cover:

1. Completed Work
Damage to work for which a certificate of practical completion has been issued

35