Mutual Benefits Assurance Plc, GOODS - IN -TRANSIT INSURANCE POLICY INSURED: AGILIS LOGISTICS POLICY NO: GIT/24/2/00360/21Page 2 IMPORTANT NOTICE TO POLICYHOLDER We thank you for taking out your Goods-in-transit Insurance Policy with Mutual Benefits Assurance Ple. Please read the Policy, Clauses, Schedule and any Endorsement) attached to the Policy to ensure all details are correctly entered. If any correction or alteration is required, the Policy must be returned to us or your broker or agent immediately for the desired amendment. ‘This Policy and the Schedule shall be read together and any word or expression to which a specific meaning has been attached in any patt of this Policy or of the Schedule shall bear the same meaning wherever it may appear. IMS/COMPI In the event of a claim /complaints, kindly contact the Company through the following means: a. Telephone ~ 2349054644444 b. Email: [email protected], [email protected] ‘You can visit our website www.mutualng.com for further details, At Mutual Benefits we have your future in mind and look forward to working closely with you. RECEIPT OF POLICY DOCUMENT 1/We.. hereby acknowledge receipt of this Policy document. Signature. AGILIS LOGISTICS GIT/24/2/00360/21Page 3 WHEREAS the Insured described in the Schedule by a written proposal and declatation which shall form the basis of this contract and be considered as incorporated herein has applied to Mutual Benefits Assurance Pie, herein after referred to as “the Company! for the Insurance hereinafter contained and has paid the Premium as consideration, NOW THIS POLICY WITNESSES in consideration of the payment of the premium and subject to the terms, limitations, provisions, exceptions and conditions contained herein or endorsed hereon referred to as (“the terms of the policy”) the Company will indemnify the insured against loss of or damage to the property insured caused by fire, theft and accidental damage directly caused by collision or overturning of the conveying owned/hired vehicles occurring during the period of insurance whilst in transit as stated in the policy schedule. CLAUSE I - Property Whilst in Transit ‘The Company hereby agrees to indemnify the Insured for any loss, damage or destruction to the insured property either belonging to him or held in trust or commission for which he is responsible ‘whilst such property is in transit otherwise than by ar. CLAUSE Il - Property During Loading or Unloading ‘The Company will indemnify the Insured for any loss, damage or destruction whilst the insured property is being loaded unto or unloaded from the conveyance. CLAUSE III - Property Temporarily Housed ‘The Company will be liable to the Insured for any loss, damage, diversion or destruction to the insured property whilst temporarily housed in the ordinary course of transit. CLAUSE IV- Mode of settlement ‘The Company may at its option indemnify the Insured by - payment of the amount of the loss or damage - by repair, reinstatement or replacement of the insured property. PROVIDED ALWAYS that if the property insured hereby shall at the time of any loss or damage be of greater value than the Sum Insured thereon then the Insured shall be considered as being his ‘own insurer for the difference and shall bear a rateable share of the loss accordingly. CLAUSE V - EXCEPTIONS ‘The Policy does not cover loss or damage:- (®) directly or indirectly caused by or arising from or in consequence of: ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel. Solely for the purpose of this Exception, combustion shall include any self sustaining process of nuclear fission. (i) Nuclear weapons material (®) occasioned by riot, civil commotion, war, invasion, act of foreign enemy, hostilities (whether war be declared oF not), civil war, rebellion, revolution, insurrection oF military or usurped power. (© arising whilst any owned/hired vehicles belonging to or under the control of the Insured and containing the property insured is left overnight unless the said owned/hired vehicles is contained within a securely locked or permanently attended garage. AGILIS LOGISTICS GIT/24/2/00360/21Page 4 (@ arising while any owned/hired vehicles belonging to or under the control of the Insured and containing the property insured is left unattended unless openings of the owned/hired vehicles are fully closed and properly fastened. (©) due to delay, loss of market, depreciation, deterioration, moth, vermin, insects, damp, mildew, rust, wear ot teat or consequential loss of any nature whatsoever. (© due to leakage or spillage unless atising from fire or theft ot accident to the conveyance. © occurring outside Nigeria CLAUSE VI- CONDITIONS 1. The Insured shall take all ordinary and reasonable precautions for the safety of the property insured. ‘The Insured shall take all reasonable measures: (@) to maintain in efficient condition any conveyance described in the Schedule hereto. (©) to ensure the safety of the property covered by this Policy from loss or damage. (© to ensure that any conveyance employed is suitable for the purposes for which it is to be used. (@ __ to-employ only steady, reliable and competent drivers. ‘The Company shall at all times have free access to examine any owned/hired vehicles as aforesaid. 3: Upon the happening of any event giving rise or likely to give rte to a chim under tis Policy, the Insured shall immediately notify the Company at its Head Office or any nearest Branch Office of the occurrence and shall deliver within thirty days or such further time as the Company may allow, » claim in writing with all particulars and details of the property affected, the value thereof, and of the loss or damage thereto. The Insured shall furnish ail such vouchers, proofs, explanations and other evidence as may be reasonably required by the Company together with a statutory declaration if so required in verification of the claim. 4 If such claim be in any respect fraudulent or any fraudulent devices be used by the Insured oF anyone acting on his behalf to obtain any benefit under this Policy, any benefits thereunder and all moneys paid in respect thereof shall be forfeited. In the event of loss by theft or diversion, the Insured shall immediately give notice thereof to the Police and take all easonable and practicable steps towards the recovery ofthe property. 6 The Insured shall not incur any expense in making good any damage and shall not make or give or allow to be made or given on his behalf any admission, offer, promise, payment or indemnity without the written consent of the Company. 7 The Insured shall forthwith at the request and expense of the Company do and concur in doing all such acts and things as the Company may reasonably require with 2 view to the Recovery of property lost of stolen or to preserve and enforce any rights the Insured may have Agtinst any Police or other Authority ot against anyone in respect of any loss whether it has or has not been paid or made good by the Company. AGILIS cogistics GIT4pppossap2110. 1. 12, 13. 14, Page 5 “The Company may at any time after the loss or damage take and keep possession of the salvage and this Policy shall be proof of leave and licence or such purpose and if the Insured cor anyone acting on his behalf shall obstruct or prevent the Company from so doing all ‘benefits under this Policy shall be forfeited. No Property may be abandoned to the Company. If at the time of any loss or damage to any property hereby insured there be any other insurance effected by of on behalf of the Insured covering any of the property lost or damaged the liability of the Company hereunder shall be limited to its eateable proportion of such loss or damage. “The Insured shall give immediate notice to the Company of any alterations which may ‘materially affect the tisk covered by this Policy. “The Company will not recognise any change of interest in this Policy unless its written consent has been given by an endorsement hereon. “The Company shall be at liberty at any time by giving seven days notice in writing to the Insured by registered letter posted to the last ‘known address of the Insured to determine and cancel this Policy. At the expiration of such notice the Company shall on demand return to the Insured a proportionate part of the premium corresponding to the unexpired term of the Policy. If any difference shall arise as 10 the amount to be paid under this Policy (lability being otherwise admitted) such difference shall be referred to an Arbitrator to be appointed by the parties in accordance with the statutory provisions in that behalf for the time being in force. Where any difference by this condition is to be referred to Arbitration, the making of an award shall be a condition precedent to any right of action against the Company. “The due observance and fulfillment of the terms, provisions, conditions and endorsements of this Policy in so fat as they relate to anything to be done or complied with by the Insured and the truth of the statement and answers in the said proposal shall be conditions precedent to any liability of the Company to make any payment under this policy. AGILIS LOGISTICS GiT/24/2/00360/21Page 6 NDORSEMENTS ATTACHING TO AND FORMING PART OF THE GOODS IN TRANSIT POLICY NO.: GIT/24/2/00360/21 IN F: AGILIS LOGISTI MEMO 1: DECLARATION WARRANTY It is hereby understood and agreed that the insured shall declare in writing to the Company at the end of each month the value of each trip made during that particular month, MEMO2: — WAY BILL CLAUSE Icis declated and agreed that the goods whilst in transit would be accompanied by necessary documents eg, Way Bill relevant to the consignment stating the quantity and type of goods carried. It is Further noted that this insurance is hereby declared to commence with the loading of each package unto the owned/hired vehicles and destination named on the Way Bill. MEMO 3: EXCESS CLAUSE Notwithstanding anything contained herein to the contrary, itis hereby declared that the Insured shall be responsible for the first 9¥100,000.00 or 10% of each and every claim whichever is higher. MEMO 4: —_ DISAPPEARANCE OF CONVEYANCE CLAUSE Ibis hereby understood and agreed that loss due to disappearance of conveying owned/hired vehicles with or without the driver is excluded from the cover granted by this policy. MEMO 5: JURISDICTION CLAUSE Notwithstanding anything contained herein to the contrary, itis hereby declared and agreed that the indemnity provided herein shall not apply in:- (@) Compensation for damages in respect of judgements delivered or obtained in the first instance ‘other than in court of competent jurisdiction within the Geographical Area. (b) Costs and expenses of litigation recovered by and claimant from the insured which are not incurred in and recoverable in the geographical Arca. (©) For purpose of this clause the geographical atea shall mean the Federal Republic of Nigeria. MEMO 6: UNATTENDED OWNED & HIRED VEHICLES WARRANTY It is hereby declared and agreed that notwithstanding anything contained herein to the contrary the company shall not be liable under this policy for any loss or damage by theft ot any attempt thereat ‘occurring while the owned & hited vehicles is left unattended unless such owned & hited vehicle is kept in a securely locked or permanent attended garage. MEMO7: — COLLUSION CLAUSE Ic is warranted that cover excludes theft in which any of the insured’s employees is involved cither as a principal or accessory. MEMO 8 DAMAGE BY RAIN WARRANTY tis warranted that notwithstanding anything contained in the policy to the contrary, the company shall not be liable for any loss, damage or destruction directly caused by rainfall, rinwater or storm unless there is convincing evidence that all necessary precautionary measures have been put in place. MEMO 9: LOADING AND UNLOADING CLAUSE It is hereby declared and agreed that this policy is extended to indemnify the Insured against legal liability in respect of bodily injury and/or damage to property. (1) Arising out of and in course of loading or unloading operations from a stationary owned & hired vehicle including delivery or collection of the load from or to the owned & hired vehicles. 2) Caused by any article ot part of the load falling from an owned & hired vehicle whilst in transit. AGILIS LOGISTICS GrT/e4/2h00360/21Page 7 MEMO 10: TARPAULIN WARRANTY (APPLICABLE TO OWNED & HIRED VEHICLES WITH OPEN BODY) Itis hereby warranted that any conveying owned & hired vehicle with open oof shall always be covered ‘with tarpaulin to protect the goods being conveyed from any unforeseen damage. MEMO 11: DISHONESTY OF EMPLOYEES’ CLAUSE It is hereby understood and agreed that this policy does not cover loss or damage occasioned by any act of fraud or dishonesty on part of any employees. MEMO 2: _ EXCLUSION OF DELICATE GOODS tis understood and agreed that the goods to be carried as contained in the schedule of the policy shall exclude inflammable goods, explosives and other hazardous goods and inherent vice. MEMO 13: | OWNED & HIRED VEHICLES WARRANTY Itis hereby warranted that where owned/hired vehicles are employed to carry shall; © Enter into a written agreement with the Carrier for the carriage of the goods assigning responsibilities for loss or damage to the goods and same shall be made available to the company. Identify the owner and the driver of the carrying vehicle Obtain, inspect and verify all relevant identification particulars of the vehicle(s) and the diver(s). Ensure that the vehicle(s) is/are road worthy. in consequence of circumstances for which a claim may be made under the policy, the Insured shall assign to the Company, all rights of action to the Insured against such cartier() in respect of loss sustained. tured goods, the Insured MEMO 14: PROTECT WARRANTY I is warranted that the vehicle conveying the insured property shall be housed in a locked up premises or kept under constant supervisor during the course of transit particularly when the conveying vehicle is broken down or when the journey is interrupted overnight. AGICIS LOGISTICS GIT/24/2/00360/21Page 8 SCHEDULE Policy No: + GIT/24/2/00360/21 ‘The Insuced’s Name: ; — AGILIS LOGISTICS ‘The Company : MUTUAL BENEFITS ASSURANCE PLC. Address: :9, TUNDE DIANITORI STREET, AREA ONE ESTATE, LAGOS Business/Profession : HAULAGE Period of Insurance: a] From 03/11/2021 to 02/05/2022 both dates inclusive. b] Any subsequent period for which the Company may accept payment for the renewal of this Policy | First Premium Due: $930,000.00 Annual Premium: §§60,000,00 PARTICULARS OF TRANSIT ALL RISK OF LOSS/DAMAGE TO ELECTRONICS, HOUSEHOLD AND CLOTHING MATERIALS OF VARIOUS DESCRIPTION (EXCLUDING GLASS, BOTTLES, PERISHABLE AND PETROLEUM PRODUCTS) PROPERTY OF THE INSURED AND/OR HELD BY THEM IN TRUST OR ON COMMISSION AND FOR WHICH THEY ARE LEGALLY RESPONSIBLE WHILST IN TRANSIT, INCLUDING LOADING AND UNLOADING IN THE NORMAL COURSE OF ‘TRANSIT ANYWHERE IN NIGERIA. CONVEYANCE: OWNED VEHICLES (APP 674 YE) EXCESS: 100,000.00 OR 10% OF EACH AND EVERY CLAIM, WHICHEVER IS HIGHER LIMIT PER CARRIAGE: N250,000.00 ESTIMATED ANNUAL CARRYING: N6,000,000.00 Signed in Lagos this 3rd day of November, 2021. Hues KD EXAMINED: O.M.T For: MUTUAL BENEFITS ASSURANCE PLC. AGILIS COGISTICS GITP4/2/00360/21GOODS IN TRANSIT INSURANCE CERTIFICATE POLICY NO: GIT/24/2/00360/21 INSURED: AGILIS LOGISTICS ADDRESS: 9, TUNDE DIANITORI STREET, AREA ONE ESTATE, LAGOS STATE. THIS IS TO CERTIFY THAT THIS COMPANY HAS INSURED THE UNDER MENTIONED GOODS FOR THE TRANSIT ON BEHALF OF INTEREST COVERED: ALL RISK OF LOSS/DAMAGE TO ELEC’ HOUSEHOLD UTENSILS AND CLOTHING M. VARIOUS DESCRIPTION (EXCLUDING GLASS, BOTTLES, PERISHABLE. AND PETROLEUM PRODU PROPERTY OF THE INSURED AND/OR HELD BY THEM IN TRUST OR ON COMMISSION AND FOR WHICH THEY ARE LEGALLY RESPONSIBLE WHILST IN TRANSIT, — INCLUDING LOADING AND UNLOADING IN THE NORMAL COURSE OF TRANSIT ANYWHERE IN NIGERIA. RONICS, TERIALS OF CONVEYANCE; OWNED TRUCKS (APP 674 YE) FROM: LAGOS TO; ANY WHERE IN NIGERIA SCOPE OF COVER: ALL RISK PERIOD OF COVER NOVEMBER 3, 2021 - MAY 2, 2022 LIMIT OF LIABILITY: N6,000,000.00 LIMIT PER CARRIAGE: 250,000.00 ANNUAL PREMIUM: 160,000.00 POLICY EXCESS 'N 100,000.00 OR 10% of EACH AND EVERY CLAIM, WHICHEVER IS HIGHER TERMS AND CONDITIONS: AS PER POLICY SPECIAL CONDITIONS (IF ANY) ‘Dated ii Lagos this Grd Day of November, 2021 i ae SNA PREPARED BY: 0.M.T for: MUTUAL BENEFITS ASSURANCE PLC ont nite | Aa Mot nae sane Congany 215 tte cop est Cengany eat 2016 Owe gh nar | cae gaance Cr