What is CLASSIFICATION CLAUSE?

Stipulation in marine insurance policies that the vessel used for shipment meet all prescribed requirements else the insurance coverage is void or additional premium are owed.

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Related Legal Terms
ROTTEN CLAUSE, RED CLAUSE LETTER OF CREDIT (L/C), CERTIFICATE OF CLASSIFICATION, FREE OF CAPTURE OR SEIZURE CLAUSE, OTHER INSURANCE CLAUSE, RATCHET CLAUSE, COLLISION CLAUSE, AMERICAN CLAUSE, ACCUMULATION CLAUSE, FRANCHISE CLAUSE


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