What Does Classification Clause Mean?
What does Classification Clause mean? Read on to discover the definition & meaning of the term Classification Clause - to help you better understand the language used in insurance policies.
Classification Clause
Stipulation in marine insurance policies that all prescribed requirements must be met by the vessel used for shipment, otherwise either the insurance cover is void or additional premium must be paid.
We hope the you have a better understanding of the meaning of Classification Clause.
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