FIDELITY GUARANTEE INSURANCE
 
Whereas the insured named in the as schedule here to has made to Asia Insurance (Cambodia) Plc. (hereinafter called the Company) a written proposal dated as stated in the schedule hereto (warranting the truth of the statement contained therein) which as the basis of this Contract and is deemed to be incorporated herein and has paid or agreed to pay to the Company the premium herein stated for the Insurance of the risks hereinafter specified occurring during the period stated in the schedule or during any further period for which the Company may accept payment for the renewal of this Policy.

NOW THIS POLICY WITHNESETH that in consideration of the payment to the Company of the Premium stated in the said Schedule IF, during the Policy of Insurance stated in the said Schedule or before 4 O'clock in the afternoon of the last day of any subsequent period in respect of which the Company shall have accepted the premium required for the renewal of

Policy and such Employee whilst employed in the capacity set in the said schedule shall fraudulently embezzle or fraudulently misappropriate any money or negotiable instrument belonging to the Employer or for which the Employer is legally liable and such fraudulent embezzlement or fraudulent misappropriation be discovered not later than three months after the termination of this policy or not later than three months after the termination of the Employment of such Employee whichever shall have first happened THEN after satisfactory proof Pecuniary loss but not exceeding in any case the sum set opposite the name of such Employee in the said Schedule.

PROVIDED that the Company shall not be liable under this policy in respect of or in relation to any Employee named in the said Schedule.
 
1.  

For more than the sum set opposite the name of such Employee in the said schedule notwithstanding that fraudulent embezzlement or fraudulent misappropriation was committed by such Employee during more than one period of insurance.

2.  

For any loss arising from fraudulent embezzlement or fraudulent misappropriation committed more twelve moth prior to the date of receipt by the Company of notice of such loss except that in respect of loss arising from fraudulent embezzlement or misappropriation committed during the period of insurance and discovered after but within three months of the termination of this policy or the termination of the employment of such employee the employer shall be entitled to claim for any such loss which arose within the period of twelve months immediately prior to the date of termination of this policy on the date of termination of such Employment whichever shall have first happened.
3.  

For any loss arising from fraudulent embezzlement or fraudulent misappropriation committed by such Employee subsequent to discovery by the Employer of any act of fraud or dishonesty on the part of such Employee;

4.  

If such Employee if unsuccessfully prosecuted embezzlement or fraudulent misappropriation which forms the basis of a claim under this policy.

5.  

For any loss arising from the fraudulent embezzlement or fraudulent misappropriation of goods however arising.

 
CONDITIONS
1.  
  Every notice or communication to the Company shall be in writing and sent to the office of the Company at which this policy is issued and notice or knowledge of anything relating to this policy or any claim hereunder or with reference to the risk insured hereunder shall not be deemed to be notice to or within the knowledge of the Company unless so given. Any Agent or office of the Company who may on behalf of the Employer write any statement which the Employer signs or authorizes to be signed shall for the purposes thereof be deemed to be the Agent of the Employer and not of the Company.
 
2.  
Unless the written consent of the Company shall have been previously obtained this policy ipso facto ceases to be in force
2.1

If any check or precaution described in the within-mentioned and Declaration is not duly and faithfully performed or observed by the Employer or

2.2

If the method of conducting the Employer' s business shall be so changed or varied as to make the actual facts differ in some material degree from those or any of them described in the within-mentioned Statement and Declaration or

2.3

As regards any Employee the amount of whose remuneration shall be reduced other than by variation of an award or whose duties shall be so changed or varied as to make the actual facts differ in some material degree or those or any of them described in the within-mentioned Statement and Declaration or

2.4

If the interest of the Employer herein shall pass from him (except by will or operation of law in either of which cases notice and full particulars shall be submitted to the approved by the Company previous to the next following Renewal)

 
3.  

This policy shall be void if the within-mentioned Statement and Declaration of the Employer be untrue in any respect or if any material fact affecting the risk be incorrectly stated therein or omitted therefrom or if this policy or any renewal thereof shall have been obtained through and misstatement misrepresentation or suppression on the part of the Employer or if any claim made shall be fraudulent or exaggerated or if any false declaration or statement shall be made in support thereof.

 
4.  
Upon the discovery of any circumstances giving rise or likely to give rise to a claim under this Policy, the Employer shall
4.1

Forthwith give notice to the Company explaining fully all such circumstances
4.2

Within fourteen days from the date of such notice (unless the Company has writing agreed to extend such period) deliver to the Company a detailed statement in writing of the loss sustained;

4.3

At all reasonable times permit the Company or its agents to enquire into investigate and examine of circumstance of the alleged loss by Employer and the claim in respect thereof and the Employer shall at his own expense upon being required so to do by the Company or its agents produce all books vouchers correspondence documents, receipts and all entries relating to the alleged loss in this possession or control and shall furnish copies of such of them and other evidence and give all possible assistance as may in any way enable the Company or its agents to ascertain the correctness thereof or the liability of the Company under this Policy;

4.4

If and when required by the Company (but at the expense of the Company if a conviction be obtained) use all diligence I prosecuting or assisting to prosecute any Employee to conviction for any fraudulent embezzlement or fraudulent misappropriation in respect of which a claim shall have been made under this Policy.

 
5.  

The Employer shall notify the Company of any other Policy Security or Guarantee held by him against loss covered by this Policy and shall notify the Company of any limitation discharge or termination thereof and the Company shall only be liable to pay or contribute its ratable proportion of any loss after taking into account the value of any such other Policy Security or Guarantee.

 
6.  

In the event if any claim being made under this Policy, the Employer shall retain all salary commission moneys or assets, the Property of any Employee in respect of whom a claim is made which may be in or come into the Employer's hands or under his control and shall apply the same towards making good the amount of any default due to acts insured against under this Policy.

 
7.  

The Company shall have the right of subrogation in respect of all rights or remedies which the Employer may have Employee of any other party; or parties and the Employer shall at the expense of the Company do and take and permit to be done and taken in his name all such acts things and proceedings as the Company any consider necessary or require for the purpose of enforcing or exercising all or any such rights whether such acts, things or proceedings shall be considered necessary or required before or after any loss has been paid or made good.

 
8.  

No provision or requirement of this Policy requiring any matter or thing to be done or to be written or endorsed hereon shall be deemed waived by reason of any alleged notice or waiver which has been expressly written or endorsed hereon nor shall the Company be deemed to have waived any provision or Condition of this Policy unless such provision or Condition be expressly stated in writing to be waived by the Company. Upon the happening of any loss or alleged loss which may be or is claimed to be covered be this Policy the Company may (at any time thereafter until the liability or non-liability or the Company is determined) without thereby admitting or incurring any liability exercise all or any of the rights, powers and privileges conferred upon it by the Company in the exercise of any such right power or privilege shall be pleased by way of estoppel against the Company so as to prevent the Company subsequent to the exercise of any such power or privilege from relying upon each and every Provision and Condition of the Policy is resisting any claim wholly or in part.

 
10.  

All difference arising out of this Policy shall be referred to the decision of an Arbitrator to be appointed in writing by the parties in difference or if they cannot agree upon a single Arbitrator to the decision of two Arbitrators one to be appointed in writing by each of the parties within one calendar month after having been required in writing so to do either of the parties of in case the Arbitrators do not agree an Umpire appointed in writing by the Arbitrators before entering upon the reference. The making of an Award shall subject to any relevant Statutory provision to the contrary be a condition precedent to any right of action against the Company but if such action shall be deemed to be abandoned and released. After the expiration of one year after the accrual of the cause of action the Company shall not be liable in respect of any claim thereof unless such claim shall in the meantime have been referred to Arbitration.

 
 
IMPORTANT NOTICE
 
 
The Policy Wording displayed above is meant for reference only, and should under no circumstances be used without the express written consent of Asia Insurance (Cambodia) Plc.
   
« Go Back