Declaration and Acknowledgement
Dubai on July 22nd of 2017.
Attn. Messer: The New India Insurance Company
We the undersigned hereunder/ Century Hospital, foundation type:………….. Located at …………… registered in ……………. P.o. pox ………………. Dubai, United Arab Emirates. We hereby declare and acknowledge of the content and subject thereof in favor of The New India Insurance Company, its registered head quarter at p.o. pox no. 46743, Abu Dhabi. According to provisions and terms stated by such Declaration and Acknowledgement in the interest of the company as the following;
Preamble
Whereas we the acknowledged and undersigned party have executed insurance policy no. 49/911904/4900108/17 for the period of only one year commencing from 18/07/2017 and ending on 17/07/2018 with The New India Insurance Company to cover our project against the risks strictly stipulated pursuant to terms and conditions of the abovementioned Insurance policy. Whereas the said insurance policy was executed and dedicated to provide insurance coverage for one year only, and municipality requested us to present a certificate of the insurance coverage for all the period of the project according to the certificate formula attached hereto, then the insurance coverage period requested by such certificate must be extended to thirty years pursuant to the entire contractual period of project. Whereas the insurance policy in relation covers a period of one year only and may be renewed on annual bases upon written consent from the company and according to the new terms and conditions approved by the company for every renewing individually. And in case of not agreeing to renewing the insurance coverage, we the undersigned hereby Century Hospital shall be obliged to execute another insurance policy with another considerable, certified and reputable insurance company in the scope of United Arab Emirates in order to bear any insured risks by the new insurance coverage policy when expiry of the first said insurance policy on 17/07/2018 with The New India Insurance Company.
Specially, the two parties acknowledges that the certificate required is dedicated for procedural purpose for requirements of the municipality , and such certificate in case issued shall not amend provisions or terms of the insurance coverage which shall remain governed according to provisions, terms, conditions, exceptions and validity period of the abovementioned policy here attached.
Accordingly, we the undersigned solicited the New India insurance company to accept our application for allowing issuing the abovementioned certificate in the required draft submitted by us. Then, according to such acknowledge and declaration the New India Insurance Company didn’t refuse to give use said certificate as long as we present all legal guarantees to confirm that such certificate shall not prejudice to the contractual relation, declarations, provisions, terms and conditions stipulated virtue of the insurance policy here above shown. Accordingly, we the undersigned executed this declaration and acknowledgement in favor of The New India Insurance Company.in witness thereof we acknowledge and declare as follows;
<!--We, Century Hospital hereby declare and acknowledge with all legal guarantees in favor of The New India Insurance Company that the required certificate to municipality (here attached a copy of the same) has been issued upon our request and urgent need as being an imperative proceeding must be submitted by us to municipality in order to approve continuing the project, and such certificate doesn’t imply any additional details other than what is stipulated in the insurance policy entered and issued by The New India Insurance Company, and said certificate shall not impact the insurance policy, and doesn’t contain any extension or expansion to the insurance coverage because the insurance coverage provided to us by The New India Insurance Company shall remain governed by terms, conditions, provisions, exceptions and the period of the policy which is defined for one year only, and we are absolutely aware of this insurance policy, its articles provisions and exceptions, and such certificate shall not be considered as an insurance document and shall not affect the principal insurance policy or be deemed as extension or expansion to the insurance coverage in any case or be as addition to it of any nature and shall not oblige the company with any obligations, except what is stated in the original policy as forgoing stated its number.
<!--Also, We, Century Hospital hereby declare and acknowledge submitting a copy of the said insurance policy to municipality with all of its provisions, terms and conditions and exceptions, we undertake to provide municipality with a valid insurance policy on annual bases in order to protect and hold the company harmless against any claims after expiry of the insurance policy on 17/07/2017, accordingly we, Century Hospital, hereby declare and acknowledge that the New India Insurance Company shall not be liable for any amounts exceed the stipulated amounts by the insurance policy no. 49/911904/4900108/17 for the period of only one year commencing from 18/07/2017 and ending on 17/07/2018 .
<!--We, Century Hospital, hereby declare and acknowledge that the certificate issued to municipality doesn’t contain or imply any expansion or extension to the insurance coverage as per the aggregate amount of compensations agreed upon and doesn’t imply any extension for the insured period virtue of the insurance policy no. 49/911904/4900108/17 for the period of only one year commencing from 18/07/2017 and ending on 17/07/2018. And conditions, terms and provisions of the policy shall be applied between its parts against the third party, and that we doesn’t have any right to claim the company with settling any amounts that may exceed the aggregate amount agreed upon in the policy according to its provisions, terms, conditions and exceptions, and such acknowledge and declaration shall be deemed as the real agreement and contrary document to said certificate issued by the company without any responsibility to the company of any nature whatever, and such declaration and acknowledgement shall remain enforce and applied continually.
<!-- We the undersigned acknowledge and declare that we didn’t pay to the company any payments of any nature to the New India Insurance Company in consideration for issuing said certificate, and that the company didn’t receive any material or immaterial consideration or any benefit or interest of any nature in consideration for said certificate, and shall not undertake any obligation by virtue of what is stated in the certificate either against the insured party or against the third party , and in case that the company posed any liability or claims by municipality or the third party or any other party because of the required certificate ( here attached a copy thereof ) or because we didn’t provide an insurance policy with another insurance company after expiring the policy provided to us by the New India Insurance Company, then we shall bear all liability and undertake to compensate the company for any amounts or compensations may be incurred by the company in concern, and we undertake to bear all litigation expenses, attorney fees and in general we declare with all legal guarantees that the New India Insurance company is not obliged to cover our project for more than one year by virtue of the insurance policy which will expire on 17/07/2017 and such policy shall not be renewed without a new policy with the company after settling the insurance premiums of renewing.
<!--We, Century Hospital declare, and acknowledge that New India Insurance Company is not obliged to renew the insurance policy and have the right to refuse renewing after expiry of the policy on 17/07/2017. Then, in this case we shall be obliged to execute another insurance policy with another insurance company and we undertake to do the same.
<!--We, Century Hospital, declare that the certificate shall not be deemed as final consent of the company to continue or renew the current policy, but only just being the company ready to renew the policy on annual bases with provisions, terms and conditions that the company may approve in case the two parties intended to renew as per the sole discretion of every party. And any renew shall not be considerable without being written and after settling the premiums by us. And the required certificate ( here attached a copy thereof ) shall not be deemed as an obligation to the company to renew the insurance policy under any stipulation, except by approve of the company be notice in writing.
<!--If any claims or liabilities raised against the company by virtue of such certificate, then we undertake to compensate the company for all without arguing on its amount, and we undertake to settle all amounts, fees, costs and judicial expenses incurred by the company entirely regarding any claims, disputes or liabilities that may arise out of such certificate ( here attached a copy thereof ) that we required in interest of municipality, and we undertake to compensate the company for any damages and/or losses may arise as a result of using such certificate or basing on the same either by the insured entity or any third party or the assignee in the project or its fellows and everyone adheres to such certificate, then we shall be obliged to compensate the company for anything may arise out of or be related to the same, in all case, of damages, losses, costs and expenses of any nature. And in case the company posed any claims based on this certificate, we undertake to pay to the company all incurred amounts by the company to release itself from liabilities when upon request by the company.
<!--We the undersigned acknowledge and declare that we had reviewed the draft of certificate before presenting to the company in order to be signed and sealed by the same in purpose of our project and in witness thereof we executed and signed such declaration and acknowledgement as a guarantee to the company where we declared that such certificate shall not arrange any additional obligations to the company in any case and that this certificate has been issued by the company as an answer to our solicit, and we declare that everything stated in such certificate ( here attached a copy thereof) was upon our desire and under our knowledge and responsibility in the formula we strictly requested and defined latterly to the company.
<!--We the undersigned declare and undertake to submit a copy of the insurance policy no. 49/911904/4900108/17 for the period of only one year commencing from 18/07/2017 and ending on 17/07/2018 to municipality and any other body we deal with.
<!--This declaration has been executed in three copies, one for us and the last two copies for The New India Insurance Company.
<!--This agreement and declaration shall subject to laws of United Arab Emirates, and Abu Dhabi courts shall have jurisdiction to settle any dispute arise out of the same.
In witness thereof, we carefully reviewed the instant document and copies of certificate and insurance policy attached thereto then we signed the same.
<!--Acting on behalf of Century Hospital
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<!--Acting on behalf of The New India Insurance Company.
Name/………………….
Signature/
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