Collateral insurance

Credit agreement provides that property pledged for the benefit of the bank (collateral) must have uninterrupted insurance cover throughout the entire credit agreement period. A copy of the property insurance contract alongside with a document evidencing payment of your latest insurance premium should be submitted to our bank no later than within 5 days as of the date of an amendment or execution of the insurance contract. If the insurance period of the property pledged under the Agreement expires before credit maturity, an extended / new insurance policy should be provided to our bank no less than within a 10 (ten) days’ period before expiry of the existing insurance policy.