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Insurance confirmation

EIS Charter Seal for charter agencies

We hereby confirm that the following charter agency

Argos Yachtcharter & Touristik GmbH

Storchenallee 5
DE-65201 Wiesbaden

(hereinafter only the "charter agency")

has concluded an bankruptcy hedging for the year listed in the adjacent seal.

Argos Yachtcharter & Touristik GmbH

Storchenallee 5
DE-65201 Wiesbaden

Fon: +49 611 66051
Fax: +49 611 691236
E-Mail: mail@argos-yachting.de
Web: www.argos-yachtcharter.de

The following insurance cover applies for the charter agency clients:

§ 1 Scope of insurance cover

The insurer cover

the loss of the legally existing claim for repayment of a boat / yacht or berth charter price paid by the charter customer in the contract year due to the non-performance of the service as a result of the bankruptcy of the insured charter agency;

takes all the costs for the legal assertion against the insured charter agency after positively checking the claim and its enforceability and only by an advocate named by the insurer.

Example: Failure of your charter due to non-forwarding of client funds from the charter agency to the charter operator.

§ 2 Scope

The insurance applies worldwide.

§ 3 Compensation and insurance sums

Court costs and lawyer’s fees with regard to the enforceability of the charter price repayment.

In the case of bankruptcy of the charter agency, the collected, not forwarded and not refunded charter price up to a maximum amount of 20,000 EUR/charter. A pro-rata service of the charter operator has to be charged in relation of the total charter and the complete price.

The insurer's payment is limited to a maximum of 33% of the total charter price up to 6 weeks before the start of the charter.

For all clients concerned a cumulative limit of 110.000 EUR per bankruptcy of the charter agency is deemed as. Shall the amount exceed this limit the single refund claims will decrease in relation to which the total amount stands to the maximum amount.

§ 4 Exclusions

Excluded from the insurance cover is:

Claims of the customers, provided that the charter agency has concluded a contract with the charter customer as lessor / charterer, i.e. has not acted as an agent and/or has offered the charter in its own name;

The loss of the charter due to a reason which are the fault of the charter client or which the client already knew even before concluding the charter contract;

Charter prices whose are not paid directly to the charter agency by bank transfers (bank transfer, direct debit, and credit card);

The bankruptcy application given to the bankruptcy intermediary charter agency or charter operator even before the conclusion of the charter contract.

§ 5 Damage report

The charter client is forced to report the claim immediately upon knowledge of the faulty service or the information of insolvency of the charter agency. The report needs to be given to:

EIS European Insurance & Services GmbH

Scharfe Lanke 109-131

D-13595 Berlin

Claim Hotline +49 30 214082 20 (24 h / 7 days Hotline)

E-Mail claim@eis-insurance.com

§ 6 Obligations in the event of a claim and its consequences in case of injuries

The policy holder and the insured client are forced to report the claim immediately, however, within two working days at the latest, upon knowledge and to guarantee the claim reduction and prevention of damage as well as to obtain and observe instructions of EIS European Insurance & Services if circumstances permit. On demand of EIS/insurance company the policy holder has to provide every information and proofs whose are necessary to define the claim and the performance obligation of the insurer.

Should the policy holder or the insured client violate one of these obligations the insurer is released from the obligation to compensate the claim according to the legal regulations (especially §§6 and 62 VVG)

Should the policy holder or the insured client have claim damages against a third party the claim will pass on to the insurer as far as the insurer compensates the claim to the policy holder or the insured client (§ 67 VVG). If the policy holder or the insured client waive the claim against the third party or a right served to secure this claim the insurer is released from his performance obligation in so far as he could get a refund from the claim or the right.

§ 7 Legal base

Legal base of this cover is the German law. The current instructions of the insurance contract law (Versicherungsvertragsgesetz – VVG) are valid.

§ 8 Court of jurisdiction

As the court of jurisdiction Berlin is deemed as agreed.

The insurance company is Triglav Osiguranje d.d., Antuna Heinza 4, HR-10000 Zagreb.

In case of damage ...

The claim hotline of EIS European Insurance & Services GmbH is available under +49 (0)30 214082-20 24 hours a day.

We recommend to contact our claim department by mail under claim@eis-insurance.com to guarantee a rapid data exchange and processing.

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