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Terms of Trade

Brokerage

Brokerage on Liability is 15%

NewBusiness Placements

When an instruction to bind cover on a riskis received, the following protocol applies:

• Australis will confirm cover in writing on the day the instruction is received;
• Your premium calculation sheet or closing is required by Australis within 14 days from the inception of the cover to confirm total premiums due;
• Premium payment is required within 30 days of risk inception.

Renewals

• In the majority of cases,we will contact you six weeks prior to renewal to update risk acceptance and rating data.
• A renewal invitation is faxed or emailed to your office;
• Subject to Section 58 of The Insurance Contracts Act, cover ceases at 4.00 pm on the expiry date shown on the Renewal Invitation;
• Your renewal instructions must be received on or prior to this date for cover to continue (no automatic hold cover provisions apply);
• Your renewal closing and premium payment mustbe received within 30 days from renewal date.

Credit terms

Premium payment is payable within 30 days of risk inception. We recognise thedifficulty in sometimes meeting these credit terms if premium funding applies and in such cases, we will relax our terms subject to you advising us in advance of the 30 days that funding applies in that instance.