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Agreement With Scrap Vendor

If the seller performs work at any time on the buyer`s premises during this order, he undertakes to take out the insurance of the work allowance in accordance with the applicable legal requirements as well as the employer`s liability insurance for an amount of at least 1,000,000 USD. All of the above-mentioned insurances must offer a waiver of the assignment, if permitted by law, in favour of the purchaser. In addition, liability policies must include the purchaser, its directors, senior managers, representatives and staff as additional policyholders. Coverage should also be considered primary and non-contributory. At any time of this order, the seller undertakes to maintain auto liability insurance for personal and property damage, including coverage of vehicles in possession, in unsealed and leased vehicles, for an amount of no less than $1,000,000. At any time during this order, the seller undertakes to maintain comprehensive general liability insurance for personal and property damage for at least USD 1,000,000 per event and 1,000,000 USD in total. Insurance includes insurance coverage for the following: Local/operating liability, operating revenue/responsibility, exclusion from explosion, collapse and subway (XCU), lump sum liability, liability for personal injury, property damage in a broad form, independent contractor and fire safety liability. SCHROTTMETALLDIENSTLEISTUNGEN, LLC. (“Buyer”) General CONDITIONS AND PURCHASE CONDITIONS At all times during this order, the seller undertakes to maintain the contractor`s equipment insurance on an all risk basis covering devices that are property, leased or used by the seller. This insurance includes a waiver of the assignment for the benefit of the buyer.

The seller also undertakes to release the buyer for losses or damage to his equipment and to keep him unscathed. The seller`s insurance certificate must contain the text of the above clause or refer specifically to that clause. The certificate must also provide that the buyer will receive no less than 30 days before the written notification of substantial changes or cancellations of these policies.

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