Page 68 - Hollard Business Branch Policy Wording

Money
SPECIAL CONDITIONS (applicable to Sub-Sec on A)
1. Cheques
Any loss or series of losses a ributable to one original event which is payable under this Sec on and which results from the the of any cheque or cheques shall be reduced by a rst amount payable of 25% (twenty ve percent) of the loss iden able by this Sec on unless:
1.1 Cheques drawn by the Insured:
1.1.1 the cheque has been drawn and crossed exactly in accordance with the "Recommended South African Insurance Associa on (SAIA) procedure for the drawing and crossing of cheques" or any other superior method approved by the SAIA and the printed por on of the cheque (as opposed to the wri en or typed por on) has been printed by the bank itself or a printer licensed to print cheques by the Automa c Clearing Bureau; or
1.1.2 the cheque has been dispatched to the payee by cer ed post or any post where the security is equal or superior to cer ed post.
1.2 Cheques drawn by someone other than the Insured and which were received by the Insured by post or direct by the cashier:
1.2.1 such cheque has been crossed and marked 'not nego able' and marked 'not transferable' immediately on receipt thereof by the Insured; and
1.2.2 the Insured is able to iden fy the drawer and amount of the cheque from their records.
1.3 Cheques of which the Insured is the true owner which were drawn by someone other than the Insured and posted to the Insured but not received:
1.3.1 the cheque has been drawn and crossed exactly in accordance with the "Recommended SAIA procedure for the drawing and crossing of cheques" or any other superior method approved by the SAIA; or
1.3.2 the cheque was dispatched to the Insured by cer ed post or any post where the security is equal or superior to cer ed post; or
1.3.3 the invoice of the Insured (to which the payment by cheque relates) contains a message (approved by the Company or SAIA) on it recommending or requiring that the cheque be drawn in accordance with the "Recommended SAIA procedure for the drawing and crossing of cheques".
2. Money in transit
Unless otherwise stated in the Schedule, the Company shall compensate the Insured for loss of or damage to money as de ned whilst in transit:
PROVIDED THAT:
2.1 the transit route is by direct journey and uninterrupted to and from the bank;
2.2 the money is not le in an una ended vehicle;
2.3 money up to R20 000 (twenty thousand Rand) is carried and under control of at least one permanent employee of the Insured;
2.4 money more than R20 001 (twenty thousand and one Rand) but less than R30 000 (thirty thousand Rand) is carried and under control of at least two permanent employees of the Insured and split equally between them;
2.5 money in excess of R30 001 (thirty thousand and one Rand):
2.5.1 is carried by an approved and professional money handler;
2.5.2 is carried in a vehicle speci cally converted for the purpose of carrying cash;
2.5.3 the vehicle is equipped with armed guards and linked to a control room; and
2.5.4 Provision 2.1, 2.2, 2.3 and 2.4 shall not apply to Provision 2.5.
The Insured shall be responsible for the rst 15% ( een percent) of each claim with a minimum of R1 000 (one thousand Rand) or the amount stated in the Schedule.
Hollard Business Policy – Branch – Version 1 2018 Page | 67