General Conditions: 

1. Notices and Alterations to the Policy: Every notice and communication to the Company required by this policy shall be in writing and to be addressed to the nearest office of the Company and the acknowledgment of service shall be obtained from the Company. 

2. Duty of Disclosure: This Policy shall be void and all premiums paid here on shall be forfeited to the Company in the event of misinterpretation, mis-description or non-disclosure of any material fact in the proposal form, personal statement, declaration and connected documents, or any material information having been withheld.

 3. Reasonable Care: The insured shall take all ordinary and reasonable precautions for the safety of the property insured, and shall asa far as practicable make use of all locks, bolts, fastenings and other means of securing any saves, strong-rooms and premises which such property is contained therein. 

4. Basis of Sum Insured: The Sum Insured under the Policy would be fixed on current market for stocks. For other items as furniture, fixture, equipments, etc. It can be fixed either on Market Value(i.e. New replacement cost less depreciation) or on Reinstatement Value Basis. 

5. Mid Term Increase in Sum Insured: In the event of an increase in the Sum Insured being agreed to, the Company shall charge on such increased sum an additional provisional premium on a basis proportionate to the unexpired period of the policy.

6. Mid Term Reduction in Sum Insured: In the event of a decrease in the Sum Insured being agreed to, the Company shall refund premium on such reduction in Sum Insured. The premium refunded will be Premium collected less premium chargeable for the expired period on a short period scale. Expired period is period from policy inception date till date of decrease in sum insured endorsement.