The insurance contract is capable of being extended because of decades being in the extension and renewal will implicit association in time, which is an essential element of the. The purpose of the extension and renewal, and one only that there is a difference between them as follows:
- Extension: You must explicitly stipulated in the contract are not only under this provision. This is what is going to damage insurance contract.
- Renewal: without the need for explicit wording but once the continuation of the parties to meet their obligations arising from the contract after the expiry of the term specified in the contract agreement .This being the work regarding the lease.
The banned custom - In the insurance market - That it is permissible under the condition blogger in the policyholder apparently agree on a contract extension of his own year by year ( [1] ) .
( [1] ) Article (9) of the government project, equivalent text article (1061) of the preliminary draft of the Civil Code, that "in the insurance of damages may, under the condition editor in document apparently, the agreement over the decade of its own if it does not insured him before the end of his term at least thirty days to inform the insurer registered letter with acknowledgment of receipt == arrival of his desire to not extend the contract. nor the coming into force of this extension only year by year, shall be null and void any agreement to be an extension of insurance for more than a year."
التسميات
insurance expiration