Page 246 - Binder2

Long Term Agreement – Expiry Date: 31 March 2022

Until the long term agreement expiry date shown above the public authority undertakes to offer to
renew annually the insurance under this policy on the terms and conditions in force at the expiry of
each period of insurance provided it is understood that;

a) the insurer is under no obligation to accept the offer to renew made in accordance with the above
mentioned undertaking;
b) the insurer may increase the Aggregate Stop Limit at each renewal date by up to following
agreement to such increase by the public authority.
The above mentioned undertaking applies to any policy which may be issued by the insurer in
substitution for this policy.
Payment of the premium as specified will be deemed acceptance by the public authority of the
policy terms.
The public authority has the option to extend the expiry date annually by a further two years at its
discretion.