Renew Open Policy

The document titled 'Renew Open Policy' is a letter that is used to request the renewal of an open policy. The open policy is a type of insurance policy that allows the insured party to declare shipments periodically, rather than having to declare each shipment individually. The letter begins with a salutation and includes the current date. It is addressed to the recipient, who is referred to as 'sir/madam'. The letter states the policy number, which is the unique identifier for the current policy.

 

The main purpose of the letter is to inform the recipient that the enclosed form declares a further consignment, which is valued at a specific amount. The letter explains that this will be the last full declaration under the current policy because the undeclared balance is not sufficient to cover the next consignment. Therefore, the sender requests the issuance of a new policy on the same terms and for the same amount as the current policy.

 

The letter also outlines the process for future shipments. It states that when the next shipment is made, it will be declared against the present policy for the balance and against the new policy for the amount by which the value of the shipment exceeds the current policy amount. The letter ends with a closing and the sender's name.

 

In summary, the 'Renew Open Policy' document is a letter that requests the renewal of an open policy and provides information about the current and future shipments.

How to use this document?

To use the 'Renew Open Policy' document, follow these steps:

1. Fill in the account first name and account last name in the designated fields.

2. Enter the account job and company information in the appropriate sections.

3. Specify the current date by selecting it from the provided options.

4. Address the letter to the recipient by using the appropriate salutation.

5. State the policy number in the designated field.

6. Complete the form declaring the further consignment by providing the necessary details, such as the value of the consignment.

7. Explain that this will be the last full declaration under the current policy due to the insufficient undeclared balance.

8. Request the issuance of a new policy on the same terms and for the same amount as the current policy.

9. Clarify the process for future shipments, stating that they will be declared against the present policy for the balance and against the new policy for the excess amount.

10. Close the letter with an appropriate closing and include the sender's name.

By following these steps, you can effectively use the 'Renew Open Policy' document to request the renewal of an open policy and provide the necessary information about current and future shipments.