Goods in Transit (GIT) Insurance Policy

1. Introduction & Purpose

This Goods in Transit (GIT) Insurance Policy ("this Policy") sets out the terms on which FleetXchange makes optional GIT insurance cover available to Clients booking Loads through the FleetXchange platform. Cover is underwritten by Botswana Insurance Company Limited ("the Insurer" or "BIC") under its Commercial Select Policy, Section 10 — Goods in Transit, read together with BIC's General Exceptions, Conditions & Provisions (both dated 09/2019, as amended). This Policy is a summary of the material terms of that underlying cover, prepared for the benefit of Clients. Where any conflict arises between this Policy and the underlying BIC policy wording or the schedule issued to FleetXchange, the underlying BIC policy wording and schedule shall prevail. This Policy should be read together with the FleetXchange Client Service Level Agreement and the FleetXchange Cancellation & Refund Policy.

2. Definitions

• "Client" means the party booking a Load through the FleetXchange platform and opting into GIT insurance cover.
• "FleetXchange" means Fleetxchange (Pty) Ltd, which arranges GIT cover on behalf of Clients and facilitates claims with the Insurer.
• "Insurer" or "BIC" means Botswana Insurance Company Limited, the underwriter of the GIT cover.
• "Load" means the cargo booked for transport through the FleetXchange platform in respect of which GIT cover has been opted into.
• "Transit Period" means the period during which cover applies, as defined in Clause 5.
• "Excess" means the first amount payable by the Client on a successful claim, as set out in Clause 8.
• "Declared Value" means the value of the Load as declared by the Client at the time of booking, on which the GIT premium and the applicable Excess band are calculated.

3. Nature of Cover

GIT insurance is optional. It is offered at the time of booking and shown as a separate line item on the booking invoice, and the Client may opt out before confirming a booking. Where the Client opts out, the Client bears the risk of loss of or damage to the Load, and FleetXchange accepts no liability for such loss, theft, or damage to uninsured goods. FleetXchange is not the insurer under this Policy — it arranges cover with BIC on the Client's behalf and facilitates the claims process, but the assessment, acceptance, and settlement of claims is determined solely by BIC.

4. Insured Events

Subject to the exclusions in Clauses 6 and 7, the Insurer will indemnify the Client for loss of, or damage to, the Load during the Transit Period, where such loss or damage is caused by an accident or misfortune not otherwise excluded. The Insurer's total liability for any one insured event shall not exceed the limit of indemnity applicable to the Load, as recorded at the time of booking. Where the Client's booking schedule specifies a fire, explosion, collision, derailment and overturning limitation, cover is restricted to loss or damage caused only by those specified perils.

5. Transit Period

Cover commences at the time the Load begins moving at the point of collection, including loading onto the transporting vehicle, and continues throughout the journey, including temporary storage not exceeding 96 hours in the course of the journey. Cover ends when the Load is offloaded and delivered at the destination specified in the booking. Where the consignee refuses to accept the Load, cover is deemed to continue until the Load is returned to the point of collection, provided reasonable steps are taken to arrange such return without delay. Where the means of conveyance breaks down or the Load is otherwise endangered during transit, the use of an alternative form of transport to complete the journey shall not affect cover.

6. Goods in Transit — Specific Exclusions

The Insurer shall not be liable for loss or damage resulting from or caused by:

• theft from an unattended vehicle, unless the Load was contained in a fully closed and securely locked vehicle (or housed in a securely locked building), and entry to or exit involved forcible and violent entry;
• inherent vice or defect in the Load, vermin, insects, damp, mildew, or rust;
• dishonesty of any principal, partner, director, or employee of the transporter, whether acting alone or in collusion;
• detention, confiscation, or requisition of the Load by customs or other officials or authorities;
• breakdown of refrigeration equipment;
• wear and tear or gradual deterioration, including the gradual action of light or climatic or atmospheric conditions, unless following an accident or misfortune not otherwise excluded;
• mechanical, electronic, or electrical breakdown, failure, breakage, or derangement of the Load, unless following an accident or misfortune not otherwise excluded.

The Insurer shall not be liable for loss of or damage to cash, bank or currency notes, coins, bonds, coupons, stamps, negotiable instruments, title deeds, manuscripts, or securities of any kind; nor for property located outside Botswana, Lesotho, Namibia, Eswatini, Zimbabwe, Malawi, and South Africa. Where the Load is otherwise insured, the Insurer's liability is limited to any excess beyond the amount payable under such other insurance. The Insurer shall not be liable for consequential loss of any kind, including delay, loss of market, depreciation, or changes brought about by natural causes.

7. General Policy Exclusions

In addition to Clause 6, the following general exclusions apply: war, invasion, act of foreign enemy, hostilities or warlike operations (whether declared or not), and civil war; confiscation, nationalisation, or requisition by order of any government or public authority; mutiny, civil commotion, military rising, insurrection, rebellion, revolution, martial law, or usurped power; politically motivated riot, strike, lock-out, or civil disturbance intended to bring about political, social, or economic change (non-politically motivated labour disturbance is not excluded on this ground); ionising radiation, contamination by radioactivity, or nuclear weapons material; terrorism as defined in the underlying BIC policy; loss arising from the hazardous nature of asbestos; failure of any computer or data processing system to correctly recognise or process any date or data (subject to the Special Extension preserving cover for resulting fire, explosion, storm, and certain other physical perils); and any infectious epidemic or pandemic, and any resulting quarantine, movement restriction, or travel advisory.

8. Excess (Deductible)

All successful claims are subject to an Excess, payable by the Client and not covered by FleetXchange, the transporter, or the Insurer. The Excess is the greater of 10% of the value of the claim, or the minimum Excess applicable to the Declared Value band:

The Excess is deducted from the claim settlement before any payout. Where the settlement is less than the applicable Excess, no payout is made and the Client bears the full loss. Claims arising from fire, lightning, or explosion are not subject to this Excess. The Excess applies per claim and is separate from, and in addition to, the GIT insurance premium payable at booking.

9. Claims Procedure

Where the Load is lost or damaged during the Transit Period, the Client shall notify FleetXchange within 24 hours of delivery being completed, or of delivery failing to be completed, providing the booking reference, a description of the Load and its Declared Value, photographs of the damage where applicable, the signed proof of delivery or exception note, and (for theft claims) a police report. FleetXchange shall facilitate the claims process with the Insurer and provide the relevant claim documentation. The Insurer's assessment and settlement decision is independent of FleetXchange, whose role is limited to facilitating the claim. Where a successful claim is made, FleetXchange shall not separately reimburse the Client for the same loss; the insurance payout is the Client's remedy, without prejudice to any rights against the transporter for losses exceeding the insured amount or caused by gross negligence. No claim shall be payable more than 24 months after the date of the event giving rise to the claim, unless subject to pending legal action.

10. Client Obligations

The Client shall declare the true value of the Load at the time of booking; under-declaring may reduce the amount recoverable on a claim. The Client shall take all reasonable steps to prevent loss of or damage to the Load, and to report any loss or damage promptly in accordance with Clause 9. Any claim that is in any respect fraudulent, or that involves the use of fraudulent means to obtain a benefit, shall be forfeited in respect of that claim.

11. Relationship to Other FleetXchange Policies

This Policy operates alongside, and does not replace, the FleetXchange Client Service Level Agreement and the FleetXchange Cancellation & Refund Policy, both of which contain further provisions relating to GIT insurance, including premium calculation, refund treatment on cancellation, and the claims process. Where the Client opts out of GIT cover, the provisions of this Policy do not apply, and the Client acknowledges the risk allocation described in Clause 3.

12. Governing Law

This Policy is governed by the laws of Botswana. The underlying cover is subject to the full terms, conditions, exceptions, and provisions of the BIC Commercial Select Policy, including its General Exceptions, Conditions & Provisions and Section 10 — Goods in Transit, as issued and amended by the Insurer from time to time.

13. Contact

For questions about GIT cover, a specific booking, or to initiate a claim, contact FleetXchange through the platform's Support Ticket system, quoting the relevant booking reference, or email info@fleetxchange.africa. FleetXchange will facilitate the Client's claim with Botswana Insurance Company Limited.

Fleetxchange (Pty) Ltd · Plot 920, African Mall, Gaborone, Botswana · info@fleetxchange.africa · 76666598