REINSURANCE CONTRACT
Article 1
The reinsurer and the reinsured shall enter into a reinsurance contract as set forth herein. The present reinsurance contract consists of the following articles.
Article 2
The reinsurer shall cede to the reinsured all risks, liabilities and losses that may arise from all contracts of insurance, which the reinsured may enter into during the term of this contract and for the risks, liabilities and losses for which the reinsured is liable with the exclusion of any and all risks that are not of a character to which the reinsurer has agreed to accept and settles through this contract.
Article 3
The reinsured shall furnish the reinsurer with full particulars of all policies of insurance, to which the present contract applies. These particulars shall include copies of all documents forming part and parcel of such policies, which the reinsured shall receive from the assured parties.
Article 4
The reinsurance contract are subject to and shall be construed in accordance the laws of [jurisdiction that governs the contract], whichever is applicable and shall be interpreted in all respects accordingly.
Article 5
The reinsurer agrees to pay the reinsured an amount specified in the reinsured insurance policy, but not more than the sum have agreed to accept.
Article 6
In case of disputes arising between the reinsured and the reinsurer, the reinsurer shall refer the matter to arbitration and the findings of the arbitrators shall be binding on both parties.
Article 7
The reinsurer shall be liable to the reinsured only to the extent of the amount that the reinsurer shall have assumed by the contract and shall not be liable for any damages, costs or liabilities beyond the specified amount.
Article 8
This reinsurance contract shall continue until terminated by either the reinsured or the reinsurer, provided that at least thirty days written notice is given to the other party of the same.
Article 9
The reinsured hereby undertakes to indemnify the reinsurer for all liabilities, losses, expenses and costs that may arise from his/her/its failure to comply with the terms and conditions of the present contract.
Article 10
In witness whereof, the parties have hereunto set their hands this [date].
______________________________________
Representative of Reinsured
______________________________________
Representative of Reinsurer
