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Rule 57 Deductibles

1 Save as set out in Rule 57. 2 below, and unless otherwise agreed, the cover shall be subject to a deductible of USD 10,000 in respect of all liabilities, losses, costs and expenses arising under any one entry from any one event.

2 To the extent the Vessel is:

i) US owned, operated or managed or

ii) the liabilities, losses, costs and expenses are made, asserted or enforced in the US,

the cover shall be subject to a deductible of USD 250,000, unless otherwise agreed with the Association.

3 The standard deductible for all legal and other costs covered under Rules 44 and 45 and incurred by all the Assureds under any one Defence entry and arising out of any one event shall be 25 per cent of the legal and other costs incurred, subject to a minimum deductible of USD 5,000 and a maximum deductible of USD 50,000. The Association shall determine in its absolute discretion in respect of Defence cover, whether any costs and expenses have arisen out of one or several events.