Rule 1 Interpretation

In these Rules the following words or expressions shall have the followingmeanings:

Affiliate

anypersonwho isinsuredpursuantto Rule78.1(a).

Agent

for entries withAssuranceforeningenGard –gjensidig –or Gard P.& I. (Bermuda) Ltd., the ‘Agent’ means Gard AS and its subsidiaries.

Articles ofAssociation

for entries with Assuranceforeningen Gard -gjensidig-, the Statutes of Assuranceforeningen Gard -gjensidig- and for entries with Gard P. & I. (Bermuda) Ltd, the Bye-Laws of Gard P. & I. (Bermuda) Ltd.

Association

for entries with Assurance foreningen Gard -gjensidig-the ‘Association’ means Assurance foreningen Gard -gjensidig-and forentries with Gard P. & I .(Bermuda) Ltd the ‘Association’ means Gard P. & I. (Bermuda) Ltd.

Bill of Lading

bill of lading or similar document of title.Certificate of Entry document issued by the Association pursuant to Rule 5.1, including (where the context permits) any endorsement note in respect of the relevant entry issued pursuant to Rule 5.3, which evidences the terms and conditions of the contract of insurance in respect of the Ship.Charterer’s Entry an entry effected by a charterer and which does not insure any other person except asa Co-assured oran Affiliate.

Consortium Agreement

shall have the meaning given to it in Appendix II

Consortium Claim

shall have the meaning given to it in Appendix II

.Consortium Vessel

shall have the meaning given to it in Appendix II.

Co-assured

any person who is insured pursuant to Rule 78.1(b).

Crew

officers, including the master, and seafarers contractually obliged to serve on board the Ship, including substitutes and including such persons while proceeding to or from the Ship.

Defence cover and Defence entry

insurance by the Association for risks specified in Part IV of these Rules, and the entry of a Ship for such cover.

Estimated Total Call

the agreed rate of premium in respect of an entry for a Policy Year, or the fixed premium payable to the Association on a fixed premium entry, according to the terms of the Ship’s entry.Group Excess Loss Policies

the excess of loss reinsurance policy or policies effected by parties to the Pooling Agreement.

Group Reinsurance Limit

shall have the meaning given to it in Appendix VI.

Hull Policies

the insurance policies effected on the hull and machinery of the Ship, including any excess liability policy.

Insurance Premium Tax

Any taxes or other dues payable in respect of an entry of a Ship in the Association in the country where the Ship is registered, the country where the Member is resident, the country where the Member has a permanent place of business or in the country where the risk is located.

Joint Members

where the Ship is entered in the names of more than one Member, the named Members.

Knock for Knock

a provision or provisions stipulating that each party to a contract shall be similarly responsible for loss of or damage to, and/or death of or injury to, any of its own property or personnel, and/or the property or personnel of its contractors and/or of its and their sub-contractors and/or of other parties, and/or; liability arising out of the ownership or operation of its own property, and that such responsibility shall be without recourse to the other party and arise notwithstanding any fault or neglect of any party and that each party shall, in respect of those losses, damages or liabilities for which it has assumed responsibility, correspondingly indemnify the other against any liability that that party shall incur in relation thereto.

Member

an owner, operator or charterer (including a bareboat or demise charterer) of a ship entered in the Association who according to the Articles ofAssociation and these Rules is entitled to membership of the Association, provided that, where the context allows, the term ‘Member’ shall, in theseRules, include a Co-assured and an Affiliate.

Overspill Call

shall have the meaning given to it in Appendix VI.Overspill

Claim

shall have the meaning given to it in Appendix VI.

Owner’s Entry

an entry effected by an owner, bareboat or demise charterer or operator of the Ship and which does not insure a charterer of the Ship (other than a

charterer insured as a Co-assured or an Affiliate).

Owners’ General Discount

a general discount in the Estimated Total Call for a Policy Year (other than a fixed premium entry) determined by the Association pursuant to Rule12.1.P&I cover and P&I entryinsurance by the Association for risks specified in Part II of these Rules, and the entry of a Ship for such cover.

Policy Year

a year from noon GMT on 20th February in any year to immediately prior to noon GMT on the next following 20th February.

Pooling Agreement

an Agreement, to which the Association is a party, between certain protection and indemnity associations dated 20 February 1998 and any addendum to, or variation or replacement of such agreement.

Release Call

any premium which may be payable on termination or cesser of an entry (other than a fixed premium entry) in accordance with Rule 15.1.

Ship

a ship or other floating structure entered in the Association (other than a mobile offshore unit entered in accordance with Part III of these Rules).

Supplementary Call

further premium payable for a Policy Year in respect of an entry (other than a fixed premium entry), in addition to the Estimated Total Call but excluding any Overspill Call.

Headings and notes are for reference only, and shall not affect the construction of these Rules.

Any reference to a charterer shall be deemed (unless otherwise expressly indicated) to be a reference to a charterer other than a bareboat or demise charterer.

Any reference to a person shall be deemed to include a reference to an individual or a body corporate or unincorporate, as the context requires.

A person shall be deemed to be the manager or the operator of a Ship for the purposes of these Rules if the Association in its discretion shall so determine.

Where any matter requires the agreement, approval or consent of the Association, agreement, approval or consent shall only be deemed given if in writing.