62NExclusion of amounts of deposit or progress payment

62N Exclusion of amounts of deposit or progress payment

62N Exclusion of amounts of deposit or progress payment

Despite clauses 62K and 62L, an alternative indemnity contract may contain a provision that excludes the provider from liability for the amount of any part of—

(a) a deposit that exceeds the amount permitted for such a deposit by section 8 of the Act, or

(b) a progress payment that exceeds the amount permitted for such a payment by section 8A of the Act, or

(c) if a deposit has not been paid, the amount of the deposit.

Parts 6B (cll 62A–62ZZC): Ins 2017 (705), Sch 1 [18].