Insurance Policy — Mallvest Cashew Export Operations

Policy Reference: MV-CASHEW-2026-001  |  Effective: April 2026  |  Version: 2.0

---

1. The Parties

This Policy is entered into between the following parties:

• The Assured: Mallvest (MALL BOX TRADE LTD), a company incorporated in the United Kingdom (Company Registration No. 16789602), with operational headquarters at Sampa, Bono Region, Ghana.
• The Insurance Broker: Howden UK Limited, One Creechurch Place, London, EC3A 5AF, United Kingdom (FCA Register No. 224721).
• The Underwriters: Lloyd's of London syndicates and/or accredited insurers as placed by Howden UK on behalf of the Assured.

This Policy is placed through Howden UK, a Lloyd's of London accredited broker, and underwritten by syndicates at Lloyd's. The Assured acknowledges that coverage is subject to the terms, conditions, and exclusions set forth herein.

---

2. Scope of Coverage

This Policy provides comprehensive insurance coverage for all cashew export operations undertaken by Mallvest, including but not limited to:

2.1 Cargo & Marine Transit Insurance

• Institute Cargo Clauses (A): Full "all risks" cover for cashew shipments during transit by sea, air, rail, or road, from the point of origin in West Africa to the final destination port.
• War & Strike Risks: Coverage for loss or damage caused by war, civil unrest, strikes, riots, and civil commotion, in accordance with Institute War Clauses and Institute Strike Clauses.
• Theft, Pilferage, and Non-Delivery (TPND) Cover: Comprehensive protection against theft, pilferage, and non-delivery of cashew shipments, irrespective of cause.
• General Average & Salvage Charges: Coverage for general average contributions and salvage charges arising from maritime casualties, as defined under the York-Antwerp Rules.
• Warehouse-to-Warehouse Clause: Coverage from the time cashew leaves the seller's warehouse at origin until delivery to the buyer's warehouse at destination, including all intermediate storage and transshipment.

2.2 Trade Credit Insurance

• Buyer Default: Indemnification for losses arising from the insolvency, bankruptcy, or protracted default of international buyers of cashew.
• Political Risk: Coverage for losses arising from currency inconvertibility, transfer restrictions, contract repudiation, and other sovereign risks in the destination country.
• Commercial Risk: Protection against non-payment by buyers due to commercial disputes or refusal to accept goods without valid cause.

2.3 Public & Product Liability

• Third-Party Bodily Injury & Property Damage: Coverage for claims arising from bodily injury or property damage caused by cashew products or export operations.
• Products Liability: Protection against claims arising from alleged defects, contamination, or harm caused by cashew products.

---

3. Policy Wordings & Certificates

This Policy incorporates the following standard insurance clauses and wordings:

• Marine Insurance Act 1906 (UK): The governing law for all maritime insurance aspects of this Policy.
• Institute Cargo Clauses (A) — 01/01/2009: The standard Lloyd's Market Association (LMA) cargo clauses.
• Institute War Clauses — 01/01/2009: Standard war risk clauses for cargo.
• Institute Strike Clauses — 01/01/2009: Standard strike, riot, and civil commotion clauses.
• Lloyd's of London Standard Policy Form (J1/J2): The standard Lloyd's marine policy form.

All certificates of insurance issued under this Policy shall be signed by Howden UK on behalf of the Underwriters and shall contain the standard Lloyd's attestation clause.

---

4. Policy Limits & Deductibles

The Policy is subject to the following financial parameters:

• Cargo Limit: Up to £2,500,000 per shipment or £10,000,000 annual aggregate.
• Trade Credit Limit: Up to £1,500,000 per buyer or £5,000,000 annual aggregate.
• Liability Limit: Up to £2,000,000 per claim or £5,000,000 annual aggregate.
• Deductible (Cargo): £250 per occurrence.
• Deductible (Credit): 5% of claim value, minimum £500.
• Deductible (Liability): £500 per claim.

All limits and deductibles are subject to annual review and adjustment based on portfolio performance and market conditions.

---

5. Territorial Limits

This Policy provides coverage for cashew exports originating from and destined to the following territories:

• Origins: Ghana, Nigeria, Côte d'Ivoire, Benin, Burkina Faso.
• Destinations: United Kingdom, European Union, United States, Canada, Middle East, India, China, and Southeast Asia.
• Transit Routes: All customary sea, air, rail, and road routes as declared by Mallvest.

Coverage is extended to all ports, airports, and inland container depots (ICDs) within the declared territories. Any deviation from declared routes or destinations must be notified to Howden UK in advance for coverage to remain valid.

---

6. Claims Reporting

In the event of loss, damage, or any incident that may give rise to a claim under this Policy, the Assured shall:

• Immediate Notification: Notify Howden UK within 24 hours of becoming aware of the incident, by telephone or email, followed by written notification within 7 days.
• Preservation of Evidence: Take all reasonable steps to preserve evidence, including photographs, shipping documents, and witness statements.
• Surveyor Instruction: Howden UK shall appoint an independent surveyor to assess the loss. The Assured shall cooperate fully with the surveyor's investigation.
• Documentation: Submit a fully documented claim within 30 days, including all relevant shipping documents, invoices, bills of lading, and proof of loss.

---

7. Exclusions

The following exclusions apply to this Policy, in accordance with standard Lloyd's market clauses:

• Nuclear Risks: Loss, damage, or liability arising from nuclear reactions, radiation, or radioactive contamination.
• War & Military Action: Loss arising from war, invasion, act of foreign enemy, or civil war (except as provided under War Clauses).
• Willful Misconduct: Loss caused by willful misconduct or gross negligence of the Assured or its agents.
• Sanctions: Loss arising from trade with countries subject to international sanctions.
• Quality Deficiencies: Loss arising from inherent vice, ordinary leakage, ordinary loss in weight or volume, or normal wear and tear of cashew.
• Delay: Loss arising from delay, loss of market, or consequential loss not directly caused by an insured peril.

---

8. Endorsements & Amendments

This Policy may be amended or endorsed by mutual agreement between Mallvest and Howden UK. All endorsements shall be:

• In Writing: Any amendment must be in writing and signed by both parties.
• Attached to Policy: Endorsements shall be attached to and form part of this Policy.
• Subject to Underwriters' Approval: All amendments are subject to approval by the Underwriters.

No oral or written representation shall alter the terms of this Policy without a formal endorsement signed by Howden UK on behalf of the Underwriters.

---

9. Governing Law & Jurisdiction

This Policy shall be governed by and construed in accordance with:

• Marine Insurance Act 1906 (UK)
• Lloyd's of London Standard Policy Terms
• English Law

Any dispute arising out of or in connection with this Policy shall be subject to the exclusive jurisdiction of the High Court of Justice, London, United Kingdom.

---

10. Contact Information

For all insurance-related inquiries, including claims, endorsements, and policy verification, please contact:

Insurance Broker: Howden UK Limited

Address: One Creechurch Place, London, EC3A 5AF, United Kingdom

FCA Register No.: 224721

Policy Enquiries: support@mallvest.com

24/7 Claims Hotline: +44 7576 044582

---

Mallvest — Insurance Policy for Cashew Export Operations

Version 2.0 | April 2026