A revised version of the Institute Time Clauses (Hulls) was issued on 1 November 1995. ITC hull clauses work on a named perils basis and each clause has its own name, e.g. Perils Clause. Cover for war and strikes for hull insurance can be obtained under the Institute War and Strikes Clauses (Hulls-Time). As the cover is intended for an annual contract, war and strikes cover can be cancelled at short notice (seven days) or even automatically. The International Hull Clauses 1/11/02 are the latest revision, but the 1995 version is still used as underwriters choose from the alternative versions case by case.