Freight, Chartered or Anticipated/Time Charter Hire/Passage Money-Time/Voyage : The earnings of a vessel described as freight for time can be insured up to 25% of the hull value provided no additional Insurances on disbursements are placed. The Policy is subject to Institute Time Clauses – Freight, 1.10.1983, provides an indemnity for loss of freight but not exceeding the gross freight lost. Any claim consequent on loss of time, whether arising from a peril of the seas or otherwise is expressly excluded. Further, the underwriters does not cover partial loss of freight, other than GA loss, under 3% unless caused by fire, sinking, stranding or collision with another vessel. In the event of total loss (actual or constructive) of the vessel, the freight is paid in full, whether the vessel be fully or partial loaded or in ballast, chartered or unchartered. The contributions of Freight towards GA, salvage charges and Sue and Labour expenses also covered.