No return of premium is payable once the risk has attached, unless the underwriters avoids the contract through breach of warranty and there has been no fraud on the part of the insured. However, in a time policy on hull, it is equitable that there should be a return of premium when the risk is reduced by cancellation of part of the insured period or when a vessel is laid up in a port where it is not subject to so many perils. Cancellations for reasons other than sale or transfer are provided for in returns clause, where the return allowed is only in respect of each uncommented month that the policy is cancelled. The presence of cargo on board the vessel or loading or unloading operations shall not debar returns. However, no returns will be allowed for any period while the vessel is being used for storage of cargo or for lightering purposes.