14. Execution and effects of the contract
- The insurance contract is executed by consent, as evidenced through the subscription of the policy or the provisional cover document by the parties hereto. The contracted cover and its modifications or additions shall not take effect until the receipt for the premium has been paid, unless agreed otherwise in the policy schedule.
- In case of delay in meeting these requirements, the obligations of the insurer shall begin as of midnight on the day on which both have been met.