承揽合同英文

Either Party A or Party B (based on the requirements of the insurance organization, if both Parties shall purchase insurance, then Party A shall do so) shall purchase insurance in full amount from insurance agencies of China, based on the coverage, amount and terms thereof as deemed appropriate for the equipment assets or the Project Assets. Such insurance expenses shall be borne by Party B prior to the completion of the construction of this Project, and shall be included in the Project Investment; and shall be included in the costs and expenses for the operation of this Project after this Project is completed and turned over to Party A for operation. The beneficiary of such insurance shall be the owner of the Project Assets. When this project is under construction, the proceeds from such insurance shall be used to repair or refurbish any damages to the Major Equipment. In addition, any shortage in the proceeds shall be paid by Party B and shall be included in the Project Investment by Party B. After this Project is turned over to Party A for operation, the proceeds from such insurance shall be used to repair or refurbish any damage to the Major Equipment, and any shortage in the proceeds shall be included as Party A's operational costs of this Project.