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Onsibility to schedule the renewal premium payments in a manner that the company receives the renewal premiums within the due dates as specified in the Policy Contract(s) and that in the event of a late payment I shall be liable for the late payment charges and other consequences as may be enforced by the company G. I hereby agree that the Company may levy penalty charges of Rs 150/- per transaction (or such other amount as specified by Company from time to time), if the payment is not honored.

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