Lloyd’s Asia, in conjunction with Lloyd’s, has instructed external counsel to refresh the Model Lloyd’s Asia Terms of Business Agreement (TOBA) following requests from the market. The refreshed TOBA, along with guidance, is attached and is also available on the Lloyd’s Wording Repository, which can be accessed via www.lloydswordings.com.
The model TOBA is purely illustrative and is distributed for the guidance of LMA members, who are free to agree to different conditions or amend as they see fit.
