the Assured are aware, or in the ordinary course of business should be aware, that such insolvency or financial default could prevent the normal prosecution of the voyage. This exclusion shall not apply where the contract of insurance has been assigned to the party claiming hereunder who had bought or agreed to buy the subject-matter insured in good faith under a binding contract." (Emphasis added.)
The above exclusion had not appeared in earlier editions of the ICC. Therefore, the 1982 edition was the first in which the detention or sale of the insured property arising from insolvency of a third party was taken outside the scope of the all-risks cover.