Cap. 13 ст. 421Whenlapseoftime gives right to abandonment without necessity of proving loss.

(1) If, upon the expiration of one year from the day of the vessel’s departure, or from the day to which the last news of the vessel relates, in the case of ordinary voyages, or upon the expiration of two years, in the case of long voyages, the assured declares that he has received no news of the vessel, he shall be entitled to abandon, and to claim payment of the sum insured without any necessity of proving the loss of the vessel.

(2) Upon the expiration of the aforesaid times of one year or of two years, the assured shall be allowed, for the purpose of commencing proceedings, the times fixed in article 419.