Section 88: Implied obligations varied by agreement or usage

(1) Where any right, duty, or liability would arise under a contract of marine insurance by implication of law, it may be negatived or varied by express agreement, or by or usage, if the usage is such as to bind both parties to the usage contract.
(2) The provisions of this section shall extend to any right, duty, or liability declared by this Act which may be lawfully modified by agreement.