In case of damage to property bearing brands labels and trademarks the sale of which carries in any way a guarantee of the Insured, the salvage value of such damaged property shall be determined after the removal in the customary manner of all brands labels and trade marks which might be taken to indicate that the guarantee of the manufacturer or the Insured attached to said property. However notwithstanding anything to the contrary elsewhere herein, it is understood and agreed that in case of damage to goods insured under this Policy due to peril insured against, the Insured or their representatives are to retain control of all damaged goods. The Insured, however agrees wherever practicable to use recondition or sell such goods, the sale being made after removal of all brands labels or trademarks, with the Insurer being entitled to the proceeds of the sale. Where the use or disposal or sale of damage goods would be in the opinion of the Insured or their representative detrimental to their interest such damage shall be treated as a constructive total loss and the Insured shall destroy the damaged goods in the presence of a representative of the Insurer and the Insured.
Insurance Agents Team who shares all About Insurance, i.e. Health Insurance, Auto Insurance, Insurance Rates, Fire Insurance, Liability Insurance, Property Insurance, Engineering Insurance, Aviation Insurance, Machinery Breakdown Insurance, Fidelity Guarantee, Money Insurance, Marine Cargo Insurance, Project Insurance, Automobile Liability Insurance, Builder's Risks Insurance, Contractors-Erection All Risks Insurance, Loss Prevention, Risks Management, Insurance Claims, etc
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Endorsement 001 Cover for Loss or Damage due to Strike, Riot and Civil Commotion (SRCC) It is agreed and understood that otherwise su...
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Endorsement 001 Cover for Loss or Damage due to Strike, Riot and Civil Commotion (SRCC) It is agreed and understood that otherwise subj...
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Where any contract or agreement entered into with any principal (named in the schedule hereto) and the company will indemnify the Principal ...
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