Branded Stock

BRANDED STOCK #

In the event of a claim for loss or destruction of or damage to the property insured by this policy, it is understood and agreed that any salvage of branded goods and/or merchandise, the insured’s own or held in the insured in trust or on commission and/or goods sold but not delivered shall not be disposed of by sale without the prior consent of the insured.

It is further understood and agreed that if such salvage is not disposed of by sale then the loss, destruction or damage will be assessed at the normal selling price less salvage value to the insured.