Clause whereby if damage to undelivered goods leads to cancellation of the contract, the insurer will settle on the contract price rather than production costs. The profit element, otherwise irretrievably lost, becomes a part of the indemnity.
The Rantings of the barely human.
Clause whereby if damage to undelivered goods leads to cancellation of the contract, the insurer will settle on the contract price rather than production costs. The profit element, otherwise irretrievably lost, becomes a part of the indemnity.