BRANDED GOODS

In the assessment of any claim for branded goods and/or merchandise covered by this Policy, it is hereby expressly declared and agreed that:

Goods damaged or suspected of being damaged by any cause or event not herein excluded (hereinafter referred to as salvaged goods) shall not be disposed of by sale or otherwise without the written consent of the Insured.

Because of the prime quality of the Insured’s products, the Insured can elect to have any salvaged goods destroyed under the supervision and such goods will then be deemed to have no salvage value in the assessment of any claim. Salvaged goods destroyed in such circumstances shall be deemed to have been destroyed by the operation of insured perils.