TURNOVER/OUTPUT CLAUSE

It is agreed that in the event of a claim arising under this section, adjustment may be based on ‘turnover or output’ or whatever other index of business activity affords the most equitable result and except in the definition of turnover the word ‘turnover’ wherever used in this policy shall mean sale value of goods manufactured by, or sold by, the insured in the course of the business at the premises, provided that :

a) only one such meaning shall be operative in connection with any one occurrence involving damage;

b) if the meaning set out in this clause be used, then memo 1 under indemnity period shall be held to be altered to read as follows :

“If during the indemnity period goods shall be manufactured and for processed elsewhere than at the premises affected by the damage for the benefit of the business either by the insured or by others on the insured’s behalf the sale value of the goods so manufactured shall be brought into account in arriving at the output during the indemnity period”.

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