CONTRACT PRICE CLAUSE

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In the event of goods insured by this policy having been sold but not delivered for which the insured is responsible and under the conditions of sales the contract is cancelled by reason of non-delivery of such goods destroyed or damaged by fire or any other perils insured hereby, the liability of the company in respect of such goods shall be based on the contract price.

It is understood and agreed that for the purpose of average the values of the goods insured hereby shall be calculated on the same basis as that on which the loss is assessed.

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