SALVAGE GOODS CLAUSE

In case of damage determined to be a total loss by the Assured together with  the Underwriter’s appointed surveyor, Underwriters are to pay a total loss on any and all goods damage by perils insured against which the Assured elect to either destroy or return to their factory or recondition , Underwriters being entitled to such selvage as may be obtained. However, if the Assured does not elect to either destroy return to their factory or recondition such damage goods, the Assured shall allow the Underwriters any salvage obtained on any sale or other disposition of such goods after the removal of brand names or trademarks.