Contract price clause

In respect only of goods sold but not delivery for which the insured is responsible and with regard to which under the condition of sale the sale contract is by reason of loss or damage by any peril insured against cancelled either wholly or to the extent of the loss or damage, liability of the company shall be based on the contract price of the goods lost or damage and for the purpose of average the value of all goods to which this clause would in the event of loss or damage be applicable shall be ascertained on the same basis.
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