Schedules Now Reflecting Retail Value
Schedules now reflect the words “Retail Value” instead of the Rand amount.
This has been done to avoid the problems being experienced at claims stage in the event of a total loss and the client expects settlement to be made on the Rand amount shown on the schedule. Our wording states that settlement is based on “retail value” at the date of the loss. The Retail Value is still advised to us by yourselves according to Mead & McGrouther and not determined by Cross Country.
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