Common use of R5 Million Limited Recovery Warranty Clause in Contracts

R5 Million Limited Recovery Warranty. 11.1. In the event of a Loss without recovery for a Vehicle fitted with a Quick Platinum Unit, which includes the SVR services, Cartrack undertakes to pay to the Client a lump sum of the book value of the Vehicle, computed as the average of the trade and retail value of the Vehicle as per the Transunion Auto Dealers Guide as at the month of the theft, limited to a maximum amount of R5 000 000 (five million rand) inclusive of VAT.

R5 Million Limited Recovery Warranty. 11.1. In the event of a Loss without recovery for a Vehicle fitted with a Quick Platinum Fleet Management Plus Unit, which includes the SVR services, Cartrack undertakes to pay to the Client a lump sum of the book value of the Vehicle, computed as the average of the trade and retail value of the Vehicle as per the Transunion Auto Dealers Guide as at the month of the theft, limited to a maximum amount of R5 000 000 (five million rand) inclusive of VAT.