What does Sales mean? Read on to discover the definition & meaning of the term Sales - to help you better understand the language used in insurance policies.
Exposure base in commercial general liability (CGL) insurance for insureds in the manufacturing/processing or mercantile business classifications. Gross sales as an exposure base is defined as "the gross amount charged by the named insured, concessionaires of the named insured or by others trading under the insured's name for all goods or products, sold or distributed; operations performed during the policy period; rentals; and dues or fees."
We hope the you have a better understanding of the meaning of Sales.