Turnover
Turnover is the total income received by a business in a certain period. It's sometimes referred to as ‘gross revenue’ or ‘income’. It is not your business’s profit, which is a measure of earnings after all costs have been paid such as tax, wages and other expenses.
a) Where the Insured has undertaken External Wall Fire Reviews (EWS1 surveys), in the course of its commercial operations, for a period of more than twelve (12) calendar months immediately prior to the Instruction Date, Turnover shall mean the money paid or payable to or earned by the Insured in relation to the undertaking of External Wall Fire Reviews (EWS1 surveys), in the course of its commercial operations, during the twelve (12) calendar months immediately prior to the Instruction Date
b) Where the insured has not undertaken External Wall Fire Reviews (EWS1 surveys), in the course of its commercial operations, for a period of more than twelve (12) calendar months immediately prior to the Instruction Date, Turnover shall mean the estimated total amount of money expected to be paid or payable to or earned by the Insured in relation to the undertaking of External Wall Fire Reviews (EWS1 surveys), in the course of its commercial operations, during the twelve (12) calendar months immediately following the Insured's instruction to undertake the first External Wall Fire Review (EWS1 survey)