0
What means to exchange a contract for money on behalf of an insurer?
Wiki User
∙ 13y ago
It means to give a contract to a companny on behalf of a insurer and and give them some money
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is specific sized contract?
Trading may be conducted only in preestablished multiples of currency units. This means that a firm wishing to hedge some aspect of its foreign exchange risk is not able to match the contract size with the size of the risk.
What does insurance provision mean?
Insurance provision means the conditionality to be adhered to by both the insured and the insurer,as embedded in an insurance policy bond.
What does Whereas mean in a contract?
The word whereas means in case of a mishappening
What happen if a company was delisting by Toronto Stock Exchange?
When a company is de-listed from the Toronto Stock Exchange it means that they were removed from that stock exchange. This would indicate that they have not followed the rules or have not conducted business in a manner that is fitting with the rules of the Toronto Stock Exchange.
What is dividend-balancing?
dividend balancing means dividend due to foreign partner in foreign exchange have to be matched with foreign exchange earnings i.e income from exports.
What does its mean on a contract signature line?
"Its" means, literally, just that. As in you are "John Smith" signing on behalf of "John & Co" as Its President. The purpose of this is to indicate that you are signing only on behalf of the entity rather than as an individual, therefore protecting you from personal liability.
What is a contract of services?
Like any contract, it is an agreement between two parties. In this case, one party promises to conduct a service, i.e. service a vending machine, in exchange for a promise on behalf of the other party. Contract of services is distinct from other contracts only in that one of the parties will be performing a service. Sometimes this means the assignment of the right to perform that service cannot be legally upheld because personal service is unique to the party that conducts the service.
What is the difference between a contract document and a tender document?
A contract is an agreement between two parties for any means, typically involving some sort of exchange. A tender document is a document that indications the specification of a customer.
What the word biological exchange mean?
What do Biological exchange means? What do Biological exchange means?
What is specific sized contract?
Trading may be conducted only in preestablished multiples of currency units. This means that a firm wishing to hedge some aspect of its foreign exchange risk is not able to match the contract size with the size of the risk.
What are the Characteristics of an insurance contract?
1. Characteristics of insurance contract 1. As a risk distributing device: The device of insurance serves to distribute the risk of economic loss among as many as possible of those who are subject to the same kind of risk. This broad sharing of economic risk is the principle of risk-distribution. 2.Contract of adhesion or fine print rule: Insurance is contract of adhesion considering that most of the terms of the contract do not result from mutual negotiations between the parties as they are prescribed by the insurer in printed form to which the insured may "adhere" if he chooses but he cannot change. Insurance contracts are of this type, because the insurer writes the contract and the insured either 'adheres' to it or is denied coverage. 3. Aleatory: The obligation of the insurer to pay the proceeds of the insurance arises only upon the happening of an event which is uncertain, or which is to occur at an indeterminate time. Insurance contracts are of this type because, depending upon chance or any number of uncertain outcomes, the insured (or his or her beneficiaries) may receive substantially more in claim proceeds than was paid to the insurance company in premium. 4. Contract of indemnity: The contract of insurance is a contract of indemnity. It is the basis of all the property insurance. It means that the insured who has insurable interest over a property is only entitled to recover the amount of actual loss sustained and the burden is upon him to establish the amount of actual loss 5.Uberrimae fides contract: A contract requiring perfect good faith. It requires the parties to the contract of insurance to disclose any material fact, which the applicant knows, or which he ought to know. Misrepresentations and Concealments should be avoided 6. Personal contract: Insurance contracts are usually personal agreements between the insurance company and the insured individual, and are not transferable to another person without the insurer's consent. 7. Principle of subrogation: The term subrogation means stepping into the shoes of others. The doctrine of subrogation refers to the right of the insurer to stand in the place of the insured, after settlement of a claim, in so far as the insured's right of recovery from an alternative source is involved. 8. Executory An executory contract is one in which the covenants of one or more parties to the contract remain partially or completely unfulfilled. Insurance contracts necessarily fall under this strict definition; of course, it's stated in the insurance and agreement that the insurer will only perform its obligation after certain events take place (in other words, losses occur). 9. UnilateralInsurance contracts are unilateral; the insured performs the act of paying the policy premium, and the insurer promises to reimburse the insured for any covered losses that may occur. Once the insured has paid the policy premium, nothing else is required on his or her part; no other promises of performance were made. Only the insurer has covenanted any further action, and only the insurer can be held liable for breach of contract. By Vipin P. Varghese Bharata Mata INstitute of Management Mob: 9946159970
What are auto insurance liability limits?
This term refers to the maximum amount of money that the insurer is obliged to pay on your behalf in the event of a collision. The premium that you pay to the insurer for this protection is a function of many factors, once of which is the liability limits. Liability limits are usually expressed in terms of an amount payable per person, and a larger amount payable per event or occurrence. This means that if an event occurs that is your fault and that is covered by the policy, the insurer may be required to pay a maximum of $X to each person who is injured or harmed. Further, it means that if multiple people were injured or harmed by the same occurrence, the insurer is liable for payment of up to the "per occurrence" limits, but no more. All of this is contingent upon the person insured being legally liable for the occurrence. This generally means that the person must be found to have been negligent.
What does standardized exchange value mean?
to exchange something
What does mean sales agreed?
it means: sale agreed subject to contract - as in the sale of a property where the sale has been verbally agreed and simply awaits the formal signing and exchange of the legal contracts
What is mean by pacta sunt servanda?
pacta sunt sevanda , means in contract law means "the contract has to be respected" whatever the contract agreement is
What is a cessation clause?
In a contract, it means the terms by which the contract can be broken
What does contract mean in muscle?
contract in science means to get smaller.
