Customer (Buyer, Debtor, Insured, Policyholder)
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- July 9, 2014
- by Aman Union
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“Customer” may refer to both the Buyer and the Insured. See under these terms.
Credit underwriting (Limit underwriting)
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- July 9, 2014
- by Aman Union
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Assessment by the credit insurer of the financial condition of buyers, before setting a credit limit.
Credit term (Credit period, Payment term)
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- July 9, 2014
- by Aman Union
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The period after delivery or shipment of goods or after rendering of services at the expiry of which invoices are due to be paid; The period of time provided by the insured to the buyer for repayment of delivered goods or services.
Credit limit
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- July 9, 2014
- by Aman Union
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The maximum exposure specifically approved or otherwise authorized by the insurer in respect of a buyer.
Credit assessment fee (Credit rating fee)
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- July 9, 2014
- by Aman Union
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Contribution to the costs of credit information gathered for the assessment of the buyer’s risk.
Covered percentage (Insured percentage, Percentage of cover, Guaranteed percentage, Indemnity amount)
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- July 9, 2014
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The percentage of each insured loss that is indemnified by the insurer.
Country rating (Country rank, Country risk classification)
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- July 9, 2014
- by Aman Union
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An indication of creditworthiness of a country.
Country limit
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- July 9, 2014
- by Aman Union
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The maximum exposure specifically approved or otherwise authorized by the insurer in respect of a particular country.
Country cover conditions
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- July 9, 2014
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Terms of coverage imposed by the insurer for their acceptance of cover on (buyers in) a particular country.
Costs for work in progress (Pre-invoicing expenses, Costs incurred but not billed)
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- July 9, 2014
- by Aman Union
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Expenses incurred for uncompleted rendered services or product construction.