Duty to notify

Obligation of the insured to notify the insurer of changes of insurable turnover as indicated on the applications form for the policy, adverse information or overdue accounts.
Read More

Due Date

Date by which the buyer must pay their debt according to the sales contract or invoice.
Read More

Deposit premium

(Installments of) premium paid in advance, to be adjusted on receipt of the declaration of turnover or outstanding balances.
Read More

Delivery

Making the goods available to the buyer or any person acting on their behalf at the place and on the terms specified in the sales contract.
Read More

Default (Payment default)

The failure of the buyer to meet their contractual (payment) obligations. A default is an event that can lead to a loss for the credit insurer, such as bankruptcy, Chapter 11 (or any other failure to pay of the buyer) which is covered under the insured’s policy.
Read More

Deductible

The amount of loss that must be absorbed by the insured before indemnification under the policy.
Read More