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.
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Due Date

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

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

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