Extension period (Maximum extension period)

The maximum due date extension allowed under a policy.

Granting of a credit term longer than originally agreed upon in the sales contract.

The total amount underwritten by the insurer as cover on a buyer, a country or under a policy or all policies.

Insurance against the credit risk related to the sale of goods to buyers in another country.

Fluctuation in the buyer’s currency against another currency, which may affect the buyer’s financial ability to pay its obligations.

Insurance, cover or indemnification in excess of an amount of first loss to be borne by the insured.

An addendum or enhancement to the policy conditions.

The date on which the policy comes into force.

The amount to be deducted from each claim payment to be kept for the account of the insured.

Extension of due date (Due date extension, Deferral of payment)