ABANDONMENT AND SALVAGE
This is an expression that denotes a second party’s forfeiture of his or her rights and claims on a certain property. The Abandonment and Salvage is usually added as a clause in any insurance contract because it gives ability to the insurance company to take the abandoned property. But, it is important that the second party expressed his or her intent of entering the abandonment and salvage clause. Although sometimes, the financial profit of the salvaged rights are commonly contested legally by several other parties.
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Certificate of Origin - CO
Document declaring the country where a commodity or good was produced. It contains information on the product’s destination and country of ex ...
SEC Form N-8A
SEC Form N-8A is also referred to as the Notification of Registration Filed Pursuant to Section 8(a) of the Investment Company Act of 1940. This me ...
Credit Event
Sudden and tangible change in a borrower’s credit standing or drop in credit rating. Such event questions the borrower’s capacity to pa ...
Alternative Dispute Resolution
The count of disparate processes by insurance companies in resolving claims and disputes. ADR is used to avoid expensive and consuming litigation a ...
HNL
The abbreviation for the currency of Honduras, Honduran Lempira.
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