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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Dynasty Trust
Long-term trusts made to pass wealth from one generation to another without paying transfer taxes including estate and gift taxes. The trust can su ...
C&I
Loan made to a business or company, not to an individual, which provides either working capital or finances key capital expenditures. Usually short ...
Hypermarket
Hypermarket is a combination of a department store and a grocery supermarket. A hypermarket offers various products like clothing, groceries, and a ...
Assets Under Management
The asset's market value which an investment company handles on behalf of investors. Assets Under Management (AUM) is perceived as a scale of s ...
Business Income Coverage Form
Insurance policy which covers a loss of income a firm incurs due to a slowdown or temporary suspension of its operations because if damage to its p ...
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