General conditions of insurance

 

Meaning of the word: General conditions of insurance

General conditions of insurance define the contract between the policyholder and the insurer. This is a legal framework that provides all the important terms and conditions which apply to insurance. General terms and conditions are valid for all insurance agreements, their content is embedded in the law on insurance.

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FROM DICTIONARY

Interest on arrears

Interest on arrears is charged to the debtor in case that he doesn't pay his loan in time. It is not a classic sanction, but it is the refund money.…

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