Termination of contract


Meaning of the word: Termination of contract

Termination of contract is a process, when void a contract between the insurer and the policyholder. For example, the contract may disappear spontaneously at the expiry of the insurance period, however, it can also disappear for violation of the conditions of one of cooperated partners.

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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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