Category: P

An authorization that must be taken from the insurer before treatment can be gven. The physicican of the insured party has to give in an estimate of the costs, as well as

Loans that are provided to exporting companies, after the lenders carefully check and ensure that orders have been placed for the goods, hence ensuring that they will get returns for their loans.

A requirement that states that any person who wishes to apply for an insurance license must complete an educational degree or course.

A receipt given out to a policy holder, by the insurer or an agent on behalf of the insurer, which provides confirmation that payment has been received.

Usage of real estate or personal possessions in order to get creative financing by putting up the possessions as collateral is known as a package mortgage.

The amount that is paid to the health care providers is known as a paid claim. Usually, a health plan is required.

A set of different banks which make contributions to the EURIBOR, which constitutes the largest parties that contribute to the European Money market, regardless of the fact that most of the banks

A significant alteration of an individual’s, or a society’s view of how things behave in this world. For instance, a paradigm shift occurred when it was found that the sun is the

Regarded as one of the seven different tools used for primary quality control purposes, the Pareto chart is basically a bar graph that depicts different variances by the number of times that

Completion of an act that forms a portion of a contract. A generally accepted rule suggests that partial performance can be accepted, though the contract is not considered completed until full performance

A contract that becomes enforcable without the signing of any party. For instance, a contract to uphold the copyrights of a book are set in place as soon as the customer buys

The time period in which a person was employed and has provided his services, usually before his pension plan became active. Might result in the exclusion of employee benefits that were with

A decision that was given by the Supreme Court back in 1869, which excluded insurance from regulation by the federal government, since it was was not classified as commerce. However, the ruling

A ratio written as weeks of inventory purchases that are unpaid. Dependent upon the terms of credit provided by the suppliers, as well as the payment policies that have been set up

Payment usually made once the bill of exchange has matured, or after it. Usually done in good faith.

The unit of volume used traditionally for dry commodities. One peck is equal to 2 gallons.

The amount which can be added to the funds of an individual, as well as the contributions regularly made by the Registered Pension Plan.

The percentage volume of any substance in liquid or solid state, and by how much it would evaporate at the standard, ambient temperature. For instance, gasoline is regarded as being 100 percent

Performing any contract within the time frame provided and completing all the requirements, meeting the specifications of the customer precisely.

Various different activities that are carried out to ensure the smooth operation of a machine, equipment, system or plant. Usually carried out on a regular, preset schedule.