A qualifying ledger balance sum below which buyers are not included in the insurance policy until this value is breached. Some underwriters refer to it as a Flex policy.
Declaration of Turnover (Shipment Report, Insured Transactions Report)
An insurance process where the insured sales to the buyers (customers) of the policyholder are revealed, normally on a dedicated form, to the Insurer to determine the final policy premium for the relevant policy year.
Deductable (Also known as First Loss or Excess)
The amount of loss that must be absorbed by the insured for their own account before indemnification under the policy. This is an insurance principle where the loss is therefore shared and retained as an interest for by both parties .
Deferred Consideration Bond
Allows you to import goods and delay payment of the duty for an extended period, to relieve pressure on your cash flow.
(Instalments of) premium paid in advance, to be adjusted on receipt of the declaration of turnover or outstanding balances.
Discretionary Limit (DL, Discretionary Credit Limit, DCL, Non-Vetting Limit)
The amount up to which, according to given guidelines, the insured may set a credit limit without specific review by the insurer.