Each and Every First Loss
A type of first loss or excess to be deducted from each claim payment and to be kept for the account of the Insured.
Relates to German law concerning retention of title. It is different to UK rules in that when the creditor registers their claim in the insolvent estate they will only be entitled to potential dividends shared with other creditors. Not registering in time precludes any benefit and cannot be amended later.
Extension of Due Date (Due Date Extension, Deferral of Payment)
Granting of a credit term longer than agreed upon in the original sales contract.
Extension Period (Maximum Extension Period)
The theoretical period allowed by the Insurer, after the original invoice due date, for the policyholder to collect the credit debt before further action has to be taken under the policy.
An addendum or enhancement to the policy conditions.
Total amount underwritten by the Insurer as cover on a buyer, a country or under a policy or all policies.