Maximum Liability (Policy Limit, Aggregate Limit, Insurer’s Maximum Liability, Maximum Sum Insured)
The maximum amount that the insurer is liable to pay in respect of all losses during a policy period.
Maximum Credit Terms (Maximum Payment Terms)
The longest credit period approved for a buyer under the policy.
Maximum Pre-Credit Risk Period
The maximum insured period between contract date and shipment of goods or provision of services.
The agreed minimum amount of premium to be paid for a specified period regardless of the volume of declared turnover or outstanding balances.
A type of first loss where the minimum amount of each loss that the insured has to bear for their own account is either a specified amount or a percentage of the insured loss.