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Popular Real Estate Glossary Terms
Statement made by agent or broker in written form attesting to the insured that the insurance policy is in effect. This statement is prepared by the agent or broker, unlike the binder, ...
Same as term Expiration: termination date of coverage as indicated on the insurance policy. ...
Fidelity bond that covers a business if employees in listed positions commit dishonest acts, such as stealing money. ...
Equals the tax divided by taxable income. Foe example, if the tax is $30,000 on taxable income of $120,000 the effective tax rate if the business is 25% ($30,000/$120,000) ...
The pro rata clause in an insurance policy stipulates ways in which coverage is distributed. Because of pro rata clauses, there are instances in the insurance world where one policyholder ...