Free Alongside Ship (fas)
Definition of "Free alongside ship (fas)"
Term meaning that an exporter of goods that are damaged or destroyed during international shipment relinquishes responsibility for the damage or destruction once the goods leave the point of origination.
Popular Insurance Terms
Value of a foregone opportunity, one rejected in favor of a presumably better opportunity. For example, investment of a sum into a mutual fund instead of a variable annuity with a ...
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Means of setting life insurance reserves based on expected mortality rates as reflected in a mortality table. ...
Addition to a workers compensation insurance policy to cover payments to injured employees who are not covered by a state's workers compensation law. This endorsement provides employees who ...
Change in the nature of an employer or other organization that sponsors a qualified pension plan. A qualified plan must guarantee vested benefits due to participants in the event of a ...
Risk that premiums and reinsurance, as well as other receivable instruments, will not be collected. ...
Employee's right to transfer pension benefit credits from a former employer to a current employer. ...
Automatic right of an insured to renew a policy until a given date or age except under stated conditions. It is extremely important for the purchaser to review the conditions for renewal in ...
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