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Insurance

Surety bond

In the world of finance, there exists a concept known as a surety bond. This is a legally binding agreement between three parties - the surety company, the owner or creditor, and the third party. The purpose of this bond is to ensure that the third party's obligations are fulfilled. This is especially relevant for contractors working on public projects, as they are often required to obtain a surety bond. In the event that the contractor fails to fulfill their duties, the surety company steps in and is held responsible for either completing the work or compensating for any losses up to the bond's penalty amount.

Title insurance

Title insurance is a form of protection that safeguards a property owner in the event that their legitimate ownership of real estate is called into question due to flaws in ...

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After Tax Rupees

Discretionary income, as defined by the Income Tax Act, is the remaining income a policy holder has after taxes have been paid for a specific financial year. It is the amoun...

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Quota share treaties

In the world of insurance, there exists a practice known as reinsurance. This involves multiple insurers coming together to share the risk and responsibility of covering a...

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Increasing term

In finance, there exists a type of life insurance called "term life insurance" that may be of interest to you. This particular policy has a unique feature where the face amo...

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