1. A receipt given by a policyholder to acknowledge a loss payment and that he has no further claim on the insurer in respect of that loss. In third party claims, the insurer pays the claimant and obtains an acknowledgement to absolve the insured from all future liability relating to the cause of action concerned. 2. Unloading cargo from a vessel.
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A form of receipt given by a claimant, acknowledging that- he has no further claim in respect of the happening or accident concerned.