Assert positively, Ratify the judgment of an interior court, Declare solemnly without taking an oath, that one will give true evidence.
Insurance Encyclopedia
Affirmation
A solemn declaration in the nature of an oath, made by persons who have religious scruples against taking oaths.
Affirmative Warranty
The type of warranty where the insured declares a fact is true at the time given but does not make any statement about the future.
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Warranty that something is true when the application for Insurance is made, although not necessarily that it will remain true.
Affirmed
When an appellate court declares that judgment, decree or order is valid and right and must stand as rendered in the lower court.
Affreightment
See: Contract Of Affreightment.
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A contract to carry merchandise.
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A bill of lading. A contract to transport goods by sea; either a charter party or a bill of lading.
Aforesaid
As previously stated.
AFS
See: alternative financing system (AFS).
After Charge
A charge sometimes included in fire rates for commercial buildings. It is usually added for conditions which can be corrected by the insured such as failure to have the proper types of fire extinguishers.
After the event legal expenses insurance (AEI)
Covers the risk of the unsuccessful litigation. Cover is arranged after the insured becomes aware of the need to litigate. The insurance pays both the party’s own and opponent’s fees and disbursements (e.g. expert reports) if the action is unsuccessful and the insured is ordered to pay them or fails to recover them from his opponent. The insurance is marketed as a conditional fee agreement insurance. Both Sides Insurance, an alternative, is not linked to conditional fees. It pays both sides’ legal fees and disbursements regardless of the outcome of the action. Proposals forms call upon the insured’s legal representative to confirm a minimum 65 per cent chance of success. The successful insured can, at the court’s discretion, recover his AEI premium from the loser.
Aftercare
Individualized patient services required after hospitalization or rehabilitation.