Section 56 of the Indian Motor Vehicles act provides that if the fitness of the vehicle had expired before the date of accident, the vehicle shall not be deemed to be registered under Section 39 of 1988 Act.
Insurance Encyclopedia
Five freedoms of the air
Allow scheduled international services: The privilege to fly across the territory of another contacting State.The privilege to land for non-traffic purposes.To put down passengers, mail and cargo in the territory of the State whose nationality the aircraft possesses.To take on passengers, mail and cargo destined for the territory of the State nationality of whose the aircraft possesses.To take on passengers, mail and cargo destined for the territory of any other contracting State and to put down passengers, mail and cargo coming from any such territory.F.O.B. (Free on Board) : A shipment term. The seller is responsible for loss or damage to goods until they are placed on board the vessel for onward carriage. Thereafter the buyer becomes responsible and he has therefore the option to insure where he likes.
Five- and six-character subclassification
In the International Classification of Diseases, Tenth Revision, Clinical Modification (ICD-10-CM ), a letter and two digits followed by a period or decimal point and up to three numbers that give more information on the description of a condition.
Fixation
Use of internal and/or external hardware (e.g., pins, rods, plates, wires) to keep a bone in place; also referred to as instrumentation .
Fixed amount option
Settlement option in a life insurance policy wherein the insurance company uses policy proceeds plus interest to pay the beneficiary either annually or semiannually until the proceeds plus interest are all gone. Also called fixed payment option .
Fixed capital assets
Net worth of hospital or other health facilities and other resources.
Fixed commission
Reinsurance commission payable at an unchanging rate with no adjustment for profit or performance on the treaty.
Fixed costs
Expenses that do not change with fluctuations in number of members or use of medical services in a managed care plan.
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UK:REFERENCES: See: STANDING CHARGES.
Fixed debt
An amount deducted from a sum payable on death if death occurs within a specified term. If the life insured survives the policy term the full sum insured is payable. The fixed debt has largely been superseded by the diminishing debt. See DEBT 1.
Fixed objects
Harbours piers, wharves, buoys and similar fixed objects with which a ship may collide. The shipowner’s resultant collision liability is insured by Protection and Indemnity Clubs.
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In Marine Hull Liability insurance a distinction is drawn between “collision” with vessels and contact with “fixed objects” such as piers, wharves and fastened buoys, the latter not being covered by collision clauses.