binder


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Binder

A written document that records the essential provisions of a contract of insurance and temporarily protects the insured until an insurance company has investigated the risks to be covered, or until a formal policy is issued.

A receipt for cash or for a check that is deposited by a prospective buyer with the seller to secure the right to purchase real estate at terms that have been agreed upon by both buyer and seller.

binder

n. a written statement of the key terms of an agreement, in particular insurance policies, so that the insured as well as lenders can be assured there is valid and adequate insurance coverage. (See: insurance)

binder

noun assurance, caution money, collateral, collateral security, deposit, earnest, escrow, expense outlay, gage, guaranty, handsel, indemnity, installment, investment, payment, pledge, receipt, receipt for payment, security, stake, token, token payment
Associated concepts: binder receipt, insurance binder, real essate binder
See also: connection
References in periodicals archive ?
The final unit prices for asphalt concrete, binder paint, primer, graded gravel, dry macadam, blocking layer and double surface treatment, were found by adding profits and overheads (PO) of 28.
Don't buy a binder from Les Love Boat or Les Lesbian.
According to the police, Binder killed Labh in 2012 and buried him in her room after digging a six- foot pit.
They have introduced a new classification of hydraulically bound mixtures and new testing methods; however this has made it necessary to carry out comparative studies, on the basis of which new technical requirements have been laid down in Poland: WT-5:2010 Wytyczne mieszanek zwiqzanych spoiwem hydraulicznym do drog krajowych (Guidelines for Mixtures Treated with Hydraulic Binder for National Roads).
From repainting wood shingles on older homes to priming and painting fiber cement siding on newer homes, few binder chemistries match the exterior durability properties offered by 100% acrylics; however, the critical performance properties required for these substrates vary considerably.
Ambiguity regarding the authority granted by the carrier to issue a binder leading to coverage and E&O disputes, including a claim by the insurer against the agent.
Polish experience in binder selection and HMA mix design process changed drastically over last 20 years' time period.
The function of the breast binder is to relieve tension on postoperative wounds after mastectomy.
Szender, a third-year resident in the department of obstetrics and gynecology at the University of Texas, and his associates at the Brooke Army Medical Center, both in San Antonio, enrolled 75 patients in a randomized trial to determine the impact of a neoprene abdominopelvic binder on postoperative morphine use, pain, and ambulation in the first 24 hours after abdominal gynecologic surgery.
Use of a softer virgin binder grade (PG58-28) typically reduced the stiffness of the mixes.