Conditional Sales Floater
Definition
- An insurance floater that protects sellers on purchases made with instalment plans or on a conditional basis. Also known as an "instalment sales floater", a conditional sales floater protects the seller in the event that property is damaged before it has been fully paid off.
Synonyms
instalment sales floater, loss before payment coverage
Related Terms and Acronyms
- Commercial Property Floater — Definition,
- Insurance that provides coverage for property that is not fixed to one single location.
- Conditional Sale (C/S) — Acronym,
- An agreement between the buyer and seller in where certain conditions must be met before the property sale can be finalized.
- Consignment Insurance — Definition,
- Insurance for assets on loan, consignment, in transfer of ownership, or up for auction.
- Coverage — Definition,
- The type or amount of protection afforded by an insurance policy.
- Floater Insurance — Definition,
- Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
- Insurance (insur) — Abbreviation,
- An arrangement where one party provides financial protection to another party for specific damages or losses.
