binder

binder definition - business

binder

An agreement for temporary insurance coverage until a formal policy can be issued. A binder is frequently issued by an insurance company or its agent when a client purchases a new vehicle.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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