Basis of Settlement definition

Basis of Settlement means the method by which a claim is met. This will be either Reinstatement or Replacement or Indemnity according to the method specified in the Schedule in those Sections where a choice is available, or otherwise as stated in the appropriate Section.
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Basis of Settlement means the method by which a claim is met. This will be either Reinstatement and Replacement or Indemnity according to the method specified in the Schedule, or otherwise as stated in the appropriate Section.
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Basis of Settlement means the method by which a claim is met. This will be either Reinstatement or
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Examples of Basis of Settlement in a sentence

  • Where for any reason a payment cannot be made in accordance with 9.1 and 9.2 above our liability will be arrived at as if the Basis of Settlement had not been incorporated and will be subject to the terms and conditions of the policy wording including condition of Average (see General Condition 6).

  • Basis of Settlement: Indemnity’ will apply in the following circumstances, regardless of any basis of settlement shown in the schedule to the contrary: 1.

  • We agree under this coverage that Condition 10, Basis of Settlement is amended to include the following: Solely with respect to livestock the Basis of Settlement and/or Limit of Liability clause of the livestock coverage of the policy to which this Endorsement is attached shall apply.

  • We agree under this coverage that Condition 14, Basis of Settlement is amended to include the following: Solely with respect to livestock the Basis of Settlement and/or Limit of Liability clause of the livestock coverage of the policy to which this Endorsement is attached shall apply.

  • Regardless of any Basis of Settlement shown in the schedule, we will only ever pay you the indemnity value of the redundant plant and/or spare parts.

  • We agree under this coverage that Condition 15, Basis of Settlement is amended to include the following: Solely with respect to livestock the Basis of Settlement and/or Limit of Liability clause of the livestock coverage of the policy to which this Endorsement is attached shall apply.

  • This clause does not apply if the Basis of Settlement against the relevant property is designated in the Schedule as Indemnity Value.

  • The Insurers will indemnify the Insured in accordance with the Basis of Settlement, against Damage to the Insured Property other than from a cause specifically excluded, occurring at the Project Site or in transit within the Territorial Limits during the Construction Period.

  • In the event of Damage to Insured Property the amount payable shall be in accordance with the Basis of Settlement stated in the Schedule in respect of the property designated therein.

  • We agree under this coverage that Condition Basis of Settlement is amended to include the following: Solely with respect to livestock the Basis of Settlement and/or Limit of Liability clause of the livestock coverage of the policy to which this Endorsement is attached shall apply.


More Definitions of Basis of Settlement

Basis of Settlement means the method by which a claim is met. This will be either Reinstatement or Replacement or Indemnity according to the method You have selected and as specified in the Schedule in
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Basis of Settlement means the method by which a claim is met by Us. This will be either reinstatement, replacement or repair of the Damaged covered property, or indemnifying or paying You according
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Related to Basis of Settlement

  • ASX Settlement means ASX Settlement Pty Ltd (ABN 49 008 504 532);

  • Notice of Settlement means the form attached hereto as Exhibit A.

  • PJM Settlement or “PJM Settlement, Inc.” shall mean PJM Settlement, Inc. (or its successor), established by PJM as set forth in Section 3.3 of the Operating Agreement.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • Final Settlement means permanent settlement of the Contractor’s actual allowable costs or expenditures as determined at the time of audit, which shall be completed within three years of the date the year-end cost settlement report was accepted for interim settlement by the State. If the audit is not completed within three years, the interim settlement shall be considered as the final settlement.