Minimum Annual Premium definition

Minimum Annual Premium has the meaning set forth in ‎Section 2.06.

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Minimum Annual Premium. ’ shall mean Fixed Amount of Rs. 5,00,000/- (Rupees five lakh only) per annum which is the base amount fixed by MPTB. Bidders are required to quote an amount over and above the said amount in its Bid Price

Minimum Annual Premium. ’ shall mean Fixed Amount of Rs. 5,00,000/- (Rupees five Lakh only) per annum which is the base amount fixed by MPTB for annual license fee for tent city. Bidders are required to quote an amount over and above

Examples of Minimum Annual Premium in a sentence

• The Minimum Annual Premium multiplied by the number of months since the Policy Date, including the current month, divided by 12.

• The Substandard Target Premium is equal to the Minimum Annual Premium (MAP) for substandard ratings up to Table 6 plus permanent and temporary flat extra premiums of more than seven years.

• The earned pre-mium will be computed at the end of each year in which this insurance is in force at the rate described via policy endorsement, subject to any Minimum Annual Premium.

• A Profit Adjustment Amount shall be an amount equal to 10% of [A-B], where “A” equals the Minimum Annual Premium and “B” equals the Gross Premium.

• In the event that the Gross Premium in the first Year of Agreement is greater than the Maximum Annual Premium or less than the Minimum Annual Premium, the parties agree to review the terms of this Agreement.

More Definitions of Minimum Annual Premium

Minimum Annual Premium. ’ shall mean Fixed Amount of Rs. 2,00,000/- (Rupees Two Lacs only) per annum which is the base amount fixed by MPSTDC for annual license fee for tent city. Bidders are required to quote an amount over and above the said amount in its Bid Price in the form of Annual Premium. The Preferred Bidder will have to remit the Annual Premium (hereinafter referred as the “Annual Premium”) for the first year of operation in full within 15 calendar days from the date of receipt of Letter of Award. Further relaxation of due date will not be entertained at any cost.