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Definition of Fail
A trade is said to fail if on settlement date either the seller fails to deliver securities in proper form or the
A business that has terminated with a loss to creditors.
The examination of failure incidents to identify components
a quality control cost associated with goods or
Assuris is a not for profit organization that protects Canadian policyholders in the event that their life insurance company should become insolvent. Their role is to protect policyholders by minimizing loss of benefits and ensuring a quick transfer of their policies to a solvent company where their benefits will continue to be honoured. Assuris is funded by the life insurance industry and endorsed by government. If you are a Canadian citizen or resident, and you purchased a product from a member life insurance company in Canada, you are protected by Assuris.
This is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy. In relation to RRSP's, RRIF's, LIF's, Annuities and of course life insurance, if the beneficiary is a spouse, parent, offspring or grand-child, they are considered to be a preferred beneficiary. If the insured has named a preferred beneficiary, the death benefit is invariably protected from creditors. There have been some court challenges of this right of protection but so far they have been unsuccessful. See "Creditor Protection" below. A beneficiary under the age of 18 must be represented by an individual guardian over the age of 18 or a public official who represents minors generally. A policy owner may, in the designation of a beneficiary, appoint someone to act as trustee for a minor. Death benefits are not subject to income taxes. If you make your beneficiary your estate, the death benefit will be included in your assets for probate. Probate filing fees are currently $14 per thousand of estate value in British Columbia and $15 per thousand of estate value in Ontario.
A trade is carried out by the seller delivering securities and the buyer delivering funds in proper form.
The degree of assurance that a specified failure rate is not exceeded.
The difference between the actual costs of production, selling and service and the costs that would be incurred if there were no failures during production or usage of products or services.
failure to make timely payment of interest or principal on a debt security or to otherwise comply
The failure by a debtor to make a principal or interest payment in a timely
failure of a debtor to make timely payments of principal and interest as they become due.
a unit that has been rejected at a control inspection
a process that is part of the project management of a new product; concerned with finding optimal solutions to minimizing product failures
When two or more averages or indices fail to show confirming trends.
A type of mortgage pipeline risk that is generally created when the terms of the loan to be
To take responsibility for payment of a debt or performance of some obligation if the person primarily liable fails to perform.
The risk of loss in foreign exchange trading that one party will deliver foreign exchange but the counterparty financial institution will fail to deliver its end of the contract. It is also referred to as settlement risk.
A bond on which the payment of interest is contingent on sufficient earnings. These bonds are
This clause in regular life insurance policy provides for voiding the contract of insurance for up to two years from the date of issue of the coverage if the life insured has failed to disclose important information or if there has been a misrepresentation of a material fact which would have prevented the coverage from being issued in the first place. After the end of two years from issue, a misrepresentation of smoking habits or age can still void or change the policy.
This refers to the termination of an insurance policy due to the owner of the policy failing to pay the premium within the grace period [Usually within 30 days after the last regular premium was required and not paid]. It is possible to re-instate the coverage with the same premium and benefits intact but the life insured will have to qualify for this coverage all over again and bring up to date all unpaid premiums.
Termination when a policy has no cash value after all attempts at conservation have failed.
Policies which are sold but do not remain in force because the policyholder fails to pay premiums.
A legal document whereby an individual takes responsibility for payment of debt or performance of some obligation if the person/company primarily liable fails to perform.
Price level established as being significant by market's failure to penetrate or as being significant when
Restructuring of financial claims on failing firm to allow it to keep operating.
A section of an annual report where one can find jargon-free discussions by
a unit that is rejected at a control inspection
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