Category: N

Also referred to as defect, it occurs when specific requirements are not fulfilled

The majority of policies are non assignable and as such cannot be transferred to a third party ownership

Costs that occur when product quality is not up to standard. It also results due to production imperfections and includes both internal and external costs.

An offense that has led to the rejection of bail for the accused.

The ineligibility to sell this particular type of mortgage due to a failure to meet specific standards or requirements. These requirements are usually in the form of a credit check, collateral, maximum loan amount and other such factors.

An insurer lacking the proper license to set up or do business in a certain location or country.

The vacation between term and term, formerly called the time or days of the king’s peace.

The non credited reinsurance on the ceding company’s annual statemenet due to the reinsurer lacking the proper license to conduct business in a certain location.

Cost that cannot be assigned to any task or function due to the lack of sufficient data for its assignment. As such, it assigned on an arbitary basis.

A ninlh part of movables which was paid to the clergy on the death of persons in their parish, and claimed on pretense of being dis tributed to pious uses. Blount.