Non-line Positions Sample Clauses
The Non-line Positions clause defines how positions or exposures that do not fall under traditional insurance or reinsurance lines are treated within an agreement. Typically, this clause clarifies the handling of financial instruments, derivatives, or other non-standard risk positions that may be held by a party, specifying whether and how these are included in calculations such as netting, collateral, or risk assessment. Its core practical function is to ensure that all relevant exposures are properly accounted for, thereby preventing disputes and ensuring clarity regarding the scope of covered positions.
Non-line Positions. A. In those instances where a candidate in the pool is passed over (a candidate lower on the eligible list is selected to fill a vacancy) for a non- line position where there is no performance issue involved, the passed- over candidate will be offered an opportunity to meet with the decision maker and be informed of the reason for the decision to pass him/her over.
B. In those instances where a candidate in the pool is passed over (a candidate lower on the eligible list is selected to fill a vacancy) for a non- line position where there is a performance issue involved, the passed-over candidate will be afforded an opportunity to meet with the Chief (no designee) within a reasonable amount of time after being notified that he/she has been passed over. This meeting will be held in accordance with Subsection 10.6 A above. In the event the passed-over candidate declines the opportunity to meet with the Chief, the Chief may, upon notice to the candidate and the Association, exempt the candidate from consideration for promotion and the candidate will be removed from the eligible list. Such a candidate may be returned to the eligible list upon successful completion of an action plan for future promotion in accordance with Section 10.8 below.