Policy Currency definition

Policy Currency means the currency specified in the Schedule.

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Policy Currency means the currency in which the Policy is denominated as specified in the Policy Schedule.

Policy Currency means the currency identified in Item 11 of the Schedule. The Policy Currency is the currency of the Insured’s premium payments and any Compensation payable by the Underwriter to the Insured.

Examples of Policy Currency in a sentence

• The Permitted Credit Limits under the Policy, any other limits or deductibles, premiums, Limit Management Charges and any Other Charges are expressed in the Policy Currency, and such amounts will not vary according to changes in the exchange rate between the Policy Currency and any other currency, unless the Insurer has expressly given its prior written consent.

• The Insurer’s share of any such Recoveries accruing after payment of a claim must be paid to the Insurer in the Policy Currency.

• For any Recoveries received in a currency other than Policy Currency, the rate of exchange shall be the rate as offered by the Insurer’s London clearing bank on the date that cleared funds are received into the account of the Insured, or of the Insurer where paid directly to the Insurer.

• Any Collection Costs incurred in currency other than Policy Currency shall be converted into Policy Currency at the rate of exchange offered by the Insurer's London clearing bank on the date when the Insured makes payment of these costs.

• Where the Contract Currency is other than Policy Currency, the rate of exchange shall be the rate as offered by the Insurer's London clearing bank on the Due Date, except in the case of Transfer Loss, where the rate of exchange shall be the rate as offered by the Insurer's London clearing bank on the date of expiry of the Waiting Period.

More Definitions of Policy Currency

Policy Currency means the currency in which all benefits accruing are recorded in this Policy and all payments from the Company must be made under this Policy and is specified as Policy Currency in Policy Schedule 1;

Policy Currency means the lawful currency of the Islamic Republic of Pakistan in which: (i) the Premium is payable; and (ii) Insured Percentage is payable.

Policy Currency means the currency specified as Policy Currency in Policy Schedule 1. “Policy Date” means the date specified as Policy Date in Policy Schedule 1.

Policy Currency means the currency in which the Regular Premium is specified in the Policy Schedule, which will also be the currency in which:

Policy Currency. : means the currency chosen by the Policyholder in the Application form and specified in the Schedule. Premiums are invested into the Policy and encashments are paid out of the Policy in this currency. It is also the currency in which the Unit Price is shown throughout the Policy.

Policy Currency means the currency identified in Item 11 of the Declarations.

Policy Currency means the currency in which all benefits accruing are recorded in this Policy and all payments from the Company must be made under this Policy and is specified as Policy Currency in Policy Schedule 1, unless cancellation of this Policy is made during the applicable cooling-off period and payment will then be made in Payment Currency;