Short Period Rate definition
Short Period Rate means the rate calculated in accordance with the formula below in respect of the period prior to cancellation of this Policy in respect of which this Policy has been in force.
Examples of Short Period Rate in a sentence
Short Period Rate Table Period of Risk (Not exceeding) Premium to be retained (% of the Annual Rate).
In such event, the Company will refund the difference (if any) between the annual premium paid and the Premium to be Charged in the Short Period Rate Table below for the corresponding policy period which this Policy has been in force but subject to a minimum and nonrefundable premium of HKD500.
Likewise, this Policy may be cancelled at Your request on the sort period rate basis set forth in the Short Period Rate Cancellation Table, found below.