Seller warrants that the goods sold hereunder are new and free from substantive defects in workmanship and materials, and that the goods supplied shall be of fair average quality in the trade and within the description of the contract. If the goods do not and cannot be made to conform to the warranty, seller shall either furnish substitute goods with the same warranty or, at the sole option of seller, all payments made or security given on the purchase price shall be refunded to Customer. The exercise of either of the options stated above shall constitute a settlement in full of all claims of Customer for damages, and shall operate as a release of all claims for damages of both Customer and seller arising out of this agreement. No other warranty, express or implied, is made by Seller, and none shall be imputed or presumed.
- Fictional television programs that some television scholars and broadcasting advocacy groups argue are “quality television”, include series such as Twin Peaks and The Sopranos.
- Perhaps due to the quiz show scandals in the 1950s, networks shifted to the magazine concept, introducing advertising breaks with other advertisers.
- In many countries, including the United States, television campaign advertisements are considered indispensable for a political campaign.
- These companies often have special expertise that the insurance companies do not have.
- Television signals were initially distributed only as terrestrial television using high-powered radio-frequency television transmitters to broadcast the signal to individual television receivers.
A broker generally holds contracts with many insurers, thereby allowing the broker to “shop” the market for the best rates and coverage possible. Insurance companies are rated by various agencies such as AM Best. The ratings include the company’s financial strength, which measures its ability to pay claims. It also rates financial instruments issued by the insurance company, such as bonds, notes, and securitization products. Policyholders may hire their own public adjusters to negotiate settlements with the insurance company on their behalf.
Appendix 6- 3 Illustrative examples for recognition of dilution risk when applying the SEC-IRBA to securitization exposures
Gap insurance is typically offered by a finance company when the vehicle owner purchases their vehicle, but many auto insurance companies offer this coverage to consumers as well. When insured parties experience a loss for a specified peril, the coverage entitles the policyholder to make a claim against the insurer for the covered amount of loss as specified by the policy. The fee paid by the insured to the insurer for assuming the risk is called the premium. Insurance premiums from many insureds are used to fund accounts reserved for later payment of claims – in theory for a relatively few claimants – and for overhead costs. So long as an insurer maintains adequate funds set aside for anticipated losses (called reserves), the remaining margin is an insurer’s profit.
CES makes no representations regarding the amount of time that any Content or User Content will be preserved. CES does not endorse, verify, evaluate or guarantee any information provided by users and nothing shall be considered as an endorsement, verification or guarantee of any User Content. You acknowledge and agree that any use or reliance on any User Content will be at your own risk and you are solely responsible for any such use or reliance. You shall not create or distribute information, including but not limited to advertisements, press releases or other marketing materials, or include links to any sites which contain or suggest an endorsement by CES without the prior review and written approval of CES.
For corporate exposures, the applicable maximum concentration threshold can be increased to 3% if the securitization transaction benefits from a loss-absorbing credit enhancement, as defined in paragraph 94, which covers at least the first 10% of losses. Subordinated tranche(s) retained for the purposes of a loss absorbing credit enhancement by the sellers or sponsor shall not be eligible for the STC capital treatment. This requirement should not affect jurisdictions whose legal frameworks provide for a true sale with the same effects as described above, but by means other than a transfer of the credit claims or receivables. The requirement should not affect jurisdictions whose legal frameworks provide for a true sale with the same effects as described above, but by means other than a transfer of the credit claims or receivables. The holder of Tranche A (senior note) will take all default losses not covered by the purchase discount and all dilution losses not covered by the purchase discount or the second-loss guarantee.
For example, vehicle insurance would typically cover both the property risk (theft or damage to the vehicle) and the liability risk (legal claims arising from an accident). A home insurance policy in the United States typically includes coverage for damage to the home and the owner’s belongings, certain legal claims against the owner, and even a small amount of coverage for medical expenses of guests who are injured on the owner’s property. This creates a mismatch between the reported assets and net incomes of companies that have grown without purchasing other companies, and those that have.
In the United States, after considerable research, the National Television Systems Committee approved an all-electronic system developed by RCA, which encoded the color information separately from the brightness information and greatly reduced the resolution of the color information to conserve bandwidth. As black-and-white televisions could receive the same transmission and display it in black-and-white, the color system adopted is [backwards] “compatible”. The higher resolution black-and-white and lower resolution color images combine in the brain to produce a seemingly high-resolution color image.
Credit insurance repays some or all of a loan when the borrower is insolvent. Methods for transferring or distributing risk were practiced by Babylonian, Chinese and Indian traders as long ago as the 3rd and 2nd millennia BC, respectively. Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel capsizing. When the business is threatened with insolvency, investors will deduct the goodwill from any calculation of residual equity because it has no resale value.
Agents generally cannot offer as broad a range of selection compared to an insurance broker. Insurance is just a risk transfer mechanism wherein the financial burden which may arise due to some fortuitous event is transferred to a bigger entity (i.e., an insurance company) by way of paying premiums. This only reduces the financial burden and not the actual chances of happening of an event. Insurance is a risk for both the insurance company and the insured. The insurance company understands the risk involved and will perform a risk assessment when writing the policy. Reinsurance companies are insurance companies that provide policies to other insurance companies, allowing them to reduce their risks and protect themselves from substantial losses. The reinsurance market is dominated by a few large companies with huge reserves.
The transition is expected to be completed worldwide by mid to late 2010s. In 1972, sales of color sets finally surpassed sales of black-and-white sets. Color broadcasting in Europe was not standardized on the PAL format until the 1960s, and broadcasts did not start until 1967. By this point many of the technical issues in the early sets had been worked out, and the spread of color sets in Europe was fairly rapid. By the mid-1970s, the a small business owner’s guide to double only stations broadcasting in black-and-white were a few high-numbered UHF stations in small markets, and a handful of low-power repeater stations in even smaller markets such as vacation spots. By 1979, even the last of these had converted to color and, by the early 1980s, B&W sets had been pushed into niche markets, notably low-power uses, small portable sets, or for use as video monitor screens in lower-cost consumer equipment.
The term “appropriately mitigated” should be understood as not necessarily requiring a completely perfect hedge and should not be seen from an accounting perspective. There is no obligation for the seller to perform this assessment itself. For the avoidance of doubt, any type of securitization should be allowed to fulfil the requirements of Criterion B5 once it meets its prescribed standards of disclosure and legal review. This “additional consideration” may form part of investors’ due diligence process, but does not form part of the criteria when determining whether a securitization can be considered STC.
In this manner the community can even out the extreme differences in insurability that exist among its members. Some further justification is also provided by invoking the moral hazard of explicit insurance contracts. In order to calculate goodwill, the fair market value of identifiable assets and liabilities of the company acquired is deducted from the purchase price. For instance, if company A acquired 100% of company B, but paid more than the net market value of company B, a goodwill occurs. In order to calculate goodwill, it is necessary to have a list of all of company B’s assets and liabilities at fair market value.
A number of independent rating agencies provide information and rate the financial viability of insurance companies. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured, or their designated beneficiary or assignee. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster.
CES will pay the freight for products you return if the total return value is more than $40; provided, the return must be approved with a RA and meet all other conditions of CES’s return policy. Regardless of the total value, you will be responsible for paying the return shipping for any returnable products that have a packaged length of over 4 feet (for example, pipe products). Except as otherwise described below, if you are not satisfied for any reason, products may be returned within 30 days of shipment for a full credit or exchange (if the product is undamaged, unopened, unused, unaltered, and untampered). When you make your return, you’ll need to note credit or exchange. Returned items must be in the original packaging and receive prior Return Authorization (“RA”) from CES.
In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance. For example, a privately held software company may have net assets (consisting primarily of miscellaneous equipment and/or property, and assuming no debt) valued at $1 million, but the company’s overall value (including customers and intellectual capital) is valued at $10 million. Anybody buying that company would book $10 million in total assets acquired, comprising $1 million physical assets and $9 million in other intangible assets. And any consideration paid in excess of $10 million shall be considered as goodwill. In a private company, goodwill has no predetermined value prior to the acquisition; its magnitude depends on the two other variables by definition.
2.A Asset risk
A publicly traded company, by contrast, is subject to a constant process of market valuation, so goodwill will always be apparent. The Terms set forth in Section I apply to all purchases from Seller (as defined herein). All references to “Customer” shall include all parents(s), subsidiaries and affiliates of the entity purchasing goods from Seller. Seller and Customer may be referred to individually as a “Party” and collectively as “Parties”. This document constitutes a sales agreement respecting goods which Customer buys from Seller and a credit agreement respecting all extensions of credit by Seller to Customer.