Terms Beginning With 'l'

Loss Payee

  • January 17, 2020
  • Team Kalkine

The loss payee is a person or a party or an organization that is entitled to receive the claim from a loss. A loss payee can be defined in several ways. For instance, in the insurance sector, the group authorised to do payment or the insured is the loss payee.

This usually happens when a tiny business or company utilizes collateral to obtain a loan.

 

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