Facultative Obligatory Treaty,
Facultative Obligatory Treaty:
Facultative Obligatory Treaty definition is: A hybrid between the optional approach and the traditional approach is an agreement on whether or not the primary insurer has the option to assign individual risks. However, the reinsurer must assume a fixed risk.
Literal Meanings of Facultative Obligatory Treaty
Meanings of Facultative:
This happens voluntarily in response to circumstances and not naturally.
Sentences of Facultative
The difference between facultative skin pigmentation and constitutional color is a function of total sun exposure.
Meanings of Obligatory:
Required by law, ethics or other mandatory regulations.
Sentences of Obligatory
It is now mandatory to wear seat belts in cars.
Synonyms of Obligatory
incumbent, prescribed, binding, mandatory, required, enforced, compulsory, statutory, demanded
Meanings of Treaty:
Formal termination of agreements and ratification between countries
Sentences of Treaty
The two presidents signed a ten-year solidarity agreement.
Synonyms of Treaty
protocol, settlement, accord, covenant, entente, contract, bargain, pledge, concordat, deal, compact, pact, agreement, concord, convention