Manufacturers Penalty Insurance,
What Does Manufacturers Penalty Insurance Mean?
Manufacturers Penalty Insurance refers to Coverage in case of delay in delivery of the product for the amount agreed in the agreement between the insurance producer and the buyer. Designed for manufacturers who need to sign contracts in which they are responsible for delays in completing a product. The policy usually covers 90% of fines, but does not cover strikes or disputes over industrial relations.
Literal Meanings of Manufacturers Penalty Insurance
Meanings of Manufacturers:
The person or company that makes the product for sale.
Sentences of Manufacturers
Manufacturers deliver goods to distribution centers
Synonyms of Manufacturers
processor, creator, builder, maker, producer, constructor, fabricator
Meanings of Penalty:
Penalties for breaking laws, rules or agreements.
(In sports and games) A disabled or disabled person imposed on a player or team, usually by breaking the rules.
Sentences of Penalty
The charge carries a maximum sentence of 10 years in prison
Officials familiar with the runners oversee the game and impose sanctions if they violate the rules.
Synonyms of Penalty
penance, punitive action, sanction, retribution, punishment
Meanings of Insurance:
Procedures or agreements used to provide guaranteed compensation for certain losses, injuries, illnesses or deaths in return for payment of premiums by companies or government agencies.
Sentences of Insurance
Many new lenders buy unemployment or health insurance
Synonyms of Insurance
safety measure, security, surety, safeguard, financial protection, preventive measure, immunity, precaution, cover, shelter, provision, defence, indemnification, indemnity, protection