franchise clause
noun (esp. in marine-insurance policy)
a clause stipulating that the insured will be responsible for any loss not in excess of a stated amount, and the insurance company will be liable for full payment of the loss equaling or exceeding the amount up to the insured amount.
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What’s The Difference Between Independent And Dependent ClausesYou might have seen these terms floating around. Clauses are the building blocks of sentences. They’re groups of related words (phrases) that contain both a subject and a verb. When a clause can stand alone as a complete sentence with a clear meaning, it’s considered independent. If it only makes sense when you join it with another clause, it’s dependent (or subordinate). For example, “in …
Nearby words
francesca da rimini, francescatti, franceschetti's syndrome, franche-comté, franchise, franchise clause, franchisee, franchiser, franchot, francia, francie
Compare deductible clause.
Dictionary.com Unabridged
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019