Nov 21, 2020 19:20
3 yrs ago
20 viewers *
Dutch term

voorschotvergoeding

Dutch to English Bus/Financial Insurance
I'm not sure what this word means in the context of this sentence, which is part of insurance terms and conditions under the section contract price, pool price:

Bij een poolovereenkomst zal, conform het desbetreffende geldende poolreglement, als voorlopige schadevaststelling gelden de voorschotvergoeding zoals die voor de aangesloten poolleden is vastgesteld.

Proposed translations

+1
57 mins
Selected

advance compensation; advance indemnification

see e.g.: https://www.lawinsider.com/clause/advance-indemnification

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Note added at 59 mins (2020-11-21 20:20:21 GMT)
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Juridisch-Economisch Lexicon (JurLex):

vergoeding =
payment , fee , consideration , remuneration
(voor bijv. administratiekosten) fee
(IFRS) benefit
(van onkosten) reimbursement, refund, compensation
(van schade) compensation, indemnification
Peer comment(s):

agree Tina Vonhof (X)
1 day 4 hrs
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4 KudoZ points awarded for this answer. Comment: "Thank you."
14 hrs

ins. > pre-settlement funding payment

Settlement payment in insurance means an ajustment of the ins. claim.

Otherise, the contract price of what needs spelling out.
Example sentence:

A pre-settlement advance on your accident is designed to provide plaintiffs with a little cash to get by while their attorney fights for the compensation they deserve.

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