A way of doing things that is programmed to happen at specific times.

When a bill is paid directly from an account through an electronic transfer . This must be authorized. The vendor must submit a request. It can be stopped at any […]

A telephone device that works through a computer to help callers. It has menus, plays messages, sends calls to the parties needed.

In the United States a national ELECTRONIC FUNDS TRANSFER network that clears and settles recurring payments between financial institutions, as well as debits and credits generated through businesstobusiness commerce and […]

the term used when a court ends before the case is settled and the case may be automatically bound over to next session or term of the court. Known as […]

Insurance that extends a policy for a period of time for a certain amount. It helps to cover the changes in market value or a new asset.

An INSURANCE contract that automatically comes into effect when an INSURED acquires new property or revalues existing property. Automatic coverage eliminates the possibility of UNDERINSURANCE .

When data is input into a computer without any human assistance. A barcode, magnetic strip, optical recognition , radio frequency identification , and even speech recognition . Refer to electronic […]

A statement on a listing that requires the owner to pay the broker to sell or lease property at a rate agreed upon. An extension can be added to make […]

An instrument that helps keep economic changes more stable. The government does not get involved. AKA automatic stabilizers or builtin stabilizers.

The way a machine can identify a container or item with capture technologies.

When the payment anounts increase by a percent agreed upon for a certain time period . This applies to disability coverage.

An agreement that allows withdrawals periodically from an account to invest in a mutual fund .

To sell items in vending machines. AKA automatic selling.

Coverage to prevent losses that may be greater than the limit allowed.

Automatic REINSURANCE coverage for an INSURER that becomes effective once a defined loss limit is exceeded, often implemented through a STOP LOSS AGREEMENT or a CATASTROPHE PER OCCURRENCE EXCESS OF […]

Refer to direct debit payment and standard order.

When an loan based on cash surrender value is taken out to cover life insurance premuims. It prevents loss and past due status.

Reinsurance that transfers risk. The losses and gains are split between the insurer and reinsurer. The reinsurer must pay a fee to transfer the commission.

A clause in an INSURANCE contract indicating that after the INSURER has paid the INSURED on a CLAIM, the original contract limits are automatically renewed.

Reinsurance that covers certain risks. Both parties must agree to this.

When a share holder lets gain payments be used to pay for more stock.

When a contract is renewed unless one party decided to discontinue it.

A legal provision afforded to a debtor in BANKRUPTCY that prohibits filing of lawsuits against the company and limits the ability of creditors to dispose of COLLATERAL held as security. […]

1.when funds are taken out of an account with the account holders approval. It is done on the date and for the amount agreed to without them having to do […]