Laserfiche WebLink
Advance Premium - The premium that is stated in the applicable initial policy Declarations or <br />Renewal Certificate and payable in full by the first Named Insured at the inception of each Pol- <br />icy Period. <br />Earned Premium - The premium that is developed by applying the rate(s) scheduled in the pol- <br />icy to the actual premium basis for the audit period, <br />Minimum Premium - The lowest premium for which this insurance will be written for the Policy <br />Period stated in Item 2. of the Declarations of the applicable initial policy or subsequent Re- <br />newal Certificate. This minimum premium is equal to one hundred percent (100%) (unless a dif- <br />ferent percentage [%] is shown in the SCHEDULE above) of the advance premium including <br />any premium adjustments made by endorsement to this policy during the Policy Period, Pre- <br />mium adjustments do not include the audit premium developed for the Policy Period stated in <br />Item 2. of the Declarations. <br />UTS-1199 (6-14) <br />MINIMUM EARNED CANCELLATION PREMIUM <br />The following provision is added to the Cancellation Condition: <br />If You request cancellation of this policy, We will retain not less than the portion of the advance premium as <br />stated in the Schedule. <br />AUTHORIZED REPRESENTATIVE <br />Includes copyrighted material of ISO Properties, Inc., with its perm <br />Copyright, 150 Properties, Inc., 2007 <br />UTS-128s (8-15) Page 4 of 4 <br />