The addendum definition is an attachment, clause, or section added to an agreement or contract specifying additional terms, conditions, or requirements to the original agreement or contract. When a contract or agreement needs to be updated or changed, the parties involved use addendums. These can mo...

The party who services a loan, who may or may not be the lender who originated it....

Amount of loss that insured pays in a claim; includes the following types: Absolute dollar amount. Amount the insured must pay before the company will pay, up to the limits of the policy. The higher the absolute dollar amount, the lower the premium. Time period amount (Elimination period/Waiting per...

Outer covering containing an insurance policy; in many instances it lists provisions common to several types of policies....