Home > Terms > English, UK (UE) > Acceleration clause

Acceleration clause

The part of a contract that says when a loan may be declared due and payable.

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  • Part of Speech: noun
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  • Blossary:
  • Industry/Domain: Insurance
  • Category: Life insurance
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Related terms

acceleration clause
Business services; Relocation

Clause used in an installment note and mortgage (or deed of trust), which gives the lender the right to demand payment in full upon the happening of a certain event, such as ...

acceleration clause
Convention; Conferences

A provision sometimes used in contracts to accelerate deposit payment schedule or to demand full prepayment of master account in the event of a default or lack of credit by the ...

acceleration clause
Law; General law

A contractual provision, which hastens the due date of payment or obligation, as a penalty for default in the payment/obligation.

acceleration clause
Financial services; General Finance

A contract stating that the unpaid balance becomes due and payable if specific actions transpire, such as failure to make interests payments on time.

acceleration clause
Insurance; Life insurance

The part of a contract that says when a loan may be declared due and payable.

acceleration clause
Accounting; Tax

A clause (often in mortgages or other loans) where some action will occur ahead of schedule as a result of some other action For example, an acceleration clause in a loan may ...

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Generally refers to Lloyd's of London, England, an institution within which individual underwriters accept or reject the risks offered to them. The Lloyd's Corp. provides the ...

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Insurance; Life insurance

These organizations are voluntary unincorporated associations of individuals. Each individual assumes a specified portion of the liability under each policy issued. The ...

National Association of Insurance Commissioners (NAIC)
Insurance; Life insurance

Association of state insurance commissioners whose purpose is to promote uniformity of insurance regulation, monitor insurance solvency and develop model laws for passage by state ...

dividend
Insurance; Life insurance

The return of part of the policy's premium for a policy issued on a participating basis by either a mutual or stock insurer. A portion of the surplus paid to the stockholders of a ...

earned premium
Insurance; Life insurance

The amount of the premium that as been paid for in advance that has been "earned" by virtue of the fact that time has passed without claim. A three-year policy that has been paid ...

elimination period
Insurance; Life insurance

The time which must pass after filing a claim before policyholder can collect insurance benefits. Also known as "waiting period."

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