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Glossary of common terms BOND EXPRESS Administrator A fiduciary appointed by a probate court to manage and/or distribute the assets of a deceased person s estate when no will exists. Attorney-in-fact An individual who holds a Power of Attorney granted by a surety company authorizing the execution of a surety bond. Bond limit The limit of liability under a bond. Also referred to as the penal sum* Cancellation clause A clause in a bond that permits the surety to terminate its future...
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The glossary of common terms is a document that contains definitions and explanations of commonly used terms in a specific field or industry.
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The requirement to file a glossary of common terms depends on the specific regulations or guidelines set by the relevant governing body or organization. It is typically required by entities or individuals who operate within the specific field or industry for clarity and standardization purposes.
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The process of filling out a glossary of common terms may vary depending on the specific requirements. However, it generally involves identifying commonly used terms, providing their definitions and explanations, and organizing them in a systematic manner. It is important to adhere to any formatting or submission guidelines provided by the governing body or organization.
What is the purpose of glossary of common terms?
The purpose of a glossary of common terms is to establish a shared understanding and common language among stakeholders within a specific field or industry. It helps in promoting clarity, reducing confusion, and ensuring effective communication and collaboration.
What information must be reported on glossary of common terms?
The information reported in a glossary of common terms typically includes the term itself, its definition, and any additional explanations or clarifications that are deemed necessary. It may also include references to related terms or concepts.
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