Cancellation of an option
Definition : Decision which puts an end to an option previously agreed by the credit insurer. The cancellation followed:
- a serious incident
- a bankruptcy
- the degradation in the economic and politic situation of the country of the Buyer. Then, in this case, the cancellation decision is applied to the agreements as a whole issued in this country
- a decision based on credit insurer onw constraints like a cancellation of a line on a country or a sector
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