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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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