Glossary entry (derived from question below)
English term or phrase:
minimum and deposit basis
Romanian translation:
pe bază de primă minimă și de depozit
Added to glossary by
Adriana Dragomir
Apr 19, 2017 16:54
7 yrs ago
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English term
minimum and deposit basis
English to Romanian
Other
Insurance
minimum and deposit basis
where a policy has been arranged on a minimum and deposit basis, the premium has been calculated by applying rates to estimated wageroll at the beginning of the year.
Proposed translations
(Romanian)
| 5 | pe bază de primă minimă și de depozit |
Florin Savu
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Proposed translations
4 hrs
Florin Savu
Romania
Romania
Native in Romanian
Works in field
Romania
Quick, high-quality, versatile
Native in: Romanian (Variant: Romania) 
Works in: English to Romanian, Italian to Romanian, Romanian to English, and 2 more.
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8
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pe bază de primă minimă și de depozit
From http://businessinsureuk.blogspot.ro/2015/07/minimum-and-depo...
„If the premium is on a minimum and deposit basis, this means two things.
Firstly, the premium you pay is a minimum, which means that even if you cancel the policy early, even after a few weeks, you will not get any refund of premium, whether or not you have had a claim.
Secondly, the fact that it is a deposit premium, means that when you get to the end of the insurance year and you know the actual turnover and wageroll figures, if these are higher you may need to pay an additional premium. The premium you pay at the beginning is a deposit, based on your expected business activity.”
„If the premium is on a minimum and deposit basis, this means two things.
Firstly, the premium you pay is a minimum, which means that even if you cancel the policy early, even after a few weeks, you will not get any refund of premium, whether or not you have had a claim.
Secondly, the fact that it is a deposit premium, means that when you get to the end of the insurance year and you know the actual turnover and wageroll figures, if these are higher you may need to pay an additional premium. The premium you pay at the beginning is a deposit, based on your expected business activity.”
Reference:
http://businessinsureuk.blogspot.ro/2015/07/minimum-and-deposit-basis-business.html
http://www.ceasigurari.ro/ceaweb/fls/fls/conditii%20asigurare%20cargo%20v1.pdf
4 KudoZ points awarded for this answer.
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