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Waiver Of Inventory Clause

What is 'Waiver Of Inventory Clause '

A clause in an insurance policy that says that the insurance company will not require the policyholder to provide a written list of the property that was not damaged during an insured event. The waiver of inventory clause will usually only apply to certain types of claims, such as claims for less than a specified amount.

Explaining 'Waiver Of Inventory Clause '

A waiver of inventory clause can provide a significant benefit for the policyholder since preparing a detailed inventory can be tedious and time consuming. If the items in the inventory are of significant value, the additional time and expense of an appraisal might normally be required to establish a value for those items.


Further Reading


Fiduciary Exemption for Public Necessity: Shareholder Profit, Public Good, and the Hobson's Choice During a National Crisis
heinonline.org [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

A money demand system for euro area M3A money demand system for euro area M3
www.tandfonline.com [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

Contractual Bankruptcy Waivers: Reconciling Theory Practice and LawContractual Bankruptcy Waivers: Reconciling Theory Practice and Law
heinonline.org [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

State constitutional limitations on public industrial financing: an historical and economic approachState constitutional limitations on public industrial financing: an historical and economic approach
heinonline.org [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

Agreements to waive or to arbitrate legal claims: an economic analysisAgreements to waive or to arbitrate legal claims: an economic analysis
www.journals.uchicago.edu [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

The economic impacts of the 1998 sanctions on India and PakistanThe economic impacts of the 1998 sanctions on India and Pakistan
www.tandfonline.com [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

The exemption of nonprofit organizations from federal income taxationThe exemption of nonprofit organizations from federal income taxation
www.jstor.org [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

Commerce clause restraints on State business development incentivesCommerce clause restraints on State business development incentives
heinonline.org [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …

Effects of unconventional monetary policy on financial institutionsEffects of unconventional monetary policy on financial institutions
www.nber.org [PDF]
… could not legally terminate the merger with Merrill Lynch under the merger agreement's material adverse effect clause) … 2010] FIDUCIARY EXEMPTION FOR PUBLIC NECESSITY fore.28 The stock market crash reflected broader economic problems such as the crash of the …



Q&A About Waiver Of Inventory Clause


What does a regulatory agency issue waivers for?

Regulatory agencies may issue waivers to exempt companies from certain regulations. For example, a United States law restricted the size of banks, but when banks exceeded these sizes, they obtained waivers.

Why would you want this type of clause in your policy?

The waiver of inventory clause can provide significant benefits for the policyholder since preparing detailed inventories can be tedious and time consuming. If items are valuable, additional time and expense may be required to establish values for those items.

How are waivers issued?

Waivers are often in writing and signed by both parties. Sometimes words can also be used as a countermeasure to a waiver. An example of this would be an iauthorizationa which becomes a waiver when accepted. When the right to hold someone liable through lawsuit is waived, it may be called an iauthorizationa , iappraisalsa , or ialiabilitywaivera . In some cases parties may sign an "non-waiver" contract which specifies that no rights are waived, particularly if actions suggest that rights are being waived."

What is a waiver of inventory clause?

A waiver of inventory clause is a clause in an insurance policy that says that the insurance company will not require the policyholder to provide a written list of the property that was not damaged during an insured event.

What is a waiver?

A waiver is the voluntary relinquishment or surrender of some known right or privilege.

What does this clause usually only apply to?

This clause usually only applies to certain types of claims, such as claims for less than a specified amount.