voorschotvergoeding

English translation: advance compensation; advance indemnification

19:20 Nov 21, 2020
Dutch to English translations [PRO]
Bus/Financial - Insurance
Dutch term or phrase: voorschotvergoeding
I'm not sure what this word means in the context of this sentence, which is part of insurance terms and conditions under the section contract price, pool price:

Bij een poolovereenkomst zal, conform het desbetreffende geldende poolreglement, als voorlopige schadevaststelling gelden de voorschotvergoeding zoals die voor de aangesloten poolleden is vastgesteld.
Pamela Downes-Grainger
United Kingdom
Local time: 12:52
English translation:advance compensation; advance indemnification
Explanation:
see e.g.: https://www.lawinsider.com/clause/advance-indemnification

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Note added at 59 mins (2020-11-21 20:20:21 GMT)
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Juridisch-Economisch Lexicon (JurLex):

vergoeding =
payment , fee , consideration , remuneration
(voor bijv. administratiekosten) fee
(IFRS) benefit
(van onkosten) reimbursement, refund, compensation
(van schade) compensation, indemnification
Selected response from:

Michael Beijer
United Kingdom
Local time: 12:52
Grading comment
Thank you.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1advance compensation; advance indemnification
Michael Beijer
2ins. > pre-settlement funding payment
Adrian MM.


  

Answers


57 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
advance compensation; advance indemnification


Explanation:
see e.g.: https://www.lawinsider.com/clause/advance-indemnification

--------------------------------------------------
Note added at 59 mins (2020-11-21 20:20:21 GMT)
--------------------------------------------------

Juridisch-Economisch Lexicon (JurLex):

vergoeding =
payment , fee , consideration , remuneration
(voor bijv. administratiekosten) fee
(IFRS) benefit
(van onkosten) reimbursement, refund, compensation
(van schade) compensation, indemnification

Michael Beijer
United Kingdom
Local time: 12:52
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 15
Grading comment
Thank you.

Peer comments on this answer (and responses from the answerer)
agree  Tina Vonhof (X)
1 day 4 hrs
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14 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
ins. > pre-settlement funding payment


Explanation:
Settlement payment in insurance means an ajustment of the ins. claim.

Otherise, the contract price of what needs spelling out.

Example sentence(s):
  • A pre-settlement advance on your accident is designed to provide plaintiffs with a little cash to get by while their attorney fights for the compensation they deserve.

    Reference: http://www.bridgewaylf.com/guide-pre-settlement-advances
    Reference: http://iate.europa.eu/search/standard/result/1606039107982/1
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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