Where a ship registers with a flag of a country not requiring high standards of compliance to safety, inspections, surveys, etc. it is said to be registered with a ‘flag of convenience’.
This entry was posted in . Bookmark the permalink.
In pensions this is a term applied to the combining of Life Insurance contracts with a fund called a side fund or auxiliary fund. The purpose is to increase the amount of money available for a pension or annuity at some future date.