Cost and Insurance. Sale term relating to goods in transit. The seller does not pay the shipping charges, leaving the buyer to make his own arrangements. The seller does arrange the insurance and includes the insurance premium in the purchase price.
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Facility-of-Payment Clause
A contract provision found in Industrial Life policies, which permits the insurer to pay a portion of the proceeds of the policy to any relative or person who has possession of the policy, and who appears equitably entitled to such payment. This provision is designed to facilitate payment when some doubt may exist as to who the beneficiary is, and to save legal expenses in the settling of an estate.