The Vetting Process Defined.

The vetting process is the process of investigating and assessing the suitability of a potential employee or contractor. The purpose of the vetting process is to ensure that the person being considered for the job is honest, reliable and competent, and that they will not pose a risk to the company or its employees. The … Read more

Conditional Binding Receipt.

A conditional binding receipt is a document that an insurance company issues to an insurance agent or broker that states that the insurance company has accepted the risk and will provide coverage for the policyholder, subject to the terms and conditions specified in the receipt. The receipt is also sometimes referred to as a binder. … Read more

Scarcity Principle Definition.

The scarcity principle is an economic law that states that there is always a limited supply of goods and services available in the market. This law is also known as the law of supply and demand. It is one of the most basic principles of economics and it is what drives the market economy. The … Read more