The word tender has been defined as an offer of money or goods in payment or satisfaction of a debt or other obligation. An offer to perform is a tender. A tender involves an unconditional offer by a person making the tender to pay an amount in lawful currency that is at least equal to the amount owing in a specified debt. The purpose of tender is to close a transaction so that the person making the tender may be relieved of further liability for the debt or obligation.
Maryland Letter Tendering Payment in Order to Settle a Disputed Claim
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How to fill out Letter Tendering Payment In Order To Settle A Disputed Claim?
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2 : to extend for acceptance or consideration (as in proof of something) esp. in a proceeding [ a plea to the court] [ an issue]
Primary tabs. Tender is to unconditionally offer money or performance to meet an obligation. The term most commonly arises in the context of the contractual sale of goods.
To "tender" a contract to a player is to agree to give a contract for the upcoming season to a player who is under club control.
A tender of defense is the act in which one party places its defense and all costs associated with said defense with another due to a contract or other agreement.
This is typically your client's first communication about a new claim with their insurance company and can often be the difference between an easy transition into coverage for your client, a lengthy battle with an insurance company, or, at worst, a denial of coverage.
B : to offer as an amount in settlement of a claim by an injured party against an insured NOTE: An insurance company might be obligated to tender the limits of a policy to an injured party when a higher amount is likely to be awarded at trial.