honorable engagement clause

honorable-engagement clause. Reinsurance. An arbitration provision in a reinsurance contract allowing the arbitrators to view the reinsurance arrangement reasonably — in line with the agreement’s general purposes — rather than strictly according to the rules of law or an overly technical interpretation of contract language. [Cases: Insurance 3626. C.J.S. Insurance § 1516.]

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词条贡献者

译员Roger，毕业于欧洲一流的高级翻译学院，专注翻译各种与公共及基础设施融资有关的法律文件。