Incremental Increase, Indemnity, Independent Adjuster, Independent Audit




Incremental Increase, Indemnity, Independent Adjuster, Independent Audit :




Incremental Increase : An intermittent increment in wages or salary according to a set scale based on time on the job : An intermittent increase in the selling price according to the contract to cover expected additions to the cost of labour and materials



Indemnity : An insurance contract which provides a security against losses. The payment to claim the losses is covered by insurance : legal protection from liability by certain parties or for certain actions



Independent Adjuster : The one who settles the claims as an independent contractor for one or more insurance companies



Independent Audit : Review of an organisation’s financial records by a company which is not associated in any other way with the company : It is expected that the auditor from such a company can render an unbiased opinion as to whether the company is maintaining its records according to generally accepted accounting principles.




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