What Does Cap Mean?

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What does Cap mean? Read on to discover the definition & meaning of the term Cap - to help you better understand the language used in insurance policies.

Cap

Cap

An agreement obligating the seller to make payments to the buyer, with each payment based on the amount by which a reference price (or level) or the performance (or value) of one or more underlying interests exceeds a predetermined number, sometimes called the strike rate or strike price.

We hope the you have a better understanding of the meaning of Cap.

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