What Does Custodian Mean?
What does Custodian mean? Read on to discover the definition & meaning of the term Custodian - to help you better understand the language used in insurance policies.
Custodian
A custodian of insurance is someone who is entrusted with the possession of a property or goods through a contract of bailment. Unlike goods transferred in a contract of sale, the custodian is legally obligated to return the property to the bailor.
We hope the you have a better understanding of the meaning of Custodian.
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