What Does Floor Mean?

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

Floor

Floor

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

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

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