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Từ vựng:

knock-for-knock agreement

Giải nghĩa:

/nɑk fɔr nɑk əˈɡriːmənt/ – Phrase


Definition: Thỏa thuận trao đổi bồi thường tự chịu trách nhiệm.

A more thorough explanation: an agreement between two or more insurance companies that each will pay the claims of their own clients arising from the same accident, usually a motor accident

Example: Knock-for-knock agreements between insurers can seem unfair on the party not responsible for an accident.

 

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