Business, Legal & Accounting Glossary
A legal term referring to insurance that covers property entrusted by a bailor to a bailee, or temporary custodian of another’s property, that takes effect when the bailor receives a receipt from the bailee for the property. Bailee’s customers insurance covers any loss or damage incurred to an item while in the care of a properly designated custodian.
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This glossary post was last updated: 20th November, 2021 | 0 Views.