open policy
coverage normally used on an indefinite basis under ocean marine insurance and inland marine insurance (transportation insurance): business risks : business risk for the damage or destruction of a shipper's goods in transit.
Open Policy.
A cargo policy with no expiration date that provides automatic coverage of cargo to or from an Assured in a specified trade at agreed rates, terms, and conditions. Usually consists of separate Marine and War policies.
Open Policy
A marine cargo insurance policy issued to cover various unspecified exports over the life of the policy.
Open position
A net long or short position whose value will change with a change in prices.
The method of trading used at futures exchanges, typically involving calling out the specific details of a buy or sell order, so that the information is available to all traders.
Open Policy ...
 See also: Bills, On board, Bill of lading, Outsourcing, Letter of credit
  
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