Binder Extension Default

When the Extend icon on the binder details screen is clicked, the binder is automatically extended by the number of days specified in the binder term default.

To Change the Binder Term Default

The binder term default controls not only the number of days in a binder extension, but also controls the policy coverage term when bound is selected on a marketing policy or a new binder is created.

1. On the Utility menu, click SETUP.
2. In the Setup Console, click Lookup Management.

3. In the Category list, select Policy.
4. In the Types box, select Binder Term. The Binder Term screen is displayed on the right side of the tab.
5. In the Select Item box, click the current binder term default. The Duration Value and Description for the default are displayed in the boxes below.
6. In the Duration Value box, enter the duration in days for the new binder extension default. For example, 30, 60, or 90.
7. In the Description box, enter a description of the new extension default that will be displayed in the Binder Term screen.
8. Click [Update]. The new Duration Value and Description overwrite the old default.

Related Topics

Binder Log

Creating a Binder

Extending a Binder

Putting a Bound Policy In Force