Simple English definitions for legal terms
Read a random definition: Missile Defense Agency
An interim receipt is a written acknowledgment that a payment has been made for an insurance policy, but the policy is still pending final approval. It is not a final receipt, but rather a temporary one until the policy is fully processed.
An interim receipt is a written acknowledgment of a payment made on an insurance policy that is waiting for final approval. It is a temporary receipt that confirms the payment has been received and is being processed.
These examples show that an interim receipt is given when a payment is made on an insurance policy, but the policy is not yet finalized. The interim receipt serves as proof of payment and assures the policyholder that their payment is being processed.