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Definitions of binder

a payment or written statement making an agreement legally binding until the completion of a formal contract, especially an insurance contract

This binder contract, in the claimant's view, was formed by the exchanges between the parties.

a preliminary agreement to buy real property accompanied by a deposit which is lost if the buyer does not complete the purchase

A binder was then signed by the defendant seller and the buyer.

written evidence of insurance that covers a limited time and that will be replaced later with a permanent policy

This binder is a temporary insurance contract, subject to the conditions shown on the reverse side of this form.