NRS349.735. “Loss” defined.

Latest version.

“Loss” means a loss incurred by an exporter on an eligible transaction because of:

1. The insolvency of the foreign customer or other failure of the customer to pay to the exporter when due, all or part of the money due from the transaction as denominated in United States currency; or

2. War, revolution, the diversion of goods, revocation of licenses, embargoes and other similar political incidents occurring in the customer’s country or any delay in obtaining payment in dollars.

(Added to NRS by 1985, 2014)

                    
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