Rider
A rider is an additional provision or clause added to an existing contract, policy, or law. Riders are often used to modify or add to the terms of the original agreement. Riders can be used to add, delete, or modify the terms of a contract, policy, or law. Riders are often used to add additional benefits or protections to an existing agreement. For example, a rider may be added to an insurance policy to provide additional coverage for a specific type of claim.
History of Riders
Riders have been used for centuries to modify or add to the terms of an existing agreement. In the United States, riders were first used in the late 1700s to modify the terms of contracts between states and the federal government. Since then, riders have been used to modify the terms of contracts, policies, and laws in a variety of contexts. Today, riders are commonly used in insurance policies, loan agreements, and other contracts.
Comparison Table
| Type of Agreement | Rider |
|---|---|
| Insurance Policy | Additional coverage for a specific type of claim |
| Loan Agreement | Modification of interest rate or repayment terms |
| Contract | Modification of terms or conditions |
Summary
A rider is an additional provision or clause added to an existing contract, policy, or law. Riders are often used to modify or add to the terms of the original agreement. Riders can be used to add, delete, or modify the terms of a contract, policy, or law. Riders are commonly used in insurance policies, loan agreements, and other contracts. For more information about riders, you can visit websites such as Investopedia, The Balance, and the US Small Business Administration.
See Also
- Endorsement
- Addendum
- Amendment
- Waiver
- Clause
- Subrogation
- Indemnification
- Substitution
- Assignment
- Escrow
