Legal Definitions - net valuation premium

Net Valuation Premium: This is a term used to describe the amount of money that is paid for an insurance policy after any deductions or discounts have been taken into account. It is the final amount that the policyholder pays to the insurance company.

Net Value: This refers to the value of something after all the costs associated with it have been subtracted. For example, the net value of a car would be the amount of money it is worth after any repairs or maintenance costs have been taken into account.

Net Weight: This is the weight of an object after any packaging or other materials have been removed. For example, the net weight of a bag of chips would be the weight of the chips themselves, without the weight of the bag included.

Network Element: In telecommunications, a network element is a piece of equipment or facility that is used to provide a telecommunications service. This can include things like routers, switches, and other hardware, as well as software features and capabilities that are part of the service.