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principal sum

noun, Insurance.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for principal sum
  • If more than one covered loss is sustained during one accident, the plan will pay all losses up to the principal sum amount.
  • After lengthy litigation, the contractor and the surety settled with the subcontractor for the entire principal sum in dispute.
  • In the case of a bond, the aggregate liability of the surety in no event shall exceed the principal sum of the bond.
  • The principal sum of the bond shall be twenty-five thousand dollars.

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