Boiler Plate

One phrase that you may hear from time to time bandied around is boiler plate.

It is not obvious what this actually refers to however, as is often the case with the world of finance.

This is just an informal term that is used to refer to the clauses and conditions in documents such as insurance, wills, loans and so on.

Usually it refers to the standard terms that are written in a rather opaque language that most people will not probably actually understand, though there is currently a drive in some parts of the world to write these more clearly so that people have a chance of understanding reasonably what it is that they are signing up to.

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