The term in XLayers usually refers to the period (span of time) of a Reinsurance Agreement within which the established rules inside an Agreement are considered valid.
In Treaties, this usually coincides with a “precise year” and often begins in January and ends in December, but this is not necessarily binding inasmuch for Facultative Agreements. For Agreements in general, the application of any validity period where the rules are in force can have any time interval.
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