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Rain Certificates


Certificate Aim Definition
Rain Day Certificate (Daily Index) Payout when there are above average Rain Days during the period. Under this Certificate, the Client will receive a fixed amount of [Payout] for each Rain Day after [Strike] of such days up to a maximum of [Maximum Payout] during the period from [Start Date] until [End Date]. A Rain Day is defined as a day on which the daily rainfall measured by the independent national meteorological station exceeds [Threshold] mm.
Rain Day Certificate U.S. (Daily Index in inch) Payout when there are above average Rain Days during the period. Under this Certificate, the Client will receive a fixed amount of [Payout] for each Rain Day after [Strike] of such days up to a maximum of [Maximum Payout] during the period from [Start Date] until [End Date]. A Rain Day is defined as a day on which the daily rainfall measured by the independent national meteorological station exceeds [Threshold] inch.
Rain Season Certificate (Cumulative Index in mm) Payout when there is above average rainfall (mm) during the period. Under this Certificate, the Client will receive a fixed amount of [Payout per] for every mm that the cumulative rainfall is above [Strike] mm up to a maximum of [Maximum Payout] during the period from [Start Date] until [End Date]. The cumulative daily rainfall is defined as the rainfall measured by the independent national meteorological station.
 

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