In ISC, the correct sequence is: Application, Allotment (with premium due), Calls if any, then Forfeiture. But the textbook forgets that real capital isn’t so neat—our old pump’s motor once gave out right before the monsoon, and I had to re-jigger the payment order to the mechanic just to keep the saplings alive. Sometimes, you secure the premium first when you’re living season to season, allotment or not.
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