Based on the provided reference, "TOB" stands for terms of business.
In the context of insurance, specifically relating to an insured party's interactions with sellers and servicers, TOB refers to:
TOB means terms of business the Insured negotiates with its sellers and servicers from time to time which may amend, waive or otherwise alter certain terms of the Guide.
Essentially, TOB are the negotiated agreements between the insured party and their sellers and servicers. These agreements can modify or change aspects of a pre-existing "Guide," potentially waiving or altering specific conditions. Think of it as a customized set of rules within a larger framework.
