Common use of Agency and Direct Billing Clause in Contracts

Agency and Direct Billing. If the net premium on a policy written under this Agreement is not collected in full when written, the General Agent is authorized to xxxx and collect premiums as follows: all policies written under this Agreement may be billed and collected on an Agency basis in full, and private passenger automobile business written under this Agreement may be billed and collected on a direct, installment basis according to its approved underwriting guidelines. The General Agent is authorized to retain, but only on those premiums due and remitted to the Company, commissions at the rate(s) specified in Section C.

Agency and Direct Billing. If the net premium on a policy written under this Agreement is not collected in full when written, the General Agent is authorized to xxxx and collect premiums as follows: all policies written under this Agreement may be billed and collected on an Agency basis in full, and designated lines of insurance (defined as private passenger automobile business insurance, dwelling fire insurance and homeowners insurance) written under this Agreement may be billed and collected on a direct, installment basis according to its approved underwriting guidelines. The General Agent is authorized to retain, but only on those premiums due and remitted to the Company, commissions at the rate(s) specified in Section C.