COMMISSION ADVANCES. 1. Company agrees to provide GA/Rep with advances of certain first year commissions (“Advances”) upon issuance of certain health insurance Products.
2. GA/Rep may receive Advances on certain health insurance Products as made available to GA/Rep from time to time. Advances will not be made on internal replacement business or affiliate replacement business. Company may make additional Products available for Advances or discontinue Advances on certain Products in its sole discretion.
3. Advances will be paid based on the Company approved advance mode and advance maximum amount per policy assigned to this Amendment. Advances will be calculated in accordance with the terms and conditions established by Company, which may be changed from time to time at Company’s sole discretion. Payment of Advances will be included with regular compensation payments made pursuant to the terms of the Agreement.
COMMISSION ADVANCES. Notwithstanding Section 2(a), GWIC may, at GWIC’s sole discretion, advance Agent up to six (6) months of commissions at the request of Agent, the head of Agent’s hierarchy or as GWIC deems appropriate and then withhold commissions otherwise payable to Agent under Section 2(a) until such advances are repaid. Such advances shall not bear interest except as provided in Section 3(d)(ii). In no case will GWIC advance more than permitted by the Commission Schedule. In the event GWIC agrees to advance commission to Agent, it may in its sole discretion, cease advancing commission to Agent and continue under Section 2(a).
COMMISSION ADVANCES. Commission advances are not offered by eXp directly but may be obtained in accordance with the following procedures.
1. All commission advances must be approved in writing by the State Broker in advance.
2. Prior to signing any commission advance agreement, the Agent must have the listing file (with an accepted purchase and sale contract) or the transaction file uploaded in eXp’s transaction management system, and it must have passed eXp’s approval process.
3. An Agent may only receive up to 70% of the net commission due to the Agent as a commission advance, or an amount less than $20,000, and up to $3,000 on active listing advances. (Note: Commission advance companies outside of the eXp preferred partners network may offer different amounts). Exceptions to this general rule may be made on a case by case basis in extenuating circumstances, as determined by eXp in its sole and absolute discretion.
4. Agents may receive multiple commission advances but the aggregate of all commission advances that an Agent may have outstanding at any one time shall not exceed $20,000.
5. A $100 service charge (“Service Charge”) will be added to: 1) any advances made from a commission advance company that is outside of the eXp preferred partners network; and 2) and UCC liens presented to eXp from a commission advance company seeking payment of any unpaid commission advance(s).
COMMISSION ADVANCES. 1. Company agrees to provide GA/Rep with advances on certain first year commissions (“Advances”) upon issuance of certain life insurance Products.
2. GA/Rep may receive Advances on certain life insurance Products as made available to GA/Rep from time to time. Company may make additional Products available for Advances or discontinue Advances on certain Products in its sole discretion.
3. Advances will be paid based on the Company approved advance mode and advance maximum amount per policy assigned to this Amendment. Advances will be calculated in accordance with the terms and conditions established by Company, which may be changed from time to time at Company’s sole discretion. Payment of Advances will be included with regular commission payments made pursuant to the terms of the Agreement.
COMMISSION ADVANCES. In exchange for the promises and other consideration in this Agreement, the receipt and sufficiency of which is hereby acknowledged, the Company waives and releases any and all claims relating to or arising from the repayment by Employee of $38,729 in advance commission payments made to Employee.
COMMISSION ADVANCES. Company may, from time to time, make such advances to Rep as may be mutually agreed upon to support Rep’s sales, marketing, and promotional activities on behalf of Company and Products, which advances will be repaid from commissions earned. Company agrees to make one such advance of $8,000 upon execution of this Agreement.
COMMISSION ADVANCES. The company may, at its option, from time to time advance the agent funds in the form of loans against future commissions. These loans shall be deducted from any commissions paid to the agent for any completed retail sales and / or retail leases.
COMMISSION ADVANCES. Company may, from time to time, make such advances to Rep as may be mutually agreed upon to support Rep’s sales, marketing, and promotional activities on behalf of Company and Products, which advances will be repaid from commissions earned. Commission Charge-Back. Company shall have the absolute right to make such allowances and adjustments and to accept such returns from its customers as it deems advisable. In each such case Company shall charge back to Representative’s account any amounts previously paid or credited to it with respect to such allowances, adjustments, and returns.
COMMISSION ADVANCES. A. If the General Agent pays advanced commission to the COMPANY'S licensed agents, the COMPANY shall advance to the General Agent semi- monthly the amount of the commission that the General Agent advances to said agents for the same semi-monthly period.
B. As first year premiums are received by UNITED, for policies on which advances have been made, commissions relating to that portion advanced which would otherwise be payable to the General Agent, shall be credited against such advances.
COMMISSION ADVANCES. (a) The Companies shall pay advances or loans against future commissions to agents or brokers comprising Equita's marketing network only at the advance written request of Equita. Any such sums that may be advanced or loaned to Equita by reason of the practice of the Companies of paying advances against future commission earnings or for any other reason shall be and become a debt from Equita to the applicable Company, due and payable on demand. Equita shall be liable for any claims the Companies may have against the agents or brokers comprising Equita's marketing network for advances or loans, but only to the extent that the advance or loan is approved in writing as provided above.
(b) All debts of Equita to the Companies shall bear interest at the rate of six percent (6%) per annum. After maturity, all debts shall bear interest at the highest rate permitted by law. After termination of this Agreement, all debts created hereunder are due and payable immediately without further notice or demand.
(c) If either of the Companies shall return the premiums on a policy for any cause, Equita shall repay to the applicable Company on demand the amount of commission received on the premiums so returned.
