Financed Premiums. On all premiums which have been financed Company will remit payment for any return premium, less unearned commission, directly to the Finance Company unless otherwise specified. The ultimate liability of Company for payment to a Finance Company, Producer or Insured shall never exceed the amount of return premium less unearned commission developed. Producer agrees to hold Company harmless from any responsibility for payment to Finance Company and further agrees that financing arrangements do not diminish the responsibility for the timely payment of premium by the Producer.
Appears in 4 contracts
Sources: Brokerage Agreement, Brokerage Agreement, Brokerage Agreement