Premium Payments and Accounting. 9.1 Subject to any agreement to the contrary, Insurance Premium Tax and any fees for services are to be accounted for by the Intermediary not later than 15 working days after the effective inception, renewal or adjustment date (as appropriate) of the policy whether or not collected by the Intermediary. In each case the Company will issue an invoice to the Intermediary. 9.2 In the absence of payment of the premium by the invoice due date, the Company reserve the right to either cancel the cover or consider the case as not taken up. 9.3 The Intermediary will be responsible for any time on risk charges should any case not proceed. 9.4 All Insurance monies that the Intermediary receives and holds pursuant to this agreement shall be held on behalf of its clients and not on behalf of the Company or the Insurer, and shall be held in a Trust Account in accordance with the requirements of CASS 5.3 & 5.
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Samples: Terms of Business Agreement, Terms of Business Agreement, Terms of Business Agreement
