Premium Processing Sample Clauses

The Premium Processing clause establishes an expedited service option for handling certain requests or applications, typically in exchange for an additional fee. This clause outlines the eligibility criteria, the specific types of requests that qualify, and the timeframes within which the expedited processing will be completed. Its core practical function is to provide applicants or clients with a faster decision or service, addressing the need for urgent processing and offering a solution for time-sensitive situations.
Premium Processing. Except as otherwise set forth herein, the State shall have no payment obligations to the Contractor, and the Contractor shall have no recourse to the State, for Premium payments. The State shall be responsible for the aggregation and administration of Premiums for Qualified Employers and Qualified Individuals purchasing insurance through VHC. The State shall be responsible for: (1) the submission of bills to each Employer on a monthly basis in a form that identifies Employer and Employee contributions and the total amount due; (2) collecting the amounts due from each Employer; (3) determining that portion of collected premiums which is payable to Contractor; and (4) making payments to Contractor for Enrollees in Contractor’s Certified QHPs within timeframes identified in the Payment ICD and Companion Guide attached to the Trading Partner Agreement between the parties; and (5) promptly processing non-payment termination transactions transmitted to the State by Contractor. In no event shall the State be liable to Contractor with respect to any interest or other charges relating to Premium payments received by the State that are not yet disbursed by the State to the Contractor; provided, however, the State shall be liable to the extent of its own negligent acts or omissions or intentional misconduct which results in the failure to distribute Premium payments to Contractor which are owing for coverage provided pursuant to the QHPs attached hereto in Exhibit 1. In no event shall Contractor be liable for the negligent acts or omissions or intentional misconduct of the State, including billing errors attributable to the State and, to the extent Contractor has provided coverage for Premiums received, Contractor shall not be required to rescind such coverage.
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Premium Processing. We deduct the Premium Load at the time we receive the premium payment. We will credit the resulting Net Premium to the Investment Options based on your instructions on file with us. Premium Limitation – We reserve the right to require Evidence of Insurability for any premium payment that would result in an increase in the Net Amount at Risk. If such Evidence of Insurability is not satisfactory, we may limit or refuse the premium payment, unless it is necessary to keep the Policy In Force. Guideline Premium Limit – This subsection applies only if the Guideline Premium Test is the Death Benefit Qualification Test specified in the Policy Specifications. In order for this Policy to qualify as a life insurance contract under Section 7702 of the Code, the sum of the premiums paid less a portion of any withdrawals, as specified in the Code, may not exceed the Guideline Premium Limit, which is the greater of: • The Guideline Single Premium; or • The sum of the annual Guideline Level Premiums to the earlier of the date of payment or the younger Insured’s Age 100. The Guideline Premiums are shown in the Policy Specifications. The Guideline Premiums may change whenever there is a change in the Total Face Amount of insurance, whether scheduled or otherwise, or certain other Policy benefits or factors. Any such Guideline Premium change will be shown in a supplemental schedule that we will send to you at the time of the change. The Guideline Premiums are used to determine the premium limits beyond which this Policy would fail to qualify as a life insurance contract under the Code. Payment of the Guideline Premiums does not guarantee that the Policy will never lapse and additional premiums may be necessary to prevent the Policy from lapsing in the future. The Guideline Premiums are determined by the rules that apply to this Policy as set forth in the Code. The Guideline Premiums will be adjusted to conform to any changes in the Code. To the extent that a premium payment would exceed such limits, we will refund the excess payment to you in accordance with the Tax Qualification as Life Insurance section of this Policy, provided that we may not refuse any premium payment necessary to keep this Policy In Force. Further, we reserve the right to make distributions from the Policy to the extent we deem necessary to continue to classify this Policy as a life insurance contract under the Code, in accordance with the Tax Qualification as Life Insurance section of this Policy.
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Premium Processing. EquiTrust Life shall: (a) Receive all premiums and policy change requests from CCSI, and shall date stamp and process those items promptly. (b) Premiums shall be deposited into a bank account of COUNTRY. (c) Maintain all written communication pertinent to the change application. (d) Initiate transfer of funds from another company including but not limited to 1035 exchanges, replacements and rollovers.
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Premium Processing. Infinisource will consider premiums timely sent if they are received in the offices of Infinisource or postmarked by the applicable grace date as listed on the premium invoice. Premiums collected by Infinisource will be deposited into a custodial bank account maintained by Infinisource as set forth in the Agreement. Infinisource will send to Employer all premiums collected during a month by the 15th business day following the end of the month, reduced by the two percent (2%) administrative fee which Infinisource will keep as part of its overall administrative fee. Infinisource will submit premiums to appropriate third parties only upon written instruction from Employer. In addition, Infinisource will retain any interest earned on such funds while held in an Infinisource maintained custodial account as an administrative fee. Notwithstanding the above, premiums will not be co-mingled with Infinisource’s own funds. In the event that a premium payment is rejected due to insufficient funds or the fact the qualified beneficiary has stopped payment, such payment will be construed as nonpayment. If Infinisource has already sent the premium to the Employer before Infinisource becomes aware of the rejected payment, Employer shall reimburse Infinisource the amount of the rejected payment, and the qualified beneficiary’s period of coverage will be adjusted accordingly. Notwithstanding anything to the contrary, Infinisource will continue to provide this service for qualified beneficiaries whose COBRA period ends after eighteen (18) months as long as their USERRA period continues.
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Premium Processing. Unless instructed otherwise In Writing, when a premium payment is received, the applicable Premium Load(s) will be determined based on the Allocation Instructions on file. Applicable Premium Load(s) will then be deducted from the premium payment resulting in Net Premium. The Net Premium will then be applied to the Investment Option(s). Depending on the Premium Load(s) that are deducted from each premium payment, the percentage of Net Premium that is applied to the Investment Option(s) may vary from the Allocation Instructions provided.
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Premium Processing. We deduct the Premium Load at the time we receive the premium payment. We will credit the resulting Net Premium to the Investment Options based on your instructions on file with us.
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Premium Processing. Upon Bank approval for premium processing, higher limits may be enabled for inbound and outbound transactions in an aggregate maximum dollar amount of $5,000 per day, and $10,000 per calendar month.
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Related to Premium Processing

  • Data Processing In this clause:

  • Sub-Processing 10.1 In respect of any Processing of Personal Data performed by a third party on behalf of a Party, that Party shall: (a) carry out adequate due diligence on such third party to ensure that it is capable of providing the level of protection for the Personal Data as is required by the contract, and provide evidence of such due diligence to the other Party where reasonably requested; and (b) ensure that a suitable agreement is in place with the third party as required under applicable Data Protection Legislation.

  • Data Collection, Processing and Usage Personal data collected, processed and used by the Company in connection with Awards granted under the Plan includes the Grantee’s name, home address, email address, telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any shares of Common Stock or directorships held in the Company, and details of all Awards granted, cancelled, exercised, vested, or outstanding. In granting Awards under the Plan, the Company will collect the Grantee’s personal data for purposes of allocating shares of Common Stock in settlement of the Awards and implementing, administering and managing the Plan. The Company collects, processes and uses the Grantee’s personal data in compliance with Company’s Employment Data Protection Standards and the Uses of Employment Data for the Company’s Entities. The Grantee may exercise rights to access, correction, or restriction or deletion where applicable, by contacting the Grantee’s local HR manager or initiating a request through ▇▇▇.▇▇▇▇.gehealthcare.com.

  • Payment Processing Citizens may require any other information from Vendor that Citizens deems necessary to verify any compensation request placed under this Agreement and Vendor agrees that it will provide such information as reasonably requested by Citizens. Payment shall be due net thirty (30) calendar days of Citizens’ actual receipt of a complete and undisputed invoice. Where a submitted invoice is incomplete, such as not containing the information described in this Section, Citizens will return the incomplete invoice to Vendor for correction within thirty (30) calendar days of Citizens’ actual receipt of such invoice. Where Citizens reasonably disputes any part of a complete invoice, such as the amount of the compensation request, Citizens shall pay any undisputed portion of the invoiced amount within (30) calendar days of Citizens’ actual receipt of the complete invoice and will describe the basis for the disputed portion of the invoiced amount. Where Vendor disagrees with Citizens dispute of any invoice, the Parties shall seek to resolve the dispute in accordance with the Dispute Resolution Process further described in this Agreement. In no case shall Citizens be subject to late payment interest charges where Vendor has submitted an incomplete invoice or where Citizens has reasonably disputed an invoice. Where Vendor fails to submit an invoice within twelve (12) calendar months of the Services for which compensation is being requested, Vendor acknowledges and agrees that any payment due for such Services is forfeited by Vendor for its failure to timely submit an invoice.

  • Claims Processing BCBSM will process Provider's Clean Claims submitted in accordance with this Agreement in a timely fashion.