Common use of Premium Remittance Clause in Contracts

Premium Remittance. 2.1 It is agreed and understood that all premiums collected by the Broker are held in trust and that such premiums are the property of IAS and the Insurers. The Broker recognizes that Broker has no interest in the premiums collected by Broker and shall make no deductions there from before paying same to IAS, except for commissions which have been duly authorized in writing by IAS.

Premium Remittance. 2.1 It is agreed and understood that all premiums collected by the Broker are held in trust and that such premiums are the property of IAS IAAC and the InsurersCompanies. The Broker recognizes that Broker has no interest in the premiums collected by Broker Broker, and shall make no deductions there from before paying same to IASIAAC, except for commissions which have been duly authorized in writing by IASIAAC.

Premium Remittance. 2.1 It is agreed and understood that all premiums collected by the Broker are held in trust and that such premiums are the property of IAS IAAC and the InsurersCompanies. The Broker recognizes that Broker has no interest in the premiums collected by Broker Xxxxxx, and shall make no deductions there from before paying same to IASIAAC, except for commissions which have been duly authorized in writing by IASIAAC.

Premium Remittance. 2.1 It is agreed and understood that all premiums collected by the Broker are held in trust and that such premiums are the property of IAS IAAC and the Insurers. The Broker recognizes that Broker has no interest in the premiums collected by Broker Broker, and shall make no deductions there from before paying same to IASIAAC, except for commissions which have been duly authorized in writing by IASIAAC.