PREMIUMS AND ACCOUNTING. A. Partner Agent shall be responsible for collecting premiums, whether advance, deposit, developed, installment, audit, renewal, additional, or otherwise, on all policies other than direct-bxxx policies. Despite the foregoing, however, Company reserves the right, in its sole discretion, to communicate with, to directly collect premium from, and/or to cancel or non-renew policies of, its insureds. Except as otherwise provided in this Agreement, Partner Agent shall be liable for and pay all earned premium to Company, even if Partner Agent does not collect such premium from the policyholder. Uncollected premiums shall be remitted from Partner Agent’s own funds and not the Premium Trust Fund. Partner Agent may deduct Commission from the Premium Trust Fund.
PREMIUMS AND ACCOUNTING. A. The CEDING COMPANY shall pay to the REINSURER an initial reinsurance premium of [REDACTED] as of the EFFECTIVE DATE.
PREMIUMS AND ACCOUNTING. 3.01 Hawaii will require all premiums for C&F Policies to be paid directly to C&F. Any premiums or monies collected by Hawaii are the property of C&F and shall be held in trust on behalf of C&F in a fiduciary capacity and shall be immediately endorsed over to C&F without deposit by Hawaii and forwarded to C&F in no more than two (2) business days.
PREMIUMS AND ACCOUNTING. All insurance premiums are direct-billed, except for the initial premium with the application, which the Agent will send directly to the Company. The Agent will not retain commissions out of premiums collected. The Company shall pay commissions at the rate or rates specified in the attached Commission Schedule. The Company, in accordance with the terms and conditions of the Contract, may from time to time provide revisions to commissions. The Agent agrees that if the Company is required to refund premiums under any contract, policy or certificate of insurance by reason of any cancellation, reduction in coverage, or change in law or regulation, or otherwise, either during or after the term of this Contract, the Company will deduct such commissions at the same rate at which such commissions were originally paid to the Agent. It is understood and agreed that all premiums, and other monies collected for and on behalf of the Company by the Agent, are received by the Agent in a fiduciary capacity and are accepted by the Agent as trustee for the Company for direct remittance to the Company. The Agent will not hold any funds and will not retain any commissions. If the Agent is delinquent in either accounting or payment of monies due, the Company may by written notice to the Agent, immediately terminate, suspend or modify any provision of the Contract.
PREMIUMS AND ACCOUNTING. 5.1 All premiums are to be paid directly to the Company. The Agent has no authority to alter, modify, waive or change any of the terms, rates or conditions of the Company’s Master Policy or certificates, to collect renewal premium, to extend time for payment of premium, or to endorse checks payable to the Company.
PREMIUMS AND ACCOUNTING. 5.1. Bollington Underwriting Limited acts as an agent for the Insurer for the purposes of receiving and holding premiums from the Clients and for receiving and holding premium refunds prior to transmission to Clients.
PREMIUMS AND ACCOUNTING. A. Partner Agent shall be responsible for collecting premiums, whether advance, deposit, developed, installment, audit, renewal, additional, or otherwise, on all policies other than direct-xxxx policies. Despite the foregoing, however, Company reserves the right, in its sole discretion, to communicate with, to directly collect premium from, and/or to cancel or non-renew policies of, its insureds. Except as otherwise provided in this Agreement and in the Collateral Management and Accounting Guideline of the Company Guidelines, Partner Agent shall be liable for and pay all earned premium to Company, with the exception that for premiums owed that have premium collateral held by the Company, Company shall exhaust the premium collateral held by the Company on any specific account prior to billing the Partner Agent for any owed premiums (“Applied Collateral”). Furthermore, if Partner Agent follows the collection procedures agreed to by the parties (see Section VI. I.), Company will assume direct collection of the owed premiums from the client.
PREMIUMS AND ACCOUNTING. 13. South Pointe guarantees payment of all monies due to the Company on Policies written under this Agreement, whether or not collected by South Pointe. The Company must specifically authorize in writing any flat cancellations of policies or coverage bound or issued.
PREMIUMS AND ACCOUNTING. A. PBC shall be liable for and shall pay to Old Lyme all Net Premiums attributable to the Policies, whether or not such premiums have been collected by PBC, less Commissions. "
PREMIUMS AND ACCOUNTING. The following provisions are applicable to all insurance placed by GENERAL AGENCY with COMPANY:
