Unearned Commissions. Producer shall be liable to Broker and shall pay return commission at the same rate as originally allowed to Producer for all return premium adjustments or cancellations, including return premium on cancellations ordered or made by the Insurer or finance company. Such return commission shall be paid to Broker by the due date indicated on the billing document. If a return premium becomes due under any contract of insurance and Broker has been issued a credit, or payment has been rendered, for such premium by Broker’s Insurer, Broker will pay to Producer such return premium less the unearned portion of any commission previously retained by the Producer.
Unearned Commissions. Broker shall be liable to American Specialty and shall pay return commission at the same rate as originally allowed to Broker for all return premium adjustments or cancellations, including return premium on cancellations ordered or made by the Insurer or finance company. Such return commission shall be paid to American Specialty by the due date indicated on the billing document. If a return premium becomes due under any contract of insurance and American Specialty has been issued a credit, or payment has been rendered, for such premium by American Specialty’s Insurer, American Specialty will pay to Broker such return premium less the unearned portion of any commission previously retained by Broker.
Unearned Commissions. PRODUCER shall be liable to JSA and shall pay return commissions at the same rate as originally allowed to PRODUCER for all return premiums. Such return commission shall be paid to JSA by the due date indicated on the billing document. If a return premium becomes due under any contract of insurance and JSA has been issued a credit, or payment has been rendered, for such premium by the Insurer, JSA will pay to PRODUCER such return premium less the unearned portion of any commission previously retained by the PRODUCER. PRODUCER shall be responsible for paying the returned premium to the INSURED.
Unearned Commissions. Producer agrees to utilize Producer's best efforts to assist the company in collecting additional premiums for audits on bound risks. Producer will be entitled to commissions on such additional premiums Producer has assisted in collecting. If the Producer fails to collect the additional premiums, the Company has the right to collect any additional audit premium due directly from the Insured and Producer will not be entitled to any commission on such additional premium collected by the Company. The Producer agrees to refund to the Company or to the Insured unearned commissions on all business placed with the Company on cancelled policies or reduced premiums at the same rate that such commissions were originally allowed the Producer. Such refund will be paid to Insured and paid by the due date indicated on the billing invoice.
Unearned Commissions. Producer shall be liable to Orchid and shall pay return commission at the same rate as originally allowed to Producer for all return premium adjustments or cancellations, including return premium on cancellations ordered or made by the Insurer or finance company. Such return commission shall be paid to Orchid by the due date indicated on the billing document. If a return premium becomes due under any contract of insurance and Orchid has been issued a credit, or payment has been rendered, for such premium by Orchid’s Insurer, Orchid will pay to Producer such return premium less the unearned portion of any commission previously retained by Producer.
Unearned Commissions. Agency will refund to Broker unearned commission on all business placed with Broker on canceled policies, or reduced premiums, at the same rate at which such commissions were originally allowed Agent. Such refund shall be applied to Broker and paid by the due date indicated on the billing invoice.
Unearned Commissions. If applicable, PRODUCER AGREES TO REFUND TO RISE unearned commissions on all business placed with RISE on cancelled policies, or reduced premiums, at the same rate at which commissions were originally allowed PRODUCER. Such refund shall be paid to RISE and paid by the due date indicated on the billing invoice.
Unearned Commissions. Manager shall promptly refund pro-rata to the Company Production and Administration Commissions (including commissions paid to sub-producers) on cancellations, refunds and return premiums. Alternatively, the Company and Manager, at the option of the Company, may make premium adjustments by debits of monies due Manager.
Unearned Commissions. PRODUCER AGREES TO REFUND TO ACES unearned commissions on all business placed with ACES on cancelled policies, or reduced premiums, at the same rate at which such commissions were originally allowed PRODUCER. Such refund shall be paid to ACES and paid by the due date indicated on the billing invoice.
Unearned Commissions. PRODUCER AGREES TO REFUND TO BIB unearned commissions on all business placed with BIB on cancelled policies, or reduced premium, at the same rate at which such commissions were originally allowed PRODUCER. Such refund shall be paid to BIB and paid by the due date indicated on the billing invoice.
