Common use of Unearned Commissions Clause in Contracts

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. Producer shall be liable to Broker Company and shall pay return commission commissions 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 companyFinance Company. Such return commission shall be paid to Broker Company by the due date indicated on the billing document. If a return premium becomes due under any contract of insurance and Broker Company has been issued a credit, or payment has been rendered, for such premium by BrokerCompany’s Insurer, Broker ; Company will pay to Producer such return premium less the unearned portion of any commission previously retained by the Producer.

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 BrokerXxxxxx’s Insurer, Broker will pay to Producer such return premium less the unearned portion of any commission previously retained by the Producer.

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 Insurerlnsurer, Broker will pay to Producer such return premium less the unearned portion of any commission previously retained by the Producer.

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 's Insurer, Broker will pay to Producer such return premium less the unearned portion of any commission previously retained by the Producer.