Commission Chargeback definition

Commission Chargeback. In the event that a contract for which a commission has been paid is surrendered by the contract owner, is lapsed or returned pursuant to the so-called "right of return period" provision of the contract, the following percentage of commission will be due to Sun Life of Canada (U.S.) from all entities which received commissions.
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Commission Chargeback. In the event that a policy for which a commission has been paid is surrendered by the policy owner, or is lapsed or returned pursuant to the so-called "right of return" provision of the policy, the following percentage of commission will be due and Sun Life of Canada(U.S.) shall be entitled to collect such amount from all entities which received commissions, including by set off of future commissions CHARGEBACK SCHEDULE ------------------- MONTH PERCENTAGE ----- ----------
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Examples of Commission Chargeback in a sentence

  • Broker/Dealer and each Agency agrees to repay Insurer within thirty (30) business days of notice of the request for such refund, any compensation amounts charged back to the Broker/Dealer or Agency by Insurer under the terms of the Commission Chargeback Provision of Schedule B Commission Schedules: Terms and Conditions and any amended commission schedules for Contracts solicited by a Producer, or former Producer, of Broker/Dealer.

  • They are subject to the terms and conditions of the Agreement, including, but not limited to, the Commission Chargeback Provision.

  • The First Year Commission Chargeback on Life and Health Policies provision above does not apply to terminated Producer or Producer related Equimax Wealth Accumulator and Equimax Estate Builder policies.

  • Should the periodic premium amount used to establish the commission payable for that Policy not be received on a premium due date, a chargeback equal to a percentage of annualized first year commission credited on the Policy will be Debited at the rate set out in the table below, and not at the rate set out in the First Year Commission Chargeback on Life and Health Policies table above.

  • In the event of the surrender of an annuity within six months of the payment date, there will be a charge- back of commissions paid with respect to premiums received in accordance with the following schedule: Time Elapsed Since Payment Date Commission Chargeback 0-3 months 100% Over 3 months to 6 months 50% Over 6 months 0% Chargebacks will be assessed in their entirety against the Authorized Selling Firms.

  • Should the periodic premium amount used to establish the commission payable for that Policy not be received on a premium due date, a chargeback eq ual to a percentage of annualized first year commission credited on the Policy will be Debited at the rate set out in the table below, and not at the rate set out in the First Year Commission Chargeback on Life and Health Policies table above.

  • Policy Terminates During MonthPercentage of First Year Commission Charged back and Debited1 to 6 First Year Commission Chargeback on Equimax Wealth Accumulator PoliciesThis first year commission chargeback provision applies to all Equimax Wealth Accumulator policies with an effective date of February, 10, 2020 or later that do not qualify as Producer or Producer related policies.

  • The First Year Commission Chargeback on Life and Health Policies provision above does not apply to terminated Equimax Wealth Accumulator policies or to terminated Producer or Producer related Equimax Wealth Accumulator policies.

  • Policy Year Commission Chargeback 1 10% of first year premium up to target 2 6% of second year premium up to target 3 3% of third year premium up to target 4+ 0% If a premium payment for which a commission has been paid is refunded by ING Security Life, a reimbursement of the commission paid on the amount refunded will be due from the Selling Broker-Dealer.

  • ISSUE AGES TO 75: Time Elapsed Since Payment Date Commission Chargeback 0-3 months 100% 4-6 months 50% Thereafter 0% ISSUE AGES 76-80: Time Elapsed Since Payment Date Commission Chargeback 0-6 months 100% 7-12 months 50% Thereafter 0% ISSUE AGES 81-85: Time Elapsed Since Payment Date Commission Chargeback 0-3 months 100% 4-6 months 50% Thereafter 0% Addendum B to Exhibit A: Products, Territory and Commissions (continued) The chargeback will be waived in the event of the death of the annuitant or owner.

Related to Commission Chargeback

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Connection Charge is the sum payable by the Communications Provider in accordance with the Openreach Price List for provisioning of the Service;

  • transaction charge means any amount charged to a client by a registered firm in respect of a purchase or sale of a security and includes any federal, provincial or territorial sales taxes paid on that amount;

  • Administration Charge means a charge established in accordance with Chapter 90.50A RCW and Chapter 173-98 WAC, to be used to pay Ecology’s cost to administer the State Revolving Fund by placing a percentage of the interest earned in an Administrative Charge Account.

  • Transmission Charges means the charges payable to TSP by Long Term Transmission Customer(s) pursuant to the TSA, as adopted by the Appropriate Commission;

  • Termination Charges means any compensatory charges payable by the Customer to BT on termination of this Agreement in whole or in part or a Service as set out in a Schedule or Order.

  • Transition charge means a nonbypassable rate or charge to be imposed on a customer to pay the customer's share of transition costs.

  • Track Charges means the charges payable by or on behalf of the Train Operator to Network Rail, as set out in paragraph 1 of Part 2 of Schedule 7 or under the Traction Electricity Rules;

  • Bond Service Charges means principal, including mandatory sinking fund requirements for retirement of obligations, and interest, and redemption premium, if any, required to be paid by the authority on obligations.

  • Electricity Charges means service charges in respect of the provision of electricity.

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Utility Charges means water, sewer, electricity, gas and other utility charges, if any, applicable to the Real Property or the Leased Real Property;

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located.

  • Resource Substitution Charge means a charge assessed on Capacity Market Buyers in an Incremental Auction to recover the cost of replacement Capacity Resources.

  • Government Charges means all charges or duties on deposits into, or withdrawals from your account that are payable under a law of the Commonwealth or any State or Territory or any other jurisdiction whether or not you are primarily liable to pay these charges.

  • Excess Penalty Charges With respect to any Serviced Loan and any Collection Period, the sum of (A) the excess of (i) any and all Penalty Charges collected in respect of such Serviced Loan during such Collection Period, over (ii) all unpaid or unreimbursed Advances and Additional Trust Fund Expenses (including, without limitation, interest on Advances to the extent not otherwise paid or reimbursed by the related Mortgagor, but excluding Special Servicing Fees, Workout Fees and Liquidation Fees) outstanding or previously incurred on behalf of the Trust (and, if applicable, the related Serviced Companion Loan Holder) with respect to such Serviced Loan and reimbursed from such Penalty Charges (which such Advances and Additional Trust Fund Expenses shall be reimbursed from such Penalty Charges) in accordance with Section 3.14 of this Agreement and (B) Advances and expenses previously paid or reimbursed from Penalty Charges as described in the immediately preceding clause (A), which Advances and expenses have been recovered from the related Mortgagor or otherwise.

  • Medicare Levy Surcharge means an extra charge payable by high income earners beyond the standard Medicare Levy if they do not have qualifying private hospital insurance coverage. This charge is assessed as part of an individual or family’s annual tax return.

  • Termination Charge means a charge levied when an unamortized balance remains and the Jurisdiction requests termination of Street Lighting Service. The charge is determined by costs of equipment, installation, removal, disposal, Capital Recovery Period, and Utility Financing Cost minus payments made to date for the specific fixtures.

  • Installation Charges means those Charges set out in the Order in relation to installation of the Service and/or any Purchased Equipment, Customer Equipment and/or BT Equipment as applicable.

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Medicare cost report means CMS-2552-10, the cost report for electronic filing of

  • Rechargeable Electrical Energy Storage System (REESS) means the rechargeable energy storage system that provides electric energy for electrical propulsion.

  • distribution system operator means a natural or legal person responsible for operating, ensuring the maintenance of and, if necessary, developing the distribution system in a given area and, where applicable, its interconnections with other systems and for ensuring the long-term ability of the system to meet reasonable demands for the distribution of electricity;

  • NERC Interchange Distribution Calculator means the NERC mechanism that is in effect and being used to calculate the distribution of energy, over specific transmission interfaces, from energy transactions.

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • CAISO Revenues means the credits, fees, payments, revenues, interest or similar benefits, including imbalance energy payments, that are directly assigned by the CAISO to the CAISO Global Resource ID for the Generating Facility for, or attributable to, Scheduling or deliveries from the Generating Facility under this Agreement.