WillieGood
New Member
- 10
Contracting ques: advancing on settle and advancing on issue, what's diff & which is paid sooner?
Contracting ques: advancing on settle and advancing on issue, what's diff & which is paid sooner?
- Thread starter WillieGood
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- 29,541
Advancing on settle?
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WillieGood
New Member
- 10
yeah, options are advance on settle, or advance on issue.Advancing on settle?
- 29,541
I've never heard the term settle when talking about commissions. Do you mean advance on submission?
Issue is when the policy issues, settle is when it's paid.
Advance on settle. If you advance on issue and you end up with a client not accepting the policy, that's a chargeback.
Advance on settle. If you advance on issue and you end up with a client not accepting the policy, that's a chargeback.
- 25,077
That
I will add that depending on the company Settled could also include requirements such as amendments and maybe the delivery receipt.
- 29,541
Seems like I was contracted with a company that didn't pay commissions before you turned in the delivery slip.
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