Common use of Payment of Membership Fees Clause in Contracts

Payment of Membership Fees. Producer guarantees the payment to CAREINGTON of all membership fees on Benefits Plans placed by Producer through CAREINGTON. Such payment is due and shall be paid to CAREINGTON by Producer in accordance with payment terms established from time to time by CAREINGTON and is due and payable whether or not Producer has collected the applicable fees, except in the case where such fees have been remitted directly to CAREINGTON. Producer shall be liable for and shall pay return commissions at the same rate as originally credited to Producer for all return fee adjustments or cancellations made at the option of CAREINGTON, the Member or otherwise. Producer assumes the credit risk of advancing membership fees to CAREINGTON before collecting membership fees from a Member. Producer shall perform this guarantee upon demand of CAREINGTON at any time with respect to any uncollected fees or unpaid return fees then outstanding. Producer acknowledges that CAREINGTON, without limitation of other remedies, reserves the right to cancel Benefits Plans for non-payment of membership fees to CAREINGTON.

Payment of Membership Fees. Producer guarantees the payment to CAREINGTON of all membership fees on Benefits Discount Plans placed by Producer through CAREINGTON. Such payment is due and shall be paid to CAREINGTON by Producer in accordance with payment terms established from time to time by CAREINGTON and is due and payable whether or not Producer has collected the applicable fees, except in the case where such fees have been remitted directly to CAREINGTON. Producer shall be liable for and shall pay return commissions at the same rate as originally credited to Producer for all return fee adjustments or cancellations made at the option of CAREINGTON, the Member or otherwise. Producer assumes the credit risk of advancing membership fees to CAREINGTON before collecting membership fees from a Member. Producer shall perform this guarantee upon demand of CAREINGTON at any time with respect to any uncollected fees or unpaid return fees then outstanding. Producer acknowledges that CAREINGTON, without limitation of other remedies, reserves the right to cancel Benefits Discount Plans for non-payment of membership fees to CAREINGTON.