Premium Audit a. We will compute all premiums for this policy in accordance with our rules and rates.
Premium Audit. Unless negotiated elsewhere and/or stated in the policy(ies) at issue, Safehold may conduct an audit of the payroll, mileage, cost of hire or other variable(s) which are the basis of the policy premium for the relevant policy period. Based upon the results of such audit, the premium may be increased or decreased to correspond to the actual payroll, mileage, cost of hire or other variable(s) which are the basis of the policy premium (an “Audit Adjustment”). Safehold shall provide written notice of the results of any such audit and an invoice representing any premium adjustment due as a result of the Audit Adjustment (the “Audit Adjustment Notice”). The insured and/or insurance carrier shall notify Safehold in writing (an “Audit Dispute”) within fifteen (15) days following the billing date of an Audit Adjustment Notice if the insured disputes the results of any such audit. Such Audit Dispute should specify the basis of any such dispute together with evidence in support of the Audit Dispute. Any Audit Dispute not accompanied by such evidence shall not be considered by Safehold. Safehold shall issue its final determination of the results of an Audit Adjustment and any corresponding Audit Dispute within thirty (30) days following the date of the Audit Dispute and shall provide the insured with a final invoice (the “Final Premium Notice”) for any premium adjustment due as a result of the Audit Adjustment. All Additional Premium for the audit shall be payable fifteen (15) days after the billing date of the Final Premium Notice. The producing retailer may return any final premium audit within thirty (30) days of the billing date as uncollectible as long as the producing retailer can provide evidence and documentation of collection efforts. Otherwise, the producing retailer shall be responsible for payment of any audit additional premium. No retailer commission shall be payable with respect to any uncollected audit premium.
Premium Audit. With respect to any special policies or additional limits procured as a result of the Agreement, Contractor herby grants permission to Owner, or Owner’s representative, to audit any request for premium reimbursement including permission for Owner to contact and receive its broker’s certification.
Premium Audit a. We will compute all premiums for this Policy in accordance with our rules and rates.
Premium Audit a. We will compute all premiums for this Cove rage Part in accordance with our rules and rates.
Premium Audit a. The Insurer will calculate the premium for this insurance in accordance with the Insurer’s rules and rates.
Premium Audit. 1. You must keep records of the information we need for premium computation, and send us copies at such times as we may request.
Premium Audit. We will compute all premiums for this policy in accordance with our rules and rates. Premium shown in the declarations is a deposit premium only. At the close of each audit period we will compute the earned premium for that period. If the sum of the deposit and audit premiums is greater than the deposit premium, we will bill the first Named Insured for the additional premium. If the audited premium is less than the deposit premium, we will return the difference in premiums to the first Named Insured. However, any return audit premium will be limited to no more than ten per cent of the deposit premium. Audit premiums are due and payable on notice to the first Named Insured. The first Named Insured must keep records of the information we need for premium computation, and send us copies at such time as we may request.
Premium Audit. This clause is applicable only when Premium Audit Adjustment terms are shown in the Declarations Page.
Premium Audit. Company shall be responsible for processing an audit adjustment and providing ADP with an Audit Adjustment File on each Client Policyholder’s account following each policy term. ADP shall be responsible for impounding the undisputed audit premium from the Client Policyholder’s bank account and remitting it to Company, net of commission, in accordance with Section 9, except to the extent ADP provides a notice of insufficient funds in accordance with Section 4. Company agrees that it will be responsible for collection of audit premium if the Client Policyholder is not using ADP’s payroll and tax filing services at the time such premium is due. Company agrees to return any overpayment to ADP for proper return to Client Policyholder.
