Common use of Producer’s Obligations Clause in Contracts

Producer’s Obligations. 1. Producer warrants it is a duly licensed Agent/Broker in all states desiring to submit to ZAS applications for insurance; 2. Producer is acting as Agent or Broker for the applicant and in the applicant’s behalf, not as agent of ▇▇▇. 3. Any premiums collected by the Producer on behalf of ZAS shall be collected and forwarded in full to ZAS in a fiduciary capacity without deduction for commission or other charges. 4. Producer specifically agrees that any extension of credit by the Producer to the Producer's client or any other person is solely at the Producer's risk. 5. No insurance contract may be returned to ZAS by the Producer for flat cancellation unless returned to and received by ZAS prior to the effective date of the contract, subject to applicable filing requirements. Earned premiums shall be computed and charged on every contract canceled after its effective date in accordance with the cancellation provisions of such contract. 6. Producer agrees to notify ▇▇▇ on a timely basis of any final audit premium that may be uncollectible, to activate the direct collection process by the carrier; 7. The Producer has no authority to assign any losses or adjust any losses on behalf of ZAS or its entities. All claims are to be reported to ZAS for assignment and handling, unless specifically directed otherwise. 8. If any account becomes delinquent, ZAS may, at its option, collect the premium from the Insured. The Producer shall not be entitled to any commission on those premiums so collected by ZAS from the Insured. 9. ▇▇▇ agrees to pay Producer commission as agreed to by account or carrier submission.

Producer’s Obligations. 1. Producer warrants it is a duly licensed Agent/Broker in all states desiring to submit to ZAS applications for insurance; 2. Producer is acting as Agent or Broker for the applicant and in the applicant’s behalf, not as agent of ▇▇▇ZAS. 3. Any premiums collected by the Producer on behalf of ZAS shall be collected and forwarded in full to ZAS in a fiduciary capacity without deduction for commission or other charges. 4. Producer specifically agrees that any extension of credit by the Producer to the Producer's client or any other person is solely at the Producer's risk. 5. No insurance contract may be returned to ZAS by the Producer for flat cancellation unless returned to and received by ZAS prior to the effective date of the contract, subject to applicable filing requirements. Earned premiums shall be computed and charged on every contract canceled after its effective date in accordance with the cancellation provisions of such contract. 6. Producer agrees to notify ▇▇▇ ZAS on a timely basis of any final audit premium that may be uncollectible, to activate the direct collection process by the carrier; 7. The Producer has no authority to assign any losses or adjust any losses on behalf of ZAS or its entities. All claims are to be reported to ZAS for assignment and handling, unless specifically directed otherwise. 8. If any account becomes delinquent, ZAS may, at its option, collect the premium from the Insured. The Producer shall not be entitled to any commission on those premiums so collected by ZAS from the Insured. 9. ▇▇▇ ZAS agrees to pay Producer commission as agreed to by account or carrier submission.