Withholding Commission Sample Clauses
The Withholding Commission clause allows a party, typically an employer or principal, to retain or delay payment of commissions owed to another party, such as an agent or salesperson, under certain conditions. This clause may apply if there are outstanding obligations, disputes over sales, or concerns about returns or cancellations that could affect the final commission amount. By enabling the withholding of commission payments until specific criteria are met, the clause helps protect the paying party from overpayment or financial loss due to unresolved issues.
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Withholding Commission. (a) The Agent and the Directors acknowledge and agree that the Bank may withhold any payment of the Agent’s Commission in circumstances where the Bank reasonably believes that the Agent may be in, or may be about to be in, Agent Default or Material Breach under this Agreement.
(b) If the Bank reasonably determines that the Agent is in Agent Default or Material Breach under this Agreement and that the Bank may suffer loss, damage or costs as a (direct or indirect) result of that Agent Default or Material Breach, then, separately to its right of indemnity under clause 23 (“Indemnities”), the Bank may apply or set-off the whole or part of the Agent’s Commission against the likely amount of such loss, damage or costs.
Withholding Commission. The University may withhold Commission if claims against the University exceed Commission owed.