Commission Chargeback definition

Commission Chargeback. In the event that a contract for which a commission has been paid is surrendered by the contract owner, is lapsed or returned pursuant to the so-called "right of return period" provision of the contract, the following percentage of commission will be due to Sun Life of Canada (U.S.) from all entities which received commissions. Chargeback Schedule Month Percentage 1-6 100 7-12 50
Sample 1Sample 2
Commission Chargeback. In the event that a policy for which a commission has been paid is surrendered by the policy owner, or is lapsed or returned pursuant to the so-called "right of return" provision of the policy, the following percentage of commission will be due and Sun Life of Canada(U.S.) shall be entitled to collect such amount from all entities which received commissions, including by set off of future commissions CHARGEBACK SCHEDULE ------------------- MONTH PERCENTAGE ----- ----------
Sample 1

Examples of Commission Chargeback in a sentence

  • They are subject to the terms and conditions of the Agreement, including, but not limited to, the Commission Chargeback Provision.

  • Broker/Dealer and each Agency agrees to repay Insurer within thirty (30) business days of notice of the request for such refund, any compensation amounts charged back to the Broker/Dealer or Agency by Insurer under the terms of the Commission Chargeback Provision of Schedule B Commission Schedules: Terms and Conditions and any amended commission schedules for Contracts solicited by a Producer, or former Producer, of Broker/Dealer.

  • Commission Chargeback - In the case of a contract termination during the right to examine provision, a 100% chargeback applies.

  • Should the periodic premium amount used to establish the commission payable for that Policy not be received on a premium due date, a chargeback equal to a percentage of annualized first year commission credited on the Policy will be Debited at the rate set out in the table below, and not at the rate set out in the First Year Commission Chargeback on Life and Health Policies table above.

  • Don’t get me wrong, there have been some difficult situations that I’ve had to deal with and I’ve had my share of uncomfortable conversations.

  • Commission Chargeback - A chargeback of 100% of commissions will be made against the Agent of record at the time of full surrender occurring within the first six months and a 50% commission chargeback in months 7 through 12 of the guarantee period.

  • Commission Chargeback on Personal Investment Portfolio and Guaranteed Interest Account1.

  • Chargeback Schedule First Year Commission Chargeback on Life and Health PoliciesShould the periodic premium amount used to establish the commission payable for that Policy not be received on a premium due date, a chargeback equal to a percentage of annualized first year commission credited on the Policy will be Debited at the rate set out in the table below.

  • In the event of the surrender of an annuity within six months of the payment date, there will be a charge- back of commissions paid with respect to premiums received in accordance with the following schedule: Time Elapsed Since Payment Date Commission Chargeback 0-3 months 100% Over 3 months to 6 months 50% Over 6 months 0% Chargebacks will be assessed in their entirety against the Authorized Selling Firms.

  • Fund Commission Chargeback A commission chargeback will apply if Dollar-Cost Averaging information is not provided within 90 days of the deposit into the Manulife DCA Advantage Fund.

Related to Commission Chargeback

  • Chargeback means the procedure by which a Sales Draft (or disputed portion thereof) is returned to Bank by a Card Issuer because such item does not comply with the applicable Card plan's operating regulations.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Chargebacks means all credits, chargebacks, reimbursements, administrative fees and other financial obligations to wholesalers and other distributors, group purchasing organizations, insurers, Governmental Entity and other institutions related to the Product.

  • Connection Charge is the sum payable by the Communications Provider in accordance with the Openreach Price List for provisioning of the Service;

  • transaction charge means any amount charged to a client by a registered firm in respect of a purchase or sale of a security and includes any federal, provincial or territorial sales taxes paid on that amount;

  • Administration Charge means a charge established in accordance with Chapter 90.50A RCW and Chapter 173-98 WAC, to be used to pay Ecology’s cost to administer the State Revolving Fund by placing a percentage of the interest earned in an Administrative Charge Account.

  • Transmission Charges means the charges payable to TSP by Long Term Transmission Customer(s) pursuant to the TSA, as adopted by the Appropriate Commission;

  • Termination Charges means any compensatory charges payable by the Customer to BT on termination of this Agreement in whole or in part or a Service as set out in a Schedule or Order. “Transaction Taxes” mean VAT, GST, sales, consumption, use or other similar taxes, customs duties, excise taxes, and regulatory and other fees or surcharges relating to the provision of a Service. “UK GDPR” means the GDPR as applicable as part of UK domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 and as amended by the Data Protection, Privacy and Electronic Communications (Amendments etc) (EU Exit) Regulations 2019 (as amended), as amended or replaced. “User” means any person who is permitted by the Customer to use or access a Service.

  • Transition charge means a nonbypassable rate or charge to be imposed on a customer to pay

  • Track Charges means the charges payable by or on behalf of the Train Operator to Network Rail, as set out in paragraph 1 of Part 2 of Schedule 7 or under the Traction Electricity Rules;

  • Bond Service Charges means, for any period or payable at any time, the principal of, premium, if any, and interest on the Bonds for that period or payable at that time whether due at maturity or upon redemption, Mandatory Tender or acceleration.

  • CCAA Charges means the Administration Charge and the Directors’ Charge;

  • Monthly Charges means a finance carrying charge of **** and a storage and handling charge of ****, in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Utility Charges means water, sewer, electricity, gas and other utility charges, if any, applicable to the Real Property or the Leased Real Property;

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located;

  • Resource Substitution Charge means a charge assessed on Capacity Market Buyers in an Incremental Auction to recover the cost of replacement Capacity Resources.

  • Tariff means a filing made at the state or federal level for the provision of a telecommunications service by a telecommunications carrier that provides for the terms, conditions and pricing of that service. Such filing may be required or voluntary and may or may not be specifically approved by the Commission or FCC.

  • Excess Penalty Charges With respect to any Serviced Loan and any Collection Period, the sum of (A) the excess of (i) any and all Penalty Charges collected in respect of such Serviced Loan during such Collection Period, over (ii) all unpaid or unreimbursed Advances and Additional Trust Fund Expenses (including, without limitation, interest on Advances to the extent not otherwise paid or reimbursed by the related Mortgagor, but excluding Special Servicing Fees, Workout Fees and Liquidation Fees) outstanding or previously incurred on behalf of the Trust (and, if applicable, the related Serviced Companion Loan Holder) with respect to such Serviced Loan and reimbursed from such Penalty Charges (which such Advances and Additional Trust Fund Expenses shall be reimbursed from such Penalty Charges) in accordance with Section 3.14 of this Agreement and (B) Advances and expenses previously paid or reimbursed from Penalty Charges as described in the immediately preceding clause (A), which Advances and expenses have been recovered from the related Mortgagor or otherwise.

  • Medicare Levy Surcharge means an extra charge payable by high income earners beyond the standard Medicare Levy if they do not have qualifying private hospital insurance coverage. This charge is assessed as part of an individual or family’s annual tax return.

  • Ceding Commission shall have the meaning specified in Section 5.2.

  • Termination Charge means a charge levied when an unamortized balance remains and the Jurisdiction requests termination of Street Lighting Service. The charge is determined by costs of equipment, installation, removal, disposal, Capital Recovery Period, and Utility Financing Cost minus payments made to date for the specific fixtures.

  • Installation Charges means those Charges set out in the Order in relation to installation of the Service and/or any Purchased Equipment, Customer Equipment and/or BT Equipment as applicable.

  • Nuclear Regulatory Commission (NRC) means the U.S. Nuclear Regulatory Commission or its duly authorized representatives.

  • Monthly Charge shall have the meaning set forth in Article 5.

  • Selling Commission means three percent (3%) of the gross proceeds of Shares sold pursuant to this Agreement, or as otherwise agreed between the Company and the Agent with respect to any Shares sold pursuant to this Agreement.

  • Medicare cost report means CMS-2552-10, the cost report for electronic filing of