Common use of COMPENSATION AND COSTS Clause in Contracts

COMPENSATION AND COSTS. The standards set forth in Section II, above, are expressly applicable to all matters pertaining to compensation and costs under this Agreement. Each Party shall pay to the other Party the fair and reasonable charge or fee for such services, which shall be based upon actual costs allocated on pertinent and applicable units of activities, including but not limited to policies issued, policies in force, policies underwritten, and other applicable and documented units of service and activity. The specifics shall from time to time be agreed upon and appropriately documented by the Parties. One Party may pay consolidated bills, which will be allocated to all applicable Parties. The Parties shall submit within thirty (30) days of the end of each calendar month to each other as applicable and appropriate, a written statement of the amount estimated to be owned by the other Party for services and the use of facilities pursuant to this Agreement in the calendar month, and such Party shall pay such billing within thirty (30) days following receipt of such written statement the amount set forth in the statement. Any expenses incurred and payment received shall be allocated in conformity with customary insurance accounting practices consistently applied. Save and except for the costs of services to be paid by the Parties to each other as agreed upon herein, each Party shall pay all of its own respective personnel and other costs and expenses of all types necessary or appropriate to render the management, administrative, and other services, advice, and accommodations provided for by this Agreement. More specifically, the legally responsible Party shall either pay directly or reimburse as appropriate all of its own costs for the following: