What is 'commission reduction'?
This is the amount of your commission you elect to concede, if any. This amount is netted out of the premium and not payable by the Insured. You have the option to apply a Commission Reduction for any Quoted risk from under the Commissions and Taxes tab of the risk file.
Confirm commissions and taxes prior to binding or sending the quote to your client. The commissions and taxes you commit to upon binding should not be changed under any amendments to the bound risk.
For example:
| Gross premium hereon: | $ 1,000.00 |
| Gross commission percentage: | 20% |
| Commission reduction percentage: | 5% |
| Net commission percentage: | 15% |
| Net premium before tax: | $ 950.00 |
| Disclaimer! The Knowledge Centre covers all features of the Glide platform. Some details in this article may not be applicable to your version of Glide. |