Underwriter payable - broker remitted taxes

A tax that is Underwriter Payable, Broker Remitted is a tax amount that is apportioned into the premium. 

The broker involved does not charge this tax to the insured (i.e. client). This amount will appear on the Broker Premium Invoice as an amount that is deducted from the total premium payable by the Broker to the Underwriter. 

The Broker is responsible to account for and remit the tax collected to the appropriate authority. 

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.