Agent Termination and Commissions?

[Captive]

Sorry, I have tried searching this forum as well as Google and havent been able to get a clear answer.

I was an agent for a brokerage and terminated. How long do they have to pay me out my commissions? What commissions will I get paid for?

I am referring to New Business commissions BTW, not renewals. This is for policies I sold a couple months before I was let go.

Cliffs: Worked at a brokerage, was let go 5 months in. I received my last salary check upon termination but was told I would get commissions within 3 months. Its now been 5 and I havent received anything. Just trying to figure out legally when I should be paid out by and what commissions or chargebacks I am liable for?

Thank you for any help I might get here!!

 

[axeman462]

I would check your contract

 

[Josh]

+1 on checking the contract.

Some other thoughts:

-Was your salary a draw?
-Sometimes you'll get an advance and as earned you may not have earned anything.
-Odds are everything is over and done with, but the contract is going to be your best reference.

What company was it? Have you spoken to them about it for further clarification?

 

[supersupps]

whAT HAPPEend with ur comm?

 

[Captive]

My contract only states the commissions that will be paid for new business - nothing about what happens in the event of termination. Salary was not a draw...

Im supposed to get a certain percentage of NB.

I am being told that I will receive a check monthly, as earned. How does that work for NB?

Sorry, I was captive all my career and built contract value so being paid out like this is very new to me!

I was let go in March and received a commission check a couple months ago for $15. I sold about $40,000 premium while I was there... so Im confused as to why its so low, but then again I dont know what 'as earned' means?

Thank you so much guys!

 

[hassy99]

My contract only states the commissions that will be paid for new business - nothing about what happens in the event of termination. Salary was not a draw...

Im supposed to get a certain percentage of NB.

I am being told that I will receive a check monthly, as earned. How does that work for NB?

Sorry, I was captive all my career and built contract value so being paid out like this is very new to me!

I was let go in March and received a commission check a couple months ago for $15. I sold about $40,000 premium while I was there... so Im confused as to why its so low, but then again I dont know what 'as earned' means?

Thank you so much guys!

Request an accounting this should show all earned commissions after your term date less any debts/charge backs etc. might even sit down with someone at the agency to review so that you can have an understanding how it works