Where Can I Get a Sample of a Upfront Release Letter?

Does it make any difference or complicate things if I am asking for an upfront release from a contract where I would be assigning commissions to the FMO ?

I would say no to it complicating things.

I would worry if I left that they would pay my renewals since they are assigned.

I never thought I would even consider assigning commissions but this a guy I know on a somewhat personal level who is a partner in the FMO. He is giving me an MGA contract without any production requirement because he wants me to recruit agents.

What is his reason for assigning commissions ?

I know some carriers require it.

If not required, I would say I'll recruit, but not asssigning commissions.
 
Does it make any difference or complicate things if I am asking for an upfront release from a contract where I would be assigning commissions to the FMO ? I never thought I would even consider assigning commissions but this a guy I know on a somewhat personal level who is a partner in the FMO. He is giving me an MGA contract without any production requirement because he wants me to recruit agents.

One friend is the pitcher and one friend is the catcher.
 
Wow I am a bit concerned reading this I am currently with a large known FMO that pays me instead of direct from carriers

I feel that the situation may not be working for me anymore
and have been thinking about changing FMO's

But if I can lose my residuals I would be ruined

I would hate to be trapped in this situation
they told me I would be vested day 1

and now they are not giving what they used to and no longer worth the lower commission
 
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Wow I am a bit concerned reading this I am currently with a large known FMO that pays me instead of direct from carriers

I feel that the situation may not be working for me anymore
and have been thinking about changing FMO's

But if I can lose my residuals I would be ruined

I would hate to be trapped in this situation
they told me I would be vested day 1

and now they are not giving what they used to and no longer worth the lower commission

Dust off that contract.

....... And read it.
 
Wow I am a bit concerned reading this I am currently with a large known FMO that pays me instead of direct from carriers

Who is the FMO ?

You can help yourself and a lot of other agents by sharing information on FMO's that don't treat agent right.

What products ?

they told me I would be vested day 1

Vested is different.

What you have done is assign your commission. Its all about what rights you have in the contract.
 
Who is the FMO ?

You can help yourself and a lot of other agents by sharing information on FMO's that don't treat agent right.

What products ?



Vested is different.

What you have done is assign your commission. Its all about what rights you have in the contract.

im goping have find the coitracts

I had done the when I was new and nieve in the business

I do remember however not seeing anything in the contacts one way or another
and asking about it that's when they said your vested day 1
now all I have is a word
 
I do remember however not seeing anything in the contacts one way or another
and asking about it that's when they said your vested day 1
now all I have is a word

When they change the subject and say you are vested day 1. that is to get the focus off the assigning commission.
 
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When they change the subject and say you are vested day 1. that is to get the focus off the assigning commission.

Its amazing to me that an agent would work so hard and then give up rights to his commission.

Assigning should be illegal, IMO.

I just found out through that grapevine about a few other agents that left
they are still getting there commissions

so not worried anymore
 
I just found out through that grapevine about a few other agents that left
they are still getting there commissions

so not worried anymore

You are probably fine,

Its just that I'd rather be paid from the carrier than an FMO. Especially when the renewals can go for years. FMO's change, split, staff turnover, etc.,
 
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