What Is A Profit Share Agreement

We recommend that the Agency receive a share of the profits (if otherwise eligible) for the year of termination and the following year. Agencies typically keep loss logs to verify the agency`s loss experience and verify the accuracy of business deductions for losses under the profit-sharing agreement. The company must provide a detailed list of the losses invoiced, as the information is crucial for the agency to reconcile its profit-sharing commission and determine its loss ratio for the year. PROFIT SHARING. In exchange for the tasks performed under this Agreement, the Agent shall be entitled to [PERCENTAGE] of the profits made for the sale of the Product, which are the direct result of the Agent`s efforts.

Comments are closed.

Post Navigation