LETTER OF AGREEMENT FOR SERVICES
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SERVICE
The purpose of the service is to identify potential errors or adjustments resulting in premium refunds, credits and/or reduced premiums (for the current policy period) and have them applied by your carrier(s). Client agrees to submit findings to Carrier and or Appropriate Rating Authority or contact ABC in writing, within 10 days receipt of aforementioned report and to provide all written communication, audits and billings for all affected policy periods. ABC will review your Workers Comp policy annually unless declined in writing 30-days before annual policy review.
The purpose of the service is to identify potential errors or adjustments resulting in premium refunds, credits and/or reduced premiums (for the current policy period) and have them applied by your carrier(s). Client agrees to submit findings to Carrier and or Appropriate Rating Authority or contact ABC in writing, within 10 days receipt of aforementioned report and to provide all written communication, audits and billings for all affected policy periods. ABC will review your Workers Comp policy annually unless declined in writing 30-days before annual policy review.
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FEE
Our fee is fifty percent (50%) of the REFUNDS, CREDITS and/or PREMIUM REDUCTIONS, INCLUDING PREMIUM RECOVERY RESULTING FROM A LOWER WORKERS COMP MOD RATE DUE TO OUR WORK (current policy period or unaudited closed policy only) attributable to its efforts for all applicable policy periods.
Your payment to ABC is due only after receipt of refund, credit, or confirmation of premium reduction. NO SAVINGS MEANS NO FEE. Payments to us are due within 48 hours upon your receipt of payment from insurance carrier.
All collections and/or legal fees incurred as a result of clientā€™s non-payment will be added to the outstanding balance with past due amounts accruing interest at 18% per annum or client's state maximum interest rate.
ABC shall preserve the confidentiality of all information and data provided under the terms of this Agreement.
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Sincerely,
Randall Turner, MBA President
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Accepted by:
Signature:______________________
Title:_____________________________
Date:____________________________
# of Locations____ # of Employees_____
Type of Business___________________