Freight payable at destination provided the vessel delivers the specified goods in reasonable condition.
Insurance Encyclopedia
Collecting Commission
Commission paid to a broker by the insured where the broker has collected a Marine insurance claim on his behalf.
Collecting Note
A document empowering a broker to collect a marine insurance claim on the insured’s behalf.
Collecting societies
Registered friendly societies which operate almost exclusively in the field of industrial life insurance.
Collection agency
Professional business service employed by a medical practice or hospital facility as an agent to pursue and attempt to collect unpaid or past-due accounts owed by a debtor that arose from an expressed or implied agreement. Generally, a collection agency is paid by receiving an agreed-upon percentage of the amount collected.
Collection Commission
Commission paid by an insurer to an agent for the collection of premiums.
Collection commission (Life Insurance)
A portion of the premiums gathered on debt insurance, paid to the agent who collected them.
Collection fee (Life Insurance)
A fee paid to an insurance agent for collecting policy premiums.
Collection ratio
Relationship between the amount of money owed and the amount of money collected in reference to the doctor’s accounts receivable.
Collection specialist
1. Individual who works with an insurance company to resolve billing and reimbursement problems. 2. Someone who works for a medical practice to bill and collect payments, solve billing problems, and help increase cash flow.