Common use of Payment Timeframe Clause in Contracts

Payment Timeframe. Company has primary responsibility to verify accuracy of the commission files and/or statements from carriers. Affiliate will have log-in access to Company’s CRM system to review the commission information. Affiliate also has the right upon 10 days written notice, to audit Company’s records relating to its commission tracking on those clients sourced from Affiliate. Affiliate’s expenses for conducting an audit will be borne by Affiliate unless a violation or error is discovered during the audit that exceeds $2,000, at which point Company will be responsible for all audit expenses.