W HAT ARE ADVANCES ?. A DVANCES ARE LOANS AGAINST THE FUTURE RENEWALS ON EACH CASE.

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Presentation transcript:

W HAT ARE ADVANCES ?

A DVANCES ARE LOANS AGAINST THE FUTURE RENEWALS ON EACH CASE

Does J L Smith Associates charge interest on outstanding advance balances?

Active agents, as defined by the terms of your contract, DO NOT get charged interest on outstanding account debit balances

A LTHOUGH … I N - ACTIVE AGENTS, AS DEFINED BY THE TERMS OF YOUR CONTRACT, DO GET CHARGED INTEREST ON OUTSTANDING ACCOUNT DEBIT BALANCES, EQUAL TO 1% PER MONTH.

D O I HAVE TO PAY MINIMUM MONTHLY PAYMENTS TOWARDS MY OUTSTANDING ACCOUNT DEBIT BALANCE ? Active agents, as defined by your contract, are not required to make payments toward their outstanding account debit balance… ALTHOUGH…. In-Active agents, as defined by your contract, agree to pay monthly payments in addition to their renewal credits, equal to 5% of the outstanding account debit balance. ACTIVE AGENTS:IN-ACTIVE AGENTS: