[soscap]

Does it state in your Broker/ISO Agreement that if the broker "shuts his shop down" that you are no longer going to pay him renewal compensation on active deals? That doesn't make any sense. I would see if the guy is completely gone and not even working the deals, but just because he shuts his shop down to do something else full-time, you are going to stop paying him on renewals?




So what?



The ethical thing is to pay the rep and not try to find "legal ways" to get out of paying.

Hey I'm just saying, you companies who keep trying to find ways to screw around with a man's renewal/reload compensation are only shooting yourselves in the foot.

This type of stuff just gets me ticked off because if you aren't paying guys a damn upfront base pay with benefits, then you should pay out commissions on renewals/reloads for the lifetime of the client like (most of you) state at the beginning of the relationship.

The new deal and renewal compensation are what independent, 100% commission, "we must pay for our own expenses", type of guys need in order to survive!

For example, do you know that some guys aren't even profitable until the renewal?

John, I think you misunderstood me. I'm not looking for ways not to pay out commissions, as I stated, my attorney advised me that I have no legal obligation to pay. However, I would like to pay and am not sure who to send funds to in this case...

[soscap]

Thank you all for the kind words!

[ridextreme]

maybe you should seek advice from a different attorney, because unless the broker formally ended the agreement with you or the payment bounced back, I don't know why they wouldn't be expecting renewal residuals just because they closed a brick and mortar office and let their staff go. Maybe the guy's working out of his house trying to regroup.