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12-15-2016, 12:22 PM #1
you pay whover the ISO agreement is with whoever you paid for the original deal.. If you pay anyone else you would be in breach of the ISO agreement
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
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12-15-2016, 12:24 PM #2
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 187
David Obstfeld
Chief Executive Officer
SOS Capital
1330 Ave of the Americas, NY, NY 10019
212-235-5455
SOSCapital.com
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12-16-2016, 03:14 PM #3jotucker1983Guest
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?Last edited by jotucker1983; 12-16-2016 at 03:18 PM.
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12-19-2016, 08:47 AM #4
- Join Date
- Nov 2014
- Location
- NYC
- Posts
- 187
David Obstfeld
Chief Executive Officer
SOS Capital
1330 Ave of the Americas, NY, NY 10019
212-235-5455
SOSCapital.com
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