Question: What Is An Override Fee?

A commission paid to an agent or broker on business sold by subagents in his or her territory.

This term can also refer to an amount paid to a ceding company in addition to the acquisition cost to compensate for overhead expenses.

What does it mean to override something?

override. You can override or reject a decision if you’re more powerful than the person who originally made the decision. And Congress has the power to override or nullify the Presidential veto if they have a two-thirds vote. The word override can be used in a number of contexts.

What is an override agreement?

Override Agreement Form. A full-term Contract is defined as a Vehicle Service Contract, hereafter defined as “VSC,” that has a minimum term of 12 months and 17,000 miles. The override amount will be defined in Section 5 of the Agreement.

What is override commission in travel industry?

override, override commission. An additional commission percentage paid when a certain volume level is achieved. The Intrepid Traveler.

What is overriding commission in reinsurance?

Overriding Commission. A fee or percentage of money which is paid to a party responsible for placing a retrocession of reinsurance. In insurance, a fee or percentage of money which is paid by the insurer to an agent or general agent for premium volume produced by other agents in a given geographic territory.

What is overriding effect?

When does the ‘overriding effect’ operate. Section 34 of the DRT Act, 1993 (short for ‘Recovery Of Debts Due To Banks and Financial Institutions Act, 1993’) provides that “the Act to have overriding effect”.

What’s the past tense of override?

Override is formed from the irregular verb ride. The Principal Parts of ride are ride, rode, ridden. That means the PPs of override are override, overrode, overridden.

What is an override on sales commission?

1. Commission received by a sales manager (or the upline in network marketing) on the sales made by sales persons (or the downline in network marketing) working under him or her. Fee paid by a seller to a broker in case the broker deals directly with a buyer.

What is override C#?

Override, in C#, is a keyword used to replace a virtual member that is defined in a base class with the definition of that member in the derived class. It can be used with a method, property, indexer or an event that needs to be modified or extended in a derived class.

What does @override mean in Android?

It’s a Java annotation that tells the compiler that the method is overriding a method from the superclass. @Override annotation is to explicitly declare method overriding. Its a Java annotation not Android-specific. Example : Say in Android MainActivity(sub) class is inherited from AppCompactActivity (super) class .

What are the different types of commission?

The Different Types of Sales Commission

  • Gross Profit. Glow Images, Inc / Getty Images.
  • Revenue Commission. Another common form of commissions is revenue commission.
  • Placement Fees. Found most often in auto sales, placement fees give a set amount for each unit sold.
  • Revenue Gates.
  • Understanding Your Commission Plan.

What is ceded commission?

Reinsurance ceded is the portion of risk that a primary insurer passes to a reinsurer. The accepting company pays a commission to the ceding company on the reinsurance ceded, and the ceding company can recover part of any claim from the accepting company.

What are ceded premiums?

Ceded Premiums means all premiums (including policy fees), considerations, deposits and other similar amounts actually received by the Cedant in respect of the Reinsured Policies, net of the amount deemed payable in respect of Current Third Party Reinsurance Premiums.

What does override mean in politics?

override of a veto – The process by which each chamber of Congress votes on a bill vetoed by the President. To pass a bill over the president’s objections requires a two-thirds vote in each Chamber. Historically, Congress has overridden fewer than ten percent of all presidential vetoes.

How do you use override in a sentence?

Override Sentence Examples

  1. A two-thirds majority in each house is necessary to override a veto.
  2. Any bill or any item or items of any bill which has passed both houses may be vetoed by the governor, and to override a veto a two-thirds vote of the members present in each house is required.

Is it overwrite or override?

“Override” is the cancellation of some previous action or decision. “Overwrite” specifically refers to something being written over something previously written. In other words, actions and decisions are overriden.

What does the @override annotation do?

@Override @Override annotation informs the compiler that the element is meant to override an element declared in a superclass. Overriding methods will be discussed in Interfaces and Inheritance. While it is not required to use this annotation when overriding a method, it helps to prevent errors.

What is overriding in Java?

Overriding in Java. In any object-oriented programming language, Overriding is a feature that allows a subclass or child class to provide a specific implementation of a method that is already provided by one of its super-classes or parent classes.