Creating and Editing Commission Rates

Overview of Commission Rates

The Commission Rates screen of the Reference Tables menu allows the bond administrator to define and maintain the commission rates calculated against the bond's premium.
Tinubu Surety Solution for Carriers (TSC) allows the user to define both single and multiple-tier commission rates.
A commission rate can consist of a single tier. For example, a commission rate could simply be 25% for all premiums on the bond.
- A commission rate can also consist of multiple tiers. For example, a commission rate might define the commission structure for the first $500,000 in penalty to use a 30% commission rate, the second $200,000 to use a rate of 20%, and anything more than $700,000 in penalty to use a 15% commission rate. The commission rate at each tier will be multiplied against the premium calculated for each tier, including any rate type modifier and/or rate factor configured for the account.
Please refer to the Tiered Commission Rates Examples guide for more information.

Select Reference Tables/Rates/Commission Rates.
Select the Create link at the bottom left of the screen o create a commission rate.

Add a name and description for the commission rate.
Click on the Submit button to save changes.
Click the Back to List button will return you to the Commission Rates screen.

Select the Edit link to the right of the rate you wish to edit.
Edit the information as desired.
Click on the Submit button to save changes.
Click the Back to List button will return you to the Commission Rates screen.
When a Commission Rate is changed and how it will remain static for the Life Cycle of a Current Bond Term.
- When a bond is purchased, the commission rate set at the beginning of the bond’s term will not update with any changes made to the commission rate designation for that bond configuration and/or agency default commissions during additional actions on that bond term.
- The commission rate will update at the time of renewal to include any changes made to the commission rate designation.

Select the Recover Inactive Records link on the bottom left of the Commission Rates screen.
Click the Reactivate link on the commission rate you wish to reactivate.
You will be prompted to confirm or cancel your action.