Commission as a Flat Amount

1.1.2.7 Commission as a Flat Amount

Defining the commission as a flat amount involves the specification of the following:

The flat amount (called the CCF amount for commission, charges of fees)
The currency in which the amount is expressed (specified in the Charge Ccy field)

Field	Description
Flat Commission Amount	If the commission is expressed in the form of a flat amount, you should specify the amount to be collected as commission.
Flat Amount Currency	If the Rate Type is expressed as a Flat Amount, you should also specify the currency in which the amount has to be applied. If it is not the same as the currency of the account from which the commission is paid, the amount will be converted at the rate specified for the product. This rate, as well as the amount defaulted, can be changed while processing the contract involving the rule. You can specify the currency of the flat amount in the Charge Currency (Ccy) field.

Field

Description

Flat Commission Amount

If the commission is expressed in the form of a flat amount, you should specify the amount to be collected as commission.

Flat Amount Currency

If the Rate Type is expressed as a Flat Amount, you should also specify the currency in which the amount has to be applied. If it is not the same as the currency of the account from which the commission is paid, the amount will be converted at the rate specified for the product. This rate, as well as the amount defaulted, can be changed while processing the contract involving the rule. You can specify the currency of the flat amount in the Charge Currency (Ccy) field.

Parent topic: Build the Commission Rule