2 Commission Calculation
The process of defining parameters that determine the method of commission calculation and collection for a contract is spread over the following four screens:
- The Rule Definition screen
- The Product ICCF screen
- The Product Preferences screen
- The Contract ICCF screen
For details regarding the definition of commission rules and their application on a contract, refer the chapter on processing commissions in this Commissions User Manual.
This chapter explains the manner in which the various commission parameters affect its calculation. As commissions are applied most frequently on Letter of Credit (LC) contracts, the following discussion and examples will assume that we are dealing with a LC contract. However, the methods are applicable to other types of contracts as well.
The methods of commission calculation and commission collection are discussed in the following sections.
This chapter contains the following sections: