The agents submits to the insurance entity a statement of all policies issued or due during the current month, and the net amount of the statement is subsequently to be paid in accordance with the agency agreement, is a account current of:

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This scenario describes an account current on a rendering basis, where the agent provides a monthly statement of all policies issued or due, and is subsequently paid based on the net amount of the statement in accordance with the agency agreement. This is different from insurance billing, where the insurance entity bills the customer directly, or direct billing, where the agent bills the customer directly. It is also not described as a billing basis, where payments are made as policies are issued or premiums are collected.

The Agents Submits to the Insurance Entity a Statement of All