9 Commission levels?

[Newby]

Signed release form is useless.. The IMO can always retract it..

A pre-signed release is worthless like you said. But an IMO spelling out their release terms is useful for an agent.

People say unconditional release pretty often. But honestly I and I have to assume most IMOs do have conditions. The main one being that the agent has no current debts (meaning chargeback debt not normal advances) when we release him. I also require that the new IMO sign accepting responsibility for and new debts the roll up from the day of the release forward.

That's important because occasionally an agent will go flip all his business he wrote under one IMO to a different company when he changes to a new IMO. Those kind of guys don't last long in the biz but they make a big splash on the way out.

 

[rousemark]

A pre-signed release is worthless like you said. But an IMO spelling out their release terms is useful for an agent.

People say unconditional release pretty often. But honestly I and I have to assume most IMOs do have conditions. The main one being that the agent has no current debts (meaning chargeback debt not normal advances) when we release him. I also require that the new IMO sign accepting responsibility for and new debts the roll up from the day of the release forward.

That's important because occasionally an agent will go flip all his business he wrote under one IMO to a different company when he changes to a new IMO. Those kind of guys don't last long in the biz but they make a big splash on the way out.

My point is that just a verbal agreement on release should suffice if you are dealing with someone true to their word. If the person is a liar, the signed release will do no good...