IMO/FMO Comp Procedures

[jemelton]

I have a question and want to know if I have been baited and switched.

I have several contracts with an IMO and just got a new company onboard....all my comissions are paid directly from the company to me.

I was told that I was going to be put on a 100 level contract with both new companies.

However, when I get the comission statement from the new carrier, it only shows 90% on the product (RNA SIWL) that I sold (I'm sure you can get higher than that on that product).

Now they tell me that I will get 90% from the company and then the IMO is going to pay me the extra 10%.

I'm not very happy and think this is B.S. Is this B.S.? SHould I bet mad, should I switch IMO/FMOs?

 

[Todd King]

Looks like BS to me!!

 

[Frank Stastny]

I have a question and want to know if I have been baited and switched.

I have several contracts with an IMO and just got a new company onboard....all my comissions are paid directly from the company to me.

I was told that I was going to be put on a 100 level contract with both new companies.

However, when I get the comission statement from the new carrier, it only shows 90% on the product (RNA SIWL) that I sold (I'm sure you can get higher than that on that product).

Now they tell me that I will get 90% from the company and then the IMO is going to pay me the extra 10%.

I'm not very happy and think this is B.S. Is this B.S.? SHould I bet mad, should I switch IMO/FMOs?

Grease your ankles and brace yourself.

 

[GreenSky]

Grease your ankles and brace yourself.

Are you sure the ankles are where the grease should be used?

Rick

 

[360]

Complete BS. You can go up to 105 direct at RNA without production requirements. Looks like it's time to move some contracts.

 

[jemelton]

called the guy out on it and he offered me a release within 20 sec of the conversation....thanks to the forum as always.

 

[Todd King]

called the guy out on it and he offered me a release within 20 sec of the conversation....thanks to the forum as always.

If you got the release and want to re-contract, you can call me for it if you like. (Just throwing it out there!).

 

[Mark]

Don't sign anything until you see it in writing. The comp should be filed out before you sign the contract and never trust anyone to pay you out of their pocket.

 

[Frank Stastny]

(Just throwing it out there!).

"It's a high fly ball to right field, Todd is under it positioning himself for the catch...".

Don't know why I thought of that. Sorry Todd, couldn't resist.

 

[GreenSky]

"It's a high fly ball to right field, Todd is under it positioning himself for the catch...".

Don't know why I thought of that. Sorry Todd, couldn't resist.

Because everyone knows Todd is a catcher!

(Ok, just kidding - I think).

Rick