Our new policy requiring client notice and acknowledgement of Broker of Record (BOR) for commission payment and reporting purposes took effect on February 1, 2018. Before we contact clients directly, we reached out to our brokers to have them obtain confirmation and submit the appropriate documents from their clients.
“We continue to focus on making our business as transparent as possible and assuring that we are in line with industry standards,” Christy DeFrain, VP of Sales and Account Management, said. “This policy update regarding broker commission acknowledgement from the client is an effort to do just that,” she added.
As the next step, we’ll be reaching out directly to our clients to obtain a signed Broker of Record confirmation document. Following this, we will contact you about commission payments going forward.
If you have any questions, please connect with your Purchasing Power sales lead.