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Remuneration and remittance

Fees, remittances and binder eligibility

Commission, binder, survey and other fees keep their own basis, payee, cash direction, status and approval trail. Treasury records the rand remittance to the insurer; the binder fee becomes eligible only once the insurer has accepted it.

Premium

Only posted premiums carry fees and remittances.

Premium PREM-001

Policy VALTERRA 2026 · recognised 01 Jun 2026

Open the premium

Counterparty: Valterra Platinum (VALTERRA)
CurrencyFCYForeign currency: the currency a policy, premium, claim or payment is agreed in when it is not rand (ZAR). FCY amounts are kept exactly as agreed and exchange-rate movements never change them.: USD
Gross premium: US$720 362,29
Broker commissionBroker commissionThe share of the premium the broker earns, usually a percentage of the gross premium. When a receipt is net of commission, the broker keeps this amount and pays over the rest.: US$144 072,46
Binder feeBinder feeA fee for binding authority, calculated on the premium. It is recorded when calculated, but stays blocked until the ZAR remittance is submitted and the insurer has accepted it.: US$108 054,34
Recognition rateRecognition rateThe exchange rate used when a transaction is first recorded. Premiums use the policy inception date, liability claims use the date reported and all other claims use the date of loss.: 16.34000000 ZAR per USD
ZAR at recognition: R 11 770 919,82
Posted: 01 Jun 2026 11:15

Remuneration components

Each fee keeps its own rate, basis, cash direction and status.

Component	Line	Rate	Base	Amount	Carrying ZAR	Cash direction	Status	Remittance
Broker commissionBroker commissionThe share of the premium the broker earns, usually a percentage of the gross premium. When a receipt is net of commission, the broker keeps this amount and pays over the rest.	INV-VAL-001	20%	US$450 000,00	US$90 000,00	R 1 470 600,00	Broker keeps it	CALCULATED	—
Binder feeBinder feeA fee for binding authority, calculated on the premium. It is recorded when calculated, but stays blocked until the ZAR remittance is submitted and the insurer has accepted it.	INV-VAL-001	15%	US$450 000,00	US$67 500,00	R 1 102 950,00	Payable to the insurer	CALCULATED	Not yet remitted
Survey fee

Add a fee

Finance preparers add survey, risk management or other fees to a posted premium.

Survey feeA fee for surveying the insured risk. It is kept as its own component with its own basis, payee, cash direction and status.

Record a remittance

Treasury records the rand amount sent to the insurer and, once known, the insurer's acceptance.

RemittanceThe rand payment passed on to the insurer for premium collected. Binder fees stay blocked until the remittance is submitted and the insurer has accepted it.

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ZAR submittedRemittanceThe rand payment passed on to the insurer for premium collected. Binder fees stay blocked until the remittance is submitted and the insurer has accepted it.

Rand amount sent to the insurer. The premium was recognised at R 11 770 919,82.

Submitted on

Rate evidenceRate evidenceThe stored record of where an exchange rate came from: the provider, quote direction, requested and used dates, retrieval time and a fingerprint of the provider's response. It cannot be changed once used.

The exchange rate behind the rand amount.

Insurer accepted on

Leave blank until the insurer confirms. The binder fee stays blocked until then.

Comment

Required. Say how the remittance was made and confirmed.

Binder eligibility is worked out by the server from these dates; it cannot be set by hand.

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Remittances

Every remittance for this premium and the binder eligibility the server worked out.

No remittances yet. The binder fee stays blocked until Treasury records a remittance that the insurer has accepted.

History

No fee or remittance history yet.