⚠️ This funds flow only applies to agencies subscribed to Ascend Plus. For information about payment flow for Ascend Base/Starter agencies, please see this article here. ⚠️

• Payment flow on programs

• Payment flow on invoices

For both paid in full and financed programs, the following funds flow applies:

1. The Insured pays Ascend

2. The agency reviews and approves the policy payouts (more info here)

3. Ascend funds commissions + agency fee (when applicable) to the agency's operational account

4. Ascend funds premiums net of commission to Carrier/MGA

Payment timing depends on the policy(s) effective date:

• If the insured makes payment before the policy's effective date, payment will be sent within 2 business day of the effective date.

  • Funding will not be issued before the effective date, regardless of when the insured completes the down payment due to the additional risk involved in sending out financed premium before the policy is in effect.

• If the insured makes payment after the effective date, payment will go out within 3 business days.

The Ascend financial operations team performs compliance related checks at random and on larger premiums, which may cause small delays in funding if quote docs are not attached when the program is paid for. Our team will reach out to gather more information about the policy payment when this applies.

See here for more information about the insured's payment methods to understand the fill payment flow.

One-time invoices are one-time payments made from a client directly to your organization. When Ascend receives the insured's payment, the entire gross amount is initiated to your agency within 1 business day. The following funds flow applies:

1. Your customer successfully pays Ascend.

2. Ascend sends payment to your agency in full (not including any applicable transaction fees paid on the invoice).

To learn more about one-time invoices, check out this Help Center article.

(1) EFFECTIVE DATE - Payment timing depends on the policy(s) effective date:

• If the insured makes payment before the policy's effective date, payment will be sent within 2 business day of the effective date.

  • Funding will not be issued before the effective date, regardless of when the insured completes the down payment due to the additional risk involved in sending out financed premium before the policy is in effect.

• If the insured makes payment after the effective date, payment will go out within 3 business days.

(2) AUDIT - The Ascend financial operations team performs compliance related checks at random and on larger premiums, which may cause small delays in funding if quote docs are not attached when the program is paid for. Our team will reach out to gather more information about the policy payment when this applies.

For every payout, we will share a batch report as soon as the payout is complete. The report includes the following information:

• Insured info

• Payment Option (Pay-In Full / Financed)

• Payment Method

• Premium & Fees

• Commission details

Need more help? Contact us at support@useascend.com for more help.