BNET Business Dictionary
Business Definition for: Commission
- a payment made to an intermediary, often calculated as a percentage of the value of goods or services provided. Commission is most often paid to sales staff, brokers, or agents.
Wiktionary Definition for: Commission
- A sending or mission (to do or accomplish something).
- Ex: ''It was James Bond's '''commission''' to defeat the bad guys.''
- An official charge or authority to do something, often used of military officers.
- Ex:''David received his '''commission''' after graduating from West Point.''
- A body or group of people officially tasked with carrying out a particular function. Eg: The European Commission, The Electoral Commission, The Federal Communications Commission.
- Ex: ''The company's sexual harassment '''commission''' made sure that every employee completed the on-line course.''
- A fee charged by an agent or broker for carrying out a transaction. Eg: Reseller commission, Finder's fee.
- Ex: ''The real-estate broker charged a four percent '''commission''' one last time, before being arrested.''
- ''(transitive)'' To send or officially charge someone or some group to do something.
- Ex: ''James Bond was '''commissioned''' with recovering the secret documents.''
- ''(transitive)'' To place an order for (often piece of art); as, commission a portrait.
- Ex: ''He '''commissioned''' a replica of the Mona Lisa for his living room, but the painter gave up after six months.''
- ''(transitive)'' To put into active service; as, commission a ship.
- Ex: ''The aircraft carrier was '''commissioned''' in 1944, during WWII.''
Additional Resources
- Sample Commission List (Table)
- This is an administrative form designed to lend clarity to the commission picture. A frequently litigated issue is exactly which clients, customers, and sales result in a commission payment. Use this template as is, or tailor it to your own needs.
- Tools & templates 2000-12-12
- Commission Report
- Use one template for each salesperson to record sales, commission rates, and commissions payable. This template can be used either on paper or electronically, though the commission calculations will save you time.
- Tools & templates 2007-09-01
- Street Smarts: The Sales Commission Dilemma
- Sales organizations often use different tactics to motive their employees. One of the tools of motivation is giving sales commission to employees. Researches indicate that sales commission boosts the morale of employees. Salespeople realize their worth by receiving the commission on sales. However, experts suggest that commissions also play a...
- White papers 2003-01-01
- Eight Formulas for Sales Compensation - Explained
- Negotiating the compensation and "perks" of any executive position is complex work involving many different factors. But one particular type of negotiation involves more variables than all the rest: sales compensation. Part of confidence is knowing the terrain. In sales compensation, the "terrain" consists of eight major components: straight commission;...
- White papers 2005-07-27
- Securities and Exchange Commission Proposal to Require Hedge Fund Advisers to Register
- On July 14, 2004, the Securities and Exchange Commission ("Commission") voted 3-2 to propose new rule 203(b)(3)-2 under the Investment Advisers Act of 1940, as amended ("Advisers Act") to require hedge fund advisers to register with the Commission. The Commission also voted to propose certain conforming and transitional amendments to...
- White papers 2004-07-14
- Sales Commission Policy - Sample
- It is important for you to define when a commission is "Earned" and whether any advances paid are to be considered a draw against income. This sample sales commission policy will help you define those parameters, and it also describes what happens when a salesperson or broker is terminated. This...
- Tools & templates 2000-12-12
- Civitas Online Report: Response to the White Paper, Fairness for All: A New Commission for Equality and Human Rights
- The White Paper, Fairness For All, announces that, by 2006, the government intends to do away with all existing statutory bodies currently charged with promoting group equality in the workplace. The Commission for Racial Equality, the Equal Opportunities Commission, and the Disabilities Rights Commission are all due to go. The...
- White papers 2004-08-24
- Anyone up for OTC Derivatives Regulation?
- This paper outlines the need for regulating the derivatives market. Several factors account for the continued call for regulation of the over-the-counter (OTC) derivatives market. An analysis of debt and derivatives market is illustrated. The U.S. House and Senate are working on OTC derivatives market regulation that would create an...
- White papers 2002-05-01
- Financial Management: Audit of the White House Commission on the National Moment of Remembrance for Fiscal Years 2003 and 2002
- This document consists of a report which deals with the White House Commission on the National Moment of Remembrance (Commission). The Commission received appropriated funds in fiscal years 2003 and 2002. Its purpose is to sustain the American spirit through acts of remembrance for those who died serving their country,...
- White papers 2004-05-20
- Federal Trade Commission: Telemarketing Sales Rule
- In this document, the Federal Trade Commission (“FTC” or “Commission”) issues its "Statement of Basis and Purpose" (“SBP”) and final amended Telemarketing Sales Rule (“amended Rule”). The amended Rule sets forth the FTC’s amendments to the Telemarketing Sales Rule (“original Rule” or “TSR”). The amended Rule is issued pursuant to...
- White papers 2003-01-01
- ACT Gambling and Racing Commission Annual Report 2003-2004
- The Gaming Machine Act is a key piece of legislation in respect of gambling in the ACT and John took this review very seriously. Earlier this year that work culminated in the passage of the new Act, incorporating many of the recommendations that the Review had made. More details about...
- White papers 2004-10-22
- Sec Adopts Attorney Conduct Rule Under Sarbanex-Oxley Act
- Article talks about the Securities and Exchange Commission, adopted final rules to implement Section 307 of the Sarbanes-Oxley Act by setting "standards of professional conduct for attorneys appearing and practicing before the Commission in any way in the representation of issuers." In addition, the Commission approved an extension of the...
- White papers 2003-01-01
- LNG Overview
- The presentation briefs about introduction of energy commission, overview of LNG and its properties, review of LNG terminal concepts, and summary of LNG safety and environmental issues. As the state's energy policy agency, the energy commission: promotes energy efficiency and renewable, manages state's power plant licensing, conducts long term energy...
- White papers 2002-12-03
- Ethics Commission Gets Serious About Ethics
- If the above headline sounds like something you might read in The Onion, that's because this story, out of Nashville, sounds like an Onion plotline. Two years ago, in the wake of a corruption scandal that sent five lawmakers to jail, Tennessee created a state ethics commission...
- Blog posts 2008-04-21
- SEC Watch: Don't Let This Agency Be Crippled
- Perhaps the single most important government agency for the business world is the Securities and Exchange Commission. Its five-member commission makes decisions that affect every public company in the land as well as many privately held ones. The commission has been split 3-2 among Republicans and Democrats,...
- Blog posts 2008-01-31
- United States Supreme Court Affirms Order No. 888
- "On March 4, 2002, the United States Supreme Court upheld Order No. 888, the Federal Energy Regulatory Commission’s (“Commission”) 1996 rule implementing open access transmission service for electric utilities, in New York v. Federal Energy Regulatory Commission, 535 U.S. __ (2002). The case focused on the extent to...
- White papers 2002-03-01
- mySAP Financials SAP Incentive and Commission Management
- Whether one sells cars, insurance policies, or e-commerce services, incentives and commissions play an essential role in the sales management. Used as a strategic tool, incentives and commissions help to improve employee performance and reduce costs. SAP Incentive and Commission Management is a cross-industry solution that lets process incentives and...
- White papers 2004-08-04
- Paying Up: The Hidden Cost Of Portfolio Management; Commission Recapture: A Way To Get Some Back?
- Paying up is paying a brokerage commission over and above the cost of pure execution in exchange for research or other services from brokers. The part of the commission in excess of the cost of execution can be viewed as an indirect fee beyond the negotiated management fee that investors...
- White papers 2003-01-01
- Prompt Disaffirmation
- Promptly disaffirm to the Commission any opinion, document, affirmation, representation, characterization, or the like in a document filed with or submitted to the Commission, or incorporated into such a document, that the attorney has prepared or assisted in preparing and that the attorney reasonably believes is or...
- White papers 2003-01-01
- Final Rule: Strengthening The Commission’s Requirements Regarding Auditor Independence
- The Securities and Exchange Commission ("SEC" or "Commission") is adopting amendments to its existing requirements regarding auditor independence to enhance the independence of accountants that audit and review financial statements and prepare attestation reports filed with the Commission. The final rules recognize the critical role played by audit committees in...
- White papers 2003-05-06
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