Billing implications of up-front payments

An up-front payment is a payment for a job that occurs before binding or issuing takes place. You must ensure that the billing system receives information about the payment at the time that the payment occurs. You must provide sufficient information about the payment for the billing system to identify the policy period to which the payment applies. If BillingCenter is your billing system, use the payments web service API provided by PaymentAPI to manage suspense payments. Create a suspense payment for a successful payment transaction. Remove a suspense payment for a successful credit transaction. Use the job number as the OfferNumber property of the PaymentReceiptRecord data transfer object that you send to BillingCenter.

Your billing system must be able to issue invoices that take account of receipt of any up-front payments for a policy period. You must take account of any delay that might occur in receiving the up-front payment before issuing invoices or starting delinquency.