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Collection Book

Definition of "Collection book"

Marylin Cavalie
  Keller Williams Realty

Record a debit (or other) agent makes for premiums collected, time period for which the policy is paid, and the week of collection or date the premium was paid. In essence, the debit agent, through the collection book, becomes a bookkeeper as well as a salesperson, since at the end of each week the agent has to balance the debit book, which in some instances is time consuming.

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