This tab includes the information of the product version such as description, lookup file, currency, product commission, sales commission, and line of business (used for MGA Binder feature).
Description: short description of the product version
Currency: each product can only have one currency. Seamless currently supports up to 11 currencies which are: AUD, CAD, DKK, EUR, GBP, JPY, NOK, SEK, SGD, USD, VND.
When creating a new Product version from scratch, the currency field is auto-selected/defaulted with the Default Currency that is configured in Tenant settings.
When cloning/copying from an existing Product version, the Currency field is copied from the source product version and is not affected by Tenant settings.
Product commission (%): defines the default percentage at Product Commission that user can adjust during quotation process.
For product commission settings: Product commission configuration
Sales commission (%): defines the default percentage at Sales Commission that user can adjust during quotation process.
Line of business: defines the line of business that the product version belongs to (used for MGA Binder feature).
End date handling scheme: defines the scheme of renewal date. Two options:
Annual: with this option, the next renewal date will be the date after the previous end date plus one year.
Renewal Date Alignment: with this option, you need to specify the date and the month that you want to align the next renewal date for a customer.