Dave's ESL Cafe's Student Discussion Forums

[shvetsov2005]

Hello,

I have read in the Wetfeet Guide:


Baker originally posted the position as starting at $50,000 with a 2 percent commission on all retained accounts.

Could you explain what do they mean exactly by "retained accounts" here?

Alexander.

[pugachevV]

In some businesses, such as insurance, where the service provided has to be paid for annually, a retained account is one that is paid for again the next year.