Provize

Provize refers to a commission or fee paid to an agent or salesperson for facilitating a transaction, such as a sale, or for providing a service. It is a form of variable compensation directly tied to performance. The term is commonly used in various industries, including real estate, insurance, and sales. The specific percentage or amount of provize is usually agreed upon in advance between the parties involved.

The purpose of provize is to incentivize individuals to achieve specific goals and generate revenue. It allows businesses to manage their costs by only paying for successful outcomes. For the individual receiving the provize, it offers the potential to earn more than a fixed salary, depending on their sales or service effectiveness. The calculation and payment of provize are typically outlined in a contract or agreement.

In some contexts, "provize" might also refer to a finder's fee or a referral fee, where a person is compensated for introducing a client or business opportunity to another party. The exact definition and application of provize can vary depending on the industry, geographical region, and specific contractual arrangements. Understanding the terms of provize is crucial for both the payer and the payee to ensure clarity and prevent disputes.