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Terms & Conditions of SPIFF Program Participants must be an authorized dealer sales representative for 9to5 Seating products, 18 years or older, and a resident of the United States Your dealership.

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So if one salesperson has a $1M goal and another has a $1.5M goal, then one has a target commission that is 150% that of the other. Whereas in a “bonus” world, the target incentive is fixed for the role (e.g., $40k per year) and is paid for hitting the goal, which may vary from one person to the next.

A spiff, or spiv, is slang for an immediate bonus for a sale. Typically, spiffs are paid, either by a manufacturer or employer, directly to a salesperson for selling a specific product.

Definition of commission: a piece of an employee's total compensation puzzle paid out when that employee makes a sale; commission is a form of variable pay. Definition of bonus: incentive compensation that is paid when a certain threshold is met, such as a sales quota.

What is a SPIFF? The acronym SPIFF refers to a short-term sales incentive strategy that offers monetary bonuses for sales professionals who achieve a specific goal. Many organizations offer SPIFF incentives based on goals such as sales quotas, client contract agreements, sale closures and demonstration bookings.

The term is often used as a synonym for the word "bonus." SPIFS are often used by vendors and employers to introduce new products to the market or increase sales within a specific time frame. The incentive may be a cash bonus or rebate -- or a prize, such as a vacation, car or club membership.

SPIFF programs are short-term campaigns to incentivize the sale of certain goods or services....It should include: Sales goals. ... Acceptable sales methods. ... Eligibility. ... Time frames. ... Incentives. ... A review plan.

Spiffs are typically one-time bonuses paid out for achieving specific goals. For example, a company might offer a sales spiff for every 10 new customers acquired. Commission, on the other hand, is a percentage of sales made that is paid out on an ongoing basis.

Spiff stands for "Sales Performance Incentive Fund" (spelled with an extra "f" for some reason in some cases). It's a short-term, incentive-based initiative meant to motivate sales representatives.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232