> For the complete documentation index, see [llms.txt](https://docs.stoik.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.stoik.io/broker/policy-management/billing-and-payments.md).

# Billing and payments

### Types of collection

Stoïk offers two types of premium collection:

#### Direct billing

1. Premium payment by the client:
   * SEPA direct debit: the client is debited on the 1st day of the contract's start date. If the client's IBAN changes during the contract, they can update it from their Stoïk Protect platform, under the **Insurance** > **Invoices** tab, by clicking "Update mandate".
   * Bank transfer: the client must pay the premium on the 1st day of the contract's start date. They have 30 days to transfer the funds to Stoïk before formal notice is issued. Stoïk's bank details are shown on the premium notice.
2. Commission payment to the broker: the commission is paid to the broker the month following receipt of the client's payment.

#### Broker-collected billing

The broker must pay the premium, minus their commission, one month after the contract's start date. They also have 30 days to transfer the funds to Stoïk before formal notice is issued. Stoïk's bank details are shown on the premium call statement.

### Available documents

* Premium notice: document showing the premium amount the client must pay to Stoïk (direct billing).
* Commission statement: document showing the commission amount Stoïk must pay to the broker (direct billing).
* Premium call statement: document showing the premium amount, minus commission, the broker must pay to Stoïk (broker-collected billing).

### Payment status

You can check the status of a payment (from the client to Stoïk, from the broker to Stoïk, from Stoïk to the broker) from the `Clients` tab, in the `Payment` column of the table.

The possible statuses are:

* `Pending`: the invoice is due
* `Up to date`: the invoice has been paid
* `Overdue`: the invoice has not been paid


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