Industry Code: 62903
This classification is only to be used after verification with the Classification unit. As indicated in the industry title, this classification applies only to sales operations which are not classified elsewhere and is subject to other restrictions laid out below. Sales operations detailed below are compulsory.
Pawn shops or pawnbrokers are an exempt industry per the General Regulations and are classified in this industry on a voluntary basis.
Operation Details:
Employers in this industry buy and resell products without handling them. These operations are conducted by firms who do not operate retail or wholesale outlets, do not have products manufactured under contract, nor offer or provide any service or installation of the product. These employers do not provide or arrange for any transportation or delivery services on a for-hire basis.
Generally, companies in this classification will be representatives of in-province manufacturers and dealing in more than one line of product. These types of employers may take title to the products and sell on a "markup" basis or they may sell on a commission arrangement.
A key feature of these businesses are they deal in more than one line of product.
Pawn shops or pawnbrokers operate from retail type locations. This industry consists of loaning money, with interest, on security of personal property for a stipulated period of time. If the loan is not repaid, the pawnbroker may sell the items.
Underwriting Considerations:
Businesses engaged in marketing the products or services of a specific and unrelated employer or industry, on a commission basis, are classified in that industry. Brokers (companies paid a fee for arranging transactions between independent third parties) do not take title to a product and are classified in industry 86901.
Traveling salesmen or manufacturers' agents (representatives of firms based outside the province where no stock of inventory is maintained in Alberta) are classified in industry 89100.
Internet based sales operations which buys and resells products without handling them and not warehoused in Alberta are classified in industry 62903, Sales Operations (NEC). However, when the internet based sales operation takes title to, and handles or warehouses the product in Alberta, the entire business is classified in the appropriate retail classification.
Industry Custom Pricing: Waiving Cost Relief Option
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2010. Costs related to the aggravation of a pre-existing condition will not be removed from the experience record of employers classified in this industry. In return, the portion of premiums collected to fund retroactive cost relief has been removed from the industry rate, resulting in a reduction in WCB premium rates for the industry.
Premium Rate History:
Activities:
Pawnshop
Rate Group History:
This industry was placed in this rate group effective January 1, 1996 recognizing the nature of the sales activities.
This classification is only to be used after verification with the Classification unit. As indicated in the industry title, this classification applies only to sales operations which are not classified elsewhere and is subject to other restrictions laid out below. Sales operations detailed below are compulsory.
Pawn shops or pawnbrokers are an exempt industry per the General Regulations and are classified in this industry on a voluntary basis.
Premium Rate History:
Activities:
Pawnshop
Operation Details:
Employers in this industry buy and resell products without handling them. These operations are conducted by firms who do not operate retail or wholesale outlets, do not have products manufactured under contract, nor offer or provide any service or installation of the product. These employers do not provide or arrange for any transportation or delivery services on a for-hire basis.
Generally, companies in this classification will be representatives of in-province manufacturers and dealing in more than one line of product. These types of employers may take title to the products and sell on a "markup" basis or they may sell on a commission arrangement.
A key feature of these businesses are they deal in more than one line of product.
Pawn shops or pawnbrokers operate from retail type locations. This industry consists of loaning money, with interest, on security of personal property for a stipulated period of time. If the loan is not repaid, the pawnbroker may sell the items.
Underwriting Considerations:
Businesses engaged in marketing the products or services of a specific and unrelated employer or industry, on a commission basis, are classified in that industry. Brokers (companies paid a fee for arranging transactions between independent third parties) do not take title to a product and are classified in industry 86901.
Traveling salesmen or manufacturers' agents (representatives of firms based outside the province where no stock of inventory is maintained in Alberta) are classified in industry 89100.
Internet based sales operations which buys and resells products without handling them and not warehoused in Alberta are classified in industry 62903, Sales Operations (NEC). However, when the internet based sales operation takes title to, and handles or warehouses the product in Alberta, the entire business is classified in the appropriate retail classification.
Industry Custom Pricing: Waiving Cost Relief Option
This industry has chosen to participate in Industry Custom Pricing effective January 1, 2010. Costs related to the aggravation of a pre-existing condition will not be removed from the experience record of employers classified in this industry. In return, the portion of premiums collected to fund retroactive cost relief has been removed from the industry rate, resulting in a reduction in WCB premium rates for the industry.
Rate Group History:
This industry was placed in this rate group effective January 1, 1996 recognizing the nature of the sales activities.