authority granted for a particular action or function.
4.
a document granting such authority.
5.
a document conferring authority issued by the president of the U.S. to officers in the Army, Navy, and other military services, and by state governments to justices of the peace and others.
6.
the power thus granted.
7.
the position or rank of an officer in any of the armed forces.
8.
a group of persons authoritatively charged with particular functions: a parks commission.
9.
the condition of being placed under special authoritative responsibility or charge.
10.
a task or matter committed to one's charge; official assignment: The architect received a commission to design an office building.
11.
the act of committing or perpetrating a crime, error, etc.: The commission of a misdemeanor is punishable by law.
12.
something that is committed.
13.
authority to act as agent for another or others in commercial transactions.
14.
a sum or percentage allowed to agents, sales representatives, etc., for their services: to work on a 20 percent commission.
–verb (used with object)
15.
to give a commission to: to commission a graduate of a military academy.
16.
to authorize; send on a mission.
17.
to give the order that places a warship, military command, etc., in a state of complete readiness for active duty.
18.
to give a commission or order for: The owners commissioned a painting for the building's lobby.
—Idioms
19.
in commission,
a.
in service.
b.
in operating order: A great deal of work will be necessary to put this car in commission again.
c.
Also, into commission.Navy. (of a ship) manned and in condition for or ordered to active service.
20.
on commission, paid entirely or partially with commissions from sales one has made or for work one has done: The salespeople who are on commission earn 6 percent of the total amount they sell.
21.
out of commission,
a.
not in service.
b.
not in operating order: The stove is out of commission.
[Origin: 1300–50; ME (< AF) < L commissiōn- (s. of commissiō) a committing. See com-, mission, commit]
a special group delegated to consider some matter; "a committee is a group that keeps minutes and loses hours" - Milton Berle [syn: committee]
2.
a fee for services rendered based on a percentage of an amount received or collected or agreed to be paid (as distinguished from a salary); "he works on commission"
3.
the act of granting authority to undertake certain functions
4.
the state of being in good working order and ready for operation; "put the ships into commission"; "the motor was out of commission"
5.
a group of representatives or delegates [syn: deputation]
6.
a formal statement of a command or injunction to do something; "the judge's charge to the jury"
7.
an official document issued by a government and conferring on the recipient the rank of an officer in the armed forces
A service charge assessed by an agent in return for arranging the purchase or sale of a security or real estate. The commission must be fair and reasonable, considering all the relevant factors of the transaction. Commissions vary widely from broker to broker.
Investopedia Commentary
The brokerage with the lowest commissions is not necessarily the best one - you get what you pay for. Discount brokerages offer no advice, which can prove to be troublesome for many rookie investors. On the other hand, full-service brokerages offer a more personalized service, but commissions are much higher.
The fee levied by a broker to undertake a trade on behalf of a customer. Because the amount of the commission for a particular trade is no longer fixed, it can varyconsiderably among firms. See also discount brokerage firm, full-service brokerage firm.
To what degree are brokerage commissions or other feesnegotiable?
The ability to negotiate fees and commissions varies from firm to firm. Some firms are very flexible and give the individual advisors and brokers the ability to negotiate fees tosome extent. Some firms offer a discount service via the Internet as well as a full service account. The degree of personal service and advice the investor requires will influence the amount of thediscount.
George Riles, First Vice President and Resident Manager, Merrill Lynch, Albany, GA
Merriam-Webster's Dictionary of Law - Cite This Source - Share This Main Entry: com·mis·sion Function: noun 1: a formal written authorization to perform various acts and duties <a notary's commission> 2 a: authority to act for, in behalf of, or in place of another b: a task or matter entrusted to one as the agent for another 3 a: a group of personsdirected to perform a duty busually cap: a government agency <Federal Trade Commission> —see also AGENCYc: a city council having legislative and executive functions 4: an act of committing something <commission of the crime> 5: a fee paid to an agent or employee for transacting a piece of business or performing a service; especially: a percentage of the money received paid to the agentresponsible for the business —commissiontransitive verb
Chris"tian\, a. 1. Pertaining to Christ or his religion; as, Christian people. 3. Pertaining to the church; ecclesiastical; as, a Christian court. --Blackstone. 4. Characteristic of Christian people; civilized; kind; kindly; gentle; beneficent. The graceful tact; the Christian art. --Tennyson. Christian Commission. See under Commission. Christian court. Same as Ecclesiastical court. Christian era, the present era, commencing with the birth of Christ. It is supposed that owing to an error of a monk (Dionysius Exiguus, d. about 556) employed to calculate the era, its commencement was fixed three or four years too late, so that 1890 should be 1893 or 1894. Christian name, the name given in baptism, as distinct from the family name, or surname.
Com*mis"sion\, n. [F., fr. L. commissio. See Commit.]1. The act of committing, doing, or performing; the act of perpetrating. Every commission of sin introduces into the soul a certain degree of hardness. --South. 2. The act of intrusting; a charge; instructions as to how a trust shall be executed. 3. The duty or employment intrusted to any person or persons; a trust; a charge. 4. A formal written warrant or authority, granting certain powers or privileges and authorizing or commanding the performance of certain duties. Let him see our commission. --Shak. 5. A certificate conferring military or naval rank and authority; as, a colonel's commission. 6. A company of persons joined in the performance of some duty or the execution of some trust; as, the interstate commerce commission. A commission was at once appointed to examine into the matter. --Prescott. 7. (Com.) (a) The acting under authority of, or on account of, another. (b) The thing to be done as agent for another; as, I have three commissions for the city. (c) The brokerage or allowance made to a factor or agent for transacting business for another; as, a commission of ten per cent on sales. See Del credere. Commission of array. (Eng. Hist.) See under Array. Commission of bankruptcy, a commission appointing and empowering certain persons to examine into the facts relative to an alleged bankruptcy, and to secure the bankrupt's lands and effects for the creditors. Commission of lunacy, a commission authorizing an inquiry whether a person is a lunatic or not. Commission merchant, one who buys or sells goods on commission, as the agent of others, receiving a rate per cent as his compensation. Commission, or Commissioned, officer (Mil.), one who has a commission, in distinction from a noncommissioned or warrant officer. Commission of the peace, a commission under the great seal, constituting one or more persons justices of the peace. [Eng.] To put a vessel into commission (Naut.), to equip and man a government vessel, and send it out on service after it has been laid up; esp., the formal act of taking command of a vessel for service, hoisting the flag, reading the orders, etc. To put a vessel out of commission (Naut.), to detach the officers and crew and retire it from active service, temporarily or permanently. To putthe great seal, or the Treasury, into commission, to place it in the hands of a commissioner or commissioners during the abeyance of the ordinary administration, as between the going out of one lord keeper and the accession of another. [Eng.] The United States Christian Commission, an organization among the people of the North, during the Civil War, which afforded material comforts to the Union soldiers, and performed services of a religious character in the field and in hospitals. The United States Sanitary Commission, an organization formed by the people of the North to co["o]perate with and supplement the medical department of the Union armies during the Civil War. Syn: Charge; warrant; authority; mandate; office; trust; employment.
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