Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 207

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 207
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 sale of investment
products to customers. AGBA enters into commission agreements with customers which specify the key terms and conditions of the arrangement.
Commissions are separately negotiated for each transaction and generally do not include rights of return, credits or discounts, rebates,
price protection or other similar privileges, and typically paid on or shortly after the transaction is completed. Upon the purchase of
an investment product, AGBA earns commission from customers, calculated as a fixed percentage of the investment products acquired by its
customers. AGBA defines the “purchase of an investment product” for its revenue recognition purpose as the time when the customers
referred by AGBA has entered into a subscription contract with the relevant product provider and, if required, the customer has transferred
a deposit to an escrow account designated by AGBA to complete the purchase of the investment products. After the contract is established,
there are no significant judgments made when determining the commission price. Therefore, commissions are recorded at point in time when
the investment product is purchased.

AGBA also facilitates the arrangement between
insurance providers and individuals or businesses by providing insurance placement services to the insured and is compensated in the form
of commission from the respective insurance providers. AGBA primarily facilitates the placement of life, general and MPF insurance products.
AGBA determines that insurance providers are the customers.

AGBA primarily earns commission income arising
from the facilitation of the placement of an effective insurance policy, which is recognized at a point in time when the performance obligation
has been satisfied upon execution of the insurance policy as AGBA has no future or ongoing obligation with respect to such policies. The
commission fee rate, which is paid by the insurance providers, based on the terms specified in the service contract which are agreed between
AGBA and insurance providers for each insurance product being facilitated through AGBA. The commission earned is equal to a percentage
of the premium paid to the insurance provider. Commission from renewed policies is variable consideration and is recognized in subsequent
periods when the uncertainty around variable consideration is subsequently resolved (e.g., when customer renews the policy).

In accordance with ASC 606, Revenue Recognition: Principal Agent Considerations, AGBA evaluates the terms in the agreements with its channels and independent contractors to determine
whether or not AGBA acts as the principal or as an agent in the arrangement with each party respectively. The determination of whether
to record the revenue in a gross or net basis depends upon whether AGBA has control over the services prior