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Non Exclusive Broker Agreement
"I need a Non-Exclusive Broker Agreement for an Australian financial services company to engage multiple insurance brokers, with specific provisions for compliance with ASIC regulations and a commission structure based on performance tiers."
1. Parties: Identification of the principal and broker, including ABN/ACN and registered addresses
2. Background: Context of the agreement, brief description of the parties' businesses, and purpose of the arrangement
3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation
4. Appointment and Scope: Terms of broker's appointment, confirmation of non-exclusive nature, and scope of authorized services
5. Term and Termination: Duration of the agreement, renewal provisions, and circumstances for termination
6. Broker's Obligations: Core duties, service standards, compliance requirements, and reporting obligations
7. Principal's Obligations: Support, information provision, and cooperation requirements
8. Compensation and Fees: Commission structure, payment terms, and expense arrangements
9. Compliance and Licensing: Regulatory compliance obligations and maintenance of required licenses
10. Confidentiality: Protection and handling of confidential information
11. Intellectual Property: Ownership and usage rights of relevant IP
12. Liability and Indemnity: Risk allocation, limitation of liability, and indemnification provisions
13. General Provisions: Standard clauses including notices, governing law, and dispute resolution
1. Performance Targets: Specific KPIs and performance metrics, used when the principal wants to establish measurable objectives
2. Territory Restrictions: Geographic limitations on broker's activities, included when specific territorial bounds are needed
3. Marketing and Branding: Guidelines for using principal's branding, relevant when broker will conduct marketing activities
4. Training Requirements: Specific training or certification requirements, included for specialized products or services
5. Non-Solicitation: Restrictions on soliciting clients or employees, used in more restrictive arrangements
6. Data Protection: Detailed data handling requirements, necessary when dealing with sensitive customer information
7. Sub-Contracting: Terms for engaging sub-contractors, included when sub-contracting might be permitted
8. Insurance Requirements: Specific insurance coverage requirements, used for high-risk or regulated activities
1. Schedule 1 - Commission Structure: Detailed breakdown of commission rates, calculation methods, and payment terms
2. Schedule 2 - Authorized Products/Services: Comprehensive list of products or services the broker is authorized to promote/sell
3. Schedule 3 - Service Level Requirements: Detailed service standards, response times, and quality metrics
4. Schedule 4 - Compliance Procedures: Specific compliance protocols and reporting requirements
5. Schedule 5 - Required Documentation: Templates and forms to be used in the course of business
6. Appendix A - Broker Qualifications: Copies of required licenses, certifications, and qualifications
7. Appendix B - Territory Map: Visual representation of any geographical restrictions or focus areas
8. Appendix C - Reporting Templates: Standard formats for regular reporting and performance tracking
Authors
Applicable Laws
Authorized Products
Authorized Services
ASIC
Broker
Broker Services
Business Day
Claims
Commencement Date
Commission
Confidential Information
Corporations Act
Customer
Effective Date
Force Majeure Event
GST
Intellectual Property Rights
License
Material Breach
Non-Exclusive Basis
Notice
Personal Information
Principal
Privacy Laws
Professional Standards
Regulatory Requirements
Related Bodies Corporate
Representatives
Service Level Requirements
Service Territory
Term
Termination Date
Transaction
Working Hours
Non-Exclusivity
Services
Term
Termination
Broker Obligations
Principal Obligations
Compliance
Licensing
Commission
Payment Terms
Performance Standards
Reporting
Confidentiality
Data Protection
Privacy
Intellectual Property
Representations and Warranties
Indemnification
Limitation of Liability
Insurance
Force Majeure
Assignment
Non-Solicitation
Independence
Record Keeping
Audit Rights
Dispute Resolution
Governing Law
Notices
Amendment
Entire Agreement
Severability
Relationship of Parties
Survival
Competition
Territory
Marketing
Training
Quality Control
Customer Service
Regulatory Compliance
Anti-Money Laundering
Counter-Terrorism Financing
Financial Services
Insurance
Real Estate
Wealth Management
Mortgage Broking
Commercial Property
Investment Services
Commodities Trading
Business Consulting
Export/Import
Legal
Compliance
Business Development
Sales
Risk Management
Operations
Finance
Partner Relations
Distribution
Commercial
Chief Executive Officer
Legal Counsel
Compliance Officer
Business Development Manager
Sales Director
Channel Manager
Broker Relations Manager
Risk Manager
Operations Manager
Contract Administrator
Chief Financial Officer
Relationship Manager
Partnership Manager
Distribution Manager
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