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Introducer Agreement Commission

Introducer Agreement Commission Template for South Africa

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Key Requirements PROMPT example:

Introducer Agreement Commission

"I need an Introducer Agreement Commission for my South African wealth management firm, compliant with FAIS Act, where the introducer will refer high-net-worth clients and receive a 5% commission on successful introductions starting March 2025."

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Document background
The Introducer Agreement Commission document is essential for businesses operating in South Africa that wish to expand their client base through formal referral arrangements. This agreement type is particularly crucial in regulated industries where clear documentation of relationships and commission structures is required by law. The document ensures compliance with South African regulations, including the FAIS Act for financial services providers, FICA for anti-money laundering requirements, and POPIA for data protection. It outlines the authorized activities of the introducer, commission calculations and payment terms, compliance obligations, and risk management measures. The agreement is designed to protect both parties while providing a clear framework for successful business relationships in the South African market.
Suggested Sections

1. Parties: Identifies and provides full details of the principal company and the introducer, including registration numbers and addresses

2. Background: Explains the context of the agreement, the principal's business, and the introducer's role

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Appointment and Scope: Details the appointment of the introducer and defines the scope of their authority

5. Introducer's Obligations: Lists all duties and responsibilities of the introducer, including compliance requirements

6. Principal's Obligations: Outlines the principal's responsibilities and support to be provided to the introducer

7. Commission Structure: Details the commission rates, calculation methods, and payment terms

8. Compliance Requirements: Specifies regulatory compliance obligations, including FAIS Act and FICA requirements

9. Confidentiality: Addresses confidentiality obligations and protection of proprietary information

10. Data Protection: Ensures compliance with POPIA and establishes data handling procedures

11. Term and Termination: Specifies the duration of the agreement and termination provisions

12. Post-Termination Obligations: Outlines obligations that survive termination, including commission payments

13. General Provisions: Contains standard legal clauses including notices, governing law, and dispute resolution

Optional Sections

1. Non-Compete Clause: Restricts introducer from working with competitors, used when sharing sensitive business information

2. Training and Support: Details training provided by principal, included when comprehensive support is offered

3. Marketing Guidelines: Specifies rules for marketing and promotional activities, needed when introducer handles marketing

4. Professional Indemnity Insurance: Requires introducer to maintain insurance, important for financial services arrangements

5. Audit Rights: Grants principal right to audit introducer's records, used in high-value or regulated arrangements

6. Sub-Contractors: Governs use of sub-contractors by introducer, included when sub-contracting is permitted

7. International Operations: Addresses cross-border activities, needed for international introducers

Suggested Schedules

1. Schedule 1: Commission Rates: Detailed breakdown of commission rates for different products or services

2. Schedule 2: Territory: Defines geographical areas where introducer is authorized to operate

3. Schedule 3: Products and Services: Lists specific products or services covered by the agreement

4. Schedule 4: Reporting Requirements: Details required reports, formats, and submission timeframes

5. Schedule 5: Compliance Procedures: Specific compliance procedures and checklists

6. Appendix A: Introduction Process: Step-by-step guide for client introductions

7. Appendix B: Required Documentation: Lists documents required for client onboarding

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Applicable Laws
Business Day
Client
Commission
Confidential Information
Effective Date
FAIS Act
FICA
Financial Services
Initial Term
Intellectual Property Rights
Introduction
Introducer
Introducer Services
Personal Information
POPIA
Principal
Products
Professional Indemnity Insurance
Prospective Client
Regulatory Authority
Renewal Term
Services
Successful Introduction
Territory
Term
Termination Date
VAT
Commission Period
Commission Rate
Qualifying Introduction
Minimum Performance Requirements
Regulatory Requirements
Referral Process
Group Company
Parties
Representatives
Signature Date
Clauses
Appointment
Scope of Authority
Territory
Regulatory Compliance
Commission
Payment Terms
Representation and Warranties
Obligations
Performance Requirements
Confidentiality
Data Protection
Intellectual Property
Non-Compete
Non-Solicitation
Indemnification
Insurance
Term
Termination
Force Majeure
Assignment
Notices
Dispute Resolution
Governing Law
Entire Agreement
Severability
Variation
Waiver
Relationship of Parties
Anti-Bribery and Corruption
Record Keeping
Audit Rights
Marketing and Branding
Reporting Requirements
Relevant Industries

Financial Services

Insurance

Banking

Wealth Management

Investment Services

Professional Services

Real Estate

Business Consulting

Corporate Advisory

Asset Management

Relevant Teams

Legal

Compliance

Business Development

Sales

Risk Management

Finance

Operations

Commercial

Partnerships

Client Relations

Relevant Roles

Business Development Manager

Sales Director

Compliance Officer

Legal Counsel

Managing Director

Chief Executive Officer

Financial Advisor

Relationship Manager

Commercial Director

Head of Partnerships

Risk Manager

Chief Commercial Officer

Business Development Executive

Channel Manager

Industries
Financial Advisory and Intermediary Services Act 37 of 2002 (FAIS Act): Regulates financial service intermediaries and requires proper licensing and registration. Essential for introducer agreements involving financial services and commission structures.
Financial Intelligence Centre Act 38 of 2001 (FICA): Establishes requirements for customer due diligence and reporting of suspicious transactions. Relevant for compliance requirements in introducer relationships.
Protection of Personal Information Act 4 of 2013 (POPIA): Governs the processing and protection of personal information. Critical for handling client data shared between introducers and principals.
Consumer Protection Act 68 of 2008: Protects consumers' rights and ensures fair business practices. Relevant for transparency in commission structures and client relationships.
Prevention and Combating of Corrupt Activities Act 12 of 2004: Addresses corruption and bribery. Important for ensuring commission arrangements are legitimate and transparent.
Value Added Tax Act 89 of 1991: Regulates VAT implications on commission payments and services rendered in South Africa.
Income Tax Act 58 of 1962: Governs taxation of commission income and requires proper disclosure of commission earnings.
Companies Act 71 of 2008: Provides framework for business relationships and corporate governance requirements.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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