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Broker To Broker Commission Agreement
I need a Broker to Broker Commission Agreement for a Danish insurance brokerage firm entering into a referral arrangement with a financial services broker, with a 30% commission split on all successful referrals and specific provisions for compliance with Danish insurance regulations.
1. Parties: Identification and details of the participating brokers, including full legal names, registration numbers, and registered addresses
2. Background: Context of the agreement and brief description of the brokers' businesses and their intention to collaborate
3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Commission', 'Clients', 'Services', 'Territory' etc.
4. Scope of Agreement: Defines the nature and extent of the broker relationship and permitted activities
5. Commission Structure: Details of commission rates, calculation methods, and payment terms
6. Payment Terms: Specifics about payment timing, currency, method of payment, and handling of taxes
7. Obligations of Party A: Detailed responsibilities and commitments of the first broker
8. Obligations of Party B: Detailed responsibilities and commitments of the second broker
9. Compliance Requirements: Regulatory compliance obligations, including AML, financial regulations, and data protection
10. Confidentiality: Provisions regarding the handling of confidential information and trade secrets
11. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
12. Dispute Resolution: Procedures for handling disputes, including jurisdiction and applicable law
13. General Provisions: Standard clauses including force majeure, entire agreement, amendments, and notices
1. Non-Compete: Restrictions on competing activities, used when brokers want to prevent direct competition
2. White Labeling: Terms for using each other's branding, needed when one broker's services are presented under the other's brand
3. Client Ownership: Specific provisions about client relationship ownership and transfer, important in shared client situations
4. Technology Integration: Terms for technical integration between broker systems, needed when platforms need to be connected
5. Training and Support: Details of any training or support services to be provided between brokers
6. Insurance Requirements: Specific insurance obligations, important in high-risk or regulated sectors
7. Marketing Cooperation: Terms for joint marketing activities and brand usage
8. Minimum Performance Requirements: Performance targets and consequences of not meeting them
1. Schedule A - Commission Rates: Detailed breakdown of commission rates for different products or services
2. Schedule B - Services Description: Detailed description of services covered under the agreement
3. Schedule C - Compliance Procedures: Specific compliance and due diligence procedures to be followed
4. Schedule D - Reporting Templates: Standard formats for regular reporting and commission calculations
5. Schedule E - Contact Details: Key contact persons and escalation matrices for both parties
6. Appendix 1 - Technical Requirements: Technical specifications for any required system integrations
7. Appendix 2 - Service Level Agreement: Specific service levels and response times if applicable
Authors
Applicable Law
Broker A
Broker B
Business Day
Client
Commission
Commission Period
Confidential Information
Effective Date
Force Majeure Event
Intellectual Property Rights
Material Breach
Net Commission
Payment Date
Personal Data
Referral
Regulatory Authority
Services
Territory
Trade Secret
Transaction
Working Hours
Gross Commission
Commission Rate
Qualified Lead
Relevant Transaction
Service Level Requirements
Term
Termination Date
Regulatory Requirements
Compliance Documentation
Due Diligence Requirements
Marketing Materials
Reporting Period
Commission Statement
Dispute
Jurisdiction
Key Performance Indicators
Client Documentation
Licensed Activities
Professional Standards
Recitals
Definitions
Appointment
Term
Commission Structure
Payment Terms
Broker A Obligations
Broker B Obligations
Representations and Warranties
Regulatory Compliance
Anti-Money Laundering
Data Protection
Confidentiality
Intellectual Property
Non-Competition
Non-Solicitation
Record Keeping
Audit Rights
Reporting Requirements
Service Levels
Territory Rights
Client Ownership
Marketing and Promotion
Force Majeure
Termination
Consequences of Termination
Indemnification
Limitation of Liability
Insurance
Assignment
Notices
Amendment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Third Party Rights
Counterparts
Authority
Costs
Good Faith
Survival
Financial Services
Insurance
Real Estate
Securities Trading
Commodities Trading
Foreign Exchange
Investment Banking
Maritime and Shipping
Business Services
Asset Management
Private Equity
Commercial Property
Wealth Management
Legal
Compliance
Finance
Operations
Business Development
Partner Relations
Risk Management
Sales
Account Management
Treasury
Commercial
Broker Relations
Chief Executive Officer
Chief Financial Officer
Head of Compliance
Legal Counsel
Compliance Officer
Business Development Manager
Partnership Manager
Commission Manager
Operations Director
Finance Manager
Risk Manager
Broker Relations Manager
Senior Broker
Account Manager
Sales Director
Contract Administrator
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