Broker To Broker Commission Agreement Template for Nigeria

1. Non-Compete Clause: Restrictions on competing activities, used when brokers operate in overlapping markets

2. Cross-Border Transactions: Special provisions for international transactions, needed when dealing with foreign clients or markets

3. Training and Support: Terms for technical or operational support between brokers, relevant when one broker provides systems or expertise

4. Marketing and Branding: Guidelines for use of each other's brands and marketing materials, important for public-facing relationships

5. Force Majeure: Provisions for unforeseen circumstances affecting performance, particularly relevant in volatile markets

6. Insurance Requirements: Specific insurance obligations, important for high-value or high-risk transactions

7. Data Protection: Specific provisions for handling personal data, required when dealing with individual client information

1. Schedule A - Commission Rates: Detailed breakdown of commission percentages for different types of transactions

2. Schedule B - Approved Products: List of financial products or services covered by the agreement

3. Schedule C - Operating Procedures: Detailed procedures for commission calculation, reconciliation, and payment

4. Schedule D - Compliance Procedures: Specific compliance requirements and procedures for both parties

5. Schedule E - Contact Details: Key personnel and contact information for both parties

6. Appendix 1 - Required Documentation: List of documents required for commission claims and verification

7. Appendix 2 - Reporting Templates: Standard formats for commission reports and reconciliation statements