Agency Agreement (Insurance) Template for Philippines

1. Performance Targets: Specific sales targets and performance metrics, used when the principal wants to include measurable objectives

2. Training Requirements: Detailed training obligations and certification requirements, included for complex insurance products

3. Marketing and Branding: Guidelines for using the principal's brand and marketing materials, important for agents with significant marketing activities

4. Sub-Agents: Terms for appointing and managing sub-agents, included when the agent is permitted to build a network

5. Digital Platform Usage: Rules for using the principal's digital platforms and tools, included for digitally-enabled distribution

6. Anti-Money Laundering Procedures: Detailed AML procedures when the agent handles high-value or investment-linked products

1. Schedule A - Commission Structure: Detailed breakdown of commission rates for different insurance products and scenarios

2. Schedule B - Product List: List of authorized insurance products the agent can sell with key features

3. Schedule C - Territory: Detailed description of authorized geographical territory for agent's activities

4. Schedule D - Performance Metrics: Specific KPIs and performance evaluation criteria

5. Schedule E - Compliance Checklist: Detailed regulatory compliance requirements and procedures

6. Appendix 1 - Required Forms: Standard forms and documentation required for insurance transactions

7. Appendix 2 - Marketing Guidelines: Detailed marketing and promotional material guidelines

8. Appendix 3 - Training Manual: Training requirements and procedures for the agent and sub-agents