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Broker Exclusive Agreement
"I need a Broker Exclusive Agreement for appointing an insurance broker in Belgium to exclusively represent our company's commercial insurance products in the Flanders region, with a minimum performance requirement of 鈧2M in annual premiums and the agreement to commence on March 1, 2025."
1. Parties: Identification of the principal and the broker, including full legal names, addresses, and registration numbers
2. Background: Context of the agreement and brief description of the parties' business relationship
3. Definitions: Key terms used throughout the agreement, including 'Territory', 'Services', 'Commission', and 'Exclusive Period'
4. Appointment and Scope: Formal appointment of broker and detailed description of exclusive rights and territory
5. Term and Exclusivity: Duration of the agreement and specific terms of the exclusive arrangement
6. Broker's Services and Obligations: Detailed description of services to be provided and broker's responsibilities
7. Principal's Obligations: Principal's duties, including provision of information and support
8. Commission Structure: Detailed compensation terms, calculation methods, and payment timing
9. Intellectual Property Rights: Usage rights for trademarks, logos, and marketing materials
10. Confidentiality: Protection of confidential information and trade secrets
11. Compliance: Regulatory compliance requirements and anti-money laundering obligations
12. Termination: Grounds for termination, notice periods, and post-termination obligations
13. General Provisions: Standard clauses including notices, amendments, and governing law
1. Performance Targets: Specific sales or performance goals, used when the principal wants to set measurable objectives
2. Training and Support: Details of training provided by principal, included when significant product knowledge is required
3. Marketing and Promotion: Marketing responsibilities and cost allocation, included when marketing is a significant component
4. Sub-Brokers: Terms for appointing sub-brokers, included when sub-broker arrangements are permitted
5. Data Protection: GDPR compliance provisions, required when personal data processing is involved
6. Non-Competition: Post-termination competition restrictions, included when protecting market position is crucial
7. Insurance: Insurance requirements and minimums, included for high-value or high-risk transactions
1. Schedule 1 - Territory Definition: Detailed description or map of the exclusive territory
2. Schedule 2 - Commission Calculations: Detailed commission structures, rates, and calculation examples
3. Schedule 3 - Service Level Agreement: Specific performance metrics and service standards
4. Schedule 4 - Approved Marketing Materials: List of approved marketing materials and usage guidelines
5. Schedule 5 - Compliance Procedures: Detailed compliance and anti-money laundering procedures
6. Appendix A - Required Documentation: List of required documentation for transactions
7. Appendix B - Reporting Templates: Standard templates for periodic reporting
Authors
Real Estate
Insurance
Financial Services
Maritime
Commodities Trading
Import/Export
Luxury Goods
Art and Antiquities
Business Brokerage
Commercial Property
Legal
Commercial
Business Development
Sales
Compliance
Contracts Administration
Partner Relations
Executive Leadership
Risk Management
Operations
Commercial Director
Business Development Manager
Sales Director
Legal Counsel
Compliance Officer
Contract Manager
Chief Commercial Officer
Broker Relations Manager
Partnership Manager
Regional Sales Manager
Managing Director
Chief Executive Officer
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