The Broker Agreement serves as the primary contractual framework for establishing and managing broker relationships in Malta, a key European financial services jurisdiction. This document is essential for businesses engaging brokers to facilitate transactions, sales, or financial services, ensuring compliance with Maltese commercial law and relevant regulatory requirements. The agreement is particularly important given Malta's position as a financial services hub, requiring careful attention to both local and EU regulatory frameworks. It typically includes comprehensive provisions for broker appointment, service scope, compensation structures, compliance obligations, and risk management protocols. The Broker Agreement is designed to protect both parties' interests while ensuring adherence to applicable Maltese financial services regulations, anti-money laundering requirements, and data protection laws.
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1. Parties: Identification of the broker and the principal, including full legal names, registration details, and addresses
2. Background: Context of the agreement, nature of the principal's business, and broker's qualifications/licenses
3. Definitions: Key terms used throughout the agreement, including specific industry terminology and regulatory references
4. Appointment and Scope: Terms of broker's appointment, territory, and detailed description of authorized services
5. Broker's Obligations: Core duties, service standards, compliance requirements, and reporting obligations
6. Principal's Obligations: Support, information provision, and cooperation requirements
7. Compensation: Commission structure, payment terms, expenses, and calculation methods
8. Regulatory Compliance: Obligations under Maltese law, including MFSA requirements and AML obligations
9. Representations and Warranties: Standard and specific warranties from both parties, including licensing and authority
10. Confidentiality: Protection of confidential information and trade secrets
11. Term and Termination: Duration, renewal provisions, and termination grounds
12. Post-Termination: Obligations and restrictions after agreement ends
13. General Provisions: Standard clauses including notices, amendments, governing law, etc.
1. Exclusivity: Used when the broker has exclusive rights in a territory or for specific clients
2. Performance Targets: Include when the agreement includes minimum performance requirements
3. Training and Support: Relevant when the principal provides specific training or systems
4. Insurance Requirements: Detailed insurance obligations beyond standard requirements
5. Data Protection: Extended GDPR compliance section when handling significant personal data
6. Marketing and Branding: Rules for using principal's branding and marketing materials
7. Sub-Brokers: Include when sub-brokers are permitted
8. Online Platform Terms: Required when broker uses principal's online systems
1. Commission Structure: Detailed breakdown of commission rates, tiers, and calculation methods
2. Service Level Requirements: Specific performance metrics and service standards
3. Territory Definition: Detailed description of geographical or client segment coverage
4. Compliance Procedures: Step-by-step compliance requirements and checklists
5. Required Licenses: List of mandatory licenses and qualifications
6. Approved Marketing Materials: Templates and guidelines for marketing activities
7. Reporting Templates: Standard forms for regular reporting requirements
8. Key Performance Indicators: Metrics for measuring broker performance
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