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1. Parties: Identification of the brokers entering into the agreement, including their registration details and SEC license numbers
2. Background: Context of the agreement and brief description of the brokers' businesses and intent to collaborate
3. Definitions: Key terms used throughout the agreement, including specific industry terminology
4. Scope of Agreement: Details of the business relationship and types of transactions covered
5. Commission Structure: Specification of commission rates, calculation methods, and payment terms
6. Payment Terms: Timeline and method of commission payments, including currency and payment procedures
7. Obligations of the Parties: Specific duties and responsibilities of each broker
8. Compliance Requirements: Obligations to comply with Nigerian securities laws, SEC regulations, and AML requirements
9. Confidentiality: Protection of confidential information shared between the parties
10. Term and Termination: Duration of the agreement and conditions for termination
11. Dispute Resolution: Process for resolving disagreements, including jurisdiction and applicable law
12. General Provisions: Standard clauses including notices, amendments, and entire agreement provisions
1. Exclusivity: Terms regarding exclusive arrangements between the brokers, used when parties agree to work exclusively in certain areas or transactions
2. Cross-Border Transactions: Additional provisions for international transactions, needed when deals involve foreign parties or markets
3. Training and Support: Details of any training or operational support provided between brokers, included when knowledge sharing is part of the arrangement
4. Marketing and Branding: Guidelines for using each other's brands and marketing materials, included when joint marketing is contemplated
5. Insurance Requirements: Specific insurance coverage requirements, included for high-risk or high-value transactions
6. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in volatile markets or uncertain conditions
1. Schedule A - Commission Rates: Detailed breakdown of commission rates for different types of transactions
2. Schedule B - Payment Procedures: Step-by-step process for commission calculations and payments
3. Schedule C - Compliance Procedures: Detailed procedures for ensuring regulatory compliance
4. Schedule D - Authorized Representatives: List of authorized personnel who can act on behalf of each broker
5. Appendix 1 - Required Documentation: Templates and forms required for commission claims and transaction processing
6. Appendix 2 - Service Level Standards: Performance metrics and service standards agreed between the parties
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