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1. Parties: Identification of the Principal and the Broker Agent, including registration numbers and FAIS license details
2. Background: Context of the agreement and brief description of the business relationship
3. Definitions: Definitions of key terms used throughout the agreement, including 'Commission', 'Services', 'Territory', and 'Clients'
4. Appointment and Scope: Formal appointment of the broker and detailed description of authorized services and territory
5. Duration and Termination: Term of the agreement, renewal provisions, and termination conditions
6. Commission Structure: Detailed explanation of commission calculations, payment terms, and conditions for earning commission
7. Obligations of the Broker: Broker's duties, compliance requirements, reporting obligations, and service standards
8. Obligations of the Principal: Principal's responsibilities, including payment terms and support provisions
9. Compliance and Licensing: FAIS Act compliance requirements and maintenance of necessary licenses
10. Confidentiality: Protection of confidential information and trade secrets
11. Data Protection: POPIA compliance and data handling requirements
12. General Provisions: Standard clauses including notices, governing law, and dispute resolution
1. Non-Compete: Restrictions on competitive activities, used when the broker has access to sensitive client information or strategic relationships
2. Performance Targets: Specific performance requirements and consequences, included when the agreement is performance-based
3. Training and Support: Details of training and support provided by the principal, included for complex product offerings
4. Multiple Product Lines: Specific provisions for handling different product categories, used when the broker represents various product types
5. Sub-Agents: Terms for appointing and managing sub-agents, included when the broker is authorized to build a network
6. International Operations: Special provisions for cross-border activities, included when the broker operates internationally
7. Clawback Provisions: Terms for commission recovery, included when there's a risk of early contract termination or policy cancellation
1. Commission Rates: Detailed breakdown of commission percentages for different products or services
2. Territory Description: Specific geographical areas or market segments covered by the agreement
3. Product Schedule: List of authorized products or services the broker may sell
4. Compliance Procedures: Detailed compliance requirements and procedures
5. Reporting Templates: Standard forms and templates for regular reporting
6. Service Level Requirements: Detailed performance metrics and service standards
7. Fee Schedule: Additional fees, charges, or special commission arrangements
Financial Services
Insurance
Real Estate
Investment Management
Banking
Wealth Management
Property Development
Securities Trading
Employee Benefits
Commercial Property
Legal
Compliance
Sales
Distribution
Operations
Finance
Risk Management
Business Development
Channel Management
Commission Administration
Relationship Management
Broker Agent
Financial Advisor
Sales Director
Compliance Officer
Legal Counsel
Distribution Manager
Channel Manager
Business Development Manager
Commercial Director
Risk Manager
Commission Administrator
Relationship Manager
Operations Manager
Financial Services Representative
Agency Manager
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