INSURANCE AGENCY AGREEMENT.
This Agency Agreement (hereinafter referred to as the “Agreement”) is entered
into on this ________ day of __________ 20__by and between ________________
(hereinafter referred to as the “Agency”) and FIDES INSURANCE (hereinafter
referred to as the “Company”). Together referred to as “parties.”
WHEREAS the parties agree to be mutually bound by the terms and obligations
provided hereunder; –
1. Purpose.
Parties agree that the Agent will be responsible for selling insurance policies to any
potential clients.
2. Term.
The terms of this agreement shall be binding indefinitely until and unless otherwise
terminated under this agreement.
3. Compensation.
The parties agree that the company will own all policies sold from the leads that the
company provides to the Agent.
Parties agree that the commissions are to be paid at a 50% split of the street level of
the carrier sold.
The Company owns the book of business.
If the agent leaves the agency, 100% of the commissions will be paid to the agency.
4. Governing.
Parties agree that the terms of this agreement shall be governed and construed in
accordance with the laws of _________.
5. Dispute Resolution.
If any dispute arises regarding the provisions of this agreement, the same shall be
negotiated in the first instance between the parties; if it fails, the argument shall be
taken to litigation in accordance with the applicable laws.
The parties shall cater to their legal costs.
6. Termination.
Either party to this agreement may terminate the terms herein at any moment without
the issuance of a notice or any reason as long as there is no active referral.
If the agent breaches the terms of this agreement and the company finds out the
agent took the company’s book of business, they will have to pay five times the
average cost to acquire the member, which is $300 per member.
7. Non-Disclosure.
The agent acknowledges that during the performance of the obligations under this
agreement, they will come into contact with confidential information, i.e., the
marketing or sales process, to which they acknowledge and agree not to disclose to
any third parties without prior written consent from the Company.
Failure to comply herein and the agent is found to be replicating the company’s in-
house process for their benefit, the contract will be canceled and all clients will
remain with the Company.
8. Modification.
The parties herein may only modify or amend the terms by the same being reduced
into writing and signed by both parties willingly.
9. Waiver.
The parties agree that no waiver of the rights under this agreement shall be
construed as a continuing waiver or as consent to any future or subsequent
breaches.
10. Entire Agreement.
This agreement constitutes the entire agreement between the parties herein and
supersedes any prior oral or written agreements or promises.
11. Severability.
Suppose any provision of this agreement is deemed invalid or unenforceable by a
court of competent jurisdiction. In that case, the same shall be severed from this
agreement, and the remaining provisions shall continue in existence and full force
and effect.
12. Acceptance.
By the parties signing herein below, they accept to be legally bound by the terms and
provisions of this agreement.
By the Company: –
Name:
_____________________________
Designation:
________________________
Signature:
__________________________
Date:
______________________________
By the Agency: –
Name:
_____________________________
Designation:
________________________
Signature:
__________________________
Date:
______________________________
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )