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Broker Commission Agreement
"Need a Broker Commission Agreement for a Singapore-based financial services company engaging multiple independent brokers to sell investment products, with a tiered commission structure and quarterly performance targets starting from March 2025."
1. Parties: Identification of the broker and principal parties
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Scope of Services: Detailed description of broker's services and responsibilities
5. Commission Structure: Calculation method, payment terms, and conditions for broker's commission
6. Term and Termination: Duration of agreement, renewal terms, and termination provisions
7. Obligations of Parties: Detailed responsibilities and duties of both the broker and principal
8. Representations and Warranties: Statements of fact and promises made by both parties
9. Compliance with Laws: Obligations to comply with relevant legislation and regulations
10. Confidentiality: Protection and handling of confidential information
11. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
1. Non-Compete: Restrictions on broker's competing activities during and after the agreement
2. Minimum Performance Requirements: Specific performance targets and metrics for the broker
3. Training and Support: Principal's obligations regarding training and resource provision
4. Insurance Requirements: Specific insurance coverage requirements for the broker
5. Data Protection: Specific provisions for handling personal data under PDPA
1. Commission Rate Card: Detailed breakdown of commission rates and calculation methods
2. Territory Schedule: Definition of geographical coverage and any territorial restrictions
3. Product Schedule: Comprehensive list of products or services covered under the agreement
4. Service Level Agreement: Detailed performance metrics, standards, and response times
5. Compliance Requirements: Specific regulatory requirements and compliance procedures
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