Free Broker Insurance Contract Template

Broker Insurance Contract

This Broker Insurance Contract ("Contract") is entered into as of January 15, 2065, by and between [Your Company Name], a licensed broker company in Alabama with its principal place of business located at [Your Company Address] ("Broker"), and Fivesphere, with its principal place of business located at Huntsville, AL 35801 ("Client").

I. Definitions

  • "Broker": Refers to the entity or individual licensed to act as an insurance broker and facilitate insurance transactions.

  • "Client": Refers to the individual or entity seeking insurance coverage and utilizing the services of the Broker.

II. Scope of Services

2.1 Duties of the Broker

The Broker shall use reasonable efforts to provide the following services to the Client:

  • Evaluate insurance needs based on the Client's information.

  • Source appropriate insurance products.

  • Negotiate terms with insurers on behalf of the Client.

  • Assist in completing insurance applications and documentation.

2.2 Duties of the Client

The Client agrees to provide accurate and truthful information necessary for obtaining insurance quote proposals.

III. Compensation

The Broker shall be compensated by commission from the insurer, details of which will be disclosed to the Client in writing before binding any insurance coverage.

IV. Terms and Termination

4.1 Term

This Contract shall commence on January 15, 2065, and remain in effect until terminated by either party.

4.2 Termination

Either party may terminate this Contract upon thirty (30) days written notice to the other party.

V. Confidentiality

Both parties agree to keep confidential any proprietary information received from the other party during the term of this Contract.

VI. Indemnity

Each party shall indemnify, defend, and hold harmless the other party against all claims, damages, and costs arising from any breach of this Contract.

VII. Governing Law

This Contract shall be governed by and construed under the laws of the State of Alabama.

VIII. Entire Agreement

This Contract constitutes the entire agreement between the parties and supersedes any prior agreements, understandings, or negotiations concerning the subject matter hereof.

IN WITNESS WHEREOF, the parties have executed this Contract as of the date first written above.

Broker Signature:
[Your Name]
Administrator, [Your Company Name]
Date: January 15, 2065

Client Signature:Alfonso Jewel
CEO, Fivesphere
Date: January 15, 2065

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