Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SET Financial Services Company: A Comprehensive Overview Introduction: The Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SET Financial Services Company represents a strategic partnership aimed at delivering a wide range of insurance products and financial services to clients across the Florida market. This collaborative effort enhances the accessibility and distribution of financial solutions while ensuring mutual benefits for both companies involved. Key Terms and Provisions: 1. Scope: This agreement outlines the terms and conditions governing the distribution of insurance products and financial services by First American Insurance Portfolios, Inc. through SET Financial Services Company in the Florida region. 2. Appointment and Authorization: First American Insurance Portfolios, Inc. appoints SET Financial Services Company as an authorized distributor of their insurance products and services within Florida. SET Financial Services Company accepts the appointment and undertakes the responsibility to distribute these offerings. 3. Licensing: Both parties acknowledge and confirm that they hold the necessary licenses, permits, and authorizations required by relevant regulatory bodies in Florida to engage in the distribution of insurance products and financial services. 4. Product Distribution: SET Financial Services Company agrees to actively promote and distribute First American Insurance Portfolios, Inc.'s suite of insurance products and financial services to their network of agents, brokers, advisors, and clients, within Florida. 5. Authorized Territories: This agreement specifically covers the distribution activities within the state of Florida. If either party plans to expand the scope beyond Florida, a separate addendum or agreement must be executed. 6. Reporting and Compliance: Both parties agree to maintain accurate records regarding the distribution activities in Florida. These records shall be made available for review upon reasonable notice. Each party shall comply with all applicable laws, regulations, and guidelines governing insurance distribution in Florida. 7. Compensation: The parties outline the compensation structure and payment terms for SET Financial Services Company’s distribution efforts. Compensation may be in the form of commissions, fees, or a combination of both, as agreed upon in writing. Types of Florida Distribution Agreements: 1. Exclusive Distribution Agreement: An exclusive agreement ensures that SET Financial Services Company has sole rights to distribute First American Insurance Portfolio, Inc.'s products and services within the geographical areas explicitly mentioned in the agreement. It prohibits First American Insurance Portfolios, Inc. from engaging with any other distributors in Florida for similar offerings. 2. Non-Exclusive Distribution Agreement: A non-exclusive agreement allows First American Insurance Portfolios, Inc. to engage with multiple distributors in Florida, including SET Financial Services Company. This type of agreement provides flexibility for both parties to collaborate with other distribution partners. 3. Limited Distribution Agreement: A limited distribution agreement restricts the distribution of First American Insurance Portfolios, Inc.'s products and services to a specific target market or a group of clients within Florida. It may be based on factors such as demographics, industry segments, or specified criteria. Conclusion: The Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SET Financial Services Company establishes a partnership encompassing the distribution of insurance products and financial services in the Florida region. This collaboration offers greater accessibility to clients, enhances market reach, and promotes the growth of both companies within the Florida insurance and financial sectors.
Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SEI Financial Services Company
Category:
State:
Multi-State
Control #:
US-EG-9187
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Word;
Rich Text
Instant download
Description
Distribution Agreement between First American Insurance Portfolios, Inc. and SEI Financial Services Company dated December 8, 1999. 9 pages
Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SET Financial Services Company: A Comprehensive Overview Introduction: The Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SET Financial Services Company represents a strategic partnership aimed at delivering a wide range of insurance products and financial services to clients across the Florida market. This collaborative effort enhances the accessibility and distribution of financial solutions while ensuring mutual benefits for both companies involved. Key Terms and Provisions: 1. Scope: This agreement outlines the terms and conditions governing the distribution of insurance products and financial services by First American Insurance Portfolios, Inc. through SET Financial Services Company in the Florida region. 2. Appointment and Authorization: First American Insurance Portfolios, Inc. appoints SET Financial Services Company as an authorized distributor of their insurance products and services within Florida. SET Financial Services Company accepts the appointment and undertakes the responsibility to distribute these offerings. 3. Licensing: Both parties acknowledge and confirm that they hold the necessary licenses, permits, and authorizations required by relevant regulatory bodies in Florida to engage in the distribution of insurance products and financial services. 4. Product Distribution: SET Financial Services Company agrees to actively promote and distribute First American Insurance Portfolios, Inc.'s suite of insurance products and financial services to their network of agents, brokers, advisors, and clients, within Florida. 5. Authorized Territories: This agreement specifically covers the distribution activities within the state of Florida. If either party plans to expand the scope beyond Florida, a separate addendum or agreement must be executed. 6. Reporting and Compliance: Both parties agree to maintain accurate records regarding the distribution activities in Florida. These records shall be made available for review upon reasonable notice. Each party shall comply with all applicable laws, regulations, and guidelines governing insurance distribution in Florida. 7. Compensation: The parties outline the compensation structure and payment terms for SET Financial Services Company’s distribution efforts. Compensation may be in the form of commissions, fees, or a combination of both, as agreed upon in writing. Types of Florida Distribution Agreements: 1. Exclusive Distribution Agreement: An exclusive agreement ensures that SET Financial Services Company has sole rights to distribute First American Insurance Portfolio, Inc.'s products and services within the geographical areas explicitly mentioned in the agreement. It prohibits First American Insurance Portfolios, Inc. from engaging with any other distributors in Florida for similar offerings. 2. Non-Exclusive Distribution Agreement: A non-exclusive agreement allows First American Insurance Portfolios, Inc. to engage with multiple distributors in Florida, including SET Financial Services Company. This type of agreement provides flexibility for both parties to collaborate with other distribution partners. 3. Limited Distribution Agreement: A limited distribution agreement restricts the distribution of First American Insurance Portfolios, Inc.'s products and services to a specific target market or a group of clients within Florida. It may be based on factors such as demographics, industry segments, or specified criteria. Conclusion: The Florida Distribution Agreement between First American Insurance Portfolios, Inc. and SET Financial Services Company establishes a partnership encompassing the distribution of insurance products and financial services in the Florida region. This collaboration offers greater accessibility to clients, enhances market reach, and promotes the growth of both companies within the Florida insurance and financial sectors.
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