The Washington Distribution Agreement between First American Insurance Portfolios, Inc. (FAIR) and SET Financial Services Company (SET) is a contractual agreement that outlines the terms and conditions for the distribution of financial products and services in the state of Washington. This agreement governs the relationship between FAIR, the insurance underwriter and provider, and SET, the financial services company acting as the distributor. Under this agreement, FAIR authorizes SET to distribute its insurance products and services to customers in Washington. SET, in turn, agrees to promote and sell FAIR's products in compliance with all applicable laws, regulations, and industry standards. This Distribution Agreement encompasses various types of financial products, including life insurance policies, annuities, retirement plans, and investment-linked insurance products. These products allow individuals and businesses in Washington to protect their assets, plan for retirement, and achieve financial security. The agreement establishes the responsibilities and obligations of both parties. FAIR agrees to provide comprehensive marketing materials, training, and ongoing support to SET. This ensures that SET's financial advisors have the necessary knowledge and tools to effectively sell FAIR's products to their clients. SET, on the other hand, commits to using its best efforts to market and promote FAIR's products to its customer base in Washington. They must adhere to FAIR's compliance requirements and conduct proper due diligence to ensure that the products are suitable for potential customers. SET shall maintain accurate records of sales and provide reports to FAIR as required. The Washington Distribution Agreement also addresses compensation and fees. It outlines the commission structure and payment terms for SET's distribution services. SET may receive a percentage of premiums or a fee for each policy sold, as specified in the agreement. The parties agree to review and update these compensation terms periodically and provide notice of any changes. In the event of termination, the agreement specifies the conditions and provides guidelines for a smooth transition. Both parties agree to cooperate and work together to fulfill any outstanding obligations and ensure the interests of policyholders are protected. Overall, the Washington Distribution Agreement between FAIR and SET is a comprehensive document that governs the distribution of financial products and services in the state. It establishes the rights, responsibilities, and compensation structure for both parties, ensuring a mutually beneficial partnership.
Washington Distribution Agreement between First American Insurance Portfolios, Inc. and SEI Financial Services Company
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How to fill out Distribution Agreement Between First American Insurance Portfolios, Inc. And SEI Financial Services Company?
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