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Broker Agent Agreement for Ireland

Broker Agent Agreement Template for Ireland

A comprehensive legal agreement governed by Irish law that establishes and regulates the relationship between a principal company and a broker agent. The document outlines the terms under which the broker agent can represent and conduct business on behalf of the principal, including specific authorizations, regulatory compliance requirements under Irish financial services law, commission structures, and operational procedures. It incorporates requirements from the Investment Intermediaries Act 1995, relevant EU regulations, and Central Bank of Ireland guidelines, while addressing risk management, data protection, and professional standards specific to the Irish market.

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Broker Agent Agreement

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What is a Broker Agent Agreement?

The Broker Agent Agreement serves as the foundational document for establishing regulated intermediary relationships in the Irish market. This agreement is essential when a company wishes to appoint authorized representatives to distribute their products or services through indirect channels. The document must comply with Irish financial services regulations, including the Investment Intermediaries Act 1995 and relevant EU directives implemented in Ireland. It typically includes detailed provisions on regulatory compliance, commission structures, service levels, and risk management. The agreement is particularly relevant for financial services providers operating under Central Bank of Ireland supervision and needs to address specific requirements for different types of regulated activities, whether in insurance, investments, or other financial products. The Broker Agent Agreement becomes necessary when companies expand their distribution networks, require specialized market access, or seek to leverage external expertise while maintaining regulatory compliance and operational control.

What sections should be included in a Broker Agent Agreement?

1. Parties: Identifies and provides details of the principal company and the broker agent, including registration numbers and registered addresses

2. Background: Contextual information explaining the purpose of the agreement and the nature of the business relationship

3. Definitions: Defines key terms used throughout the agreement, including regulatory terms specific to Irish financial services

4. Appointment and Scope: Details of the broker's appointment, territory, and scope of authorized activities

5. Regulatory Compliance: Obligations regarding compliance with Irish financial regulations, including Central Bank requirements

6. Duties and Responsibilities: Specific duties of the broker, including reporting requirements and service standards

7. Commission Structure: Details of compensation, commission rates, and payment terms

8. Representations and Warranties: Statements of fact and promises made by both parties regarding their capacity and authority

9. Compliance with Laws: Obligations to comply with specific Irish and EU laws, including anti-money laundering regulations

10. Confidentiality: Provisions protecting confidential information and compliance with data protection laws

11. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

12. Post-Termination Obligations: Duties and restrictions that survive the termination of the agreement

13. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for disputes

What sections are optional to include in a Broker Agent Agreement?

1. Non-Compete Clause: Restrictions on competitive activities, used when the broker has access to sensitive market information

2. Professional Indemnity Insurance: Requirements for maintaining professional insurance, mandatory if dealing with certain financial products

3. Sub-Agents: Terms governing the appointment of sub-agents, included if sub-contracting is permitted

4. Marketing and Branding: Guidelines for using the principal's branding, included if the broker will represent the brand

5. Training Requirements: Specific training obligations, included for complex financial products

6. Minimum Performance Standards: Performance targets and consequences, included for performance-based relationships

7. Digital Services: Terms governing use of digital platforms and tools, included if relevant to service delivery

8. Force Majeure: Provisions for unforeseen circumstances, optional but recommended for long-term agreements

What schedules should be included in a Broker Agent Agreement?

1. Schedule 1: Products and Services: Detailed list of authorized products and services the broker may offer

2. Schedule 2: Commission Rates: Comprehensive breakdown of commission structures and calculation methods

3. Schedule 3: Regulatory Requirements: Specific regulatory obligations and compliance requirements under Irish law

4. Schedule 4: Reporting Ƶ: Standard forms and templates for required reporting

5. Schedule 5: Service Level Agreement: Detailed service standards and performance metrics

6. Appendix A: Required Qualifications: List of mandatory qualifications and certifications for broker personnel

7. Appendix B: Compliance Procedures: Step-by-step compliance procedures and checklists

8. Appendix C: Territory Map: Geographical definition of the broker's authorized territory if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Ƶ

Document Type

Agency Agreement

Cost

Free to use
Relevant legal definitions

































Clauses

































Relevant Industries

Financial Services

Insurance

Investment Services

Banking

Mortgage Broking

Wealth Management

Real Estate

Commercial Property

Corporate Finance

Commodity Trading

Securities Trading

Pension Services

Relevant Teams

Legal

Compliance

Risk Management

Sales

Operations

Business Development

Channel Management

Regulatory Affairs

Finance

Distribution

Commercial

Relevant Roles

Compliance Officer

Legal Counsel

Broker Relationship Manager

Sales Director

Chief Operating Officer

Risk Manager

Business Development Manager

Channel Partner Manager

Regulatory Affairs Director

Operations Manager

Commercial Director

Chief Financial Officer

Distribution Network Manager

Agency Manager

Compliance Manager

Contract Administrator

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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