Ƶ

Broker Of Record Agreement Template for Singapore

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Broker Of Record Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Broker Of Record Agreement

"Need a Broker of Record Agreement for our Singapore-based manufacturing company, appointing ABC Insurance Brokers Pte Ltd as our exclusive broker for all commercial insurance products from March 2025, with specific focus on cyber liability and professional indemnity coverage."

What is a Broker Of Record Agreement?

The Broker of Record Agreement is essential when a client wishes to formally appoint an insurance broker to manage their insurance portfolio in Singapore. This document establishes the broker's authority to negotiate with insurers, service insurance policies, and represent the client's interests. It outlines the broker's responsibilities, compensation structure, and compliance requirements under Singapore law, including MAS regulations and PDPA requirements. The agreement is particularly important for maintaining clear lines of authority and ensuring regulatory compliance in insurance transactions.

What sections should be included in a Broker Of Record Agreement?

1. Parties: Identifies all parties to the agreement, including legal names, registration numbers, and addresses

2. Background: Context of the agreement and the relationship between the parties

3. Definitions: Key terms used throughout the agreement

4. Appointment and Authority: Scope of broker's appointment and extent of authority

5. Term and Termination: Duration of agreement and termination conditions

6. Duties and Responsibilities: Obligations of the broker including compliance with regulations

7. Compensation: Commission structure and payment terms

8. Compliance: Regulatory compliance requirements under Singapore law

9. Confidentiality: Protection of confidential information and PDPA compliance

What sections are optional to include in a Broker Of Record Agreement?

1. Non-Compete: Restrictions on competitive activities - include when protecting against competitive threats

2. Technology Services: Terms for use of broker's technology platforms - include when digital services are part of offering

3. International Operations: Cross-border service provisions - include when broker operates in multiple jurisdictions

What schedules should be included in a Broker Of Record Agreement?

1. Commission Schedule: Detailed breakdown of commission rates and structures

2. Service Level Agreement: Specific service standards and performance metrics

3. Insurance Products Schedule: List of insurance products covered under the agreement

4. Compliance Requirements: Detailed regulatory requirements and procedures

5. Data Protection Addendum: Detailed PDPA compliance procedures

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

Relevant legal definitions






































Clauses







































Industries

Insurance Act (Cap. 142): Primary legislation governing insurance business and intermediaries in Singapore, setting out licensing requirements, operational guidelines, and regulatory framework for insurance brokers

Insurance (Intermediaries) Regulations: Specific regulations detailing requirements for insurance intermediaries, including brokers, their duties, responsibilities, and compliance obligations

Financial Advisers Act (Cap. 110): Legislation governing financial advisory services, including requirements for providing insurance advisory services and product recommendations

Securities and Futures Act (Cap. 289): Relevant when dealing with investment-linked insurance products, governing securities and investment aspects of insurance

MAS Guidelines and Notices: Regulatory guidelines and notices issued by the Monetary Authority of Singapore that provide detailed compliance requirements for insurance brokers

MAS Insurance Business Guidelines: Specific guidelines for insurance business operations, including broker conduct, risk management, and operational requirements

MAS Financial Advisers Guidelines: Guidelines specific to financial advisory services, including requirements for providing insurance advice and recommendations

Companies Act (Cap. 50): General corporate law governing business entities in Singapore, relevant for broker companies' corporate structure and governance

Business Registration Act (Cap. 32): Requirements for business registration and licensing in Singapore

Electronic Transactions Act: Governs electronic transactions and signatures, relevant for digital execution of broker agreements

Consumer Protection (Fair Trading) Act: Protects consumers' interests and ensures fair trading practices in insurance brokerage services

Personal Data Protection Act 2012: Governs the collection, use, and disclosure of personal data, crucial for handling client information in brokerage relationships

MAS Guidelines on Fair Dealing: Specific guidelines ensuring fair dealing with customers in financial services, including insurance brokerage

Contract Law (Common Law): General principles of contract law based on common law system, governing formation and enforcement of broker agreements

Unfair Contract Terms Act (Cap. 396): Regulates unfair terms in contracts, ensuring fairness in broker agreements and protecting parties from unreasonable provisions

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

Find the exact document you need

International Broker Agreement

A Singapore law-governed agreement establishing terms between an international broker and principal company, covering appointment, services, and regulatory compliance.

find out more

Business Broker Contract

A Singapore-compliant agreement governing the terms and conditions of business brokerage services for facilitating business sales and acquisitions.

find out more

Mortgage Broker Contract

A Singapore-compliant agreement between a mortgage broker and client, governed by MAS regulations.

find out more

Exclusive Brokerage Contract

A Singapore-compliant agreement granting exclusive property marketing and selling rights to a licensed real estate agency.

find out more

Broker To Broker Referral Form

A Singapore-compliant agreement establishing terms for client referrals between licensed real estate brokers.

find out more

Broker Dealer Contract

A Singapore-law governed agreement between broker-dealers and clients for securities trading services, compliant with MAS regulations.

find out more

Business Broker NDA

A Singapore-law governed confidentiality agreement protecting sensitive information in business sale transactions mediated by brokers.

find out more

Co Broker Agreement

A Singapore-governed agreement establishing cooperation terms between real estate brokers, including commission sharing and operational procedures.

find out more

Buyer Broker Agreement

A Singapore-compliant agreement establishing terms between a property buyer and their appointed real estate broker for property search and acquisition services.

find out more

Registration Agreement Between Broker And Owner

A Singapore-governed agreement establishing the terms between a property owner and real estate broker for property marketing and sales services.

find out more

Referral Agreement Between Brokers

A Singapore-governed agreement establishing terms for client referrals and commission sharing between licensed real estate brokers.

find out more

Real Estate Broker Referral Agreement

A Singapore-governed agreement establishing terms for client referrals between licensed real estate brokers, including commission arrangements and responsibilities.

find out more

Real Estate Broker Confidentiality Agreement

A Singapore-law governed agreement protecting confidential property information shared with real estate brokers.

find out more

Real Estate Broker Agreement

A regulated agreement between real estate brokers and clients in Singapore, establishing terms of service and commission structures under CEA oversight.

find out more

Real Estate Agent Independent Contractor Agreement

A Singapore-governed agreement establishing an independent contractor relationship between a real estate agency and agent, compliant with the Estate Agents Act 2010.

find out more

Real Estate Agent Agreement

A Singapore-law governed agreement establishing terms between real estate agents and their clients, compliant with Estate Agents Act 2010.

find out more

Broker Contract Agreement

A Singapore-law governed agreement establishing the relationship between a broker and client, regulated under MAS supervision.

find out more

Broker Client Agreement

A Singapore-law governed agreement establishing the relationship between a broker and client, compliant with MAS regulations.

find out more

Agreement Between Broker And Owner

A Singapore-law governed agreement defining the terms and conditions between a property owner and their appointed real estate broker.

find out more

Mortgage Broker Referral Fee Agreement

A Singapore-governed agreement establishing referral fee arrangements between mortgage brokers and referrers, compliant with MAS regulations.

find out more

Mortgage Broker Agreement

A Singapore-law governed agreement defining the terms between a mortgage broker and client, compliant with MAS regulations.

find out more

Master Broker Agreement

A Singapore law-governed agreement establishing the framework for broking services between a principal and broker, compliant with MAS regulations.

find out more

Loan Broker Commission Agreement

A Singapore-law governed agreement defining commission terms between loan brokers and lending institutions.

find out more

Loan Broker Agreement

A Singapore-law governed agreement between a loan broker and client, establishing terms for loan brokerage services under MAS regulations.

find out more

Introducing Broker Agreement

A Singapore law-governed agreement establishing terms for client referrals between an introducing broker and principal firm, compliant with MAS regulations.

find out more

Commission Agreement Between Brokers

A Singapore-governed agreement establishing commission-sharing terms between real estate brokers, compliant with local real estate regulations.

find out more

Exclusive Tenant Brokerage Agreement

A Singapore-governed agreement establishing exclusive representation rights between a property agent and tenant for property leasing services.

find out more

Exclusive Seller Brokerage Engagement Agreement

A Singapore-compliant agreement granting exclusive property selling rights to a licensed real estate agency.

find out more

Exclusive Seller Brokerage Agreement

A Singapore legal document authorizing exclusive real estate agency for property sales under regulated guidelines.

find out more

Co Broker Agreement Trucking

A Singapore-governed agreement establishing terms between two freight brokers for collaborative trucking services.

find out more

Builder Broker Agreement

A Singapore-governed agreement between builders and real estate brokers for property marketing and sales services.

find out more

Broker To Broker Agreement

A Singapore-law governed agreement establishing cooperation terms between licensed broking entities, including commission sharing and compliance requirements.

find out more

Broker Seller Agreement

A Singapore-law governed agreement between property owner and broker establishing terms for property sale services and commission arrangements.

find out more

Commercial Listing Agreement

A Singapore-governed agreement between property owners and real estate agencies for the listing and marketing of commercial properties.

find out more

Broker Referral Agreement

A Singapore-law governed agreement establishing terms for broker-to-broker referrals, including commission structures and compliance requirements.

find out more

Broker Of Record Agreement

A Singapore-governed agreement appointing an insurance broker as the official representative for managing insurance matters.

find out more

Commercial Broker Agreement

A Singapore-law governed agreement establishing the relationship between a principal and broker for commercial brokerage services.

find out more

Co Listing Agent Agreement

A Singapore-governed agreement establishing terms between two real estate agents for jointly marketing and selling a property.

find out more

Broker Lease Agreement

A Singapore-governed agreement establishing terms between a real estate broker and property owner for leasing services.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.