The data protection provisions in this document have been updated with reference to the UK GDPR.
This Commission Agreement is for use where a provider of goods or services (the"Client") wishes to engage another to introduce new customers to the Client (in return for a fee or commission) in order to generate more sales and increase the Client's customer base.
An introducer differs from an agent as an introducer does not do any selling of his Client's products or services or pass orders on to the Client or accept any orders on behalf of the Client, but rather will refer a potential customer on, either through simply informing him of the goods or services provided by the Client, or by actively passing contact details and so forth on to the Client.
Once the introduction is made, the introducer has no further role in the relationship between the Client and the customer.
This template is designed for use where the Client does not have in mind any one particular customer to target, but rather is simply seeking to obtain new customers and widen its client base, or sell into a new market. If you require an agreement which is designed for the situation where the Client is targeting a specific customer or type of customer, you should use one of the Introducer Agreements.
Under this agreement the introducer will receive a fee or commission for all transactions that occur between any customer introduced by him and the Client within a set period. This differs from the Referral Fee Agreement in this subfolder, which instead provides for a fee to be earned only in respect of the first transaction between the Client and the introduced customer.
Should the introducer fail to introduce new custom, he will earn no commission. In this respect this is a no win – no fee type agreement.
This template and the Referral Fee Agreement are less detailed than the other agreements in this subfolder. You may therefore instead wish to use one of the other documents in this subfolder.
This document has not been created in accordance with FSA rules or the Financial Services and Markets Act 2000, and as such makes no reference or commitment to abiding by them. This agreement therefore is unsuitable for the introduction of clients for financial services, such as insurance products or investment advice.
This Commission Agreement contains the following clauses:
1. Definitions and Interpretation
2. Appointment of Introducer
3. Introduction of Prospective Clients
4. Obligations of the Company
5. Fees and Payment
6. Relationship of the Parties
9. Data Protection
12. Nature of Agreement
13. Notices & Service
14. Set Off
Schedule 1: Commission Schedule
Schedule 2: Product Schedule
Schedule 3: Each Party's Privacy Notice
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the agreement.
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