Agency Agreement Page 2
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7THIS AGREEMENT is made on this _________ day of _________ 2015
betweenthe
xxxxxxxxxxxof
Post
Office
Box
Number
xxxxxxx
Nairobi
(Hereinafter referred to as “xxxx”) of the ONE PART and the xxxxxxxxxxx, of
Post Office Box Number xxxxxxxx Nairobi (Hereinafter referred to as “xxxxx”)
on the OTHER PART
1. Terms of agreement
a) This agreement specifies the terms and conditions under which the agent
may introduce business to the company.
b) Nothing in this agreement shall override the duty of the agent to place
the interest ofthe prospect before all other considerations.
c) This agreement shall not be assignable by either party.
d) This agreement does not bind the company to accept any proposal for
new business or renewal put to it by the agent, nor does it bind the agent
to accept on behalf of the prospects the terms put to it by the company.
2. Law and Jurisdiction
This agreement shall be construed according to Kenyan Law and any disputes
arising in respect of it shall be determined under the Kenyan law.
3. Variation
Any variation to the terms of this agreement must be confirmed in writing by
both parties and shall not negate the content of this contract.
4. Authority
4.1.
The company hereby appoints the agent subject to the terms and
conditions of this agreement, as its non-exclusive agent for the sale of
its insurance products.
4.2.
The agent shall not, without consent of the company, amend
quotations or terms or conditions of insurances arranged by the
company, or place clients on cover.
5. Duties of the agent
5.1.
The agent will complywith all laws, statutes and regulations affecting
the subject matter of this agreement, and in particular abide by the
rules, requirements and procedures of the InsuranceRegulatory
Authority.
5.2.
The agent undertakes to pass to the company promptly any material
information notified to the agent by the client in connection with any
insurance contract in which it has an interest.
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