Agenda - Council - 09/27/1988 - Laserfiche WebLink

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SAMPLE AGREEMENT THREE YEAR AGENT'S INSURANCE SERVICE AGREEMENT (Make any changes you may require) This agreement made , between the city of Ramsey, herein after referred to as ,,CLIENT", and Insurance Agents, Brokers, and Risk Management Advisors, hereinafter referred to as "A"; ,,client" agrees to engage the services of "A: as Insurance Servicing Agent of Record with respect to all Insurance of "CLIENT" within the scope of Professional Liability, Fire, Worker's Compensation, Casualty and Marine Insurance, and Fidelity and Surety Bonds, hereinafter referred to collectively as ,,Insurance", subject to the following items and conditions: Term of AGreement This agreement shall take effect on and shall continue and remain in effect for a period of three (3) years, unless it is terminated prior to the day of , by either party giving the other ninety (90) days prior written notice of termination. II. A~enc¥ Representation It is agreed that, with respect to all services to be performed under this agreement, "A" shall at all times and in all circumstances be the Insurance representative of ,,CLIENT" and shall use its best efforts to ascertain and understand the risks and the Insurance needs of ,,CLIENT" and, in all such matters, to act as though ,,CLIENTS" interest were its own. "A" shall also act in the capacity of Insurance Broker or Insurance Agent to negotiate, place, service and receive commission (if any) on all or any part of the Insurance purchased by ,,CLIENT"unless use of another agent or broker is authorized by the client. "A" shall be under the duty to fully disclose to personnel authorized by "CLIENT" any and all commissions, received or payable and any possible conflict of interest relating to "A" representation of any 13