Agreement made
of
,20
between MLI,
Inc., a Washington Corporation,
herein after referred to as MLI and
herein after referred to as Producer.
FOR GOOD AND VALUE CONSIDERATION, MLI MUTUALLY UNDERSTOOD
AND AGREED AS FOLLOWS:
MLI agrees to give consideration to proposals and applications for insurance as
submitted by the producer,
Producer understands that he or she has no authority, express or implied, to bind or
obligate MLI of MLI'S Insurance Companies on any risk, either those being
submitted for consideration or those for which coverage has been afforded, without
the approval of MLI and PRODUCER agrees to hold MLI and MLI's Insurance
Companies harmless from any loss as a result of any violation of the terms of this
paragraph.
PRODUCER understands that there is a minimum earned premium on any risk bound
by MLI and PRODUCER guarantees to pay said premium with the understanding that
MLI does not permit flat cancellations of any coverage bound.
PRODUCER shall report to MLI immediately all claims on policies issued pursuant
to this agreement and agrees to cooperate fully with MLI to facilitate the investigation
and adjustment of any claim. PRODUCER shall not appoint an adjuster or attorney to
represent MLI or any Insurer represented by MLI on any claim without permission of
MLI.
All business placed through MLI shall be paid by PRODUCER no later than 5 days
from the date coverage is effective.
In the even the PRODUCER under this Agreement is a corporation, it is further
understood and agreed and guaranteed by the undersigned individuals, principal,
stockholders of said corporation, that all conditions of this Agreement shall be
binding upon them severally and jointly in the same manner as upon the corporation
named as PRODUCER.
PRODUCER shall not assign or otherwise transfer any or all of its interest in this
Agreement, it being the intent of the parties hereto that PRODUCERS interest herein
is personal to MLI.
It is understood and agreed that no agency, employment, partnership or joint venture
is hereby created between the parties, and neither shall be responsible for the actions,
obligations or expense of the other. The relationship between the parties shall be that
of independent contractor.
All information and data furnished by either party to this contact shall be treated as
confidential by the parties and their employees unless express written authorization
to the contrary is received.
Provided the PRODUCER has paid to MLI all premiums and other monies due on
business issued by MLI on behalf of the PRODUCER, the records of the
PRODUCER and the use and control of expirations shall remain the properties of the
PRODUCER and be left in his or her undisputed possession; otherwise, ownership of
the records, including use and control of expirations, shall be vested in MLI.
This agreement shall continue until terminated by either parties. Either party may
terminate at any time after execution upon giving 15 days notice, in writing to the
other party.
This writing constitutes the entire Agreement between the parties and may not be
amended except by written agreement sign by the parties.
