Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Analyze the following draft of a contract: 4. Analyze the following draft of 2 contract Marketing Agresment This document il outline the agreed fo understanding
Analyze the following draft of a contract:
4. Analyze the following draft of 2 contract Marketing Agresment This document il outline the agreed fo understanding between (Credit Union) and (Group); or any client of associate relafionships presented te Credit Union and accepted in the membership of said Gredit Union. The Group will present said Credit Union with individuals and employer insiitutions that may wish to become members of Credit Union and become eligible fo participate in said Gredit Union benefits. It is undersiood by the management of said Credit Union that the Group is a life and healih organization. It is the intention of the Group to offer its insurance products to these marketed organizations, and any individuals within these: organizations on a voluntary basis. The Credit Union may not enter into an agreement with any competing organization as it pertains to any group marketed by the Group, its clients or any of its associate organizations. The Credit Union will not impose any administrative fees o be paid by the Group on this block of premium production. The Credit Union may not directly compete against the Group. The Credit Union will remit premiums to the selected insurance carriers from the Credit Union accounts of any individual whe chooses fo participate in szid [ife and health plans provided proper documentation is presented to said Credit Union in a timely manner. tis also understood that the Group will be responsible to provide said Credit Union members with sales and service and be accountable to the Board of Ditectors of the Gredit Union as it pertains to their practices. Should the Group not sufficiently provide service to, of engage in unethical practices, the: Gredit Union may require that the Group be presented 10 the Board of the Credit Union fa state its case. Should said inquiry result in the desire not ta have the Group representthe Gredit Uniion, this agreement can be terminated within 90 days, providing that the following items are enacted at the point of said temmination The Group will secure an agreement vith property bonded \"third party administrator\" that will assume the responsibility of collecting insurance premiums marketed by ihe Group or any of ifs clients and/or associale erganizations, from he Credit Union in the form of 2 lst bill The Credit Union wil be given the oplion of keeping said Group marketed individuals in its membership with written request during said S0-day transition period, and may continue fo provide benefits o said members. However, he Credit Union may nol intraduce a compefitive insurance organization to this block of members. Should the Board of the Credit Union impose this clause, the Group will not represent to any Credit Union member that we are being sponsored by, o have any involuement vith, the Credit Union The Credit Union vall remit said insurance premiums o the \"third parly administrator' of the Group's choice, and will impose no administraiive charge to either the Group ar the third party administrator for this fee. The Credit Union wil continue to provide the Group with any documentation pertaining te policy service on this black of business. This Agreement between the Credit Union and the Group govems that block of business that is marketed by the Group. There will be an r Agreement that will govem premiums that were not infroduced to the Credit Union and the Group. The Credit Union The Group Date. Witness WitnessStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started