As your agency formulates plans for the competitive future, increased sales through effective marketing are crucial. Hiring a new producer provides an avenue by which the agency can market its products and services. The producer may also provide perpetuation options, develop product lines previously undersold, attract new company markets and apply his or her talents for the benefit of the agency.
The Best Practices Guide to Producer Contracts walks the reader through many different areas within an effective agreement including: Parties to the Agreement, Recitals, Term of the Agreement, Responsibilities of the Producer, Responsibilities of the Agency, Exclusive Nature of Employment, Compensation, Benefits and Expenses, Non-compete, Non-piracy, Non-disclosure, Collections, Authority of the Producer, Option to purchase agency interest, Vesting of commissions and so much more. View the Table of Contents here.
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