* You will be designated as a Point of Sales Person of ICM Insurance Brokers Limited.
* You are entitled to sell various products of the company as approved by IRDA for POSP vide circulars by Competent Authority issued from time to time.
* In the event an proposal of the client has been rejected/refused/returned, you shall not be entitled to receive any remuneration.
* In consideration of you having been empanelled with ICM Insurance Brokers Ltd. you agree not to accept any investment in cash and/or on your own name and shall at all times obtain and maintain all necessary authorization/registration.
* Your covenant with ICM Insurance Brokers Ltd. that at the time of entering into this arrangement you agree to abide all applicable laws of IRDAI in this regard.
* You shall not guarantee any returns to your investors nor make any representation or advertisement, in any manner and/or of any nature to investors without the specific authorization of ICM Insurance Brokers Ltd. and where permitted, shall only use advertising/promotional material authorized/permitted by the Company.
* ICM Insurance Brokers Ltd. reserves the right to terminate this arrangement at any time without assigning any reasons, ie; immediately in the event of breach of any of the terms and conditions or any applicable law including those prescribed by any other legal authorities.
* The appointment made hereunder does not in any manner create or seem to create any employer-employee or master-servant or agent-principal relationship between ICM Insurance Brokers Ltd. and yourself. You shall have no right to bind ICM Insurance Brokers Ltd. in any manner whatsoever.
* Any dispute arising out of the interpretation or construction of the appointment made hereunder shall first sought to be settled amicably, through discussion, deliberation, failing then the courts at Thrissur shall have exclusive jurisdiction to try the matter.
Other site taken below terms and conditions
*Failure of the POSP to attend the in-house training session as conducted by the
Failure of the POSP to clear the examination as conducted by Company;
* Conviction of a felony by POSP;
* Misappropriation (or failure to remit) any funds or property due the Company from
* Determination that POSP is not in compliance with Company underwriting guidelines
or the terms of this Agreement and POSP has failed to correct the problem within 10
days of the Company providing written notice of same;
* In the event of fraud or material breach of any of the conditions or provisions of this
Agreement on the part of either party, the other party may terminate the Agreement
immediately upon written notice.
* Fails to comply with directions of the Company.
* Furnish wrong information or conceals the information or fails to disclose the material
facts of the policy to the policy holder.
* Fails to resolve complaints, unless the circumstances are beyond his control,
emanating from the business procured by him and persons he deals with
* Indulges in inducement in cash or kind with client or any other insurance
* Fails to pay any penalty levied on his account.
* Fails to carry out his obligations as prescribed in the agreement and in the provisions
of: Act/regulations/circulars or guidelines by IRDAI from time to time.
* Acts in a manner prejudicial to the interest of the company or the client
* Acts in a manner that amounts to diverting funds of his Group/Affiliates or associates
rather than engaging in the activity of soliciting and servicing insurance business
* Is found guilty of fraud or is charged or convicted in any criminal act.