Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
directly or indirectly, from any insurance company, underwriter, or other entity or individual (other <br />than as defined in this Attachment) that is paid or given on account of a certain volume or type of <br />business being placed with any particular carrier, including payments commonly referred to as <br />contingent commissions, if the insurance purchased by the COUNTY with respect to the Scope of <br />Services is considered as part of such volume or type (collectively the "Contingent Commissions"). <br />BROKER shall promptly disclose to the COUNTY all Contingent Commissions. It is the intent of <br />the parties that BROKER never receive, in the aggregate, more than the compensation set forth <br />above from all sources in connection with the performance of the Scope of Services. <br />Disclosure/Transparency <br />Any and all sources of compensation, whether direct or indirect, including but not limited to fees, <br />commissions and return premiums, received by BROKER and any affiliated and unaffiliated <br />wholesaler/intermediary as it relates to this Agreement will be fully disclosed to the COUNTY in the <br />proposal of insurance for each line of coverage. In the event an unaffiliated wholesaler/intermediary <br />is unwilling to disclose their compensation, BROKER will note the exception and discuss <br />alternatives with the COUNTY and only continue to utilize said wholesaler/intermediary with the <br />COUNTY's prior knowledge and approval. All compensation arrangements are to be disclosed <br />annually by line coverage in each proposal in the assurance of voluntary disclosure form which will <br />be provided to the COUNTY prior to any placement of insurance. <br />Miscellaneous Compensation Terms <br />Premiums, as used in this agreement, does not include taxes, loss funds, inspection fees, assessments <br />or other similar fees. <br />Where applicable, insurance coverage placements which BROKER makes on COUNTYs behalf, <br />may require the payment of federal excise taxes, surplus lines taxes, stamping or other fees, to the <br />Internal Revenue Service (federal), various state(s) departments of revenue, state regulators, boards <br />or associations. In such cases, COUNTY is responsible for the payment of such taxes and/or fees, <br />which will be identified separately by BROKER on invoices covering these placements. <br />Costs and expenses associated with travel and expenses incurred by BROKER in the performance of <br />duties performed in the performance of its obligations in this Agreement shall be the sole <br />responsibility of BROKER. <br />STATE OF FLORIDA <br />INDIAN RIVER COUNTY <br />THIS IS TO CERTIFY TH <br />A TRUE AND CORREC <br />THE ORI NAL ON FI <br />OFFIC <br />BY <br />DATE <br />FFREY R. S <br />Attachment B <br />Page 2 of 2 <br />