2020-078A - Laserfiche WebLink

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CONTINGENT COMMISSIONS Neither BROKER nor any affiliate of BROKER will accept any commissions or consideration, directly or indirectly, from any insurance company, underwriter, or other entity or individual (other than as defined in this Attachment) that is paid or given on account of a certain volume or type of business being placed with any particular carrier, including payments commonly referred to as contingent commissions, if the insurance purchased by the COUNTY with respect to the Scope of Services is considered as part of such volume or type (collectively the "Contingent Commissions"). BROKER shall promptly disclose to the COUNTY all Contingent Commissions. It is the intent of the parties that BROKER never receive, in the aggregate, more than the compensation set forth above from all sources in connection with the performance of the Scope of Services. DISCLOSURE/TRANSPARENCY Any and all sources of compensation, whether direct or indirect, including but not limited to fees, commissions and return premiums, received by BROKER and any affiliated and unaffiliated wholesaler/intermediary as it relates to this Agreement will be fully disclosed to the COUNTY in the proposal of insurance for each line of coverage. In the event an unaffiliated wholesaler/intermediary is unwilling to disclose their compensation, BROKER will note the exception and discuss alternatives with the COUNTY and only continue to utilize said wholesaler/intermediary with the COUNTY's prior knowledge and approval. All compensation arrangements are to be disclosed annually by line coverage in each proposal in the assurance of voluntary disclosure form which will be provided to the COUNTY prior to any placement of insurance. MISCELLANEOUS COMPENSATION TERMS Premiums, as used in this agreement, does not include taxes, loss funds, inspection fees, assessments or other similar fees. Where applicable, insurance coverage placements which BROKER makes on COUNTY's behalf, may require the payment of federal excise taxes, surplus lines taxes, stamping or other fees, to the Internal Revenue Service (federal), various state(s) departments of revenue, state regulators, boards or associations. In such cases, COUNTY is responsible for the payment of such taxes and/or fees, which will be identified separately by BROKER on invoices covering these placements. Costs and expenses associated with travel and expenses incurred by BROKER in the performance of duties performed in the performance of its obligations in this Agreement shall be the sole responsibility of BROKER. 13