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7 . Excess Reporting Obligation . Unless otherwise specified in this Agreement, Service <br /> Agent agrees that reporting claims to excess insurance carrier is the Service Agent ' s <br /> responsibility . It is the responsibility of the Client to provide accurate coverage <br /> information regarding any insurance policies insuring claims covered by this <br /> Agreement . The information for all claim years that the Service Agent is handling will <br /> be made available to the Service Agent within 90 days of contract inception . New <br /> insurance information on renewal years will be made within 90 days of renewal date . <br /> Excess information will include name and claims reporting address and phone number <br /> of all carriers , policy number, effective dates, limits of liability , deductibles , specific <br /> retentions and loss funds . Actual policies will be provided . This information is <br /> required for each claim year that the Service Agent is handling for the Client. If this <br /> information is not made available as outlined in this paragraph , Service Agent will not <br /> be responsible for any penalties , interest, or reductions in excess recoveries because of <br /> late reporting . <br /> 8 . Disputes Subject to Arbitration . Any dispute or claim arising out of or relating to <br /> this Agreement or any breach thereof shall be resolved by submission of such dispute <br /> or claim to an arbitration panel composed as follows : The Client and the Service Agent <br /> shall each select one member of the panel and the two selected members shall select a <br /> third member . The parties agree to follow the rules of the American Arbitration <br /> Association . <br /> 9 . Termination . This Agreement may be terminated by either the Client or the Service <br /> Agent by giving prior written notice of ninety (90 ) days . In the event of such <br /> termination , compensation paid or payable to Service Agent under Paragraph 5 shall be <br /> prorated as appropriate . Notwithstanding anything in this Paragraph 9 to the contrary , <br /> the insolvency or tiling for relief from creditors of any party pursuant to the United <br /> States Bankruptcy Code or the material breach of a material provision of this <br /> Agreement by any party shall permit the other party to cancel this Agreement <br /> immediately upon written notice . <br /> 10 . Covenants of the Service Agent and the Client. Each of the Service Agent and the <br /> Client agrees to use its normal and ordinary professional care and diligence in the <br /> performance of its duties under this Agreement and will use its best efforts to comply at <br /> all times with the Law and the Rules . <br /> 11 . Miscellaneous . <br /> a. Each party represents and warrants that it has full power and authority to enter <br /> into this Agreement . <br /> b . All notices , requests , demands and other communications which are required or <br /> may be given under this Agreement shall be in writing and shall be deemed to <br /> have been duly given when received if personally delivered ; when transmitted <br /> if transmitted by telecopy , electronic telephone line facsimile transmission , or <br /> other similar electronic or digital transmission method ; the day after it is sent, if <br /> sent by recognized expedited delivery service ; and five ( 5 ) days after it is sent, <br /> if mailed , certified or registered mail , return receipt requested , postage prepaid . <br /> In each case, notice shall be sent to : <br />