Introduced Customers Clause Samples
The 'Introduced Customers' clause defines which customers are considered to have been brought to a business by one party, typically in the context of referral or agency agreements. It usually specifies criteria for identifying such customers, such as requiring written notice or a list of names, and may set time limits or conditions under which a customer qualifies as 'introduced.' This clause is essential for determining entitlement to commissions or fees, ensuring both parties have a clear understanding of who counts as an introduced customer and preventing disputes over compensation.
Introduced Customers. 3.1. A Prospective Customer will be deemed an Introduced Customer, if that person satisfies all the following conditions:
(a) is introduced to the Company by the Introducing Broker;
(b) as determined by the Company, in the Company’s sole discretion, from time to time:
i. satisfies the Company’s Account opening requirements;
ii. provides to the Company the KYC information requested by the Company;
iii. satisfies the Company’s compliance requirements; and
iv. carries out the Company’s Account opening procedure;
(c) enters into an Operative Agreement;
(d) in the course of opening an Account follows the Introducing Broker’s referral link to the Platform;
(e) opens an Account; and
(f) after opening the Account, sends a confirmation email or an introducing broker form to the Company requesting the Company to associate it’s Account to the Introducing Broker, after opening the Account, (collectively, the Eligibility Criteria).
3.2. The Company will deem an Introduced Customer as an Existing Customer for the purposes of this agreement if, at any time, an Introduced Customer notifies the Company that the Introduced Customer desires to be disassociated from the Introducing Broker.