The Insurance Broker shall comply with the following obligations towards the Company:
 

1. Sign an Insurance Brokerage agreement with each Company they deal with. The agreement must be executed in Arabic language, signed by both parties and authenticated before the official authorities. It shall remain in force throughout the period of dealing with the respective Company, and shall include the rights and obligations of each party in conformity with the provisions of these Regulations, particularly the following:
    
   1. The term of the agreement, how and why it can be terminated;
       
   2. Types and classes of insurance subject of brokerage;
       
   3. Geographical scope;
       
   4. A provision authorizing the Insurance Broker to receive the premiums in favor of the Company in cases where the Insurance Broker is permitted to collect the premiums. However, the Insurance Broker may not use the collected premiums for any other purpose.
       
   5. The agreed commission for the Insurance Broker, the manner to calculate such, when its due date for payment and its collection procedures.
       
2. The agreement may not include the following:
   
    
   1. Authorization to the Insurance Broker to issue insurance policies or endorsements thereto, or to amend policies or endorsements except for the issuance of motor insurance certificates if both parties wish so.
       
   2. Authorization to the Insurance Broker to receive compensations payable to clients or beneficiaries to be paid to the entitled recipients.
       
   3. Preventing the Insurance Broker from practicing its activity with any other company.
       
3. Submit all customer information and data which may affect the decision to be taken by the Company regarding the insurance cover, rates and conditions, in order to enable the Company to assess the risks to be insured or to renew its insurance.
    
4. Follow up on the collection of premiums in all types and classes of insurance licensed to be practiced by the Insurance Broker.
    
5. Receive insurance premiums from clients, excluding premiums related to insurance types and classes shown below which must be paid by the clients directly to the Company or to be deposited into the Company’s account:
    
   1. Life insurance and fund accumulation operations;
       
   2. Group health insurance;
       
   3. Marine and air cargo insurance;
       
   4. Hull insurance; and
       
   5. Petroleum insurance.
       
6. Deposit insurance premiums collected by the Insurance Broker in the cases where it is permitted to receiving such premiums in the account designated for the practice of Insurance Brokerage.
    
7. Transfer the received premiums to the Company within the period set forth in the agreement signed with the Company without deducting any amounts or interests due from such premiums; in addition to providing the Company with a detailed report thereon.
    
8. Not to use the letterhead of the Company - for which the Insurance Broker works - for their own correspondence or correspondence to their Clients.
    
9. The Insurance Broker may not, directly or indirectly, seek the cancellation of an insurance policy issued by the Company through another Insurance Broker with the aim of re-issuing the same through them. In this case, the new policy will not be counted when calculating their entitlements.
    
10. The Insurance Broker shall maintain the confidentiality of conditions, rates, information and data obtained from the Company and not to disclose such information to other companies.