Broker agreement
The contract between a broker or ISO and a funder governing submissions, commission and conduct.
Typically covers commission structure and timing, exclusivity of submitted merchants, non-solicitation of the funder’s existing clients, and representations about how leads were obtained. That last clause is where compliance obligations reach the broker contractually rather than only through regulation.
Why it matters to a broker
Read what you have represented about lead sourcing. It is usually broader than brokers realise.
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