Common use of Authorities and Responsibilities Clause in Contracts

Authorities and Responsibilities. 1. TWFG has access to certain insurance markets and companies (the “Companies”), and AGENT desires to use those markets. Available markets may change without notice. 1.1. Pursuant to request that the underwriting facilities of TWFG be made available to AGENT, TWFG hereby grants authority to AGENT to receive proposals for such contracts of Insurance as TWFG has authority lawfully to make; subject, however, to the restrictions placed upon such AGENT by the laws of the State where AGENT does business (“Resident State”) and further limited to the following terms and conditions which are mutually agreed upon between TWFG and AGENT. 1.2. AGENT may receive proposals for insurance covering only such classes of risks and in such amounts as TWFG, may, from time to time, by letter, underwriting guide, rate chart or other written instructions, authorize AGENT to write; and collect and receive premiums on insurance (limited by the terms and conditions hereinafter stated) submitted by AGENT to, and accepted by, TWFG. TWFG and/or Carrier reserves the right to cancel or modify any insurance contract at any time. 1.3. AGENT is being given a Binding Authority Appointment with TWFG in most cases and non-binding authority in a few instances.