Participation Agreement between First American Ins. Portfolios, Inc., SEI Investments Distribution Co.
Definition and meaning
A Participation Agreement between First American Ins. Portfolios, Inc., and SEI Investments Distribution Co. is a legal document that outlines the terms and conditions under which the parties will cooperate in the purchase, sale, and redemption of shares of mutual funds. This agreement serves as a foundational contract that governs the relationship between the parties, ensuring compliance with regulatory requirements while facilitating mutual benefit.
How to complete a form
Completing the Participation Agreement requires careful attention to detail and an understanding of the involved parties' roles. Users should follow these steps:
- Begin with the date of agreement at the top of the form.
- Enter the full legal names of all parties, including First American Insurance Portfolios, Inc., SEI Investments Distribution Co., and any involved insurance companies or distribution companies.
- Clearly outline the available funds and their definitions as per the agreement.
- Incorporate any specific terms regarding the addition or modification of funds.
- Ensure all terms regarding processing transactions are clearly defined.
- Verify the document details prior to finalizing and signing the agreement.
Key components of the form
This Participation Agreement includes several crucial components that are vital for ensuring clarity and compliance:
- Available Funds: Specifies which funds are available for purchase and any restrictions.
- Processing Transactions: Details the method and timing of executing purchase and redemption transactions.
- Costs and Expenses: Clarifies which party is responsible for various costs associated with the agreement.
- Termination Clauses: Outlines conditions under which the agreement can be terminated.
- Legal Compliance: Affirms that all actions under this agreement will comply with applicable laws.
Who should use this form
The Participation Agreement is intended for financial institutions, insurance companies, and investment firms involved in creating and managing mutual fund investments. Specifically, it is utilized by:
- First American Insurance Portfolios, Inc.
- SEI Investments Distribution Co.
- Other insurance companies and parties that wish to participate in the mutual funds offered by either of the aforementioned entities.
Benefits of using this form online
Utilizing an online version of the Participation Agreement offers numerous benefits:
- Accessibility: Forms can be completed and accessed from anywhere, at any time.
- Ease of Use: Online forms often guide users through the completion process with prompts and tips.
- Environmentally Friendly: Reduces paper usage, making the process more sustainable.
- Faster Processing: Online submissions can expedite the review and approval process.
Common mistakes to avoid when using this form
Users should be aware of potential pitfalls when completing the Participation Agreement:
- Incomplete Information: Failing to fill out all required fields can lead to delays.
- Incorrect Party Names: Ensure that all names are spelled correctly and match legal documents.
- Neglecting Signatures: Forgetting to sign the document can invalidate the agreement.
- Ignoring State Requirements: Ensure compliance with specific state regulations that may apply.
Form popularity
FAQ
The new Industry Master Participation Agreement endorsed by BAFT is designed to simplify the exchange of documentation between banks and reduce legal costs by minimizing redundancies and excessive bi-lateral discussions.It is anticipated to become the standard framework agreement for member banks of the EAC.
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