Market service agreement (MSA, PSA)

{
  "id": "MLC-T-INS-003690",
  "term": "Market service agreement (MSA, PSA)",
  "field": "Insurance and risk management",
  "definition": "A contract between an insurance producer and another entity, such as a real estate brokerage or mortgage lender, where the producer pays for marketing and advertising services. These arrangements, also known as marketing service agreements (MSA), are designed to generate insurance leads from the partner's client base. The structure and compensation must comply with the Real Estate Settlement Procedures Act (RESPA), which prohibits kickbacks for referrals and requires that payments reflect the fair market value of the services actually performed.",
  "url": "https://mlchart.com/terminology/insurance/market-service-agreement-msa-psa/"
}