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Is it illegal for individuals to provide financial services on behalf of customers? Is it legal?
12. It must be illegal.

It depends on other terms of your contract. For example, if you have the obligation to help make a profit, the agent must be able to make a profit, at least not lose money. Why should he lose money? If the agent has obvious negligence, of course not.

However, if someone signs this clause, there must be something wrong with his brain.