Let Alliance Letting Agent Terms & Conditions and Introducer Only Agreement

Transcription

1 Let Alliance Letting Agent Terms & Conditions and Introducer Only Agreement Definitions: LA is Let Alliance Limited of Pulford, Chester,. Let Alliance is an Appointed Representative of Advent Solutions Management Ltd (FCA No ). The Introducer is the firm referred to in the Letting Agent application form and who will provide information about LA to the customer. Introducers will provide no information to LA about potential purchasers of LA s insurance products and services. The introducer is not allowed to be involved in the selling or the arranging of the insurances. 1 Term of commencement 1.1 These terms of business take effect from the date on which your application is submitted via the Letting Agent Application form and shall continue in existence until such time as the parties mutually agree otherwise in writing or either party terminates the agreement by giving the other not less than one calendar months notice in writing or the agreement is terminated in accordance with sections 7 & 8 below. Any termination of this agreement shall not affect any rights or obligations or continuing duties, which existed prior to the termination. 2 Recitals and relationship 2.1 LA provides tenant assessment services to the Introducer 2.2 LA provides insurance services to landlords and tenants of residential let properties. 2.3 The Introducer wishes to introduce customers to the insurance services of LA. This agreement does not and shall not create any partnership or joint venture between LA and the Introducer. 3 LA obligations 3.1 LA will provide effective tenant assessment services to the Introducer 3.2 LA will provide the Introducer with literature relating to the insurance covers referred to in appendix A and/or such other details as may be appropriate for the Introducer to pass to their customers, to enable their customers to contact LA. 3.3 It is the duty of LA to provide quotations or arrange cover on products detailed in appendix A directly to the customer. 3.4 LA undertakes to act at all times with due care, skill and diligence in accordance with regulatory requirements when dealing direct with the customer. 3.5 LA shall notify the Introducer promptly of any developments which may affect LA s ability to meet its obligations within this agreement. Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

2 4 Introducer obligations Tenant Assessment 4.1 The Introducer shall obtain the explicit consent of any person who is the subject of any assessment requested by the Introducer (hereinafter referred to as the Data Subject ) to the carrying out of such assessment prior to any such assessment being carried out on such Data Subject where the Data Subject has applied to rent a property through the Introducer. 4.2 The Introducer will procure that any tenant assessment result or report provided to it is only for the purpose of assessing whether a Data Subject is suitable to let a property through the Introducer. 4.3 The Introducer shall obtain explicit consent of the Data Subject that the search footprint to be retained by Callcredit Limited in respect of credit assessment will be read as having been made by LA rather than the Introducer. 4.4 The Introducer will keep any assessment report provided to it by LA confidential except that the result may be communicated to the landlord of the property concerned having obtained the landlord s agreement to keep the result confidential. 4.5 The Introducer shall comply with the provisions of the Data Protection Act 1998 and all other applicable legislation in respect of the assessment result and report. 4.6 The Introducer shall not under any circumstances sell, transfer, distribute or otherwise make any assessment result or report provided to it available to, or use the assessment result or report on behalf of, any other third party. 4.7 The Introducer will procure that after the assessment result has been used for the purpose set out in [4.1.2] above the result or report will not be accessed thereafter except for audit purposes. 4.8 Subject to the Introducer being given reasonable prior written notice, the Introducer shall permit LA to have reasonable access during the Introducer's normal business hours to the Introducer s relevant premises and relevant operations for the purpose of ensuring that the Introducer is complying with its obligations under this agreement. 4.9 The Introducer shall not sub-contract the performance of any of its obligations under this agreement and shall not assign or transfer any part of the agreement Callcredit Limited (credit assessment provider) will have the right to enforce the terms and conditions referred to under the heading Tenant Assessment above in accordance with the Contracts (Rights of Third Parties) Act Insurance 4.10 The Introducer may display and/or distribute non-real time financial promotions that relate to the products or services available through LA The Introducer must not design, display/and or distribute its own financial promotions that relate to the products or services available through LA and may only use those provided by LA. Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

3 4.12 The Introducer must not advise customers on any of the insurances services provided by LA The Introducer must not advise customers on any aspect of the insurance industry The Introducer must advise a customer who requests information in accordance with 4.11 and 4.12 above to contact LA 4.15 The Introducer must not handle any monies relating to the insurance services of LA The Introducer must not complete or assist a customer in completing a proposal form or any other form of literature relating to insurance services provided by LA The Introducer must not term themselves as being directly authorised by the FCA nor an appointed representative or introducer appointed representative of LA The agreement does not authorise the Introducer to engage in general insurance activity in any way The Introducer must not enter into any sub agency agreement in respect of the insurance services provided by LA The Introducer shall notify LA immediately of any developments which may affect the Introducer s ability to meet its obligations within this agreement The Introducer must observe and comply with the OFT guidelines on Unfair Contract Terms and specifically to ensure that they do not mandate that a tenant takes out insurance to cover their personal possessions as a condition of their Tenancy Agreement and provide to LA on request with copies of any tenancy agreements and related documentation for LA to review for compliance with OFT Guidelines The Introducer must comply with the rules, regulations and any requirements which may from time to time be specified by government agencies, the FCA or us. General 4.23 The Introducer shall use LA s Vision system in accordance with the user manual/ instructions provided which may be updated from time to time The Introducer shall keep in force a direct debit mandate in favour of LA for the purpose of LA collecting amounts due from the Introducer on a monthly basis The Introducer shall ensure that there are sufficient funds in its designated bank account to allow each direct debit to be collected in full on the due date It is LA s right to refuse any general insurance business you may introduce LA shall provide to the regulator immediately upon request all such personal data as it may require (including Sensitive Personal Data) in relation to you or any third party for any permitted purpose and according to law. Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

4 4.28 The Introducer must notify us immediately, in writing of any changes in the structure, location or domicile The Introducer will indemnify LA against costs, loss, liability or any expense whatsoever which may be suffered by LA directly or indirectly as a result of any services performed or action taken by the Introducer to the extent that same is due to the Introducer s negligence, wilful neglect or fraud. 5 Commission 5.1 The commission amount due to the Introducer will be at a level agreed separately with LA in writing from time to time. 5.2 The commission rate will be included for all new business, mid-term adjustment and renewal transactions. 5.3 Any commission earned will be shown on the monthly invoice, issued to the introducer on a monthly basis. 5.4 In the event that a refund is due to a customer as a result of a policy being cancelled, lapsed or altered the Introducer shall be liable to refund LA such proportional commission for the expired period. LA reserves the right to deduct this amount from any monies due. 5.5 Where an insurance premium is paid on a monthly direct debit basis by the customer, the introducer will be paid the commission against the monthly premium collected. 5.6 Where commission is to be refunded, payments are to be made to LA by cheque marked account payee only in favour of LA or by such other method and to such payee as we may direct. 5.7 In the event of termination of this agreement, LA may make alternative arrangements for the future conduct of existing business and no commission shall be payable to the agent in respect of general insurance activities conducted in accordance with this agreement after the date of termination whatsoever. 6 Confidentiality 6.1 The introducer and LA acknowledge that the terms of this agreement and the insurance affairs of customers are confidential and therefore accepts as may be required by law or for the transaction of insurance business, all information acquired by both parties concerning and consequent upon this agreement shall be treated as confidential and shall not be used otherwise than in connection with this Agreement or divulged to any other party. 7 Termination 7.1 Either party may terminate this agreement at any time and for any reason (including if one party considers that the other party is trading in an inappropriate manner) by giving no less than one month s notice in writing 7.2 Either party may terminate this agreement forthwith by written notice to the other party in the event of any of the following: 7.3 The other party shall be unable to pay its debts as and when they fall due within the meaning of section 123 of the Insolvency Act Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

5 7.4 The other party enters into liquidation whether voluntary or compulsory, other than for the purposes of amalgamation or reconstruction. 7.5 The other party makes any other composition or arrangement with its creditors. 7.6 The other party has an administrator or receiver or administrative receiver appointed of the whole or any part of its assets or undertaking or has distress or execution levied against any of its assets. 7.7 The other party has any relevant license to conduct business suspended removed or impaired by any order or decree of any judicial or regulatory authority. 7.8 The other party is merged with, acquired by or otherwise taken over by an individual corporation or other business entity or organisation of any kind unless previously agreed in writing. 7.9 The other party commits any offence under the Financial Services Act Consumer Credit Act 1987, Data Protection Act 1998 or other legislation LA ceases to be an appointed representative of Advent Solutions Management Limited without obtaining alternative appropriate authorisation to carry out insurance business in the UK The other party commits a material breach of any term of this agreement and, except in a case of a breach not capable of being remedied, such breach has not been remedied within thirty days of a written request to remedy the breach Termination of this agreement shall not in any circumstances give rise to any claim for compensation by the Introducer. 8 Service of notice 8.1 The respective addresses for service of notices, accounts and other documents under this Agreement shall be the addresses referred to in this Agreement provided that either party may by written notice to the other substitute another address in the UK, which will then become the notice address. 8.2 A notice account or document may be given and served on either of the parties hereto: - handing it to a duly authorised representative or third party - leaving it at the notice address of that party - sending it to the notice address of that party by registered or recorded delivery post - faxing it to the notice address of that party 8.3 Any notice account or other written communication posted shall be deemed to have been received 48 hours after it shall have been posted and any notice sent by fax shall if transmitted during business hours be deemed to have been received at the commencement of the next business day. 8.4 Any notice sent by fax shall be confirmed by forwarding a hard copy to the addressee in the manner provided in the paragraph 8.5 below. Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

6 8.5 In providing service of any notice it shall be sufficient to prove that delivery was made or that the envelope containing notice was properly addressed and posted by registered or recorded delivery post. 9 Law applicable 9.1 This Agreement shall be governed by and constructed according to English law and disputes in relation hereto may be determined by the Courts of England. 9.2 In the event of a change in law or regulation which affects any of the parties obligations under this Agreement, the parties will co-operate in good faith to agree any necessary amendment(s) or variation(s) to the Agreement. 10 Client ownership 10.1 All insured persons that are introduced to LA and/or for whom insurances are bound under this agreement shall remain the clients of LA. 11 Accounting procedures 11.1 Within Five working days of the end of each month, the Introducer will be issued with an invoice detailing all Tenant Assessment and Rent Guarantee transactions along with any insurance commissions due for the prior month Within fifteen days of the end of the month LA will collect any outstanding monies, net of any commissions due from the Introducer using the BACS system from an account as specified by the introducer In the event that the Introducer does not pay by direct debit or standing order, the Introducer must make payment by alternative means, upon agreement of the finance department, within fifteen days of the end of the month for which charges fall due 11.4 If the Introducer fails to make payment of the monies outstanding in accordance with clause 11.3 then LA will charge a late fee equal to 10% of the invoice total. The Introducer is also responsible on an indemnity basis for all legal fees, court costs, and related expenses incurred in the event payment is not made in a timely manner, and action is required to be taken by LA to collect monies owed In the event that the Introducer does not utilise the Vision system to submit applications, an additional charge of 2 plus VAT will be payable for each application which has to be processed by LA. 12 Miscellaneous 12.1 This agreement records and contains all the terms and conditions agreed between LA and the Introducer and supersedes any prior oral or written agreements, understandings or arrangements between LA and the Introducer relating to the subject matter of this Agreement. Neither party shall be entitled to rely on any agreement which is not expressly contained in this Agreement and no change may be made to it except in writing and signed by duly authorised representatives of both parties. Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

7 12.2 The arrangements contemplated by this Agreement are specific to LA and the Introducer and the rights and obligations created by this Agreement may not be assigned to any other party. Without prejudice to the generality of the foregoing, the Introducer may not delegate or sub-delegate any of its rights or obligations under this Agreement to any third party whatsoever without the express prior written consent of LA Any failure on LA s part to take advantage of a breach of this Agreement by the Introducer shall not be deemed to constitute a waiver of any of LA s rights to enforce the terms and conditions of this Agreement whether arising by virtue of that breach or otherwise Nothing in this agreement shall confer or purport to confer on any third party any benefit or the right to enforce any term of this agreement If any provision of this Agreement shall be found by any court or administrative body of competent jurisdiction to be invalid or unenforceable in whole or in part such invalidity or unenforceability shall not affect the other provisions of this Agreement which shall remain in full force and effect. Appendix A LA products and cover approved for the introducer: Landlords Buildings Contents Emergency Assistance Tenants Tenants Contents Guidance Note - Important information about Insurance With affect from 14 January 2005 all activity relating to the sale or administration of a general insurance contract has been regulated by the FCA. From this date it has been illegal to engage in general insurance activity unless you are directly authorised by the FCA or exempt from authorisation. LA is an Appointed Representative of Advent Solutions Management Limited who are authorised and regulated by the FCA (FCA Reg. ). Becoming an Introducer To become an Introducer, you will complete a simple application form and details of what you can and cannot do under this appointment. Please remember that as an introducer you are not permitted to engage in any general insurance activity, this includes handling any insurance claim for your landlord and you cannot arrange rent guarantee on their behalf. Pricing Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let

8 LA services for Tenant Assessment and Rent Guarantee will be in accordance with the pricing guide which is available to download from the Agent Downloads section of the Vision online system. A copy of these prices is also available on request. Introducer Only Letting Agent Permissions Agents are allowed to: Hand out or display product leaflets / business cards Direct Landlords and Tenants to for quotes Provide Let Alliance contact details in order for the Landlords and Tenants to contact us. Agents are not allowed to: Provide Let Alliance with leads or contact details Apply online on the Landlords / Tenants behalf Call Let Alliance for a quote on the Landlords / Tenants behalf Advise on or recommend our products Let Alliance Registered Number Registered Office: Let Alliance Ltd, Let