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Term of Business
In accordance with the Financial Services
and Markets Act 2000, we have set our Terms of Business out below, we
suggest that this is read in conjunction with the 'Terms and
Condition's and related plan specific documents.
Commencement of Terms of
Business
The Financial Services and Markets Act 2000,
requires that we explain the main aspects of the way we operate, and
how this affects you the client. This terms of business will be
effective from the date of receipt, but may be amended by us following
any initial interview intended to ascertain your current financial
situation, objectives and attitude to financial risk. Any amended terms
of business will be sent to you within 10 working days from the
interview date. However, irrespective of any amendments arising from
such interviews, we reserve the right to amend the terms of this
document without your consent but we will give at least 10 business
days notice before conducting relevant business, unless we consider it
to be impracticable to do so under the circumstances existent at that
time.
Client Monies
We hold your money on a risk transfer basis
as agent of the insurers in relation to premiums received by us, and
refunds payable to you. Receipt by us is deemed to be receipt by the
insurers. All payments for premiums must be made payable to Journeyman
Services Ltd.
Insurance Objectives
Following the issue of this document, any
subsequent advice or recommendation offered to you will be based on
your stated objectives, and any instructions you wish to make regarding
the types of polices you are willing to consider. Details of your
stated objectives will be included in the Demands and Needs letter we
will issue to you confirming the reasons for our recommendations.
Restrictions
Unless advised to the contrary, we will
assume that you wish to place no restriction on the types of insurance
policies we may recommend and in which you may subsequently take out.
Further more, unless advised to the contrary
we will assume that you wish to place no restriction on the markets in
which transactions are to be executed.
A full listing of designated products are
available from an adviser upon request.
Classification of Clients
The Financial Services Authority (FSA) has
two classification of clients, retail and commercial. Different levels
of protection apply to each. We believe in providing you our client
with the full regulatory protection available and therefore we have
classified you as a retail client.
Client Relations
When you have instructed us to arrange a
specific contract no further advices will be given unless it is
requested by yourself or we have an agreement confirmed in writing to
provide periodic reviews. We will, however, if no agreement is in place
be pleased to advise you at any time should you require further
information of assistance.
Services which are not regulated by the
Financial Service Authority (FSA)
Some of the services provided by us may not
be regulated by the FSA since they are not included within the
Financial Services and Markets Act 2000. We will confirm to you what
these services are and the fact they are not regulated by the Financial
Services Authority (FSA)
Personal Interests
Occasions can arise where we, or one of our
other customers, will have some form of interest in business which we
are transacting for you. If this happens, or we become aware that our
interests or those of one of our other customers conflict with your
interests, we will inform you in writing and obtain your consent before
we carry out your instructions.
Telephone Calls
In addition to making calls at your express
invitation,we may call on you at intervals to review your general
insurance requirements. This will not affect your rights of
cancellation under the Financial Services (cancellation) Rules 1989.
Calls will not be made on a Sunday or Between 9pm and 9am on any other
day, unless prior arrangements have been made.
Right to Withdraw
Once your new product has been purchased,
you may have a statutory right of cancellation, details of which will
be given to you.
Advice and Instructions
Any advice given to you by us shall be in
writing. We prefer our clients to give us instructions in writing, to
aid clarification and to avoid future misunderstandings. We will,
however, accept oral instructions provided that they are confirmed in
writing. We may, at our discretion, refuse to accept instructions
although such discretion shall not be exercised unreasonably. We will
record all transactions on our files which, along with copies of
relevant documentation, will be retained by us for a period of not less
than six (6) years. You have a right to inspect copies of contract
notes, vouchers and entries in our books or computerised records
relating to your transactions. We reserve the right to withhold copies
of these records if information pertaining to other parties would be
disclosed.
Registration of Policies
We will register all polices in your name
unless otherwise agreed in writing. All contract notes and documents of
title in respect of your policies will be forwarded to you as soon as
possible after being produced. Where a number of your documents
relating to a series of transactions are involved, they will normally
be retained by us until the series is complete.
Termination
The authority to act on your behalf may be
terminated at any time without penalty by either party giving seven (7)
days notice in writing to that effect to the other, but without
prejudice to the completion of transactions already initiated. Any
transaction effected before termination and a due proportion of any
period charges for services shall be settled to that date.
Law
These terms of business are governed and
shall be constructed in accordance with English Law and the parties
shall submit to the exclusive jurisdiction of the English Courts.
Data Protection
Information provided by you may be held,
processed, disclosed and used by ourselves, professional advisers and
any associated companies in servicing our relationship with you.
However, strict confidentiality will be maintained at all times. It is
understood that, unless you notify us otherwise, you agree to the
storage, use and disclosure of such information. The information may be
disclosed to third party product providers in the course of providing
our analysis and servicing of our relationship with you. You also agree
that for the purpose described above your data may be transferred to
countries outside the European Economic Area (EEA). We may use and
analyse your data, including the nature of your transactions, to
provide you with information by post, telephone, fax or e-mail to
service and update you, as well as informing you of any new products
and services. If you would prefer to be excluded from theses services,
please write to us at the company address on this website/document.
UK Money Laundering
Regulations
We are obliged to confirm to the Proceeds of
Crime Act 2002 and Money Laundering Regulations 2003, and also adhere
to the guidance notes from the Joint Money Laundering Steering Group,
which requires financial institutions to verify the identity and place
of residence of each customer. We will also request that you inform us
how any monies were obtained/accumulated. This process may require
sight of certain documentation. If you provide false or inaccurate
information and we suspect fraud or money laundering we will record
this. We may not forward any applications or money to a third
parties/product providers until our verification requirements have been
met. We take no responsibility for any delay in arranging a product
where money laundering verification is outstanding. In circumstances
where sufficient verification is not received in a timely manner after
we have received completed application, the application (s) and any
monies may be returned to you.
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