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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