Introducer Agreement

Date

Between Pete Burgess of The Finance Planning Group Limited, Hurstwood Grange, Hurstwood Lane, Haywards Heath, RH17 7QX.

(“The Company”).

And

 

(“The Introducer”).

It is hereby agreed as follows:

APPOINTMENT

In consideration of the Company paying the Introducer “insurance commission” and “mortgage procuration fees” as set out below, the Introducer agrees to provide the services in accordance with the terms of this agreement.

SERVICES AND COMPLIANCE

The services the Introducer will provide shall be the introduction of potential clients to the Company. The Company will provide the Introducer with the resource of a Mortgage & Protection Adviser (the Adviser), and arrange cover in the event of sickness or holidays of the Adviser.

The Introducer will perform the services with reasonable skill, care, and diligence and in the course of doing so at all times act in accordance with the rules laid down under the Financial Conduct Authority’s (FCA) Mortgages Conduct of Business (MCOB) and Insurance Conduct of Business (ICOB), and the Company’s “introducer compliance manual”, and any such other requirements as may be imposed by the Company or regulatory authorities at any time.

The Introducer will follow all Compliance instructions issued by the Company.

The Introducer will indemnify the Company from and against all liability incurred by the Company resulting from the Introducer’s breach of the terms of this Agreement, negligence, fraud, or breach of any British Law, or breach of the FCA’s MCOB or ICOB, or breach of the Company’s “introducer compliance manual”.

MORTGAGE PROCURATION FEES

The Mortgage Procuration Fee relates to the Procuration Fees received from Lenders, but not any Broker Fees charged by the Adviser. The Company will pay the Introducer XX% of the Adviser’s remuneration in respect of Mortgage Procuration Fees on all new business only introduced to the Company by the Introducer.

INSURANCE COMMISSIONS

All Commission paid to the Introducer by the Company in respect of the business procured under this Agreement will be XX% of the Adviser’s remuneration and paid on an indemnity basis and subject to claw back. Commission will only be payable to the Introducer upon the completion of the business concerned. The Introducer will be responsible for repaying to the Company any Commission in respect of business procured in accordance with this Agreement and advanced to the Introducer, but which has not yet been earned, at any time upon request by the Company. The Introducer will indemnify the Company against any Commission clawed back from the Company in respect of business procured under this Agreement for which the Introducer is responsible. The Commission refers to Life commissions and G.I. commissions.

PAYMENTS

The Company will make Mortgage Procuration Fee and Insurance Commission payments to the Introducer monthly in arrears, payable on or around the 20th of the following month. The commission payments will be on an indemnity basis as mentioned above. The Company will provide a statement showing a breakdown of any payments made.

NATURE OF RELATIONSHIP

For the avoidance of doubt the Introducer shall provide the services as an independent contractor as a sole trader, partnership, or limited company basis only, and this Agreement creates no relationship of partnership or employment between the parties. The Introducer shall be responsible for all income tax and National Insurance Contributions in respect of commission and mortgage procuration fees received under this Agreement, and agrees to indemnify and hold the Company harmless against any claims that may be made by the relevant authorities against the Company in respect of PAYE Tax or National Insurance Contributions relating to the Introducer’s services hereunder.

TERMINATION

This Agreement shall continue in full force and effect until such time as it is terminated by either party upon giving of one-month written notice.

RECORDS & CONFIDENTIALITY

All client records, files and documents relating in any way to the business conducted under this Agreement shall remain at all times the property of the Company. The Introducer agrees to keep confidential, and not disclose, any information that comes into its possession, which relates to the performance of its duties under this Agreement.

 

SIGNED …………………………………………………………………….DATE……………………
PRINT NAME……………………………………………………………., for The Company
SIGNED …………………………………………………………………….DATE……………………
PRINT NAME……………………………………………………………., for The Introducer
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