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Affiliates Scheme

If you are interested in offering this rent protection insurance scheme to your clients, B. Portwood & Co Ltd are able to offer it to Firms or Individuals who are not directly authorised by the Financial Conduct Authority.

Further Details

  • Firms/ individuals will be appointed as Introducers or Introducer Appointed Representatives.
  • This means that you are not able to give advice about the product.
  • As an introducer you will be able to provide literature to clients
  • As an Introducer Appointed Representative you will also be able to contact us so we can arrange cover for clients on your behalf and a website link. An agency agreement will be necessary.
  • You may select from three commission levels - up to 35%. The standard rates are £4.5%, £5.5% and £6.5% respectively - with discounts for accident/ sickness only cover or unemployment only cover.

Terms of Business Agreement - Introducer Appointed Representative - Sample

 

This agreement, made between B. Portwood & Co Ltd” and                                                              

 

.

 

the “Introducer” is to take effect from the date shown in, and between the parties listed in the schedule “Schedule” below.

 This agreement replaces and supercedes any previous Introducer or Agency agreements with B. Portwood & Co Ltd

 “B. Portwood & Co Ltd” is Authorised and Regulated by the Financial Conduct Authority “FCA”.  ITS FIRM Reference Number is 300694 

 “B. Portwood & Co Ltd” markets a range of General Insurance policies.

 This agreement will be terminated if at any time “B. Portwood & Co Ltd”’s or the “Introducer”’s authorisation from the “FCA” is suspended, withdrawn or cancelled.  It may also be terminated by either “B. Portwood & Co Ltd” or “the Introducer” giving thirty (30) days notice in writing to the other to that effect.

 Termination shall not affect the rights and obligations of either party in respect of business already completed by “B. Portwood & Co Ltd”.

 “B. Portwood & Co Ltd” AGREES:

… to service the “Introducer”’s Clients in a manner consistent with B. Portwood & Co Ltd Initial Disclosure Documents which is issued to each client “Client” introduced to B. Portwood & Co Ltd by “the Introducer”.  A copy of this document is available upon request.

 

… to pay the “Introducer” a share of commissions received from any Insurance Company which relates to business transacted on behalf of the “Client” at a rate which will be communicated to the “Introducer” from time to time.

 

THE INTRODUCER SHALL:

… provide sufficient information on the “Client” to enable “B Portwood & Co Ltd” to contact the “Client”.

… co-operate fully with any investigation into any complaint received.

… not hold out the “Introducer” or his/her connected business as having any relationship with “B. Portwood & Co Ltd” other than that of an “Introducer” of existing or potential “Clients”.

 … not advise “Clients” in the name of B. Portwood & Co Ltd” nor complete application forms to any Insurance Company on behalf of “B. Portwood & Co Ltd” or “the Client”.

 … understand and agree that should any Insurance Company reclaim any commission already paid, for whatever reason, the “Introducer” must make a full repayment to “B. Portwood & Co Ltd” within thirty (30) days of a reclaim, by deduction from the next payment.  If the next payment is insufficient to cover the reclaim, then the “Introducer” shall make repayment to “B. Portwood & Co Ltd” at that time.

 … return any stationery, brochures or sales literature (issued by “B. Portwood & Co Ltd” to the “Introducer”) to the offices of “B. Portwood & Co Ltd” upon termination of this agreement. 

 

The Schedule to this Agreement

B. Portwood & Co Ltd

 

 

We agree to be bound by the above terms

 

Signed   

Print Name:                  John Portwood

Position:                                       Director.

 

for B. Portwood & Co Ltd

 

Dated:                                           October 18th 2006.

 

 

We agree to be bound by the above terms

 Signed

 Print Name:

Position:

 for

 

Dated

 

 

Agreed commission rates at outset:

 

Payment Protection Insurance                             20%, 27.5%, 35%

Introducer AR number ………………………………………….

Introducer’s details:

 Name ……………………………………………………………….

 Firm ………..……………………………………………………….

 Address ……………………………………………………………

 ……………………………………………………………………….

 Postcode …….                       Telephone: ……………………

 e-mail ………………………………………………………………

 FCA Number ………………………………………………………

 FCA Register entry date ………………………………………….

 FCA Register Form Number ……………………………………  .     FCA Register Form Reference ………………………………...

Please contact John Portwood on 0844 8262616 if you have any further questions.