Terms of Business
Terms of Business (Investment and Insurance Products)
Renaissance Endowment Review Services Limited (Also trading as Renaissance Easy Claim)
1.
Definitions
1.1
"Policy" means the policy forming the
basis of the Claim.
1.2
"Claim" means the claim that the Client
may have against the Provider relating to the missale of the Policy.
1.3
"Client" means the person or persons
entering into a Contract for the provision of Services by the Company.
1.4
"Company" means Renaissance Endowment
Review Services (Company Number 05184830) having its registered office at Elm
Tree, Southend, Marlborough, Wiltshire SN8 1SG including any of its trading
divisions, subsidiaries, holding companies or other subsidiaries of any such
holding companies.
1.5
"Contract" means the signed Authority and Agreement
between the Client and the Company relating to the supply of Services
incorporating these Terms of Business.
1.6
"Financial Ombudsman Service" means the
independent service for resolving disputes with financial firms provided by the
Financial Ombudsman Service of South Quay Plaza, 183 Marsh Wall, London E14 9SR.
1.7
"Provider" means the product provider, bank,
building society or independent financial adviser who is responsible for the
sale of the Policy to the Client and to whom the Claim is made and/or any agent
or authorised representative of them.
1.8
"Redress" means the compensation or
refund offered by the Provider in settlement of the Claim excluding the
surrender value of the Policy where this forms part of the Redress.
1.9
"Services" means all or any of the services
provided as detailed in the Contract.
2.
Services
2.1
Services the Company agrees to provide are:
2.1.1
acting as sole and exclusive agent of the Client
with general authority to process and administer a Claim to seek to obtain an
offer of Redress;
2.1.2
providing administrative support to the Client in
relation to a Claim;
2.1.3
sharing with the Client the Company's knowledge of claim
handling procedures as they may relate to the Claim; and
2.1.4
where the initial complaint is rejected by the Provider
or any offer of Redress is less than an amount that the Company considers fair
and reasonable, the Company will review the decision and, if appropriate, refer
the case to the Financial Ombudsman Service.
2.2
For the avoidance of any doubt, the Services shall
not include the provision of financial or legal advice.
2.3
Where the case is referred to the Financial
Ombudsman Service and is not upheld by them, the Company will not take matters
any further and this Contract will end.
3.
Fees and Disbursements
3.1
If the Company is unsuccessful in winning Redress
for the Client then, subject to paragraphs 7.2 and 7.5, no charge will be made.
3.2
The Company agrees to provide the Services for a
fee of 25% plus Value Added Tax (VAT), at the prevailing rate, of the Redress
offered.
3.3
If the Company secures an offer of Redress from the
Provider which the Company believes to be fair and reasonable and that offer is
rejected by the Client then the Company reserves the right to terminate this
Contract and charge its fee of 25% plus VAT of the Redress amount
3.4
The fee is payable on the later of 10 days of
receipt of the Company's invoice or 10 days of receipt of Redress. Where 3.3
applies, the fee is payable 28 days after the offer of Redress is received by
the Client.
4.
Debt Recovery
4.1
Late payment of any invoice will be subject to
interest applied on a daily basis at the annual rate of the base lending rate
of Lloyds TSB Bank plc subject to a minimum rate of 8%.
4.2
In the event the Company takes steps to recover any
fees or other amounts due to the Client it reserves the right to cover all
costs associated with the recovery, including but not limited to court fees,
bailiff fees and its own administration costs.
5.
Client's
Obligations. The Client shall
:-
5.1
provide the Company with all such material and
information requested or which the Client believes to be relevant to the Claim;
5.2
respond promptly to any requests for information
from the Company, Provider or Financial Ombudsman Service;
5.3
provide necessary authority for the Company to
perform the Services;
5.4
review, check, amend if necessary and accept
responsibility for documents prepared by the Company on behalf of the Client, and
sign and return them promptly to the Company;
5.5
inform the Company of any offer of Redress received
directly by the Client if the Company has not itself informed the Client of an
offer;
5.6
not authorise any other party to perform the Services;
5.7
ensure that all information provided to the Company,
Provider or Financial Ombudsman Service is complete, accurate and not
misleading; and
5.8
consider any offer of Redress made by the Provider
which the Company believes to be reasonable and, within 28 days of receipt of
an offer of Redress, either accept the offer or notify the Company that the Client
wishes to reject it.
6.
Limit of
Liability
6.1
The Company shall not be in any way liable for any
losses in the event that either the Provider or Financial Ombudsman Service judges
the Claim to be out of time.
7.
Termination
7.1
The Company may terminate this Contract at any time
where it believes that, due to material changes to circumstances surrounding
the Claim or regulation changes, the case is unlikely to succeed.
7.2
Where the Client fails to meet any of the Client's Obligations
set out in paragraph 5, the Company may terminate the Contract and reserves the
right to charge its reasonable costs.
7.3
Where the Company terminates the Contract under 7.1
or 7.2, it will inform the Client in writing.
7.4
The Client shall have the right to terminate the Contract
within 14 days of signing the Authority and Agreement and in that case shall
not incur any fee from the Company. Notice should be made in writing to the Company
and will be effective from the date posted by the Client. The Client should obtain and retain proof of
postage to verify the date posted.
7.5
The Client has the right to terminate the Contract
by providing the Company written notice at any time. If the notice to terminate
is received after 14 days of signing the Contract and before any offer of Redress
is made by the Provider, the Company shall charge reasonable costs associated
with the Claim, including costs for work performed by the Company. If the
notice to terminate is received after any offer of Redress is made or receipt
of any notification that the Claim has been upheld, the full fee of 25% plus
VAT of the Redress will be payable.
Furthermore if the Client terminates the Contract and subsequently
receives an offer of Redress in respect of the Claim made by the Company on the
Client's behalf, the Company reserves the right to charge the full fee of 25%
plus VAT of the Redress. The Company will confirm its charges on receipt of
notice to terminate.
8.
Law and Jurisdiction
8.1
The law applicable to this Contract shall be
English Law and the parties consent to the jurisdiction of the English courts
in all matters affecting this Contract.
9.
Data Protection
9.1
The Company will hold personal information in
accordance with the terms of its privacy policy which can be found on its
website at www.easiestclaim.co.uk.
Data is held in accordance with the Data Protection Act 1998.
9.2
Data collected by the Company during the course of
the Services will be used for the purpose of the Services. Where the Company
intends to use personal details to inform the Client about other services, it
will give the Client the opportunity to require that such information in not be
used in this way.
10.
Force Majeure
10.1
The Company shall not be liable for any delay or
failure to perform any part of the Services as a result of any factor beyond
its reasonable control.
11.
Internal Complaints
11.1
All complaints made about the Company should be
addressed to the Client Liaison Manager at the Company's address. The Company
will investigate the complaint in accordance with its internal complaints
process. This is available on the website at www.easiestclaim.co.uk and the Company
will also provide a copy on request.