TERMS OF BUSINESS FOR INTRODUCERSIn the event that Westminster Insurance Ltd (WI) and a third party agree that WI shall become a Resource Partner of the third party and the third party shall become an Introducer of business to our company, the terms of our agreement are that:-
- the introducer must not ‘advise’ prospective customers on the insurance product or its suitability, and the prospective customer should be made aware that there are other providers of this type of insurance
- WI shall agree a total amount of discount and/or commission that is available to the Introducer
- the introducer will determine how much of this discount is to be passed on to the end customer (the purchaser of insurance) and how much is to be paid to the Introducer in recognition of the introduction
- the Introducer shall provide WI with its business logo/graphic which the Introducer confirms it (and in turn WI on its behalf) has authority to use and does not infringe the copyright of others. The Introducer indemnifies WI against any loss should this be claimed otherwise.
- WI shall provide the Introducer with a logo and link that can be placed on the Introducer’s website and marketing material, and used in emails
- the Introducer agrees to publish the WI logo on its website
- WI will send a report to the Introducer at the end of each month listing all policies purchased via the Introducers link
- where payment is due this shall be paid directly into the bank account nominated by the Introducer
- WI and the Introducer have the right to terminate this agreement at any time by giving written notice to the other party. No notice period is required.