In 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. This will be based on the predicted volume of business.
- 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 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
- WI may, at its discretion and without prior notice, adjust the amount of discount/commission if the volume of business differs from the predicted level,or for other commercial reasons.
- WI shall provide the Introducer with a logo and link that can be placed on the Introducer's website, and in marketing material and emails
- the Introducer agrees to publish the WI logo on its website
- the Introducer shall only use promotional material or provide information about the insurance that has been approved by WI. The Introducer indemnifies WI against any Claims received that are based on false and unauthorised information provided by the Introducer
- WI will send a report to the Introducer at the end of each month stating the number ofpolicies purchased via the Introducers link
- where payment is due this shall be paid directly into the bank or paypal 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.
Through the online submission of the Introducer application and its subsequent acceptance by WI both parties confirm that they have read, understood and accept these terms of business and have the authority to enter this agreement on behalf of the business.
