Terms of Business

Price Watch Agency Ltd

3 Watt Avenue, Stepps, Glasgow, G33 6GH

Telephone/Fax: 0845 838 6959

E-mail: info@pricewatchagency.co.uk

1)       Our Firm
Price Watch Agency is a firm specialising in offering independent advice for our clients wishing to purchase life or other forms of protection cover.

2)      We may also give advice on Bank and Building Society accounts, National Savings Investments and unregulated collective investment schemes. If you make a valid claim in respect of these investments that we have arranged and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme. Details of the cover will be provided upon request. Further information is available from the FSA and the Financial Services Compensation Scheme Ltd.

We offer an execution only service for clients wishing to purchase protection products, which means that we do not offer any advice and all instructions are accepted on this basis. Should you wish advice on any aspect of such a transaction, this will be provided by our sister company Mackintosh Cunningham Consulting Ltd, which is authorised and regulated by the Financial Services Authority

We are bound by the FSA's Rules.

3) Our services
We confirm that we will be happy to act on your behalf with your protection objectives. We are not tied to one insurance company and we are therefore able to survey the whole market in order to find the most suitable product for you. If an occasion arises where we or one of our other clients has an interest, or we become aware of such interests in the business we are arranging for you which may conflict with yours, we will disclose this interest to you in writing and obtain your consent before carrying out your instructions.

4) Our dealings with you
We normally ask our clients to give written instructions before we act for them but, at our discretion, oral instructions will also be acceptable. We would expect you to confirm this in writing. Any advice we give you will normally be in writing.
Once we have arranged the protection product for which you have given us instructions we will not provide you with further advice unless requested, at which time we will be happy to do so.

5) Termination
Our authority to act on your behalf may be terminated at any time, without penalty, by either of us giving the other written notice to that effect. Such termination will be without prejudice to either party's obligations to complete transactions already initiated on your instructions whether written or oral.

6) Remuneration
We derive our income from commission paid to us by the providers we place your protection business. We will tell you the amount of commission we receive on any such product on request. We reserve the right to act as an agent for third parties and to share commission received with them.
If, instead of relying on commission, we propose to charge you a fee, we will agree with you in writing beforehand how it will be calculated.

7) Transaction records
We will account to you for transactions effected on your behalf either by means of a contract note, or by providing documents of title or certificates evidencing title.

We will supply, on request, to you or your appointed agent contract notes, vouchers and copies of entries in our manual or electronic records relating to your transactions. We undertake to maintain such records for six years from the date of each transaction. We treat all client records as confidential. By signing a proposal or application form you give authority for us to pass the information contained therein to the product provider concerned.

8) Complaints
We take every care to provide the highest standards of service. However, in the event of a complaint, you should contact our designated Compliance Oversight Officer who will acknowledge the issue and send you a copy of our internal complaints procedure. The matter will be investigated in line with our procedures and our findings reported to you. If you are still not happy with the outcome, you then have to right to forward any eligible complaint to the Financial Ombudsman Service and the details on how to do so will be sent to you.

9) Client money
WE DO NOT HANDLE CLIENTS' MONEY. We never accept a cheque made out to us (unless it is in settlement of charges for which we have sent you a bill) or handle cash.

10) Policy Documents
All plans will be registered in your name unless you instruct us otherwise in writing. We will forward to you all documents showing ownership of your protection plan as soon as practicable after we receive them; where a number of documents relating to a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you.

11) UK Money Laundering Regulations
We are obliged to conform with the UK Money Regulations 1993 and also adhere to the guidance notes from the Joint Money Laundering Steering Group which require financial institutions to verify the identity and place of residence of each investor. We will also request that you inform us how any monies being invested were obtained/accumulated. This process may require sight of certain documentation. If you provide false or inaccurate information and we suspect fraud or money laundering we will record this. We will not forward any applications or money to third parties/product providers until our verification requirements have been met. We take no responsibility for any delay in investing where money laundering verification is outstanding. In circumstances where sufficient verification is not received in a timely manner after we have received completed applications, the application(s) and any monies may be returned to you uninvested.

12) Confidentiality
It may be necessary for external professional advisers to inspect our records. We will not pass information relating to you to another party without your prior consent unless we are legally obliged to do so.

13) Data Protection
Information provided by you may be held, processed, disclosed and used by ourselves, professional advisers and any associated companies in servicing our relationship with you. However, strict confidentiality will be maintained at all times. It is understood that, unless you notify us otherwise, you agree to the storage, use and disclosure of such information. This information may be disclosed to third party product providers in the course of providing our analysis and servicing of our relationship with you. No information will be passed to another party without your prior consent unless we are legally obliged to do so. You also agree that for the purposes described above your data may be transferred to countries outside the European Economic Area (EEA). We may use and analyse your data, including the nature of your transactions, to provide you with information by post, telephone fax or e-mail to service and update you. If you would prefer to be excluded from these services, please write to us at 3 Watt Avenue, Stepps, Glasgow, G33 6GH

14) Safeguards
For your protection, we are licensed by the Office of Fair Trading under the Consumer Credit Act and registered under the Data Protection Act.