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This agreement is between:
www.islamicmortgages.co.uk (IslamicMortgages)
and
The Introducer (As defined by the personal name or trading name of the business that you have entered on the registration form).
IT IS HEREBY AGREED as follows:
Definitions
1. In this Agreement unless the context otherwise requires:
"Introduced Clients" means clients that You have introduced to Us under this Agreement;
"Lender" means a financial institution to where loan applications are submitted;
"We", "Us", "Our" means IslamicMortgages,
"You" or "Your" means the Introducer.
Appointment
2.1 You agree to act as an introducer to IslamicMortgages of clients who do not require Advice from IslamicMortgages; IslamicMortgages does not give advice or will contact the clients directly.
2.2 Upon introducing a client to the IslamicMortgages, the client will be treated as a client of the IslamicMortgages; who will then pass the client onto the lender.
2.3 The Introducer must fulfil the requirements laid down by its own regulatory or professional body, as appropriate, with regard to the disclosure, compliance, data protection and any advice which they give.
Authority
3.1 You are authorised to effect introductions to IslamicMortgages, an introduction means passing to us customer's contact details.
3.2 You will be permitted to distribute promotional material that has been provided by us. You may only advertise on our behalf, use our name, brand or trade names, trademarks or logos, with our written permission.
3.3 You will not be permitted to carry out any of the following activities:
3.4 issuing any other IslamicMortgages literature to a client, other than approved promotional literature.
3.4.1 Forwarding any forms to the Lender.
3.5 You will not:
3.5.1 Assign this agreement or any part of it;
3.5.2 Delegate any of your responsibilities under this Agreement to a third party or appoint an Introducer.
Introducer Commissions
4.1 IslamicMortgages shall pay to the Introducer (all payments are inclusive of VAT) upon completion of each case.
4.3 All Introducer Commissions will be paid to the registered name or trading name.
4.4 It is your responsibility to ensure that we hold up to date and correct payment details. We will not be responsible for any information which has been incorrectly specified to us by you.
4.5 IslamicMortgages cannot accept leads submitted where IslamicMortgages, is already in possession of the details supplied directly to us or by way of an alternative supplier. In this case any commission earned on such leads will not be subject to the commission terms.
Termination
5.1 The Introducer's appointment under this Agreement shall be terminable on thirty days notice in writing by either Party.
5.2 The Introducer's appointment under this Agreement may be terminated, or the terms varied by the IslamicMortgages, earlier than the date specified in Clause 5.1 where such termination or variation is required by FSA Rules to take effect at such earlier date. Otherwise no amendment or variation of this Agreement shall be effective unless it is in writing and signed by or on behalf of each of the Parties.
5.3 Either Party will have the right to cancel this Agreement with immediate effect in the event of evidence or reasonable suspicion of the following circumstances in respect of the other:
5.3.1 Fraud;
5.3.2 Civil/criminal charges material to the operation of the business under the terms of this Agreement;
5.3.3 Any breach of this Agreement.
5.4 In the event of death, bankruptcy, winding up or making an arrangement or composition with creditors, becoming resident outside the United Kingdom or (being a company) changing its place of registration or have its ownership or control altered without prior notice, this Agreement will automatically come to an end.
5.5 Termination of this Agreement under Clauses 5.1, 5.2 or 5.4 shall not affect the rights or obligations of either Party in respect of Introduced Advice already undertaken or clients already introduced.
General
6.1 Save where the context otherwise requires, a person who is not a Party to this Agreement shall not be entitled to enforce any of the terms of this Agreement under the Contracts (Rights of Third Parties) Act 1999.
Notices
7.1 Each Party shall notify the other immediately in writing of any changes to its circumstances including but not limited to change of address, legal entity, trading status, engaging other business activities, change in related regulated activities or other material facts.
7.2 Any notice or other document to be given under this Agreement shall be in writing and shall be sent by first class post or other fast postal service or by facsimile transmission to, in the case of the IslamicMortgages,, its registered office for the time being and in the case of the Introducer either to the address shown on the face of this Agreement or to the Introducer's last known place of business.
Jurisdiction
8.1 This Agreement shall be subject to the laws of England and Wales and the Parties irrevocably submit any dispute arising out of or in connection with this Agreement to the exclusive jurisdiction of the Courts of England and Wales.
Compliance
9.1 Both Parties will comply with all legal and regulatory requirements as are applicable to their obligations under this Agreement and will co-operate fully with each other for the purpose of such compliance.
