Definitions
"The Company" refers to Acacia Loans Limited, whose trading office is Upper Floor, 8 Trelowarren Street, Camborne, Cornwall, TR14 8AA.
"Introducer" refers to the user of Acacia Loans Limited.
Introducer shall at all times:
Conduct their business fairly and responsibly.
Comply with all relevant legislation including the Consumer Credit Act 1974, the Financial Services and marketing Act 2000 and related statutes in particular the Financial Services Authority (FSA) and the Data Protection Act 1998.
In cases involving non status borrowers, comply in all respects with the Office of Fair Trading's guidelines for lenders and borrowers issued November 1997. Further the principles of good business practice contained in these guidelines should also be applied to all other aspects of the business.
The Introducer under takes that he/she:
Has at the date of this Agreement, and will at all times make all necessary notifications to the Office of Information Commissioner and that the Introducer will at all times comply with the provisions of the Act.
Will not use or process data in relation to which the company is the data controller for any purpose save for monitoring the progress of it's clients' loan applications or for such purposes as The Company may agree in writing unless the Introducer has the explicit consent of the individual to whom the personal data relates to use the same for other purposes.
Will keep secure (as provided by the act) all personal data in relation to which The Company is the data controller and which the Introducer processes and will take all such security measures as are required under the Act.
Consents to and has explicit consent from each relevant individual to communicate/transfer that individual's personal data to The Company and for The Company to use/process the same, by any medium, or in connection with the application for processing any loan/mortgage.
The Introducer is further obligated and responsible:
To ensure that they hold a current Consumer Credit License covering all the names in which the Introducer trades and all categories of licensing activity. Loss of, or variation to the license must be notified in writing to The Company, including any variation to the Introducer's trading name, style or address.
Introducer's must ensure that all marketing material, promotional literature, advertisements and websites are fair and reasonable, do not contain any false or misleading information and comply with the relevant laws and legislation.
The Introducer hereby acknowledges that he/she is not authorised to use the name of The Company in any advertising material, including websites, unless otherwise agreed to in writing by The Company.
Service level:
Introducers agree that they will provide The Company with enquiries for secured loans. The Introducer will complete an initial fact find from which The Company will allocate the deal (if possible) to one of their panel lenders. The Introducer understands that The Company will contact the client to agree the deal, and process the application through to completion at which point The Company will forward the Introducer's commission via cheque within 7 days of receiving it themselves.
The Introducer undertakes to keep any information relating to the operations of The Company confidential and not to disclose the same to any third party without the consent of The Company during or at any time after termination of this Agreement. The Company will likewise not disclose any information of a confidential nature relating to the Introducer's business to any third party.
Nothing in this Agreement will constitute or be deemed to constitute a partnership, nor to create the relationship of employer and employee between The Company and the Introducer.
The Introducer has no authority or power to bind The Company nor contract in the name of or create any liability of The Company in any way.
Terms relating to commission or other payment from The Company to the Introducer shall be separately agreed and recorded. If a client cancels a loan or their insurance following completion of their loan then in some instances you will be required to immediately repay the amount or any overpayment of commission.
The Company reserves the right to amend these terms and conditions without notice but will endeavour to provide at least 5 working days notice prior to changes.
This Agreement can be terminated by one months notice given by one party to the other. It shall be terminated summarily without notice but without prejudice to accrued rights if either party commits a breach of any of the provisions of this Agreement and fails to remedy the same within five working days of written notice to do so.
This Agreement shall be governed by the laws of England and in the event of any dispute the parties hereto submit to the jurisdiction of the English Courts.