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We care passionately about helping people protect their livelihoods and things they love, and we hope it shows in the way we work with you and your clients

Working with LV=

As the UK's largest friendly society we're here to help you make the best choices when it comes to your clients. With a range of protection, retirement and investment products that are both good value and award-winning, we're bound to have something to interest you.

We’ve been providing financial stability to our customers since 1843 as Liverpool Victoria, and we’re fully committed to the intermediary market. By working with us, you will get the support you can expect from a respected provider.

We're all about helping people protect and provide for the things they love. It's something we care passionately about and we hope it shows in the way we work with you and your clients.

As the UK's largest friendly society we're here to help you make the best choices when it comes to your clients. With a range of protection, retirement and investment products that are both good value and award-winning, we're bound to have something to interest you.

When we started in 1843 as Liverpool Victoria, our goal was to give financial security and peace of mind to more than just a privileged few. And today it's much the same.

As a mutual, we don't have to answer to external shareholders – so we can concentrate on looking after you.

Working with us

Being a well respected provider isn’t just about the right product – it’s also about offering the right support. We're committed to the intermediary market and want to be out there to offer you the support, training and development and technical guidance you would expect from a well established provider.

Together with our comprehensive range of Protection and Retirement products, our dedicated team aim to help you protect your client and look after their future.

Treating customers fairly

As a mutual provider, we put our customers at the heart of everything we do.

Whether it’s product design, the look and feel of our literature, or our customer service right through to our claims process we think of our customers every step of the way.

Some of the ways we demonstrate treating customers fairly include:

  • all staff complete TCF training which forms part of their ongoing objectives
  • we produce easy to understand literature for both advisers and clients
  • we carry out Customer Risk and Suitability Assessments during all ongoing and new product development
  • we commission regular customer research both through our own member research community and through independent research agencies
  • we take part in the ABI's Customer Impact Scheme

LV= helpline and more

Every client who takes out (covered by) one of our personal and business protection and retirement products, becomes a member of LV=, and will be entitled to a range of value-added benefits and support. These include free and unlimited access to our confidential LV= Health and Wellbeing helpline, as well as generous discounts on a number of LV= insurance products.

LV= Health and Wellbeing Line

Exclusive to members and their families, the LV= Health and Wellbeing line is available 24 hours a day, seven days a week, offering free and unlimited access to nurses, trained counsellors and lawyers.

Your client will have access to a team of medical professionals around the clock, with no limit on how many times they use it.

Key benefits

Your client and their family will be able to speak to our team of qualified doctors and nurses, who can offer practical help on anything they’re worried about, including:

  • If your client’s been diagnosed with a specific illness or injury, our medical experts can advise them on what to expect. GPs and consultants don’t always have the time to explain everything in detail, so the helpline can be used to explore diagnosed conditions further
  • The team running the helpline can supply supportive literature, and provide details of local hospitals and treatment centres
  • The helpline can supplement out of hours GP services, as your client will be able to speak to a nurse as soon as they need to, even if it’s outside normal working hours
  • Your client can also use the helpline for expert lifestyle and nutritional advice

How does this benefit me?

You can be confident you’re recommending a quality proposition and that LV= will be there for your client when they need it most. What’s more, you’ll be giving them something tangible for their premium that they can start using straightaway.

All members can use this service at any time - not just at the point of a claim (for protection customers).

Steven and Jack's story - child illness

Steven and Jack

This is simply an example to show just one of the ways the LV= Health and Wellbeing line could be used.

At around 10:30pm Saturday evening, Steven’s six-year-old son Jack came into his room to say he wasn’t feeling well. He had a raised temperature and felt sick. It was late and the family’s GP didn’t have an out of hours service available over the weekend.

Steven remembered the helpline he had access to as part of his LV= policy, so rang it. He was put through to a nurse straightaway who gave him practical advice on how to reduce Jack’s temperature and manage the sickness. The nurse advised him to go to A&E if he saw any deterioration in Jack’s health. Luckily, Jack’s temperature reduced and he was well again by the morning.

Paying for counselling can be very expensive, and waiting lists on the NHS are often long. But with the LV= Health and Wellbeing line, your client will be able to speak to a qualified counsellor whenever they need to.

Key benefits

Your client (and their family) can speak to a qualified counsellor on anything they’re worried about, including

  • Relationship difficulties, emotional problems, bereavement, family problems and stress or anxiety
  • The team can also suggest support groups and organisations which could help your client further

How does this benefit me?

You can be confident you’re recommending a quality proposition and that LV= will be there for your client when they need it most. What’s more, you’ll be giving them something tangible for their premium that they can start using straightaway.

All members can use this service at any time - not just at the point of a claim (for protection customers).

Lisa's story - coping with stress

Lisa

This is simply an example to show just one of the ways our counselling service could be used.

Lisa called the LV= Health and Wellbeing line because she was feeling continuously stressed and overwhelmed with life. She was able to speak to a counsellor straight away, who gently began to explore how her feelings were impacting her day-to-day life. Lisa explained that she had not been sleeping well for several weeks and as a result was feeling tired all the time, leaving her with very little energy at work. Her work and personal relationships had begun to suffer.

Lisa felt that the counsellor offered a safe space for her to talk openly about her feelings. She valued the counsellor’s feedback and genuine interest, as she achieved the small goals they had set her to do between sessions.

These included;

  • setting clear boundaries between home and work
  • speaking to her manager about getting extra help with her project and reducing her workload
  • exercising on a regular basis and adjusting her eating and drinking habits

The legal world can often seem daunting and confusing, not to mention expensive if your client needs to speak to a solicitor. But with the LV= Health and Wellbeing line, your client can speak to our team of fully qualified solicitors and legal executives, without the associated costs.

Key benefits

The team will be able to advise your client on a range of legal matters, including:

  • All areas of UK law, including Scottish and Irish legislation (which is different to English and Welsh law)
  • Our team of solicitors can offer practical advice on general law, property-related issues, will and probate, matrimonial conflicts, as well as employment and family legislation. Typically, a family lawyer will only specialise in one or two areas of law, so the helpline can also complement any existing support already in place.
  • The average ‘charge-out’ rate for a solicitor can be anything from £180-£250ph, but members can speak to a solicitor via the LV= Health and Wellbeing line at no cost, and at a time convenient with them
  • Ultimately, everyone will need legal advice at some point in their lives, and members can get it for free with LV=

How does this benefit me?

You can be confident you’re recommending a quality proposition and that LV= will be there for your client when they need it most. What’s more, you’ll be giving them something tangible for their premium that they can start using straightaway.

All members can use this service at any time - not just at the point of a claim (for protection customers).

Individual support services

Health and medical matters

Our health and wellbeing support services provides your client with access to confidential help and advice on many issues relating to their general health and wellbeing. This service is provided by a team of qualified nurses, who also have access to doctors where required.

Your client can discuss health and lifestyle issues, medical symptoms and worries with a sympathetic professional 24 hours a day, 365 days a year.

The Health and Wellbeing Service provides guidance and information on the following:

  • Medical Advice
  • Parental or Childcare
  • Elderly Care
  • Health and Lifestyle advice
  • Pre-travel advice

See examples of the type of support available

  • General medical advice, support and clinical guidance.
  • Hospital procedures, including preparations for tests and X-rays.
  • Patient pre and post treatment advice - do's and don'ts.
  • Medications for all medical and surgical conditions.
  • The rights of a patient and their family.
  • Location of specialist practitioners, hospitals and consultants.
  • The right questions to ask a doctor/consultant/hospital.
  • Details of local and national help and support groups.
  • The do's and don'ts of finding appropriate childcare.
  • Baby and child development.
  • Finding paediatric specialists in the local area.
  • Medical advice and guidance on all aspects of child illness and healthcare.
  • Information on a range of professional welfare organisations and societies related to parenting and children including teenage issues such as anorexia, drugs and alcohol, communication and dyslexia.
  • The do's and don'ts of finding appropriate care facilities, e.g. nursing homes, residential homes, hospices or home care.
  • The impact of the ageing process, common conditions and illnesses of old age.
  • Typical caring issues, e.g. disability aids, respite care, lifting, pressure sores.
  • Information and advice on a range of professional welfare organisations and societies who specialise in services and advice for the older generation.
  • Information on illnesses, conditions, tests and treatments.
  • Advice on a range of medical conditions such as allergies, high/low blood pressure, and how to deal with minor injuries or locating specialist consultants.
  • Practical advice on weight-loss and safe ways to diet, stop smoking, reducing alcohol intake, and exercising.
  • Advice on orthopaedic, musculoskeletal injuries and their treatment and assist with locating physiotherapists, orthopaedic specialists, osteopaths or podiatrists.
  • Provide support and reassurance e.g. if visiting a high risk country or zone.
  • Single source of reference for travel enquiries such as 'is a visa required?', 'what inoculations do I need?'
Other member services

As a member, your client will be entitled to discounts on our general insurance products, including LV= car, home, travel and pet insurance.

More information on discounts on our general insurance products

Your client will also be able to sign up to receive our member newsletters, which feature news from LV= and the opportunity to win prizes.

Once your client’s been a member for a year, they’ll be able to request financial assistance if they (or a family member) are struggling to make ends meet. Since 2001, we’ve helped hundreds of members by offering a financial helping hand as we understand sometimes people do fall on hard times, through no fault of their own.

This could include things like funding for specialist equipment following an accident, or adapting the home following the diagnosis of a serious illness. And the great thing about the fund is it’s managed by a small, independent committee of LV= policyholders who look at each individual request and decide whether a grant can be awarded.

Members are also invited to attend our AGM. Once your client’s been a member for 12 months or more, they’ll be invited to vote at the AGM.

LV= is a registered trade mark of Liverpool Victoria Friendly Society Limited and a trading style of the Liverpool Victoria group of companies.

All Protection, Savings & Investments Products

Liverpool Victoria Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035.

Retirement Products

Liverpool Victoria Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035.

Lifetime Mortgages

LV Equity Release Limited is registered in England No 1951289 and is authorised and regulated by the Financial Conduct Authority register number 306287.

Registered address for all companies: County Gates, Bournemouth, BH1 2NF. Tel: 01202 292333

LV= Doctor Services, LV= Member Benefits and LV= Business Care are provided by third party companies. These services are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

Updated August 2019

This Terms of Business Agreement is one of several documents which govern your relationship with us. This is a framework document which covers the general principles of the way we wish to do business with you. By submitting any business to us you are agreeing to the terms in this document.

This Terms of Business Agreement replaces any previous terms of business agreement you've had with us. Please keep this in a safe place for future reference.

Important Changes to Data Protection Laws

New rules relating to the collection and processing of personal data will come into effect in the UK from 25 May 2018. As a consequence We are making some changes to the terms of business agreement (TOBA) to align them with the new Data Protection Laws.

With effect from the 25th May 2018 these supplementary terms covering the new Data Protection Laws shall apply between You and Us in relation to the processing of personal data under the TOBA. These supplementary terms (except as set out below) will not otherwise restrict or amend the TOBA which are compatible with the new Data Protection Laws.

Supplementary Terms

1. In respect of personal data to be transferred between You and Us in connection with the business transacted under the TOBA each party shall be an independent data controller (as defined in the Data Protection laws).
2. In processing personal data each party shall comply with its obligations under the Data Protection Laws at its own expense.
3. Each party will provide the other party with reasonable co-operation and assistance in connection with any complaint or request made in relation to a Data Subject’s rights (including a request made in respect a Data Subject’s right of access and data portability, right to object, right to be provided with fair processing information and the data subject’s rights to rectification and erasure of their personal data.

Data Protection Laws means the General Data Protection Regulation (EU 2016/679) and all other applicable data protection, privacy and data security legislation and regulations, code of practice or guidance from the EU Commission and/or the Information Commissioner’s Office or other relevant authority responsible for data security and/or privacy.

Click the section headings to below to expand.

This section gives general details about this Agreement and who We will accept Business from.

1.1 Our intention and overriding aim is to write business with and provide support to quality advisers. However, as part of Our risk controls process We reserve the right, at Our absolute discretion, not to accept Business from You.

1.2 We won’t accept Business from You if You don’t have the correct permissions or if You stop being authorised for the purposes of the FSMA, or the Regulatory Handbook, or subsequent regulatory rules and regulations.

1.3 By accepting the terms of this Agreement You agree to embed and maintain the Treating Customers Fairly outcomes within Your business, and are able to evidence this in Your business culture and practices.

1.4 We won’t be responsible for any advice You give to a Client in relation to any Product You sell them under this Agreement.

This section gives some of the terms and their meanings whenever shown in bold in this Agreement.

Term

Definition

‘You’ or ‘Your’

The authorised firm identified in the registration form, which may also be acting as an investment manager on behalf of the Client.

‘We’, ‘Us’ or ‘Our’

Liverpool Victoria Friendly Society Limited or any company within its Group from time to time which are relevant to the Business written.

‘Advised Basis’

The arrangements of one of Our Products, for a Client, where You have provided advice in relation to that Product.

‘Adviser Charge’

A monetary fee that has been agreed between You and a Client in relation to the services and advice You are providing them.

‘Agent’

Any company, partnership or person who acts as Your agent or appointed representative in relation to the Business placed with Us.

‘Agreement’

This Terms of Business Agreement.

‘Another Adviser’

Any company, partnership or person who offers financial advice and is an authorised firm who has registered with Us and is also subject to this, or a similar Terms of Business Agreement.

‘Applicable Rules and Regulations’

Any rules, regulations, guidance, codes or principles, whether or not having the force of law issued by the Regulator or any other competent regulatory authority and any legislation or other law (including without limitation the FSMA) which governs the conduct by You of any transaction or Business contemplated by this Agreement.

‘Associated Person’

Any party that has material dealings, control or influence over the operation, management or business of the firm or individual.

‘Business’

The arrangement of one of Our products for a Client on either an ‘Advised basis’ or ‘Non-advised basis’.

‘Cancellation Agreement’

The part of Your Client Agreement that outlines the treatment of any agreed Remuneration, in the event of the cancellation of a Product or Service.

‘Client Agreement’

The agreement that You have between You and a Client that outlines the Services You will provide and the Remuneration You will receive.

‘Client’

Anyone that You or one of Your Agents act for in relation to one of Our Products, Policies or Services.

‘Commission’, `Indemnity Commission’, ‘Initial Commission’, or ‘Commission Via An Establishment Charge’

The amount payable by Us to You for the Business in the form of commission, (which is money paid to You out of product charges), as agreed from time to time when Business is initially written. Each of the terms `Indemnity Commission’, `Initial Commission’, or `Commission Via An Establishment Charge’ are just different types of commission, each of which are paid for out of product charges.

'Connected Person'

Your employees, Agents, spouse, partner or other relative of any such person.

'Data Subject'

As defined in the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679.

‘Fee'

The amount payable by Us to You in the form of a fee that We have been asked to pay on behalf of one or more Clients in accordance with the Agreement You have with them. This may include fees that are payable on the initial set up of the Business or regular fees payable throughout the term of the Product, Policies or Services. All fee payments will be a direct deduction from a Client’s fund or investment and are not payments made to You by Us.

‘FSMA’

The Financial Services and Markets Act 2000 as amended or replaced from time to time

‘Group’

In relation to a company this means:

  1. that company and any subsidiary company of that company
  2. the ultimate holding company of that company, and
  3. every other company which is a subsidiary company of the same ultimate holding company

in each case from time to time.

Holding company and subsidiary company are defined in section 1159 of the Companies Act 2006, as amended or replaced from time to time.

'HMRC Rules'

Any guidance provided by HM Revenue & Customs in relation to pension legislation, as amended or replaced from time to time.

'Investment Company'

Any third party investment provider allowed under the Product terms.

'Investment Trail Commission'

Any Commission received by You, from an Investment Company in relation to investments held under one of Our Products.

‘Intellectual Property Rights’

Patents, copyrights, trademarks, service marks, design rights, know-how, rights in computer software, websites, databases, rights in confidential information, trade and business names, domain names, logo’s and other rights of a similar nature, whether or not registered or unregistered and the goodwill attached to any of them and any rights or forms of protection of a similar nature which may subsist anywhere in the world.

‘Losses’

Any loss, liabilities, costs, demands, claims, actions, damages, expenses (including legal fees) or compensation to third parties.

‘Non-advised Basis’

The arrangement of one of Our Products for a Client where You have NOT provided advice in relation to that Product.

‘Non-advised Remuneration’

Any Commission, Initial Commission, Indemnity Commission, Commission Via Establishment Charge, Renewal Commission or fund based Remuneration paid in relation to business written on a Non-advised basis.

‘Ongoing Services’

Any ongoing service that You agree to undertake for a Client in relation to the Product, or any investment held under the Product.

‘Personal Data’ or ‘Sensitive Data’

As defined in the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679.

‘Post-RDR Remuneration’

Any Remuneration paid to You in relation to Products that are written in accordance with the rules introduced as part of the Regulator’s Retail Distribution Review that came into force on 31 December 2012.

‘Pre-RDR Remuneration’

Any Remuneration paid to You in relation to Products that are written on terms that applied before the Regulator’s Retail Distribution Review that came into force on 31 December 2012. This includes Remuneration such as Commission which can be paid to You on or after 31 December 2012 which isn’t affected by rules introduced as part of the Regulator’s Retail Distribution Review.

‘Product’, ‘Policy’ or ‘Service’

Any product, policy or service offered by Us from time to time.

’Regulator’

The Prudential Regulation Authority and/or Financial Conduct Authority in the UK, as applicable and any successor from time to time, or any other regulatory body which regulates Us or You.

‘Regulatory Handbook’

The relevant Handbook of rules and guidance as amended or replaced by the Regulator or successor from time to time. Unless the context otherwise requires words, phrases and the definitions in the relevant Handbook have the same meaning in this Agreement.

‘Repayable Commission’

The amount of Commission payable by You to Us for one of the reasons explained in section 3.30.

‘Renewal Commission’

The amount payable by Us to You for the ongoing renewal of Business as agreed from time to time.

‘Remuneration’

Payments made by Us to You that could be any one or a mixture of Commission, Initial Commission, Indemnity Commission, Commission Via An Establishment Charge, Renewal Commission, Fee or Adviser Charge.

This section tells You how We will pay You any Pre-RDR Remuneration, when We will pay You, and when You will need to pay Us back any money.

3.1 Subject to the terms of this Agreement, and in accordance with the Regulatory Handbook, We will pay You the agreed Remuneration, electronically to your designated UK bank account.

3.2 For protection, annuity, pensions, investments and lifetime mortgage business We will credit You or pay You Commission on all Business that You submit and We accept. This is set out in an accompanying commission schedule and as We agree from time to time. We will also credit or pay You Commission for Business submitted by Another Adviser if this is what they ask Us to do, as long as We are satisfied that no-one else has any valid claim to this Commission.

3.3 You can decide the form and amount of Remuneration We will pay You for pension Business (including the Protected Retirement Plan) We accept from You, as long as You tell Us in writing no later than when We receive a Policy application form. However, the form and the amount of such Remuneration must be within the parameters for that type of Product as We determine from time to time.

3.4 Unless You advise Us otherwise, We will process Remuneration on the basis that it is VAT exempt. It is Your responsibility to determine the VAT treatment of any Remuneration You receive and You must inform Us if VAT is to be included on the Remuneration amount.

3.5 If You ask Us, and We agree, We will pay You Indemnity Commission on terms agreed between You and Us.

3.6 If You ask Us, and We agree, We will pay You Commission Via An Establishment Charge on terms agreed between You and Us.

3.7 If You ask Us, and We agree, We will pay You Initial Commission by reducing the allocation rate applied to the Policy on terms agreed between You and Us.

3.8 If We pay You Initial Commission on different terms to those outlined in Clauses 3.5 to 3.7 above, You may not receive the full amount at the start of the Business. In this case, for Products that end when the person insured dies We will pay You the balance of Initial Commission (discounted at a rate of interest We determine from time to time) as a lump sum.

3.9 If the terms of the Product allow, We can agree to pay a Fee to You on behalf of a Client. This could include paying You a Fee for setting up the Product as well as a regular Fee for any on-going work You do for that Product.

3.10 Any Fee that We pay in accordance with section 3.9 will be referred to as an Adviser Charge and paid in accordance with section 4.

3.11 We will stop paying You any Fee if a Client asks Us, or if You tell Us that You are no longer acting on their behalf. We won’t be obliged to make any further payments, due or otherwise, if We do not have an expressed wish from a Client to do so.

3.12 If You change any Fee amounts a Client will need to confirm this in writing before We will make any payments to You from their Product relating to this change. You will need to comply with the requirements outlined in section 4.

3.13 We will only pay You any agreed Fee for work done by You for a Client relating to their Product.

3.14 You agree to promptly repay Us any overpayment of a Fee or a Fee We pay You in error.

3.15 We reserve the right to stop paying You Remuneration if You stop being authorised, stop trading, are subject to any of the circumstances in clause 7.3,or where You or a Client tells Us that You are no longer acting on their behalf.

3.16 You will notify Us if the Regulator suspends or threatens to suspend (or takes any similar action) Your status as authorised. In the event that the Regulator suspends or threatens to suspend (or takes any similar action) Your status as authorised, We reserve the right to stop paying You Remuneration until such actual or threatened suspension (or similar action) stops.

3.17 The Remuneration statement We give You (which may be sent to You in writing, on a disk, tape, direct on-line communication to computer terminal or any other method of communication agreed by You and Us) will be the conclusive record of Your Remuneration, save in manifest error. It’s Your responsibility to access and review Your Remuneration statement regularly and reconcile this to ensure that it is accurate and is consistent with Your own Remuneration records.

3.18 We will pay You Remuneration as agreed with You, but We may defer paying any Remuneration until a total of at least £50 is due to be paid, or such other amount as We determine from time to time.

3.19 You are responsible for the proper discharge of all obligations placed on You by the Regulator, the FSMA, the Regulatory Handbook, any mandatory or voluntary code of conduct in relation to a Client. In particular, but without limitation, You must tell a Client that Remuneration will be payable to You and give them written details of the Remuneration payable in cash terms before asking them to sign the Product application form. You must also give a Client any relevant disclosure documents as required by the Regulatory Handbook in respect of Your status and the cost of the provision of the services You provide.

3.20 Only Initial Commission is eligible for payment on indemnity terms.

3.21 Initial Commission may be paid to You (at Our absolute discretion (and without providing reasons for a refusal to do so), in advance of Your entitlement to it. It will be calculated and subject to discount in accordance with Our current practice at the time of payment and the Regulatory Handbook as amended or replaced from time to time.

3.22 Where indemnity terms apply, all premiums must be sent to Us without deduction of Commission. We won’t pay any Commission until We have received and accepted the first premium.

3.23 We won’t pay any Indemnity Commission on any Products taken out by You or any Connected Person (see also 5.21 below).

3.24 If either You or any Agent stops being an authorised person, or You tell Us that You are no longer acting on behalf of a Client, You should arrange for Another Adviser to give advice to that Client, if applicable. In such circumstances, as long as You tell Us in writing, We may at Our discretion transfer the payment of renewal Commission to Another Adviser provided they've accepted in writing any contingent liability to repay Us any unearned Indemnity Commission already paid to You and as long as We are able to do so in accordance with the Regulatory Handbook. Any regular fees paid under an existing Product will not continue to be paid to Another Adviser without written agreement from Your Client confirming that We are to pay those fees on their behalf unless 3.29 applies.

3.25 If You take over the business of Another Adviser, We may at Our discretion transfer the payment of renewal Commission to You providing You have accepted in writing any contingent liability to repay Us any unearned Indemnity Commission already paid to Another Adviser and as long as We are able to do so in accordance with the Regulatory Handbook. Any regular fees paid under an existing Product will not continue to be paid to You without written agreement from Your Client confirming that We are to pay those fees on their behalf unless 3.29 applies.

3.26 You are responsible for ensuring that You are entitled to receive, under the rules of the Regulatory Handbook and in accordance with Your Client Agreement, any ongoing Remuneration that You receive.

3.27 You undertake to inform Us as soon as possible if You are no longer entitled to receive the Remuneration as outlined in 3.26 and will return any over-payments to Us or if We agree, to Your Client.

3.28 If We receive written confirmation that a transfer of business has taken place in accordance with 3.24 or 3.25 We will take reasonable steps to inform any Investment Company of this change. We will not arrange for any Investment Trail Commission to continue to be paid. You must arrange this directly with the Investment Company, subject to clauses 3.26 and 3.27.

3.29 In circumstances where You have taken over a block of Business from Another Adviser, We may consider the transfer and continuation of ongoing Remuneration if You can provide Us with the information regarding the terms of the transfer. Such agreement for continuation of Remuneration may be for a limited period while You renegotiate Your Client Agreements.

3.30 You agree to repay the whole or proportionate part of Your Indemnity Commission received in respect of a Policy if:

  1. a Policy is either cancelled, or remains in force and the premiums We receive to which the Indemnity Commission relates are less than the anticipated premiums on which the Indemnity Commission is based, or
  2. a Policy is stopped (whether before or after this Agreement terminates) because no premium has been paid, or
  3. We refund the premiums to a Client as a result of a complaint by them about Your conduct or for any other reason, or
  4. We are compelled by the court or any relevant regulatory body to refund the premiums to a Client as a result of an upheld complaint by them about Your conduct

3.31 In the event that any of the circumstances set out in clause 7.3 apply to You, You agree to repay the whole or proportionate part of Your Indemnity Commission received in respect of a Policy.

3.32 If clauses 3.30 or 3.31 apply, You will have to repay this Commission promptly once We have given You written notice (at Your last known business address) of any of the above events. The repayment, which will be discounted at the same rate of discount as was applied to determine the amount of Indemnity Commission actually paid, will be calculated by reference to the anticipated premium payment term and the number of unpaid premiums in that period or the amount of premiums refunded as the case may be. We will send You a statement to show the amount You will need to repay.

3.33 You will need to:

  1. pay compound interest (unless We decide to waive this) on the outstanding Repayable Commission from the date of the notice referred to in section 3.32 of this Agreement (which shall give a reasonable time to pay) until You have started repaying it at a rate agreed by Us (as at the date of repayment), and
  2. pay Us for any reasonable legal or other costs We incur in the recovery of any Repayable Commission.

3.34 We may deduct any Repayable Commission from any Commission account We (or any predecessor in title to any of the companies within Our Group of companies) maintain for You in Your name. If this still results in a debit balance, You will need to pay Us the full outstanding balance plus interest and costs as described in section 3.33 of this Agreement.

3.35 Where Repayable Commission is due to Us, We will be entitled to suspend Commission payments which would otherwise have been paid to You. We will also be entitled to offset any Commission payable to You in respect of all or any Business against any Repayable Commission You owe Us.

3.36 We may vary or withdraw any rights You have got to receive Initial Commission on Indemnity Terms immediately once We have given You written notice (at Your last known Business address). You must then pay Us any Repayable Commission outstanding as at the date of such variation or withdrawal, together with interest and costs, as described in section 3.33 of this Agreement.

3.37 We reserve the right to require You to provide security, by way of bank or director’s personal guarantee or otherwise, in a form acceptable to Us to ensure repayment of any Indemnity Commission. If You refuse to provide such security We may decide to end this Agreement.

3.38 If We pay You Commission Via An Establishment Charge, this won’t be Indemnity Commission. We will deduct charges directly from the Product for this Commission in accordance with the terms agreed. If the Product is cancelled or considered void, You agree to repay Us any Commission amounts You have already received.

3.39 If We pay You Commission by reducing the allocation rate applied to a Client’s Policy, this won’t be Indemnity Commission. If the Product is cancelled or considered void, You agree to repay Us any Commission amounts You have already received.

This section tells You how We will pay You Post-RDR Remuneration, when We will pay You, and when You will be required to pay back any money to Us. This section only relates to Post-RDR Remuneration.

4.1 Subject to the terms of this Agreement, and in accordance with the Regulatory Handbook, We will pay You the agreed Remuneration electronically to your designated UK bank account.

4.2 Unless You advise Us otherwise, We will process any Adviser Charge You and a Client ask Us to facilitate on the basis that it is VAT exempt. It is Your responsibility to determine the VAT treatment of any Remuneration You receive and You must inform Us if VAT is to be included on the Remuneration amount.

4.3 For protection and lifetime mortgage Business We will credit You or pay You Commission on all Business You submit that We accept in accordance with section 3. The terms that will apply are set out in an accompanying Commission schedule and as We agree from time to time. We will also credit or pay You Commission for Business submitted by Another Adviser if this is what they ask Us to do, as long as We are satisfied that no-one else has any valid claim to this Commission.

4.4 For annuity, pensions and investments Business We will credit You or pay You a Non-advised Remuneration on all Business You submit that We accept, on a Non-advised basis, in accordance with the terms outlined in section 3 and as set out in an accompanying schedule or as We agree from time to time.

4.5 For annuity, pensions and investments Business We will facilitate an Adviser Charge on behalf of Your Client on all Business You submit that We accept on an Advised Basis in accordance with this section. The terms that apply in relation to the Adviser Charge must be set out in the Client Agreement or otherwise communicated to the Client and copies of this Agreement must be supplied to Us.

4.6 We reserve the right to refuse to facilitate any Adviser Charge for any reason and at any time. Reasons for refusing to facilitate payments include (but are not limited to) not having sight of a valid Client Agreement, being unable to facilitate payments on certain Product types, having concerns that such a payment is of an unreasonably high level or a concern that such a payment is not in line with the requirements of the Regulator, HMRC or DWP (Department for Work and Pensions).

4.7 You are responsible for ensuring that You comply with the requirements of the Regulator, HMRC or DWP in relation to any Adviser Charge that We facilitate and You must fulfil all Your obligations in relation to these charges.

4.8 You agree to ensure that any Adviser Charge made from a pension or annuity are strictly relating to advice given to a Client for that pension or annuity fund.

4.9 You agree that if any ongoing Adviser Charge is to be paid from any of Our Products, You will ensure that it relates to an Ongoing Service and You must advise Us immediately if this ceases to be the case.

4.10 Your Client Agreement must outline the situation that will apply in the event that a Client cancels the contract with Us. This Cancellation Agreement must include details of what will happen to any Adviser Charge We have already facilitated on a Client’s behalf.

4.11 We will not take any steps to recover an Adviser Charge already paid at the point of cancellation, but You must return any money to Us or the Client, if You are not entitled to retain it under the terms of Your Cancellation Agreement.

4.12 Any issues arising from an Adviser Charge paid under a contract covered by this Agreement will need to be addressed directly with the Client.

4.13 A Client will be responsible for any tax penalty that may apply in relation to a payment from a pension or annuity fund if the Adviser Charge is not made in accordance with HMRC Rules.

4.14 You agree that We do not need to make any alteration to an Adviser Charge until We have written confirmation from a Client and a copy of Your Client Agreement outlining the change.

4.15 Adviser Charge payments will cease immediately if We are asked to by a Client or if You inform Us that You are no longer acting on their behalf. We will not be obliged to make any further payments, due or otherwise, if We do not have an expressed wish from a Client to do so.

4.16 You agree to promptly repay Us any over-payment of Adviser Charge that has been made in error or that You are not entitled to. It is Your responsibility to identify any Adviser Charge that You are not entitled to and refund it to Us or directly to a Client if We allow You to do so.

4.17 We reserve the right to stop paying You an Adviser Charge if You stop being authorised, or stop trading, or where You or a Client tells Us that You are no longer acting on their behalf.

4.18 In the event that the Regulator suspends or threatens to suspend (or takes any similar action) Your status as authorised, We reserve the right to stop paying You an Adviser Charge until such actual or threatened suspension (or similar action) stops.

4.19 The Remuneration statement We give You (which may be sent to You in writing, on a disk, tape, direct on-line communication to computer terminal or any other method of communication agreed by You and Us) will be the conclusive record of your Remuneration. It’s Your responsibility to access and review Your Remuneration statement regularly and reconcile this to ensure that it is accurate and is consistent with Your own Remuneration records.

4.20 If either You or any Agent stops being an authorised person, or You tell Us that You are no longer acting on behalf of a Client, You should arrange for Another Adviser to give advice to that Client, if applicable. In such circumstances We will be unable to continue to pay an Adviser Charge unless We have had written confirmation and a copy of the Client Agreement from Your Client unless clause 4.25 applies.

4.21 If You take over the business of Another Adviser, We will be unable to pay You any Adviser Charge until We have had written confirmation from Your Client and seen a copy of the Client Agreement clause unless 4.25 applies.

4.22 You are responsible for ensuring that You are entitled to receive, under the rules of the Regulatory Handbook and in accordance with Your Client Agreement, any ongoing Remuneration, Renewal Commission or Investment Trail Commission that You receive.

4.23 You undertake to inform Us as soon as possible if You are no longer entitled to receive the Remuneration as outlined in clause 4.22 and will promptly return any over-payments to Us or if We agree, to Your Client.

4.24 If We receive written confirmation that a transfer of Business has taken place in accordance with clause 4.20 or 4.21, We will take reasonable steps to inform any Investment Company of this change. We will not arrange for any Investment Trail Commission to continue to be paid or otherwise. You must arrange this directly with the Investment Company, subject to clause 4.22 and 4.23.

4.25 In circumstances where You have taken over a block of Business from Another Adviser, We may consider the transfer and continuation of ongoing Remuneration if You can provide Us with the information regarding the terms of the transfer. Such agreement for continuation of Remuneration may be for a limited period while You renegotiate your Client Agreements.

4.26 You are responsible for the proper discharge of all obligations placed on You by the Regulator, the FSMA, the Regulatory Handbook or any voluntary code of conduct in relation to Your Clients.

This section tells You what You agree to do during the relationship We have with You, as well as what You agree not to do.

5.1 You must act lawfully, in good faith, with integrity and in a professional and diligent manner and agree to provide ongoing services to a Client in relation to the Business placed with Us.

5.2 You shall comply with the Applicable Rules and Regulations in the conduct of Your business in connection with this Agreement.

5.3 You will notify Us of any investigation by the Regulator into any matter involving You or any of Your employees, Agents or directors or of any action of a disciplinary nature by the Regulator involving You or any of Your employees, Agents or directors, if such investigation or action will have an adverse material effect on Your ability to perform Your obligations under this Agreement and You are not prohibited by the Regulator or any Applicable Rules and Regulations to do so. Failure to notify Us of such circumstances shall be a breach of this Agreement and We shall be entitled to treat it as such.

5.4 You shall indemnify Us before and after termination of this Agreement against any Losses incurred or suffered by Us as a result of any failure by You to comply with Your obligations under clauses 5.2 or 5.3

5.5 For the purpose of this Agreement You are the Agent of a Client in relation to all aspects of the Business, but also have personal responsibilities to Us as set out in this Agreement.

5.6 Unless otherwise prevented from doing so for legal or regulatory reasons You must tell Us immediately of any changes to Your legal status (for example a change of legal entity or change of control) or any significant business events which could have an impact on Us (for example if You lose any data relating to any of Your Clients that have one of Our Products).

5.7 You must at all times have appropriate permissions, authorisations and consents to carry out Business and any Agent must have been appointed under a contract with You in compliance with the FSMA. For the avoidance of doubt You will be fully responsible and liable for the acts and omissions of Your Agents. You agree to tell Us immediately:

  1. If You receive notice that a relevant regulatory authority suspends, cancels or withdraws Your authorisation or alters Your permissions or gives notice that it intends to suspend, cancel or withdraw Your authorisation or alter Your permissions, or
  2. Any contract with an Agent who maintains Business with Us or not, stops for any reason.

5.8 Subject to receiving express consent from a Client and upon a Client’s nomination We may make administrative arrangements under a Client’s Plan with third parties.

5.9 If We receive consent from a Client, and the terms of their Product allow it, We may allow You to give Us investment/dealing instructions on their behalf.

5.10 If We receive consent from a Client, and the terms of their Product allow it, We may allow You to provide investment/dealing instructions directly to third parties.

5.11 If We agree to either or both of the actions in clauses 5.9 and 5.10 You must ensure at all times that any instructions You give are in strict accordance with the terms and conditions of the Product and that You have fulfilled all Your obligations in order to comply with the FSMA, the Regulatory Handbook and HMRC Rules. You agree to keep Us indemnified for any Losses which We may suffer as a result of You failing to seek consent from a Client with regard to any investment/dealing instructions You give on behalf of a Client including but not limited to any use of a service provided by a third party even if such use of service or instruction in relation to investments was undertaken in accordance with the express wish of a Client and even if We arrange the investment on behalf of the Client.

5.12 You shall comply at all times with any Applicable Rules and Regulations as if they were applicable in relation to custodianship of investments in non-UK jurisdictions where protection may be less. Subject to clause 5.8 and subject to any Product terms in the event a Client chooses to invest in non-United Kingdom investments or as a consequence of registering investments overseas You are under an obligation to advise a Client that their protection may be less should a default occur in relation to any custodian in a jurisdiction outside the United Kingdom or in relation to any investments held by such a custodian. Furthermore it is Your responsibility to advise a Client that any investments held overseas may be subject to different settlement, legal and regulatory requirements than those which apply within the United Kingdom.

5.13 If You receive any Commission payments directly from an Investment Company, whether arranged by Us or not, You are responsible for ensuring that these are fully disclosed to the Client. It’s Your responsibility to make sure that any Remuneration received in respect of the Product as a whole are compliant with the FSMA and Regulatory Handbook.

5.14 We won’t be responsible for adjusting any Remuneration that We pay You to take account of Commission received by You from an Investment Company, and We won’t be obliged to amend the existing Remuneration terms under the Product.

5.15 Unless We otherwise agree in writing, a Client must pay Us all contributions and premiums direct to Us and cannot be paid to You first.

5.16 To ensure that We calculate and pay Your Remuneration correctly, You must quote the appropriate account code (provided by Us) and authorisation number (provided by the Regulator or relevant professional body) each time You submit Business to Us.

5.17 You, and any staff employed by You or Your company, must be suitably qualified and experienced and agree to perform Your duties under this Agreement in accordance with all applicable requirements of the Regulatory Handbook and with skill and diligence in accordance with industry standards of best practice.

5.18 You agree to maintain in full and observe the terms and conditions of an appropriate professional indemnity policy, adequate to cover Your liability in relation to Your dealings with Us. You agree at any time, at Our reasonable request, to provide evidence to show Us that the insurance is in force and shall immediately tell Us in writing, if any circumstances arise or are likely to arise that would lead to You being in breach of Your obligation.

5.19 You agree to maintain accurate books and records in accordance with industry accepted standard accounting practices. You must keep all records in accordance with the Applicable Rules and Regulations. We reserve the right at Our discretion to carry out audits on Your premises, within Your normal business hours. Should the audit identify any financial errors to Our detriment, You agree to fully reimburse Us in respect of such errors, including but not limited to Our reasonable costs of conducting the audit.

5.20 You agree to allow Us, Our Agents and the Regulator, or any appropriate regulatory body, access at any time, including after this Agreement has ended, to all information and documents (including copies of documents) retained by You concerning this Agreement and any of Our Policies sold to Your Clients. You also agree to co-operate fully in any investigations, whether instigated by a regulatory authority, resulting from a suspected financial crime incident, or otherwise, and to provide documentation when requested and legally able to do so.

5.21 Where You or any Connected Person apply for one of Our Products You must tell Us when submitting the Business as We won’t pay You Indemnity Commission on these.

5.22 You must immediately give a Client, without amendment, any document We give You for the benefit of, or completion by, a Client relating to a Policy they have or are applying for. You must also immediately give Us any document given to You by a Client relating to a Policy they have or are applying for.

5.23 We have the rights at all times to inspect and take copies of all books, documents, records, computer software and hardware belonging to Us that You have in order to monitor Your compliance with this Agreement, and may ask You to send any of these to Us. You shall make all reasonable efforts to supply such information within a reasonable period of time.

5.24 You must comply with all applicable provisions of the Regulatory Handbook and any Application Rules and Regulations in respect of the Business and any cancellation or cooling off notices (except when We are responsible), and You must give a Client any applicable Product terms and conditions in a durable medium.

5.25 If We agree in writing that You can pass Client monies to Us, You must hold such monies in accordance with the Client money requirements set out in the Regulatory Handbook and hold such monies on trust for a Client and pay them to Us in accordance with a Client’s authority.

5.26 If You don’t pay a Client monies referred to in clause 5.25 of this Agreement You agree to indemnify Us in respect of any Losses which We may suffer or incur as a result.

5.27 You must make it clear to a Client that monies You hold on their behalf aren't deemed to have been paid to Us. If You don’t then pay Us those monies, a Client will have to make alternative arrangements to pay Us.

5.28 Your personnel (including employees, Agents or subcontractors) and any other members of Your Group of companies are only allowed to refer to Us and any of Our Business in any communication (including electronic and web based forms), publication (including leaflets and brochures), journal, newspaper or other promotional material or documents if You ask Us and We explicitly allow You to do so in writing. We reserve the right to stop allowing You to do this at any time. This is not intended to restrict or prevent the referral of Clients to Our Products.

5.29 If You ask Us to make any such references set out in clause 5.28 of this Agreement You must do this in writing to Us and We may ask You to provide Us with a copy of the communication, announcement, photograph or other matter and where available, details of the time and the medium for the use or publication of the communication or announcement together with any such other information or documentation We ask for. If We approve this it will only apply to the specific request to which the approval is granted.

5.30 You agree to keep Us indemnified for any Losses which We may suffer or incur as a result of any act or omission by You (including, but not limited to, You failing to comply with this Agreement).

5.31 You agree not to change, add to or cancel, either verbally or otherwise, any of the terms and conditions of any Policy a Client has.

5.32 You must not incur any expenditure or liability on Our behalf.

5.33 You will at all times have suitable disaster recovery processes and procedures in place to maintain business continuity and servicing.

5.34 For the duration of this Agreement, or at any time after the Agreement ends, You agree not use, divulge or communicate to any person (except as may be required by law or by any legal or regulatory authority) any information You have about Us as a result of Your participation in this Agreement. You also agree to use all reasonable endeavours to prevent the publication or disclosure of any such information by any third party (including any other member of Your Group of companies).

5.35 You shall have in place a procedure for handling Client complaints and ensure that such procedure is compliant with the Regulatory Handbook and Regulator guidelines in respect of complaints handling together with any Applicable Rules and Regulations.

5.36 In the event of You receiving a complaint from a Client about any service provided by Us, including in relation to any of Our Products, You shall ensure We are informed of the complaint as soon as is reasonable, subject to relevant law and any duty of confidentiality. You will not make any statement or give any response on Our behalf without Our prior written approval. If You are acting as the Agent of the Client in respect of the complaint You will notify them of that fact accordingly. You will cooperate with Us at no cost to Us in the investigation of the complaint and if deemed necessary by Us We will directly deal with the Client or proposer in respect of the complaint.

5.37 Copies of the relevant documentation in relation to the complaint will be preserved by You in accordance with clause 5.35. Where original documentation is not retained, documentation will be preserved electronically in such a way that it can be reproduced and authenticated for the purposes of legal or other proceedings.

5.38 We reserve the right to recover costs incurred in handling and/or resulting in a complaint caused from any action or inaction on Your part or on the part of Your Agent.

5.39 In relation to data processed under this Agreement, both parties must at all times comply with the provisions and obligations of the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679 as amended or replaced from time to time or any regulations made under that Act. This includes taking appropriate technical and organisational measures against unauthorised processing of Personal Data and against accidental loss or destruction of, or damage to, Personal Data (in accordance with the seventh data protection principle). Neither party may transfer any such Personal Data or any copy of such data outside of the UK without the other party’s written consent.

5.40 You will ensure that those of Your employees who obtain, use or process Personal Data under this Agreement have been trained in the law of data protection and in the care and handling of Personal Data and that none of Your other employees unless it is necessary in relation to this Agreement are allowed access to the Personal Data.

5.41 You will inform Us within 2 working days of receiving a request from a Data Subject for access to that person’s Personal Data and You will provide Us with full and prompt cooperation and assistance in relation to any access request made by a Data Subject or by the Information Commissioner and/or any obligation on Us in relation to the Information Commissioner.

5.42 You will inform Us immediately if an enforcement notice under the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679 is served on You, where You are not prevented by law from disclosing the notice. Without prejudice to any other rights or remedies We may have, We reserve the right to terminate this Agreement without liability to You should an enforcement notice be served on You.

5.43 You are responsible as Agent for a Client for obtaining and recording a Client’s consent in order to comply with the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679 including to use and transfer their Personal Data by electronic, digital or other means of communication.

5.44 You must keep secure any security information (for example, identifiers, passwords, digital certificates) which You use to access information provided by Us on Our computer systems or on a third party’s computer system (for example portal service providers, back office software providers). You must inform Us immediately if any of Your employees, Agents or subcontractors stops being entitled to access any of Our secure on-line services, including Our extranet and Our platforms (for example if an individual is no longer employed by You or an Agent’s contract ends).

5.45 You agree to tell Us immediately in the event of any loss or suspected or anticipated loss of Personal Data on Your part and/or Your employees or Agents (where related to the Business and where You are not prevented from disclosing to Us by law or regulation) or any actual or anticipated risk in relation to any of these. You also agree to take all reasonable steps to resolve and mitigate any such loss, or suspected or anticipated loss, and shall consult with Us in respect of such resolution or mitigation.

5.46 You agree that You will, at all times during and after the term of this Agreement, indemnify and keep indemnified Us against all Losses, including payment of compensation to a third party and Our reasonable expenses in settling such third party claim and any costs arising in relation to the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679, as a result of a material failure by You to comply with their obligations in accordance with any part of this Agreement relating to Personal Data.

5.47 The parties will treat as confidential and will not at any time make use of or disclose to any person any information which it receives from the other with regards its policies, business dealings or affairs.

5.48 Nothing in this clause will prevent the either party from disclosing such information:

  1. to its professional advisers or;
  2. as required by law, regulatory requirement or any legal or regulatory authority;
  3. where the information is already in the public domain or where the information is not subject to any confidentiality provisions;
  4. where disclosure permission is granted by any other clause in this Agreement.

5.49 You acknowledge that the pricing of Products is confidential information and Our valuable Intellectual Property Right. You undertake that You will not copy, alter, modify, adapt, translate, decompile or reverse engineer the whole or any part of the pricing process.

5.50 In relation to the above You will treat and keep all confidential information as secret and confidential and will not, except with the disclosing parties prior written consent, directly or indirectly communicate or disclose confidential information to any other person other than in accordance with the terms of this Agreement.

5.51 The provisions of Clauses 5.39 – 5.50 will survive the termination or expiry of this Agreement for whatever reason and shall continue in full force and effect.

5.52 You must respect Our Intellectual Property Rights. You must not:

  1. use any of Our Intellectual Property Rights in such a way that it adversely affects Our brands or reputation, or suggests that there is a partnership or joint venture between You and Us
  2. copy, store or reproduce any of the materials We make available to You (including Our copyright and trade mark materials) without Our prior written consent, except as permitted in clause 5.29 of this Agreement, or
  3. register any internet domain name or apply to register any trade mark which includes, or is confusingly similar to, any of Our internet domain names, company names, trading names, brands or trademarks.

5.53 You are allowed to link from Your website to the home pages of Our websites and to Our PDF materials. In addition, You are licensed to use Our logos and PDF materials to recommend Us to a Client and any potential Client, subject to all of the following conditions:

  1. You must always obtain Our written consent in advance which We can withdraw at any time at Our discretion
  2. You must always use the most up to date versions of Our names, logos and PDF materials only
  3. You must only use Our names logos and PDF materials in the format in which We make them available to You or as they are displayed on Our media pages at www.LV.com
  4. Your licence is limited and non-exclusive and may not be assigned or sub-licensed
  5. Your licence can be revoked at any time
  6. You will not cause or permit anything which may damage or endanger Our Intellectual Property Rights, and
  7. You shall not acquire any rights or goodwill in respect of Our Intellectual Property Rights.

5.54 In the event that You or any of Your employees, Agents or subcontractors provide Us with any Intellectual Property Rights to use in connection with Your relationship with Us, You:

  1. must ensure that You have the right to allow Us to use such Intellectual Property Rights, and
  2. warrant that We are granted a non-exclusive licence to use such Intellectual Property Rights pursuant in connection with Our relationship with You.

5.55 You will not and You will procure that Your employees, Agents and subcontractors will not:

  1. bid for any terms on search engines or use terms within the ad copy and/or URL (visible or domain) which are owned by or associated to Us in any way or to Our internet domain names, company names, trading names, brands or trademarks, for example, this would include but not be limited to, LV=, LV=Liverpool Victoria, Liverpool Victoria
  2. bid on any term variations or misspellings on search engines or use within the ad copy and/or URL (visible or domain) which suggest that they are owned or associated to Us in any way or which are similar to any of Our internet domain names, company names, trading names, brands or trademarks, for example, this would include, but not be limited to, Liver Victoria, Victoria Liverpool, London Victoria, VL.com, www.liverpoolcarinsurance.co.uk
  3. bid on generic keywords which are or may appear to be linked or associated to Us, for example, this would include, but not be limited to, LV Car Insurance, LV Life Insurance, Liverpool Victoria Life Insurance
  4. use the term “LV official site” or similar in an ad copy or any other wording which suggests that it is associated with Us
  5. suggest that there is a joint venture, partnership or special relationship between You and Us or any of Our Products

5.56 You will and You will procure that Your employees, Agents and subcontractors ensure that any words associated to Us or to Our internet domain names, company names, trading names, brands or trade marks for example, this would include but not be limited to, LV=, LV=Liverpool Victoria, Liverpool Victoria are set out as negative match terms where You are setting up a paid search advertising campaign.

5.57 The provisions of these Intellectual Property Rights clauses shall survive the expiry or termination of this Agreement and shall continue in full force and effect.

5.58 In connection with all transactions with Us, You must obtain and record evidence of the identity of all third parties You introduce to Us in accordance with the provisions of all Directives, Acts, Regulations, rules and guidance notes issued in relation to money laundering, any requirements of, or guidance issued by, the Regulator and relevant Product requirements. You shall at all times comply with the Proceeds of Crime Act 2002 and the UK Money Laundering Regulations 2007 and where required by these, shall maintain records of all transactions connected with this Agreement.

5.59 Where appropriate, You must complete and give Us a confirmation of verification of identity certificate in an agreed format, along with any Policy application form in accordance with clause 5.39 of this Agreement. We reserve the right to request sight of the underlying verification of identity documents that You obtain to verify the identity of your Client(s). We reserve the right not to sell the associated Product to your Client(s) if this clause is not complied with. We won’t be held responsible for any errors or omissions by You in the provision of this information.

5.60 You and We shall at all times to comply with all applicable laws, regulations and sanctions relating to anti-bribery and anti-corruption including but not limited to the Bribery Act 2010 (“Relevant Requirements”).

5.61 In relation to section 5.60 of this Agreement, You and We shall not engage in any activity, practice or conduct which would constitute an offence under sections 1, 2 or 6 of the Bribery Act 2010 if such activity, practice or conduct had been carried out in the United Kingdom.

5.62 You shall have and shall maintain in place throughout the term of this Agreement Your own policies and procedures, including but not limited to adequate procedures under the Bribery Act 2010, to ensure compliance with the Relevant Requirements (see section 5.60) and will enforce them where appropriate. We shall have and shall maintain in place throughout the term of this Agreement Our own policies and procedures, including but not limited to adequate procedures under the Bribery Act 2010, to ensure compliance with the Relevant Requirements (see clause 5.60) and will enforce them where appropriate.

5.63 You shall promptly report to Us any request or demand for any undue financial or other advantage of any kind received by You in connection with the performance of this Agreement, to the extent that You are legally able to do so.

5.64 You agree to not bind Us to accept Business with any organisation or individual who appears on the HM Sanctions list. You agree to be responsible for checking HM Treasury’s consolidated list of financial sanction targets before submitting any Business to Us and shall indemnify Us in respect of any Losses, damage, fine or other penalty arising out of Your failure to do this.

5.65 You agree to tell Us immediately of any security breaches, fraud or other breaches of legislation or regulations, whether actual or suspected, and agree to help Us in the investigation of any of these events. You shall indemnify Us against Losses arising out of Your failure to comply with this clause.

This section tells You what We agree to do during the relationship We have with You, as well as what We agree not to do.

6.1 We agree to arrange any medical examinations, valuations and inspections in relation to any Policy a Client has or applies for.

6.2 We will only communicate with You if You are authorised by a Client to act on their behalf.

6.3 For any Business where You correspond with Us on behalf of a Client, We agree to only communicate with You. However, if We have to send any documents direct to a Client We will let You know, unless the documents are merely routine correspondence (including Liverpool Victoria Friendly Society Limited membership and Annual General Meeting related information) relating to a Client’s Policy.

6.4 We will only send a Client any marketing material if You agree to Us doing this. We will pay You any Commission on any resulting Business on such scale as We tell You for each particular case subject to this Agreement. Please contact Us if You would like to know more about how We can help You sell additional Products to a Client.

6.5 We reserve the right to carry out additional financial credit checks on You or Another Adviser that We consider paying Indemnity Commission to.

6.6 We are required to monitor and record the Business You submit to Us. If You submit Business to Us outside Your scope of permissions granted by the Regulator, We are duty bound under the Regulator rules to report such instances to the Regulator. If the Regulator requires Us to cancel or re-write the Business then We may also hold You liable for any costs incurred by Us.

6.7 Any company within Our Group of companies can apply any amount (whether or not then due) which is at any time held by Us or by any other company within Our Group of companies for Your account (or which falls due from it or from any other company within Our Group of companies to You on any account whatsoever) in or towards satisfaction of all or any of the monies, obligations and liabilities (whether actual or contingent) which may now or at any time in the future be due, owing or incurred by You to that company or to any of Our other companies within Our Group of companies.

6.8 For the avoidance of doubt, the rights of set off reserved to Us in clause 6.7 above apply in relation to any monies which may be due to You from any predecessor in title to any company within Our Group of companies and in relation to any monies which may be owed by You to any predecessor in title to any company within Our Group of companies.

This section tells You how We may change or end this Terms of Business Agreement We have with You.

7.1 We reserve the right to change, supplement or cancel this Agreement subject to giving You at least one month’s notice, except where changes in the regulatory rules or any legislation are required to take effect earlier than that date. If this happens We will let You know as soon as reasonably practicable. We may tell You by post, fax or electronically by email. We will also post the notice of the change on the adviser site www.LV.com/adviser. Any change won’t affect any Business already in force or submitted to Us before the change of the Agreement takes effect, except in such circumstances where regulatory or legislative requirements require otherwise.

7.2 If We change this Agreement and You choose not to accept them, You must let Us know as soon as possible that You wish to end Your relationship with Us.

7.3 If any of the following events happen to You or any of Your Agents, You or someone acting on behalf of You or any of Your Agents (such as a solicitor if You die), must tell Us as soon as reasonably practicable (where appropriate and where You are aware) and We reserve the right to end this Agreement with immediate effect by telling You and stopping further payment of Commission to You:

  1. (i) You purport to sell, transfer, assign, charge or otherwise prejudice Our ability to recover any Indemnity Commission that may ultimately become repayable without Our written consent, or
  2. (ii) You are a partnership which is dissolved or is varied by the addition of new partners or the retirement of existing partners without Our written consent, or
  3. (iii) You stop (or threaten to stop) trading, or
  4. (iv) You are not an individual and:

- (a) an administrator, liquidator, provisional liquidator, receiver, administrative receiver, insolvency practitioner, or similar officer is appointed in respect of any of Your assets, property or business, or

- (b) there is a suspension of payments, a moratorium of indebtedness, winding-up, dissolution, administration or re-organisation (by way of voluntary arrangement, scheme of arrangement or otherwise)

- (c) a director, partner, principal or Associated Person is charged with or convicted of an offence of dishonesty, for example, fraud or theft, or a county court judgment is made against them,

- (d) enter into an arrangement with Your creditors

- (e) you’re unable to pay your debts as they fall due

  1. (v) You are an individual and:

- (a) have become bankrupt or die, or

- (b) are entering into an arrangement with creditors, or

- (c) You or an Associated Person are being charged with or convicted of an offence of dishonesty, for example, fraud or theft, or a county court judgment is made against them, or

- (d) you’re unable to pay Your debts as they fall due

  1. (vi) You are subject to any of the circumstances in and/or in breach of clauses 5.6, 5.7, 5.55, 5.56 or 5.65
  2. (vii) You stop being authorised or exempt under the FSMA for any reason, or
  3. (viii) You commit a breach of this Agreement, or
  4. (ix) You commit a breach of Your obligations under the Regulatory Handbook, or
  5. (x) You act in any way which We believe may damage Our reputation or result in any financial loss to Us.

7.4 If We choose to end Our relationship with You, We will endeavour to ensure that Your Client’s interests are protected and that they’re treated fairly.

7.5 You may cancel this Agreement by giving us no less than one months’ notice in writing. Any such cancellation won’t affect any Business already in force or submitted to Us before the cancellation of the Agreement takes effect.

This section includes things not covered elsewhere, such as communicating with Us by email, processing, sharing and using data, and legal requirements.

Communication

8.1 We reserve the right to monitor the use and content of e-mails which We send or receive for the purposes of ensuring compliance with Our e-mail policy, and identifying and taking action against unlawful or improper use of Our systems. This includes, but isn’t limited to, spoofing, the transmission of computer viruses and a denial-of-service attack. We may also monitor and/or record telephone calls.

8.2 E-mail will usually be Our preferred method of sending communications to You. You must provide Us with Your up to date e-mail address so that We can correspond with You effectively. We may also communicate in a number of other ways including post, certain forms of electronic messaging and fax. Please note that We don’t accept communications by SMS message. We are entitled to rely on any communications which You send and which We receive.

8.3 If You choose to send Us e-mails You do so at Your own risk. There is no guarantee that We will receive any e-mail You send Us, or that the content of the e-mail will remain private or unaltered during its transmission to Us. Confirmation of receipt does not confer on any person any rights or legal obligations or constitute acceptance of any offer contained or implied in such email. We won’t accept any liability for any loss or damage You may suffer as a result of this. If this causes You concern, You may prefer to contact Us by telephone or post.

8.4 We virus scan all e-mails but won’t be responsible for any damage caused by a virus or alteration by a third party after an e-mail is sent. We recommend that You employ reasonable virus detection and protection measures when accessing e-mails sent from Us.

Processing, sharing and using data

8.5 You agree that We may process, share and use any information or data You give Us, including that relating to any of Your employees, consultants and Agents, for any of the following purposes:

  1. administration of Business with You
  2. exchanging information with any of Our Group of companies or contracting parties
  3. conducting market research (either alone or in conjunction with any other party)
  4. preparing strategic or other marketing plans (either alone or in conjunction with any other party)
  5. gauging Product sales or Product performance (either alone or in conjunction with any other party) provided that neither We or any such third party may contact any Client directly for such purposes You also agree that We can disclose any information or data You give Us to any party contracting with Us, or otherwise to any party as is consistent with the above approved uses of such information.

8.6 We won’t disclose Personal Data or Sensitive Personal Data relating to You or Your Agents, employees and consultants to a third party unless:

  1. We are required to do so by law, regulation or by the Regulator under FSMA or the Regulatory Handbook, or
  2. the individual has given his or her consent to such disclosure, or
  3. We have appointed a third party to provide a service on Our behalf (this may require data to be transferred to countries outside the EEA, which may or may not have the same data protection standards as the UK. In this situation We will ensure that all appropriate safeguards are put in place to protect the confidentiality of the relevant Personal Data and/or Sensitive Personal Data, or
  4. We are passing it to fraud prevention agencies, the Regulator, and/or any competent government or regulatory authority in order to protect Us and Our customers from potential theft or fraud, or
  5. as permitted by the Data Protection Act 2018 and the General Data Protection Regulation (EU) 2016/679

8.7 We reserve the right to share any of the information You give Us, (which for the avoidance of doubt only refers to information about the Business including about You, Your agents, employees and consultants) or the information We hold about Your account with other financial services organisations, regulatory authorised credit reference agencies and associated groups (for example, the ELIXIR 2000 database maintained by Crif Decision Solutions Limited on behalf of financial services organisations), regulatory bodies (such as the Regulator) and any government body as required by legislation (such as HM Revenue & Customs). You are hereby deemed to have given Your consent to this and accept that this is in accordance with Rule 15.8.3R of the Regulatory Handbook’s supervision provisions.

8.8 We shall maintain regular credit searches and shall be entitled to carry out searches against You, Your company, Your directors, partners, members, the principal, or Your business writers from time to time. You are deemed to have given Your consent to this. You understand and acknowledge that such searches may leave a footprint with the relevant search agencies We use. You further acknowledge and agree that We may share search information relating to Your trade credit performance with other organisations, insurers, trade associations or other bodies in order to assess applications for credit, recovery of debts, agency management, fraud prevention and the tracing of debtors. The information You give will also be used by Us for business analysis and market research, and by other organisations including law enforcement agencies, both here and abroad to help prevent fraud and money laundering. For example, it may be used to recover a debt, or to check Your details when applying for, and during the administration of insurance and finance Products, Services and employment. If We identity fraud, We’ll pass Your details to agencies which aim to prevent fraud and money laundering. Details of any credit searches can be seen by You if You request a credit report. If You want to know more about these agencies please write to Us at Group Financial Crime, LV=, County Gates, Bournemouth, BH1 2NF.

8.9 We reserve the right to use any information or data including Personal Data supplied by You to Us for the purposes of exchanging information with other parties We contract with, conducting market research, business analysis, preparing strategic or other marketing plans, or gauging Product sales or Product performance. We may carry out all these activities alone or in conjunction with another party. We may identify any of Your Clients if We take part in these activities.

8.10 You must inform all affected individuals, including employees, consultants and Agents, of the provisions of these paragraphs about data protection. You shall indemnify Us against Losses arising out of Your failure to comply with this clause.

8.11 Even if this Agreement ends or Your authorisation is withdrawn, You agree that the consent given in section 8.5 of this Agreement relating to disclosure or exchange of information shall continue after these events.

Legal Information

8.12 Neither You nor We shall have any liability, or be deemed to be in breach of this Agreement, for any delays or failures in performance of this Agreement which result from circumstances beyond reasonable control. This includes, without limitation, labour disputes. Whoever is affected by such circumstances agrees to promptly notify the other in writing when such circumstances cause a delay or failure in performance and when they stop doing so.

8.13 Nothing in this Agreement is intended to or will create a partnership or agency relationship between Us and You. You aren't authorised to make or enter into any commitments for or on Our behalf.

8.14 If We don’t enforce any of Our rights regarding Our relationship with You on any occasion, this won’t stop Us from enforcing them on another occasion. If You don’t enforce any of Your rights regarding Your relationship with Us on any occasion, this won’t stop You from enforcing them on another occasion.

8.15 If We decide to waiver any breach of this Agreement, it doesn’t prevent Us from enforcing that term in the future and doesn’t mean that We will waiver any subsequent breach, it doesn’t prevent You from enforcing that term in the future and doesn’t mean that You will waiver any subsequent breach.

8.16 We have the right to assign any of Our rights and benefits pursuant to this Agreement to (and to subcontract, delegate, or appoint as agents in respect of any of Our obligations pursuant to this Agreement) any other company within Our Group of companies.

8.17 You are not permitted to assign, subcontract or otherwise transfer Your rights or obligations under this Agreement to any other person, company or firm without Our prior written consent.

8.18 If any clauses of this Agreement are found to be unenforceable by a court, then that won’t affect the other clauses.

8.19 Neither You nor We intend for this Agreement to be enforceable by someone who isn't a party to this Agreement. However, each member of Our Group of companies is entitled to recover any loss suffered by it in connection with this Agreement and generally to enforce this Agreement in its own right in accordance with the provisions of the Contracts (Rights of Third Parties) Act 1999 as amended or replaced from time to time.

8.20 Any disputes arising under or in connection with this Agreement may be referred to arbitration by a single arbitrator appointed by agreement, or nominated on application by either party, to the President of the Law Society. The cost of this will be paid equally between You and Us.

8.21 Any reference to legislation or regulations shall be taken to refer to any successor legislation or regulations or any subsequent amendments.

8.22 This Agreement and Your relationship with Us will be governed by English Law and the exclusive jurisdiction of the English courts.

Terms of use of LV.com/openwork ('website' or 'site').
Updated April 2018

These terms apply to the use of the website by you as an authorised financial adviser. By using our site you agree that you've read and will comply with these terms. If you don't agree to be bound by the terms set out below, please don't use our site.

All LV= products and services have separate terms and conditions.

Copyright, trademark and website content

All copyright, trademarks and other intellectual property rights in all material or content on our website belong to Liverpool Victoria Friendly Society Limited. You can only download material from this website for your own use and to apply for our products. You won't have any right, title or interest in any material you download.

You can't use the material and content on our website in any other way. You agree not to copy, reproduce, transmit, download, frame, publish, display, distribute, commercially exploit or create anything using this material, unless we give you permission beforehand.

Our liability to you

We do all we can to make sure everything we publish on our website is accurate, but we don't give any guarantees about the information on it. We disclaim any representations and warranties, unless they've been made fraudulently.

We've taken all reasonable steps to protect our website with antivirus software. But we can't guarantee that our website will meet your needs or that:

  • it will be timely, secure or error-free
  • any defects will be corrected
  • our website or the server that makes it available are free of viruses or bugs or will allow the full functionality, accuracy or reliability of the materials.

We won't be liable if you lose any content or material uploading or transmitting through our site.

We can't guarantee that we can provide a particular product at any particular time or that a product will be available from day to day. We do not accept any liability for withdrawing any product or for rejecting an application for a product for any reason.

Neither we nor any of our directors, agents or employees will be liable for damages arising from you using our website. This applies to damages of any kind, including compensatory, direct, indirect or consequential damages, loss of data, income or profit, loss or damage to property and claims of third parties. However we may be liable if there’s a death or personal injury as a result of negligence on our part.

The website contains links to other sites and we're not responsible for the contents of any these other websites. You should always read the privacy statements and terms of use whenever you go to a linked website.

The information on our website may not include all of our products.

It is your responsibility to understand the product features and risks before deciding if the product is suitable for your client.

Your promise

You promise to fully compensate us for any loss or damage resulting from claims, actions, liability, losses, costs and expenses relating to your use of this site. This includes legal fees that result from you going against these terms or any other liabilities arising from you using our website.

Our rights

We can change or withdraw (temporarily or permanently) our website or any part of it at any time without giving you notice. We won't be liable to you in any way if we do this.

We may change these terms without telling you. We'll publish any changes we make on our website, so please check from time to time to make sure you've seen the latest version of our terms. If you continue to use our website after we’ve posted changes to our terms, we'll take it that you have accepted the revised terms.

We may refuse to process a transaction at any time and for any reason. We won't be liable to you or any third party if we do this.

We may monitor the information that's sent to our website.

We will capture your IP Address to help us monitor and enhance your experience when using our websites.

Cookies

Our website uses cookies. These are small pieces of information that a website stores on your computer's hard drive after the website has been visited. Each cookie contains information about your visit to the website, such as which pages you visited and which products and services you were interested in based on your previous visits to our website. The next time that you visit the site, the cookie will tell the site that you've been there before.

We may use cookies to identify and remember your preferences for different types of information after you've visited our website and to track your progress through the site. We will use this information to try and enhance your experience when using the site. For example, we might be able to avoid showing you information or screens you've already seen or give you information which we think you may be interested in, based on your previous visits to our website.

If you’d rather we didn't put cookies on your computer’s hard drive, you can turn cookies off by by adjusting your browser settings. On most PCs and laptops you can do this by choosing 'Control Panel' from the 'Start' menu, and then 'Internet Options'. On the 'Privacy' tab you’ll then need to set the slider to 'Block all Cookies'. However, by blocking all cookies this may mean you won’t be able to use some parts of this or other websites. On this website, blocking cookies will mean that you can’t sign in.

General

The information on our website applies to residents of the UK only. You'll find more details about this in individual products.

If your client takes out a product with us they may also be able to enforce these terms and conditions under the Contract (Rights of Third Parties) Act 1999. Your client won’t be told if we withdraw or change these terms and conditions. No other third parties have any rights to enforce these terms and conditions under the Contract (Rights of Third Parties) Act 1999.

We won't be liable if we can't carry out our obligations because of circumstances beyond our control. If any part of these terms is found to be legally unenforceable, the other parts will be unaffected and shall stay in force. These terms are governed by the law of England as applied by the courts for that part of the UK where you live. We'll always communicate in English.

Liverpool Victoria Friendly Society Limited: County Gates, Bournemouth, BH1 2NF

LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies. LVFS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, register number 110035. Registered address: County Gates, Bournemouth, BH1 2NF. Tel: 01202 292333.

We will pay commission on non-indemnity terms when you apply for cover for:

  • your own life
  • a person who is a Principal, Director, partner, member of staff of your firm
  • a civil partner, as defined in the Civil Partnership Act 2004
  • a close relative

By “close relative” we mean:

  • spouse (including common-law spouse) and civil partnership
  • children/step-children, parents/step-parents, sisters/step-sisters, brothers/step-brothers
  • the spouse or common-law spouse of anyone referred to in 2 above

The definition can be found in article 3(1) of the The Financial Services and Markets Act (Regulated Activities) Order 2001 and article 2(1) of the Financial Services and Markets Act (Financial Promotion) Order 2005.