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Intermediary Terms of Business

By submitting cases through the Broker Online portal, you agree to be bound by the following terms and conditions.

1 INTERPRETATION

Agreement means this agreement
Applicant means a person who applies for a Product through the intermediary in pursuant to this Agreement
Application means an Application for a Product provided on behalf of the Applicant by the intermediary and received by the Provider, in pursuant of this agreement
Applicable law any (i) rules, regulations and guidance, and (ii) statutes, statutory instruments, regulations, directives, judgements and laws, which relate to the Applications and/or these Terms and/or anything ancillary or related to the Applications and/or these Terms
Compliance Laws Applicable Law anywhere in the world including those relating to anti-bribery, anti-corruption and anti-slavery including but not limited to the Bribery Act 2010 and the Modern Slavery Act 2015;
Commencement Date means the date of this Agreement
Data Protection laws means the Data Protection Act 2018, the UK General Data Protection Regulation and any amending or replacement legislation or regulation
FCA means the Financial Conduct Authority or any regulatory body, which succeeds or replaces it
Fees the fees, commission or other payments set out in the product guides
FSMA means the Financial Services & Markets Act 2000 and any amending or replacement legislation
ICO means the Information Commissioner’s Office
Intermediary means a company or individual authorised to advise and distribute mortgages and who either accepts these Terms directly or via its authorised Staff;
Mortgage(s) means a regulated mortgage contract falling within Article 61(3) of the Financial Services and Markets Act 2000 (regulated activities) Order 2001
Parties means the Provider and the Intermediary
PRA means the Prudential Regulation Authority or any regulatory body, which succeeds or replaces it
Products means such Mortgage products provided by the Provider
Provider means the Buckinghamshire Building Society

 

2   FEES

2.1 Fees will be paid to the registered details you supplied unless otherwise stated on the application form, within 7 working days following product completion and the payment method will be directly through the BACS system.

2.2 The level of Fees will be reviewed from time to time and may be amended by written agreement between the parties.

2.3 The Fees payable under this Agreement are exclusive of any Value Added Tax or equivalent tax.

3   PRODUCTS AND PRODUCT ADMINISTRATION

3.1 The Provider will make all arrangements in respect of and will be solely responsible for the processing and administration of Products including, where relevant, assessment of affordability of Mortgages except to the extent that a Member or a third party company has entered into an agreement with the Provider to carry out such activities.

3.2 The Provider shall be solely responsible for the application forms and any product literature associated with the Products. The Provider will supply the Intermediary with regular up to date information on the Products including where relevant, the lending criteria.

3.3 The Provider will carry out all activities in connection with applications submitted by members with all due skill and care that can expected of a provider of financial services products similar to the Products.

4   REGULATORY COMPLIANCE

4.1 The Provider and the Intermediary  will ensure compliance with all laws and regulatory requirements applicable to it.

4.2 The Provider warrants and undertakes that throughout the term of this Agreement it will ensure that all Product literature or other information relating to Products (‘Materials’) that it supplies to the Intermediary  is accurate, up to date and compliant with all applicable laws and rules and guidance of any regulatory body relevant to the Materials.

4.3 The Provider and the Intermediary will each comply with applicable laws, regulations, codes and guidance in force from time to time relating to anti-bribery, anti-corruption, anti-slavery and human trafficking including but not limited to the Bribery Act 2010 and the Modern Slavery Act 2015 (“Relevant Requirements”)

4.4 Each party represents and warrants to the other that neither it nor to its reasonable knowledge, its employees, officers or consultants have been convicted of an offence, or are under investigation or the subject of enforcement proceedings in relation to any offence concerning slavery, human trafficking, corruption or bribery.

5   COMPLAINTS

5.1 In the event that the Intermediary receives a complaint from, or on behalf of an Applicant it will promptly refer the complaint to the Provider as appropriate.

6   NATURE OF AGREEMENT

6.1 The parties acknowledge that nothing in this Agreement shall be construed as creating a Partnership or joint venture between them.

7   DATA PROTECTION

7.1 The Parties will each maintain such registrations and notifications under Data Protection laws that are required for the performance of the Parties respective obligations under this Agreement.  The Parties will comply with Data Protection laws (including without limitation the data protection principles) and with guidelines issued from time to time by the Information Commissioner.  References in this clause to data processor, data controller and personal data shall have the meaning given to them under Data Protection laws.

7.2 The Parties agree that where in connection with this Agreement a party acts as a data processor and processes personal data for and on behalf of the other Party (the data controller) the data processor shall:

TERMS & CONDITIONS

It is hereby agreed between the parties that English Law will apply to this contract and: