Toba Agreement

5.3 In all cases where RUL requires the policyholder to pay a provisional or minimum deposit premium and until the calculation or agreement of the full premium of a policy, subsection 5.1 applies with regard to the provisional or minimum deposit premium and the subsequent adjustment. Read or terms and conditions to see how we work The Institute of Insurance Brokers (IIB) is in discussions with Ageas in response to members` complaints about the insurer`s recent changes to its terms and conditions (Tobas). The standard contract, which Biba says can save up to 80 hours of work, can now be delivered via the RegTech platform. 25.1 While the Company wishes to maintain the business and goodwill of the parties` customers, either party may terminate the Contract by sending the other party in writing at least 30 (thirty) days before the effective date of termination. Termination does not compromise the broker`s right to commissions and brokerage based on transactions placed by the broker on the Company., If the broker is liquidated or merged with another entity or if the broker loses its trading license from its regulatory authority, this agreement terminates with immediate effect. We believe that the above limit values are appropriate, but if you would like us to consider higher limit values, please let us know. If alternative limits are agreed, the agreed alternative limit will be part of these terms and conditions. If additional fees are charged to change the limit values, they will be discussed with you prior to the change. For those who wish to pay in instalments, we usually only feature Premium Credit Limited customers.

We may offer options to pay in installments with other financial service providers. We advise you if competitive credit terms are available through your insurer. Alternatively, you have the option of obtaining your own credit agreement. Since the recent implementation of the GDPR, many insurance companies have checked their terms and conditions and issued updated documents to their counterparties. We are also a credit intermediary by appealing to those who wish to pay in instalments to companies that are able to lend money under a regulated credit agreement on transactions. “This template can provide a common layout for these agreements, making it easier for brokers to navigate, especially when they are faced with about thirty different agreements that they need to understand and deal with.” 21.1 This Agreement contains the entire agreement between RUL and the intermediary regarding their subject matter, unless expressly stated in this Agreement. It replaces any prior written or oral agreement between the parties. A copy of the trust deed is available upon request or can be viewed on our premises during normal business hours.

If you object to the clearing of your money to a fiduciary account not required by law, you should notify us immediately. Otherwise, your consent to the payment of the premium, as well as your acceptance of these terms, constitutes your informed consent for us to maintain your money in a trust account not required by law. Interest earned on funds held in such a non-legal trust account is withheld by us. For the purposes of certain transactions, the customer`s money may pass through other authorized intermediaries before being paid to the insurer. In response to requests from members for help in increasing efficiency and reducing friction costs, BIBA has developed, in collaboration with many other industry stakeholders, a voluntary toba model, balanced for both brokers and insurers. . . .