Terms of Business Multi Agency Intermediary & Mortgage Intermediary

Authorised Status:
Parkborough Ltd t/a The Mortgage Advice Shop is regulated by the Central Bank of Ireland (henceforth 'TMAS') as a Multi Agency Intermediary and a Mortgage Intermediary. A copy of the company's Authorised Status as contained in these Terms of Business. Parkborough Ltd t/a the Mortgage Advice Shop is a member of The Insurance Brokers Association and is a member of the Institution of Auctioneers and Valuers.

Services:
TMAS offer advice in relation to non-life insurance (motor, property, liability and personal accident) and also in relation to life Insurance products (term cover, serious illness, pensions, savings investments and domestic, commercial and residential investment mortgages and transmit orders on clients behalf to any of the insurance undertakings, lenders or product producers from whom the Company hold letters of appointment. A list of all such entitles is contained elsewhere in these Terms of Business.

Remuneration Policy:

General Branch:
In addition Parkborough Ltd t/a First Stop Mortgages, which is regulated by the Central Bank of Ireland, in respect of personal lines business, may charge a service fee of €30 per policy (at inception and renewal). A service fee of up to €75 is charged in respect of mid term adjustment to contracts.

Life Assurance & Investment Business:
TMAS, in the case of life assurance/investments contracts where the firm is not in receipt of commission, will charge a service fee, agreed with clients, depending on complexity the transaction, time spent and nature and extent of the transaction.

Mortgage Business:
TMAS is in receipt of mortgage commission from lenders at a rate of up to 1% of the value of the amount borrowed. A list of lenders whom TMAS hold agencies with is listed in this document. TMAS may charge an administration fee of 0.5% for arranging your mortgage finance. Your mortgage consultant will individually agree this fee with you. TMAS may additionally receive renewal commissions of 0.1% from lenders stated in this document, for business placed on an ongoing basis.

Conflict of Interest:
It is the policy of TMAS to avoid conflict of interest when providing services to clients. Where an unavoidable conflict arises we will advise you of this in writing before providing any business service. If you have not been of any such conflict you may assume that none arises. TMAS may be receipt of soft commissions from the following insurance Undertaking and Mortgage Lenders-list any company from which soft commissions are received. TMAS may additionally receive renewal commissions of 0.1% for Business placed on an ongoing basis.

Complaints Procedure:
TMAS has in place a written procedure for the handling of complaints. This procedure ensures that all complaints are recorded and acknowledged within 14 days. All complaints are fully investigated and the complainant updated (if revelent) at 4 weekly intervals. All complaints should be directed to Derek Walsh, The Compliance Officer, The Mortgage Advice Shop, 28 Patrick Street, Waterford. In the event that a client remains dissatisfied with the handling of and /or response to a complaint they may refer the matter to The Central Bank of Ireland, PO Box 559, Dame Street. Dublin 2, Telephone 1890777777.

Consumer Protection:
TMAS is a member of the investor Compensation Scheme established under the investor Compensation Act 1998. The legislation provides for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to clients of firms covered by the Act. However you should also be aware that a right to compensation would only arise where money or investment Instruments held by this company on your behalf cannot be returned either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client's loss, which is recognised as being eligible for compensation or €20,000. TMAS is in addition bonded for the sum of 1.5 million aggregate and €250K aggregate in relation to mortgage business.

Client’s Money
TMAS will accept payments in cash, cheque or bankers credit in respect of all classes of insurance in the circumstances permitted under Section 25G of the investment intermediaries Act 1995. Payments must represent premium in respect of either a renewal of a policy, which has been invited by an insurance undertaking or product producer or a proposal accepted by an insurance undertaking or product producer. TMAS is not authorised to accept cash or negotiable instruments in any other circumstances.

Credit Policy:
We regret that credit cannot be extended to clients in respect of premiums, initial, renewal or additional. Initial or first premiums must be paid at inception of cover and renewal premiums before the policy renewal date otherwise the Company will advise the insurance undertaking or product producer involved and cover will be cancelled.

Receipts:
TMAS will issue receipts for each payment received pursuant to Section 30 of the investment intermediaries Act 1995 and should be retained in a safe place.

Data Protection:
TMAS is registered as a Data Processor under the Data Protection Act 1988, amended 2003. You may have entitlements under the Date Protection Act to inspect all personal information held on file by TMAS upon request and to require TMAS to correct any errors of fact that may exist. Any requests should be forwarded to the Compliance Officer.

Insurance Undertaking:
The following are a list of insurance undertakings and product producers from which letters of appointment are held.

In the Event of Default of Payment of your Insurance Policy
A 30 day grace period is allowed by Product Producers for premiums to be collected on each anniversary of the policy. If you fail to maintain payment of your insurance premium your Insurance Company will be notified and your cover cancelled. Therefore your home or other property may be at risk.