Common use of Automatic Renewals Clause in Contracts

Automatic Renewals. If you have paid by direct debit, debit or credit card we may charge payment for subsequent renewals of your insurance policies to the bank account, credit or debit card details provided. We will write to you in advance of doing so, though if you do not want us to do this you can let us know at any time. For more details about our automatic renewals please call us on 0000 0000 000. Costs, Fees and Commissions When we arrange your insurance we usually receive commission from the Insurer with whom that insurance is placed, unless we have entered into an arrangement where our services are provided for an agreed fee. This commission varies by both insurer and type of policy and is solely for our account. Where we decide to forgo such commission as is offered and agree a fee with you instead that covers our costs and expenses, we will always advise you of the amount before we put your insurance arrangements into force and before you incur a liability to pay such fees. They will also be shown on our invoices to you. If you are a business customer, we will, if you ask us to, tell you how much commission we earn from your insurer. If the exact amount cannot be calculated, the basis of the calculation will be advised. With certain Insurers and products the commission obtainable is insufficient to cover our costs and expenses. Where this is the case we may charge a fee in addition to the commission that we will receive from the Insurer. Fees will be shown as such on our invoices to you. If another intermediary is involved in your insurance transaction they will usually be remunerated by commission included in the premium you pay unless a fee in respect of their activities has been agreed with you in advance. In addition, we will make a charge to cover the administration and regulatory costs of your insurance of £10.00 per transaction, per policy, in respect of document handling relating to your insurance. This charge will be applied for new business; renewals and any change to your policy involving an amendment to your premium. Policies cancelled will be subject to an administration charge of £50.00, in addition to the premium charged by the insurer for the period of cover provided. We will always advise you of the amount of the charge payable before you become liable to pay it and the amount will be shown separately on our invoices to you. We may also receive remuneration from premium finance and credit reference agencies and from some Insurers with whom we have profit sharing, or contingent commission arrangements. Such amounts will solely be for our account. In the event of cancellation of any insurance contract after inception insurers may return a premium to us. Once our remuneration has been earned at the commencement of the contract, our commission or fees will not usually be returnable. We therefore reserve the right to retain our brokerage or fees in full from any return due to you in such circumstances. Insurers may make refunds on a pro rata, short period or other basis according to the type of policy and the length of time in force. Any costs, fees or commissions received by us in accordance with the terms of this agreement are treated as being exempt from VAT and payments made by us are exclusive of VAT. We reserve the right to issue VAT invoices in the future should this position be altered by action of HMRC. Client Money (Non Statutory Trust Account and Risk Transfer arrangements) FCA rules require that all Insurer money received from clients is segregated from our own money so as to provide safety for the client in the event that Trade Direct Insurance Services Ltd is unable to meet its financial obligations. This money cannot be claimed by any creditor of the firm as it is not the firm's money. Trade Direct Insurance Services Ltd operates a Non Statutory Trust Account for this purpose. You should be aware of and understand that the use of this type of account allows Trade Direct to make advances of credit to settle outstanding items to insurers and clients. Trade Direct Insurance Services Ltd has entered into formal written agreements with each of our Insurers where those insurers treat money paid to us by our clients as having been paid to them directly. In these circumstances, even If we were to default in paying that money to the Insurer, your position is protected as the Insurer has treated your premium as having been paid to them once your have made your payment to us. Under these arrangements we are acting as Agent for the Insurer when collecting premiums. Generally these arrangements apply to premium payments only, but may include return premiums or claims payments due to you. Any money subject to this kind of agreement will still be held in our Non Statutory Trust Account so as to provide further protection until those funds have been paid. By accepting these Terms of Business you are giving your express agreement to Trade Direct Insurance Services Ltd to operate its Insurer money arrangements in the way outlined above. Any interest earned on any monies held in a Non-Statutory Trust Account will be retained by us. Unclaimed Client Money From time to time our clients move addresses or for other reasons lose contact with us. Where this occurs and a balance is due to a client, we will continue to hold that money as client money for a period of 6 years from the date of the transaction. After that period we will cease to hold that money as client money specifically allocated to the relevant client and may transfer it elsewhere. We will continue to maintain a list of transactions affected and undertake to make good any valid claims occurring after the 6 year period.

Automatic Renewals. If you have paid by direct debit, debit or credit card we may charge payment for subsequent renewals of your insurance policies to the bank account, credit or debit card details provided. We will write to you in advance of doing so, though if you do not want us to do this you can let us know at any time. For more details about our automatic renewals please call us on 0000 0000 000contact us. Costs, Fees and Commissions When we arrange your insurance we usually receive commission from the Insurer with whom that insurance is placed, unless we have entered into an arrangement where our services are provided for an agreed fee. This commission varies by both insurer and type of policy and is solely for our account. Where we decide to forgo such commission as is offered and agree a fee with you instead that covers our costs and expenses, we will always advise you of the amount before we put your insurance arrangements into force and before you incur a liability to pay such fees. They will also be shown on our invoices to you. If you are a business customer, we will, if you ask us to, tell you how much commission we earn from your insurer. If the exact amount cannot be calculated, the basis of the calculation will be advised. With certain Insurers and products the commission obtainable is insufficient to cover our costs and expenses. Where this is the case we may charge a fee in addition to the commission that we will receive from the Insurer. Fees will be shown as such on our invoices to you. If another intermediary is involved in your insurance transaction they will usually be remunerated by commission included in the premium you pay unless a fee in respect of their activities has been agreed with you in advance. In addition, we will make a charge to cover the administration and regulatory costs of your insurance of £10.00 15.00 for website sales, £20.00 for all other sales up to £500.00 premium and £25.00 for sales over £500.00 premium per transaction, per policy, in respect of document handling relating to your insurance. This charge will be applied for new business; renewals and any change to your policy involving an amendment to your premium. Policies cancelled will be subject to an administration charge of £50.00, in addition to the premium charged by the insurer for the period of cover provided. We will always advise you of the amount of the charge payable before you become liable to pay it and the amount will be shown separately on our invoices to you. We may also receive remuneration from premium finance and credit reference agencies and from some Insurers with whom we have profit sharing, or contingent commission arrangements. Such amounts will solely be for our account. In the event of cancellation of any insurance contract after inception insurers may return a premium to us. Once our remuneration has been earned at the commencement of the contract, our commission or fees will not usually be returnable. We therefore reserve the right to retain our brokerage or fees in full from any return due to you in such circumstances. Insurers may make refunds on a pro rata, short period or other basis according to the type of policy and the length of time in force. Any costs, fees or commissions received by us in accordance with the terms of this agreement are treated as being exempt from VAT and payments made by us are exclusive of VAT. We reserve the right to issue VAT invoices in the future should this position be altered by action of HMRC. Client Money (Non Statutory Trust Account and Risk Transfer arrangements) FCA rules require that all Insurer money received from clients is segregated from our own money so as to provide safety for the client in the event that Trade Direct Insurance Services Ltd is unable to meet its financial obligations. This money cannot be claimed by any creditor of the firm as it is not the firm's money. Trade Direct Insurance Services Ltd operates a Non Statutory Trust Account for this purpose. You should be aware of and understand that the use of this type of account allows Trade Direct to make advances of credit to settle outstanding items to insurers and clients. Trade Direct Insurance Services Ltd has entered into formal written agreements with each of our Insurers where those insurers treat money paid to us by our clients as having been paid to them directly. In these circumstances, even If we were to default in paying that money to the Insurer, your position is protected as the Insurer has treated your premium as having been paid to them once your have made your payment to us. Under these arrangements we are acting as Agent for the Insurer when collecting premiums. Generally these arrangements apply to premium payments only, but may include return premiums or claims payments due to you. Any money subject to this kind of agreement will still be held in our Non Statutory Trust Account so as to provide further protection until those funds have been paid. By accepting these Terms of Business you are giving your express agreement to Trade Direct Insurance Services Ltd to operate its Insurer money arrangements in the way outlined above. Any interest earned on any monies held in a Non-Statutory Trust Account will be retained by us. Unclaimed Client Money From time to time our clients move addresses or for other reasons lose contact with us. Where this occurs and a balance is due to a client, we will continue to hold that money as client money for a period of 6 years from the date of the transaction. After that period we will cease to hold that money as client money specifically allocated to the relevant client and may transfer it elsewhere. We will continue to maintain a list of transactions affected and undertake to make good any valid claims occurring after the 6 year period.

Automatic Renewals. If you have paid by direct debit, debit or credit card we may charge payment for subsequent renewals of your insurance policies to the bank account, credit or debit card details provided. We will write to you in advance of doing so, though if you do not want us to do this you can let us know at any time. For more details about our automatic renewals please call us on 0000 0000 000000 0000. Costs, Fees and Commissions When we arrange your insurance we usually receive commission from the Insurer with whom that insurance is placed, unless we have entered into an arrangement where our services are provided for an agreed fee. This commission varies by both insurer and type of policy and is solely for our account. Where we decide to forgo such commission as is offered and agree a fee with you instead that covers our costs and expenses, we will always advise you of the amount before we put your insurance arrangements into force and before you incur a liability to pay such fees. They will also be shown on our invoices to you. If you are a business customer, we will, if you ask us to, tell you how much commission we earn from your insurer. If the exact amount cannot be calculated, the basis of the calculation will be advised. With certain Insurers and products the commission obtainable is insufficient to cover our costs and expenses. Where this is the case we may charge a fee in addition to the commission that we will receive from the Insurer. Fees will be shown as such on our invoices to you. If another intermediary is involved in your insurance transaction they will usually be remunerated by commission included in the premium you pay unless a fee in respect of their activities has been agreed with you in advance. In addition, we will make a charge to cover the administration and regulatory costs of your insurance of £10.00 15.00 for website sales, £20.00 for all other sales up to £500.00 premium and £25.00 for sales over £500.00 premium per transaction, per policy, in respect of document handling relating to your insurance. This charge will be applied for new business; renewals and any change to your policy involving an amendment to your premium. Policies cancelled will be subject to an administration charge of £50.00, in addition to the premium charged by the insurer for the period of cover provided. We will always advise you of the amount of the charge payable before you become liable to pay it and the amount will be shown separately on our invoices to you. We may also receive remuneration from premium finance and credit reference agencies and from some Insurers with whom we have profit sharing, or contingent commission arrangements. Such amounts will solely be for our account. In the event of cancellation of any insurance contract after inception insurers may return a premium to us. Once our remuneration has been earned at the commencement of the contract, our commission or fees will not usually be returnable. We therefore reserve the right to retain our brokerage or fees in full from any return due to you in such circumstances. Insurers may make refunds on a pro rata, short period or other basis according to the type of policy and the length of time in force. Any costs, fees or commissions received by us in accordance with the terms of this agreement are treated as being exempt from VAT and payments made by us are exclusive of VAT. We reserve the right to issue VAT invoices in the future should this position be altered by action of HMRC. Client Money (Non Statutory Trust Account and Risk Transfer arrangements) FCA rules require that all Insurer money received from clients is segregated from our own money so as to provide safety for the client in the event that Trade Direct Insurance Services Ltd is unable to meet its financial obligations. This money cannot be claimed by any creditor of the firm as it is not the firm's money. Trade Direct Insurance Services Ltd operates a Non Statutory Trust Account for this purpose. You should be aware of and understand that the use of this type of account allows Trade Direct to make advances of credit to settle outstanding items to insurers and clients. Trade Direct Insurance Services Ltd has entered into formal written agreements with each of our Insurers where those insurers treat money paid to us by our clients as having been paid to them directly. In these circumstances, even If we were to default in paying that money to the Insurer, your position is protected as the Insurer has treated your premium as having been paid to them once your have made your payment to us. Under these arrangements we are acting as Agent for the Insurer when collecting premiums. Generally these arrangements apply to premium payments only, but may include return premiums or claims payments due to you. Any money subject to this kind of agreement will still be held in our Non Statutory Trust Account so as to provide further protection until those funds have been paid. By accepting these Terms of Business you are giving your express agreement to Trade Direct Insurance Services Ltd to operate its Insurer money arrangements in the way outlined above. Any interest earned on any monies held in a Non-Statutory Trust Account will be retained by us. Unclaimed Client Money From time to time our clients move addresses or for other reasons lose contact with us. Where this occurs and a balance is due to a client, we will continue to hold that money as client money for a period of 6 years from the date of the transaction. After that period we will cease to hold that money as client money specifically allocated to the relevant client and may transfer it elsewhere. We will continue to maintain a list of transactions affected and undertake to make good any valid claims occurring after the 6 year period.

Automatic Renewals. If you have paid by direct debit, debit or credit card we may charge payment for subsequent renewals of your insurance policies to the bank account, credit or debit card details provided. We will write to you in advance of doing so, though if you do not want us to do this you can let us know at any time. For more details about our automatic renewals please call us on 0000 0000 000. Costs, Fees and Commissions When we arrange your insurance we usually receive commission from the Insurer with whom that insurance is placed, unless we have entered into an arrangement where our services are provided for an agreed fee. This commission varies by both insurer and type of policy and is solely for our account. Where we decide to forgo such commission as is offered and agree a fee with you instead that covers our costs and expenses, we will always advise you of the amount before we put your insurance arrangements into force and before you incur a liability to pay such fees. They will also be shown on our invoices to you. If you are a business customer, we will, if you ask us to, tell you how much commission we earn from your insurer. If the exact amount cannot be calculated, the basis of the calculation will be advised. With certain Insurers and products the commission obtainable is insufficient to cover our costs and expenses. Where this is the case we may charge a fee in addition to the commission that we will receive from the Insurer. Fees will be shown as such on our invoices to you. If another intermediary is involved in your insurance transaction they will usually be remunerated by commission included in the premium you pay unless a fee in respect of their activities has been agreed with you in advance. In addition, we will make a charge to cover the administration and regulatory costs of your insurance of £10.00 25.00 per transaction, per policy, in respect of document handling relating to your insurance. This charge will be applied for new business; renewals and any change to your policy involving an amendment to your premium. Policies cancelled will be subject to an administration charge of £50.00, in addition to the premium charged by the insurer for the period of cover provided. We will always advise you of the amount of the charge payable before you become liable to pay it and the amount will be shown separately on our invoices to you. We may also receive remuneration from premium finance and credit reference agencies and from some Insurers with whom we have profit sharing, or contingent commission arrangements. Such amounts will solely be for our account. In the event of cancellation of any insurance contract after inception insurers may return a premium to us. Once our remuneration has been earned at the commencement of the contract, our commission or fees will not usually be returnable. We therefore reserve the right to retain our brokerage or fees in full from any return due to you in such circumstances. Insurers may make refunds on a pro rata, short period or other basis according to the type of policy and the length of time in force. Any costs, fees or commissions received by us in accordance with the terms of this agreement are treated as being exempt from VAT and payments made by us are exclusive of VAT. We reserve the right to issue VAT invoices in the future should this position be altered by action of HMRC. Client Money (Non Statutory Trust Account and Risk Transfer arrangements) FCA rules require that all Insurer money received from clients is segregated from our own money so as to provide safety for the client in the event that Trade Direct Insurance Services Ltd is unable to meet its financial obligations. This money cannot be claimed by any creditor of the firm as it is not the firm's money. Trade Direct Insurance Services Ltd operates a Non Statutory Trust Account for this purpose. You should be aware of and understand that the use of this type of account allows Trade Direct to make advances of credit to settle outstanding items to insurers and clients. Trade Direct Insurance Services Ltd has entered into formal written agreements with each of our Insurers where those insurers treat money paid to us by our clients as having been paid to them directly. In these circumstances, even If we were to default in paying that money to the Insurer, your position is protected as the Insurer has treated your premium as having been paid to them once your have made your payment to us. Under these arrangements we are acting as Agent for the Insurer when collecting premiums. Generally these arrangements apply to premium payments only, but may include return premiums or claims payments due to you. Any money subject to this kind of agreement will still be held in our Non Statutory Trust Account so as to provide further protection until those funds have been paid. By accepting these Terms of Business you are giving your express agreement to Trade Direct Insurance Services Ltd to operate its Insurer money arrangements in the way outlined above. Any interest earned on any monies held in a Non-Statutory Trust Account will be retained by us. Unclaimed Client Money From time to time our clients move addresses or for other reasons lose contact with us. Where this occurs and a balance is due to a client, we will continue to hold that money as client money for a period of 6 years from the date of the transaction. After that period we will cease to hold that money as client money specifically allocated to the relevant client and may transfer it elsewhere. We will continue to maintain a list of transactions affected and undertake to make good any valid claims occurring after the 6 year period.