Common use of Client Money Clause in Contracts

Client Money. In the course of carrying on insurance distribution activities, We do not handle client money. This will be handled on Our behalf by UKGlobal Broking Group Limited (‘We’, ‘Our’, ‘Us’ for the remainder of this clause only) in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. A copy of these rules is available on request. We handle client money in either one of the following ways: It is held on Your behalf in a segregated bank account that is subject to a non-statutory trust. The aim of the trust is to protect You in the event of Our financial failure, or the failure of the bank or a third party at which the money may be held. In such a circumstance, Our general creditors (or those of the bank or third party) should not be able to make claims on client money, as such money will not form part of Our (or the bank’s or third party’s) property. The fact that We will hold money on trust gives rise to fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory trust, We are entitled to and may make advances of credit from the trust to enable a client’s premium obligation to be met before the premium is remitted to Us. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a client bank account with an authorised UK clearing bank. Any interest earned on client money that is subject to a non-statutory trust will be retained by Us.

Client Money. In the course of carrying on insurance distribution activities, We do not handle client money. This will be handled on Our behalf by UKGlobal Broking Group Limited (‘We’, ‘Our’, ‘Us’ for the remainder of this clause only) money in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. A copy of these rules is available on request. We handle client money in either one of the following ways: It is held on Your behalf in a segregated bank account that is subject to a non-statutory trust. The aim of the trust is to protect You in the event of Our financial failure, or the failure of the bank or a third party at which the money may be held. In such a circumstance, Our general creditors (or those of the bank or third party) should not be able to make claims on client money, as such money will not form part of Our (or the bank’s or third party’s) property. The fact that We will hold money on trust gives rise to fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory trust, We are entitled to and may make advances of credit from the trust to enable a client’s premium obligation to be met before the premium is remitted to Us. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a client bank account with an authorised UK clearing bank. Any interest earned on client money that is subject to a non-statutory trust will be retained by Us.

Client Money. In the course of carrying on insurance distribution activities, We do not handle client money. This will be handled on Our behalf by UKGlobal Broking Group Limited (‘We’, ‘Our’, ‘Us’ for the remainder of this clause only) money in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. A copy of these rules is available on request. We handle client money in either one of the following ways: • It is held on Your behalf in a segregated bank account that is subject to a non-statutory trust. The aim of the trust is to protect You in the event of Our financial financial failure, or the failure of the bank or a third party at which the money may be held. In such a circumstance, Our general creditors (or those of the bank or third party) should not be able to make claims on client money, as such money will not form part of Our (or the bank’s or third party’s) property. The fact that We will hold money on trust gives rise to fiduciary fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory trust, We are entitled to and may make advances of credit from the trust to enable a client’s premium obligation to be met before the premium is remitted to Us. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. • Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written wriben agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a client bank account with an authorised UK clearing bank. Any interest earned on client money that is subject to a non-statutory trust will be retained by Us.

Client Money. In the course of carrying on insurance distribution activities, We do For your additional security Xxxxxx Crisp is not permitted to handle client clients’ money. We never handle cash or accept a cheque made out to us, unless the cheque is in settlement of an item for which we have sent you an invoice. Anti-money Laundering We are required, by the Proceeds of Crime Act 2002 and the Money Laundering regulations 2017, to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning. We reserve the right to delay any applications until adequate verification of identity has been obtained. Material Interest We will act honestly, fairly and professionally always conducting business in our clients’ best interests. Occasionally situations may arise where we or one of our other clients have some form of interest in business transacted for you. Conflicts of Interest are impossible to remove entirely but we identify, monitor and manage real or potential conflicts in order to safeguard our clients’ interests. The following actual or potential conflicts of interest have been identified:- • Access to confidential information • Outside business interests or personal relationships • Inducements and non-monetary benefits • Remuneration We rely on a policy of independence to manage any conflicts of interest between Henson Crisp and our clients or between one client and another. This means that it is possible that there may be material interest or conflicts of interest relating to the service given to clients but we are required to disregard that material interest or conflict of interest when advising clients. We monitor where conflicts of interest may exist such as having a material interest in relation to a transaction or recommendation, and if we believe we are unable to manage a specific conflict of interest using this policy of independence we will be handled on Our behalf disclose the conflict to clients by UKGlobal Broking Group Limited (‘We’writing to you with full details and the steps we will take to ensure fair treatment, ‘Our’and obtain your consent before we carry out your instructions. Ultimately, ‘Us’ if we believe that disclosure would also not manage the conflict fairly, we must decline to act for the remainder client. Disclosure of connections with other financial services companies The principal of Xxxxxx Crisp Limited is a controller of and a shareholder in RXI Wealth Limited. RXi Wealth Limited is an authorised firm providing Discretionary Investment Management (FRN 749884). The existence of the shareholding and any potential benefit does not alter our regulatory responsibility to remain impartial, and will in no way influence our recommendations in relation to the most suitable service, product or provider for you and your circumstances. We will only recommend that you use this clause only) service if we believe that it is suitable for your investment requirements but if you would prefer that we exclude it from our considerations please advise us. Disclosure of minor non-monetary benefits we may receive The investment platforms and product providers we recommend make available a variety of technical product and legislative information as well as online tools enabling us to map the performance of clients’ portfolios. This may be in accordance the form of information that is generally available to all financial advisers such as guides on how to complete application forms, projections of future benefits, and confirmation of why their products may be suitable for specific individuals/circumstances. We also have access by telephone and email to technical helpdesks which we use to discuss possible solutions to particularly complex client situations, to request tax calculations and completion of transfer value analyses. These are facilities that platforms and providers make available to all financial advisers with the FCA’s Client Assets Sourcebook (CASS) rulessole aim of enhancing the quality of the service to clients. Platform and product providers and fund managers may also provide us with training presentations in the form of webinars, which are designed and occasionally roadshows, to protect Youexplain legislative or regulatory changes and developments or to describe new products or funds. A copy of these rules is available You can receive more detailed, specific information on all the above on request. We handle client money in either one of the following ways: It is held on Your behalf in a segregated bank account that is subject to a non-statutory trust. The aim of the trust is to protect You in the event of Our financial failure, or the failure of the bank or a third party at which the money may be held. In such a circumstance, Our general creditors (or those of the bank or third party) should not be able to make claims on client money, as such money will not form part of Our (or the bank’s or third party’s) property. The fact that We will hold money on trust gives rise to fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory trust, We are entitled to and may make advances of credit from the trust to enable a client’s premium obligation to be met before the premium is remitted to Us. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a client bank account with an authorised UK clearing bank. Any interest earned on client money that is subject to a non-statutory trust will be retained by Us.

Client Money. In the course of carrying on insurance distribution activities, We do not handle client money. This will be handled on Our behalf by UKGlobal Broking Group Limited (‘We’, ‘Our’, ‘Us’ for the remainder of this clause only) in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. A copy of these rules is available on request. We handle client money in either one of the following ways: It is held on Your behalf in a segregated bank account that is subject to a non-statutory non‐statutory trust. The aim of the trust is to protect You in the event of Our financial failure, or the failure of the bank or a third party at which the money may be held. In such a circumstance, Our general creditors (or those of the bank or third party) should not be able to make claims on client money, as such money will not form part of Our (or the bank’s or third party’s) property. The fact that We will hold money on trust gives rise to fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory non‐statutory trust, We are entitled to and may make advances of credit from the trust to enable a client’s premium obligation to be met before the premium is remitted to Us. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a client bank account with an authorised UK clearing bank. Any interest earned on client money that is subject to a non-statutory non‐statutory trust will be retained by Us.

Client Money. In the course of carrying on insurance distribution activitiesFor your additional security, We we do not handle client moneymoney except as specified in this clause. This will be handled In certain circumstances, we hold funds under a risk transfer agreement for and on Our behalf by UKGlobal Broking Group Limited (‘We’of the insurance providers. In such circumstances, ‘Our’, ‘Us’ we shall hold your funds solely for the remainder purpose of this clause only) settling insurance transactions and fulfilling our obligations as the insurance broker under the risk transfer agreement. Any funds provided by you shall be held in an account separate from our own business accounts and in accordance with applicable laws and regulations. You understand and agree that we shall not use these funds for our own purposes and that the funds shall be promptly remitted to the respecting insurance provider as required in the risk transfer agreement. Accounting to You Whilst we take good care to only deal with and check companies maintain reasonable solvency margins, we cannot guarantee their financial ability to pay claims. If an insurer becomes insolvent, any related premiums we hold for that insurer are deemed to have been paid to them and will not be returnable to you. In the event of any insurer’s insolvency you may still have a liability to pay the premium. We do not accept any liability for any unpaid amounts in respect of claims or return premiums due to you from a participating insurer who becomes insolvent. We will make arrangements for all your contracts to be registered in your name unless you first instruct us otherwise in writing. You have a right to inspect copies of contract notes and entries in our records in relation to transactions on your behalf. In that request we reserve the right to give you copies of such documents rather than access to the original records. We will forward to you all documents showing ownership of your policies as soon as practicable after we receive them. Where a number of documents relating to a series of transactions is involved, we will normally hold each document until the series is complete and then forward them to you. Privacy and Data Protection We process your details for contractual purposes to provide you with insurance quotes, set up and maintenance of your insurance policies including conducting fraud and credit checks in line with the GDPR guidelines. We will treat all information as private and confidential in accordance with the FCA’s Client Assets Sourcebook Data Protection act 1998 (CASS) rulesDPA). Even if you are no longer a customer with JB Brokers Ltd we will only share information if we are required to do so by law, which are designed or regulation. Under the DPA, you have a right to protect Youa copy of any personally identifiable information about you that we hold in our records, you can obtain details by writing to us at the usual address. A fee is not usually payable, however a nominal charge might apply in providing the information to you, should your request be deemed to be excessive. We will, in addition use information for marketing similar products or services by us and carefully selected companies, should you give us consent to do so. Contact may include SMS text, post, telephone or e-mail. A full copy of these rules is available our Privacy Policy will be provided to you as part of our process. Financial Services Compensation Scheme (FSCS) We subscribe to the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on request. We handle client money in either one the type of business and the circumstances of the following ways: It claim. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website xxx.xxxx.xxx.xx Insurance advising and arranging is held on Your behalf in a segregated bank account that is subject to a non-statutory trustcovered for 90% of the claim with no upper limit. The aim of the trust is to protect You in the event of Our financial failure, or the failure of the bank or a third party at which the money may be held. In such a circumstance, Our general creditors (or those of the bank or third party) should FSCS do not be able to make claims on client money, as such money will not form part of Our (or the bank’s or third party’s) property. The fact that We will hold money on trust gives rise to fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory trust, We are entitled to and may make advances of credit from the trust to enable a client’s premium obligation to be met before the premium is remitted to Us. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. Risk transfer applies where money is held by Us as agent of a relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the receipt of premiums. Where risk transfer applies, You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a client bank account with an authorised UK clearing bank. Any interest earned on client money that is subject to a non-statutory trust will be retained by Uscover transport business insurance policies.