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INTERMEDIARY AGREEMENT This Agreement sets out the terms of business which will apply to an Intermediary that introduces Customers to the Company who wish to apply for Mortgages, Loans, Debt Management, IVA, Trust Deed, Full and Final Settlement, Bankruptcy or insurance products. The terms of this Agreement will come into effect on the date the intermediary registered and remain in force until terminated in accordance with the clauses stated below. DEFINITIONS 'Company' means MONEY DEBT AND CREDIT LTD. COMPANY NUMBER 05588842 REGISTERED ADDRESS 45 CLARENDON ROAD, WATFORD, WD17 1SZ 'Intermediary' means the company who submits business through the Money Debt And Credit broker portal 'Customers' means any person who has submitted or who may submit a fully completed application to the Company via the Intermediary 'Law' means all relevant legislation including the Consumer Credit Act 1974, Data Protection Act 1998, Money Laundering Regulations 2003 including all regulatory rules or guidelines and non statutory industry codes that are in force from time to time, in so far as they relate to the performance of the various obligations under this Agreement 'Licences' means licences, authorisations and approvals held by the Intermediary in accordance with the Law 'Business' means the business and activities associated with submitting or placing business with the Company on behalf of its Customers 'Procedures' means such procedures as may be specified by the Company and notified to the Intermediary from time to time 'Product Documentation' means any document or Financial Promotion which is produced from time to time by the Intermediary relating to the Business 1. APPOINTMENT OF INTERMEDIARY 1.1 The Intermediary and Company acknowledges that it has no authority or power to bind the other party to create any liability on behalf of the other party in any way and shall not represent so to any party. The intermediary will not approve loans and/or other relevant products. 1.2 The Intermediary acknowledges that it is an independent contractor and is not an agent of the Company and agrees not to hold itself out in any way as the Company's authorised agent without the Company's prior written consent. 1.3 The Intermediary and Company agrees to obtain and maintain all Licences necessary for it to conduct the Business and that it will conduct itself strictly in accordance with those Licences. 1.4 The Intermediary and Company agrees that it will comply with all Applicable Laws and the Procedures and that it shall not knowingly do or omit to do anything that would cause the other party to be in breach of the Applicable Laws and that it shall inform the other party immediately if it becomes aware of or suspects a breach of any of the terms of this Agreement. 1.5 The Intermediary and Company agrees that it shall not act in any way which could reasonably be expected to have an adverse effect on the general reputation of the other party. 1.6 The Intermediary and Company shall not use the name or the logo of the other party in any Financial Promotions (as defined in the Applicable Laws) or other documentation which it may produce, unless agreed by the other party prior to use. 1.7 In consideration of the services to be performed by the Intermediary, the Intermediary shall be entitled to receive such commission as shall be agreed from time to time. 1.8 The Intermediary undertakes that it is responsible for the compliance of all Product Documentation with the Applicable Law and that it will take reasonable endeavors to ensure that it will not give any documents or information to the Company which it knows or reasonably believes to be inaccurate. 1.9 The Intermediary and Company shall provide such information as the other party requires to comply with its obligations under the Applicable Laws and will immediately notify the other partry of any actual or proposed change or variation to its Authorisation and Licences. 1.10 The Intermediary shall, both during and after termination of this Agreement, promptly and full co-operate with any reasonable requests of the Company to verify the Intermediary compliance with the Applicable Law and the Licences including giving any representative of the Company (including its auditors) unrestricted access to the Intermediary's business premises and to all records relating to the Business. 2. GENERAL 2.1 The Intermediary and Company shall indemnify and keep indemnified the other party from and against all loss, damage or liability (whether criminal or civil) and legal fees and costs incurred by the other party directly as a consequence of a breach by one of the parties of any of its obligations under this Agreement or under the Applicable Law, including but not limited to any act, neglect or default of any staff or any other person contracted to the Intermediary or Company. 2.2 The Intermediary shall keep a complete, accurate and up-to-date record of the Business conducted under this Agreement as may be required to show at any time that it has complied with the requirements of the Applicable Law, the Licences and the Procedures. This record will be available upon reasonable notice for inspection and copying by the Company. 2.3 The Company and intermediary shall not be liable in any way for any delay, hindrance or failure to perform its obligations or for loss, damage or delay incurred resulting from circumstances beyond its reasonable control. 2.4 The Intermediary agrees that it shall be responsible for all advice and recommendation given to the borrower. The Intermediary understands and agrees that the Company only acts in its capacity as a packager/distributor of Loan products.. 3. SECURED LOANS 3.1 Commissions from the lender will be paid directly to the Company. 3.2 The Company will pay the Intermediary the following week after receiving commission from the lender by BACS payment or cheque whichever is preferred 3.3 The intermediary understands the most secured loan lenders require the borrower to maintain the Loan for a minimum period , falling which Money Debt and Credit Ltd has the right to receive full return of the procuration fee / commission that was paid to the introducer following completion of the loan ('claw back'). 3.4 Only as a consequence of 3.3 above, the introducer agrees to reimburse the company in full for all fees/commissions it received on the loan that is subsequently subject to the claw back . 3.5 The company reserves the right to offset outstanding claw back commissions/fees due from the intermediary against any other monies owed by the company to the intermediary from all other business 3.6 The Company will retain the following commission on every case in relation to the NET loan size. 3.7 After any processing costs have been deducted the Company will retain 50% net profit. 4. DM 4.1 The company will pay the intermediary a sum of £150 per DM completion. The amount will be paid via BACS or cheque 30 days after the customer has made their first payment. 5. IVA 5.1 The company will pay the intermediary a sum of £400 per IVA completion. The amount will be paid via BACS or cheque 30 days after the customer has made their first payment. 6. Full and Final Settlements 6.1 The company will pay the intermediary 30% of the money received from the customer. This will be capped at £500 and will be paid the following week after receiving the funds. 7. Trust Deed 7.1 The company will pay the intermediary a sum of £150 per TD completion. The amount will be paid via BACS or cheque the following week after receiving the funds. 8. Bankruptcy 8.1 The company will pay the intermediary a sum of £50 per BK completion. The amount will be paid via BACS or cheque the following week after receiving the funds. 9. TERMINATION 9.1 The Company and the Intermediary may terminate this Agreement with immediate effect at any time by serving 30 days' written notice of termination upon the other. 9.2 The Company and Intermediary shall be entitled to terminate this Agreement with immediate effect at any time if time one party reasonably believes the other party to have committed a material breach of its obligations under this Agreement or under the Applicable Law or Licences. 9.3 Termination for any reason shall be without prejudice to any rights, claims or actions which one party may have against another in respect of any matter occurring prior to termination. 10. VARIATION 10.1 The Company may vary the Procedures at any time providing 30 days written notice unless agreed otherwise by the Company and the Intermediary. Notice of any variation to the Procedures will be notified in writing. It is the responsibility of the Intermediary to ensure that it keeps up-to-date with any changes to the Procedures. 10.2 No variation of this Agreement or waiver of any rights will be effective unless it is in writing and signed by a director of the Company and the Intermediary. 11. CONFIDENTIALITY 11.1 The Intermediary and Company shall treat as confidential the terms of this Agreement, the Procedures and such other information as the Company may make available to the Intermediary in connection with this Agreement. 11.2 The Intermediary and Company shall not without the prior written consent of the other use or disclose to a third party any such confidential information, save as is necessary for the performance of its duties under this Agreement. This clause shall continue in effect beyond the term of this Agreement. The Intermediary shall return all records (including computer software, stationery and records) belonging to the Company and which are in the Intermediary's possession immediately when requested to do so by the Company and vice versa. 12. ASSIGNMENT If the Intermediary or Company assigns, delegates, transfers or sub-contracts its rights or obligations under this Agreement to any Appointed Representative (as defined in section 39 of the Act) or to any person ("a Delegatee") it must obtain the written consent from the other party and ensure that any Delegatee will comply with the provisions of this Agreement and the party that has assigned, transferred of sub contracted the work shall remain liable for any act or omission of its Delegatee as if such act or omission were its own. 13. SCOPE OF AGREEMENT This Agreement forms the entire agreement between the parties relating to the appointment of the Intermediary as an Intermediary introducing Customers to the Company and supersedes all earlier meetings, discussions, correspondence, agreements and understandings of any kind. This Agreement shall be governed by and construed in accordance with English law and the parties hereby irrevocably submit to the exclusive jurisdiction of the English courts, except where the Intermediary is a firm incorporated in Scotland or Northern Ireland in which case the Agreement may be governed and construed in accordance with the law prevailing in either of these jurisdictions as appropriate and the parties may instead submit to the jurisdiction of the Scottish or Northern Irish courts. Click here for a PDF version of the Intermediary Agreement
I acknowledge that I have read the terms of the above Intermediary Agreement and agree that it will apply in respect of Business introduced by me from today, .

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