NACFB Member Services Ltd: Introducer Agreement 

Definitions
findSMEfinance: Online NACFB broker directory                                                      
NACFB Member: The broker                           
The NACFB: NACFB Member Services Limited/NACFB Limited/the Introducer/the Association
Minimum Standards Review: Remote/Telephone based/ Desktop Review/Review

 

Agreement

This agreement should be read in conjunction with the provisions of the Code of Practice of the Association. In the event that a conflict arises, the provisions of the Code of Practice will prevail. An NACFB Member shall be deemed to have read, understood and accepted the terms of the Agreement, at the time their application for findSMEfinance is granted.

The NACFB is engaged in offering financial services products and is authorised by the Financial Conduct Authority (FCA) to carry on Secondary Credit Broking regulated activities in the United Kingdom under the Financial Service and Markets Act 2000 (FSMA).

The NACFB have agreed to form a business relationship with Members of the NACFB in which the NACFB Member may receive from time to time introductions of clients seeking commercial finance or all the products that your firm offers.

The Introducer’s Dealings with the NACFB

The NACFB and the NACFB Member warrant to each other that they each have full power and authority to enter and perform this Agreement.

The NACFB and the NACFB Member shall always act in accordance with all applicable laws and regulations (which for the avoidance of doubt includes FSMA, the regulatory rules and any other relevant guidance or Code of Practice, in respect of all activities conducted under this Agreement).

The NACFB Member shall always act in a manner which upholds the good reputation of the NACFB and in all its dealings with clients.

Minimum Standards Review

The NACFB may conduct a Minimum Standard Review of each NACFB Member from time to time in order to monitor compliance to the Association’s Code of Practice. The Association may engage or appoint another firm or company to carry out such reviews on its behalf. NACFB Members will provide all such information and cooperation as the Association shall reasonably require in order to carry out such Minimum Standards Reviews. The minimum standards reviews may take the form of a visit or a desktop review of management information and documentation.

Failure to adhere to the above may result in termination of your listing on findSMEfinance or termination of Membership of the Association.

Duration and Termination

An NACFB Member shall be deemed to have read, understood and accepted the terms of the Agreement, at the time their application for findSMEfinance is granted.

Either party, giving 1 months’ notice in writing to the other, may terminate this Agreement without penalty or prejudice to the rights or obligations of either party in respect of introductions already effected and transactions already completed by NACFB Members for confirmed clients gained through findSMEfinance.

The NACFB shall be entitled to terminate this Agreement with immediate effect if the NACFB Member:

(a) is in breach of any of its obligations hereunder and, where that breach is capable of remedy, fails to remedy that breach within seven working days of the giving of a notice specifying that breach and requiring it to be remedied;

(b) goes into liquidation or has a liquidator or receiver or administrator appointed over any of its assets or calls a meeting of its creditors;

(c) being an individual, is declared bankrupt;

(d) has had a regulatory consent required for the performance of its obligations under this Agreement cancelled, withdrawn or made subject to any condition which is unacceptable to the other party;

(e) commits any action that the NACFB deems to bring the Association into disrepute, where the termination is at the sole discretion of the NACFB without burden of proof.

Notifiable Events

The NACFB Member will notify the NACFB immediately of any disciplinary action or investigation planned, requested or conducted by any regulator, relating in any way to the introducer or any of its representatives.

General Terms and Conditions

This Agreement comprises the entire Agreement between the parties in relation to the matters referred to herein and supersedes any previous Agreement or arrangement between the parties hereto or in relation to the subject matter of the Agreement.

A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any terms of the Agreement.

If any clause, or clauses, in the Agreement is/are found to be unenforceable the remaining clauses in the Agreement shall not be treated as void or voidable.

In the event of a dispute arising between the NACFB and the NACFB Member, the decision of the NACFB will be final.

The NACFB reserves the right to vary the terms and conditions of the Agreement subject to 1 months’ notice in writing being delivered to the introducer.

The NACFB Member may not assign or transfer any of its rights and obligations under this Agreement. The NACFB may assign all or any part of its rights under this Agreement without the consent of, but after giving notice to the NACFB Member.

This Agreement shall be construed according to and governed by the law of England and each of the parties submits to the non-exclusive jurisdiction of the English courts.