Terms and Conditions of Business

Those who advise on Life Assurance, Pensions or Unit Trust products are either INDEPENDENT ADVISERS or REPRESENTATIVES OF ONE COMPANY. Cavendish Online is INDEPENDENT and will act on your behalf in arranging life assurance pensions or unit trust products. Because Cavendish Online is independent it can arrange the products of different companies.

Full Disclosure of Information:

Cavendish Online, 8 Bay Chambers, West Bute Street, Cardiff Bay, CF10 5BB is regulated and authorised by the Financial Services Authority (FSA). Cavendish Online is authorised to advise on investments and arrange the following: Individual Savings Accounts; Authorised Unit Trusts; Investment in Personal Equity Plans, Investment Trusts; Pensions; Life Assurance; Investment Bonds and Offshore Funds. Cavendish Online is bound by the rules of the Financial Services Authority.

Cavendish Online provides an "execution only" service for clients who have not sought or received any advice from us. If you have any doubt about the suitability of the investment or product we recommend you consult a independent financial adviser.

In the event that we, or one of our clients, have some form of interest in business which we are transacting for you, or if we become aware that our interests or those of one of our other clients conflict with your interests, we will inform you and obtain your consent before we carry out your instructions.

We require our clients to give us written instructions to act on their behalf. We will accept your instructions by mail, email or by fax. We will confirm all such instructions by email or mail.

You or we may terminate our authority to act on your behalf at any time without penalty. Notice of this termination must be given in writing. In case of termination of our authority, we will retain the right to any renewal commission on policies and investments arranged by us on your behalf unless or until you change the agency of your plan to another adviser.

Remuneration

We derive our income solely from fees paid to us in respect of transactions in life assurance, regulated collective investment schemes and pensions. We shall tell you the amount of commission payable to us on any such investment and the discount(s) to which you are entitled.

If the client ceases to pay premiums on an investment that we have arranged on their behalf and Cavendish Online is obliged to refund commission to the issuing company, then we reserve the right to reclaim any commission that has been paid out to the client.

Wherever possible, all commission will be reinvested into your investment or returned to you within the terms of our renewal commission service.

Renewal Commission Service

Renewal commission is paid to Cavendish Online by Investment and Insurance Companies based upon the value of your investments held with them. Under this service Cavendish Online will in no circumstances be liable to pay commission in excess of the commission received in respect of your plans registered with Cavendish Online.

Cavendish Online is not responsible for the amount of commission received, but will always endeavour to collect all renewal commission due in respect of the plans that you have registered with Cavendish Online.

We retain the right to alter our fees subject to three months notice to the client of our intention to do so.

Administration

WE DO NOT HANDLE CLIENT'S MONEY. We will never accept a cheque made payable to Cavendish Online for forwarding to investment companies (unless it is a cheque for our transaction fees). We will not handle cash.

We will make arrangements for all your investments and policies to be registered in your name unless you first instruct us otherwise in writing.

We will forward to you all documents showing ownership of your investments as soon as practicable after we receive them; where a number of documents relating to a series of transactions is involved, we would normally hold each document until the series is complete and then forward them to you. All documents are sent by mail to the last known address and at the client's risk. We do not normally use the Guaranteed Delivery Service.

Due to the nature of our service, we will not review any investment you have purchased via our company. You will, however, have the facility to have your investments reviewed through Cavendish Financial Management.

We keep records of all our business transactions for at least six years. You or your appointed agent may inspect contract notes, vouchers and entries in our books (whether kept manually or electronically) that relate solely to your investments. As we treat all our clients' records as confidential, we reserve the right not to give you copies of your records if to do so would allow access to files containing records about other clients. We will supply a list of transactions at no cost, but we reserve the right to charge a fee for copies of records. Currently, our charges are £25 per file or part thereof.

Cavendish Online maintains Professional Indemnity Insurance that satisfies the level of cover stipulated by the FSA.

If you should have any complaint about a product or service which you have bought, please write to the Compliance Officer, Cavendish Online, 8 Bay Chambers, West Bute Street, Cardiff Bay, CF10 5BB.

Data Protection Act

Cavendish Online retains all relevant client information on computer files. This information is only disclosed to third parties for the purpose of processing applications. We will use this information to contact clients by email, post or telephone to bring to the clients attention any additional products or services that we believe may be of interest to the client. We agree that the client may withdraw this right at any time by contacting Cavendish Online through email or post.

Financial Services Compensation Scheme and the Financial Ombudsman

If you make a valid claim against Cavendish Online in respect of the investments we have arranged for you, and we are unable to meet our liabilities in full, you may be entitled to redress from the Financial Services Compensation Scheme. Details of the cover provided by the Scheme are given in a leaflet, which we will send you at your request. In summary claims relating to insurance advising and arranging are covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. For compulsory classes of insurance, claims relating to insurance advising and arranging are covered for 100% of the claim, without any upper limit. Claims relating to mortgage advising and arranging are covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation available is £48,000. Most types of investment business claims are covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.

Please be aware that buying protection products without advice will affect your right to recourse via the Financial Ombudsman Service, although this is only in the event of the suitability of a product bought on an execution-only basis. You could still take a claim to the ombudsman about the service that you have received, unclear or misleading information or that you received information equivalent to advice prior to an execution-only sale taking place.

The terms of this agreement are issued to you in compliance with the requirements of our regulatory body, the Financial Services Authority. Should any of the aforementioned terms change in any material way, a revised Terms of Business document will be issued to you. Where it is necessary to charge fees, we shall charge you fees.

Our current fee scale is shown below:
FEE SCALE £50 per hour plus disbursements. Such fees are subject to VAT.
Please note that you will not be charged fees unless you have been advised to the contrary in advance of incurring any such fees.