If you accept a quotation from us with an indication of terms it will have been based solely on the information you provided in the Bond Application Form (Statement of Needs). If you subsequently instruct us to proceed with that quotation, we will assume you have read and accept this Client Agreement – Terms and Conditions of Business. We provide this information so you can decide whether our services are suitable for you. Warning – Failure to notify a material fact could invalidate your Guarantee/Bond. All underwriting information provided is the responsibility of the applicant.

Who regulates us? :

Surety and Bond, 4 Lakeside, Calder Island Way, Wakefield, WF2 7AW is authorised and regulated by the Financial Services Authority (FSA). Our FSA registered number is 305283. You can check this on the FSA’s register by visiting the FSA website at www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234. We are an independent insurance intermediary and our permitted business is advising, arranging and making arrangements with a view to transactions of non-investment insurance contracts. You should be aware that financial guarantees and performance bonds are not insurance products.

Products:

We are an independent insurance intermediary. We offer products from a range of surety/guarantee providers of a non-investment and investment nature. Bonds and guarantees may be sourced from “Off-shore” providers who are outside the United Kingdom and are not regulated by the FSA. Bonds and guarantees provided by such Companies may not be covered by UK legislation in the event of such a Company’s failure. Bonds and guarantees may also be offered from non rated providers. Acceptance of our non binding indication will confirm that we have made you aware of these points and that you are fully aware of the implications. Copies of all providers’ accounts can be requested for inspection. If you have any doubts on this matter please contact your professional advisors and/or the potential Beneficiary of the product.

Our Service:

Is to assist the parties involved in locating products that meet their individual requirements (demands and needs) for financial guarantees and performance bonds. You will not receive advice or recommendation from us. We may ask some questions to narrow down the selection of providers that we will ask to offer a non-binding indication. You will then need to make your own choice about how to proceed. We cannot guarantee the solvency of any Insurer/Surety provider nor do we have the necessary information to assess or approve security. The financial strength of an Insurer/Surety provider could deteriorate after the bond/guarantee has commenced. You should read the full terms and conditions issued with any non-binding indication and contact your professional advisers if you have any doubts about the suitability.

Disclosure:

It is your responsibility to disclose all material facts correctly when making an application and during the processing of the application. Failure to disclose fully all information may affect the validity of the guarantee.

Confidentiality and Data Protection:

All personal and sensitive information about our Clients is Private and Confidential. We will only use and disclose the information we have in the normal course of arranging and administering the bonds/guarantees. We will not disclose any information to any other party without the written consent of the Client.

Claims:

Non-Investment

We have no authority to handle claims on behalf of Insurers/Guarantors. In the event of an incident occurring

which may lead to a claim, the Insurer/Surety should be notified directly as quickly as possible.

Investment Product

For investment contracts of insurance only, Surety & Bond will liaise with the policy holder and the policy issuer and pass on any sums due to the policy holder upon maturity of the policy immediately upon receipt from the insurer.

Complaints:

It is our intention to provide you with a high level of customer service at all times. If there are any occasions when we do not meet these standards and you wish to register a complaint, please write to us at the address shown above or telephone us on 01924 386300. If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service. Commercial customers with a group annual turnover of £1m or more, charities with an annual income of £1m or more and trustees with an asset value of £1m or more are not eligible to refer their complaints to the Financial Ombudsman Service. A copy of our complaints handling procedure will be forwarded with any complaint acknowledgment. A copy of this is available on request at any time.

Terms of Payment:

Will either be direct to the Insurer/Surety or by arrangement through us for onward transmission to the Insurer/Surety once our fees have been deducted. Your payment if direct to Surety and Bond will be held in a Statutory Trust account in accordance with FSA rules and regulations. All surety providers regard premiums fully earned on the bond inception date.

Remuneration:

We are not party to any placement service agreements, market service agreements nor do we receive contingent commissions, additional commissions, inducements or incentives from any of the providers we deal with for placing agreed volumes of business with them as opposed to any other provider. We have no volume agreements in place. In this respect there is no conflict of interests between the providers we use and our client’s interests. Where commissions are not taken a placing fee will be charged and could be up to a third of the total bond fee. There will be no circumstances where both a placing fee and commissions are taken. Non binding indications will be given on either a commission or placing fee basis and not a combination of both. We use a number of providers where possible and do not approach those providers on the basis of the commissions we receive. Remuneration is either paid directly to ourselves by the Insurer/Surety or is included in the non binding indication. Further details available upon request.

Professional Indemnity Insurance:

Surety and Bond maintains the minimum level of cover required by the FSA.

Compensation:

We are covered by the Financial Services Compensation Service (FSCS). You may be entitled to compensation from the scheme if we fail to meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. Further information about the compensation scheme arrangements is available from the FSCS.

If you are unclear about any of the points made in the above Client Agreement - Terms and Conditions of Business please either ask us or your professional advisers.