Common use of Distribution Conditions Clause in Contracts

Distribution Conditions. Distribution Channels Columbus has oversight over how the product is promoted and issued. The following distribution channels and conditions have been assessed as being appropriate to direct the distribution of the product to the target market: ▪ Direct - Online - By phone - In person (e.g. branch, agency, or premises visit) ▪ Third party – Accredited mortgage brokers subject to their Best Interests Duty (BID) obligations The distribution channels and conditions are appropriate because: ▪ the product has a wide target market; ▪ our staff have the necessary training, knowledge and accreditation (if required) to assess whether the consumer is within the target market, all of our staff must continually satisfy annual compliance reviews. ▪ we rely on existing distributors, methods, controls and supervision already in place; ▪ our approval system has checks and controls in place to flag applicants who may be outside the target market; and ▪ accredited mortgage brokers are subject to BID to ensure that the product is in the best interests of the particular consumer.