Common use of TERMINATION OF THE RELATIONSHIP Clause in Contracts

TERMINATION OF THE RELATIONSHIP. The recognition of a broker under these Terms of Business is at our sole and absolute discretion. If we want to withdraw recognition we will give ninety (90) days’ written notice. 3.5.1 We will withdraw recognition of a broker without notice if the broker: a) Commits an act of bankruptcy, or becomes insolvent, or compounds with its creditors, or if a resolution is passed or proceedings start for its liquidation, or if a receiver, administrator or manager is appointed in respect of all or part of its assets or undertaking. b) Breaches these Terms of Business and either the breach cannot be remedied or, if it can be, it is not done within thirty (30) days of the broker receiving written notification from us specifying the breach. c) Ceases to be authorised by the FCA or ceases to comply with its Rules, including the Handbook or ceases to hold adequate Professional Indemnity insurance or is deemed not to have sufficient resources and competence to adequately service a Credit Insurance contract. d) Ceases to be registered under the applicable General Data Protection Regulation or ceases to hold and process data in accordance with that Regulation. e) Fails to bring to our immediate attention any non-disclosure of material information by a client or a prospective client that has come to their attention. f) Is administering and operating accounts in a manner that is causing, or likely to cause, prejudice to the client or to us. 3.5.2 We reserve the right to cease both to do business with and to pay commission to any broker in respect of any contract or account which, in our opinion, the broker is failing to service or administer satisfactorily. 3.5.3 In the event a client commits an act of bankruptcy, or becomes insolvent, or compounds with their creditors, or if a resolution is passed or proceedings start for their liquidation, or if a receiver, administrator or manager is appointed in respect of all or part of his assets or undertaking then we will deem the agreement between the broker and the client as terminated. 3.5.4 In the event of a termination, for whatever event, we are entitled to a rebate in respect of commission paid in advance for the year, which we may without prejudice to any other rights, set off against any future earnings due to the broker.

TERMINATION OF THE RELATIONSHIP. The recognition of a broker under these this Terms of Business Agreement is at our sole and absolute discretion. If we want to withdraw recognition we will give ninety (90) 90 days’ written notice. 3.5.1 3.4.1 We will withdraw recognition of a broker without notice if the broker: a) Commits an act of bankruptcy, or becomes insolvent, or compounds with its his creditors, or if a resolution is passed or proceedings start for its his liquidation, or if a receiver, administrator or manager is appointed in respect of all or part of its his assets or undertaking. b) Breaches these Terms of Business and either the breach cannot be remedied or, if it can be, it is not done within thirty (30) 30 days of the broker receiving written notification from us specifying the breach. c) Ceases to be authorised by the FCA or ceases to comply with its Rules, including the Handbook or ceases to hold adequate Professional Indemnity insurance or is deemed not to have sufficient resources and competence to adequately service a Credit Insurance contract. d) Ceases to be registered under the applicable General Data Protection Regulation or ceases to hold and process data in accordance with that Regulation. e) Fails to bring to our immediate attention any non-disclosure of material information by a client or a prospective client that has come to their attention. f) Is administering and operating accounts in a manner that is causing, or likely to cause, prejudice to the client or to us. 3.5.2 3.4.2 We reserve the right to cease both to do business with and to pay commission to any broker in respect of any contract or account which, in our opinion, the broker is failing to service or administer satisfactorily. 3.5.3 3.4.3 In the event a client commits an act of bankruptcy, or becomes insolvent, or compounds with their creditors, or if a resolution is passed or proceedings start for their liquidation, or if a receiver, administrator or manager is appointed in respect of all or part of his assets or undertaking then we will deem the agreement between the broker you and the client as terminated. 3.5.4 3.4.4 In the event of a termination, for whatever event, we are entitled to a rebate in respect of commission paid in advance for the year, which we may without prejudice to any other rights, set off against any future earnings due to the brokeryou.