REF: GRMWEB. What next?

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1 GRM FFi inanciall Serrviicess LLttd REF: GRMWEB ENDOWMENT POLICY COMPENSATION CLAIM Thank you for recent enquiry regarding your Endowment Policy. You have made an important step in obtaining compensation that could be worth thousands of pounds. Claiming compensation from the endowment policy provider can be a daunting and complicated process. Success crucially depends on identifying the correct areas of complaint and being one step ahead of the endowment policy provider. GRM Financial Services Ltd specialise in conducting mis-selling reviews. Our extensive expertise means that we are ideally placed to help investors get their deserved compensation ensuring firstly that the complaint is handled professionally and in a timely manner and secondly that the compensation offered is appropriate and complies fully with FSA guidelines. When selecting us to represent your case, you will be ensuring the highest possibility of a successful claim. We operate on a no-win-no-fee basis. This means that if after pursuing all available avenues we are not able to obtain a successful claim for you, we will not ask for any fee for all the work that we have completed. When a successful claim is made our fee will be 20% (plus VAT) of the gross compensation awarded by the endowment product provider. Please remember that this is only payable if the claim is successful. What next? Enclosed are an Endowment Compensation Questionnaire, Letter of Authority and Terms of Service. You will need to complete the Questionnaire as fully as possible and sign this for each policyholder. You should also read and sign both the Letter of Authority and Terms of Service. Once we have received the above documents we will undertake a comprehensive assessment of your case. We shall then contact the endowment company and lodge a formal complaint on your behalf. Please note that the entire process may take up to sixteen weeks, however we will endeavour to keep you informed of any major developments with your case. If the claim is successful you will then receive a lump sum cheque payment. One last word of warning, it is important that you do not delay in returning the forms. Doing so may jeopardise the success of your case as some companies are applying regulatory time barring rules to automatically reject cases. If you require any further information please contact our Helpline below. Yours Sincerely Petra Dunnachie GRM Financial Services Ltd HELPLINE NUMBER:

2 GRM FFi inanciall Serrvi icess LLttd ENDOWMENT COMPENSATION QUESTIONNAIRE To help us assess your claim for compensation we need you to complete this questionnaire. These details will help us build your complaint into a strong case for compensation. If you want to claim for more than one policy, please supply the required details for EACH POLICY Most of the information should be found on your policy documents The information you supply will be considered private and confidential and will only be used in connection with your compensation claim If there is insufficient room please use an extra sheet ABOUT YOU Your Name(s): YOU PARTNER Date(s) of Birth At what age do you expect to retire? Did you have any dependants when the policy started? Yes / No Contact Telephone Number: Best Time to Contact: YOUR ENDOWMENT POLICY Which company is your policy with? Policy Number(s): Policy start date: Policy maturity date: The target amount or minimum death benefit : Life / Lives Assured under the policy: HELPLINE NUMBER

3 YOUR MORTGAGE What was the start date of your mortgage? Over how many years: What was the amount of your new mortgage at the time the endowment was taken out? What was the name of the mortgage lender when the endowment started: When the policy started were you a first time buyer or an existing homeowner? (delete as appropriate) First time buyer / Existing homeowner Please can you use the space below to provide details of any changes in mortgage lender or alterations to your mortgage since the endowment policy started eg. House moves, remortgages, further advances or repayment of lump sums. (Note: This information is normally requested by the life assurance company in order to calculate any compensation that may be due) Date Lender Details of change/alteration HELPLINE NUMBER

4 ENDOWMENT COMPLAINT CHECKLIST The information you have already supplied will help us to identify the main areas that the advisor may have fallen short when providing appropriate advice. In order that we can address all areas could you please complete the section below. Please tick either YES or NO to the following questions: When the policy was sold: 1. Did the advisor fully explain how your endowment would be invested and explain the risks involved? 2. Did the advisor tell you to surrender an existing endowment policy in order to set up a new endowment policy? 3. Did the advisor fully discuss other options for repaying the mortgage with you? For example, a repayment mortgage. Please provide any further information that you feel is relevant to your claim: YES NO TERMS OF SERVICE Between: GRM Financial Services Ltd ( the Supplier ) AND: Name (1): (2) ( the Clients(s) Our Services The services provided by the Supplier consist of: (a) (b) (c) (d) An assessment of a potential claim for compensation arising in respect of the mis-selling of an endowment policy by a Third Party* to the Client Representing the Client s claim for compensation where the Supplier considers that there is a potential claim against a Third Party Negotiating and obtaining a settlement figure in respect of the claim with a Third Party Where necessary and deemed appropriate, the Supplier will pursue the case with the Financial Ombudsman Service *[ Third Party refers to any firm or company that sold the Client an endowment policy.] Our Service Charges The Supplier will charge 20% (plus VAT) of the total (i.e. gross without any deduction) compensation recovered. By the signature(s) below, the Client accepts the Company s Terms of Service and Terms & Conditions (overleaf) I / We have read the Terms of Service and the Company s Terms & Conditions (set out on the reverse of this page) and agree to be bound by them. SIGNATURE PRINT NAME Date: SIGNATURE PRINT NAME Date: HELPLINE NUMBER

5 TERMS AND CONDITIONS 1. DEFINITIONS 1.1 In this document, the following expressions shall have the following meanings unless inconsistent with the context:- Expression Meaning Client means any person who purchases Services from the Supplier Consumer shall have the meaning ascribed in section 12 of the Unfair Contract Terms Act 1977; Endowment means the endowment policy as specified on the Proposal form and signed by the Client Proposal means a statement of work, quotation or other similar document describing the services to be provided by the Supplier; Services means the services specified in the Proposal; Supplier means GRM Financial Services Ltd (registered in Scotland, company number SC194877). Terms and Conditions means these terms and conditions as set out in this document together with any special terms and conditions agreed in writing by the Supplier; Third Party means any firm/company which sold the Client the Endowment 1.2 In these Terms and Conditions the singular shall include the plural and vice versa and the masculine shall include the feminine and vice versa 2. GENERAL 2.1 These Terms and Conditions shall apply to all contracts for the supply of Services by the Supplier to the Client and shall prevail over any other documentation or communication from the Client. 2.2 Any variation to these Terms and Conditions shall be inapplicable unless agreed in writing by the Supplier. 2.3 Nothing in these Terms and Conditions shall prejudice any condition or warranty, express or implied, or any legal remedy to which the Supplier may be entitled in relation to the Services, by virtue of any statute, law or regulation or otherwise. 2.4 Nothing in these Terms and Conditions shall affect the Client's statutory rights as a Consumer. 3. DURATION 3.1 These Terms and Conditions will be deemed to have been accepted by the client from the date the Proposal duly signed by the Client is received by the supplier and the supplier s services shall continue, unless earlier terminated in accordance with Clause 10 hereof until the Client is informed in writing that: (a) the Supplier advises the Client that its Services have now reached a conclusion; or (b) the Supplier exercises its right for any reason not to provide Services to the Client 4. CLIENT S RESPONSIBILITIES 4.1 To enable the Supplier to fulfil its obligations in providing Services, the Client hereby agrees:- (a) to co-operate fully with the Supplier; (b) to comply with such other requirements as may be set out in the Proposal or otherwise agreed between the parties hereto; (c) to furnish the Supplier promptly with all such information the Supplier may from time-to-time reasonable request; (d) to ensure and hereby warrants the accuracy of all information furnished to the Supplier, without any relevant omissions or deliberately misleading information; (e) to authorise the Supplier to negotiate with any Third Party or otherwise on the merits of the Client s claim; (f) to authorise the Supplier to accept any settlement/redress/compensation from any Third Party and/or their authorised agents with regard to the Endowment on the Client s behalf (g) to notify the Supplier immediately of any settlement/redress/compensation offered by any Third Party or anyone on their behalf 5. CONFIDENTIALITY 5.1 Neither the Supplier nor the Client will directly or indirectly divulge to any other party, without the written consent of the other party subject matter which relates to the services subject to these Terms and Conditions, except as otherwise required by law or pursuant in carrying out their obligations within these Terms and Conditions save to the extent that such information:- (a) is in the public domain at the commencement date of these Terms and Conditions ( the Commencement Date ); or (b) comes into the public domain after the Commencement Date otherwise than by reason of a breach by the Client of these Terms and Conditions; or (c) is obtained by the Client after the Commencement Date from a third party having a bona fide right to disclose such information to the Client 5.2 All correspondence and working papers prepared as part of this engagement are the property of the Supplier and constitute confidential information. 6. SERVICE CHARGES 6.1 The Service Charges of the Supplier are as indicated in the Proposal and are subject to the prevailing rate of VAT at the time the fees become due and payable. 6.2 The Service Charges are immediately due and payable to the Supplier by the client on the date which a settlement/compensation/redress is received by the client, the Supplier and/or his duly authorised agent from any Third Party 7. LIMITATION OF LIABILITY 7.1 The Supplier shall not be liable to the Client for any loss or damage of any kind whatsoever (whether consequential or otherwise and whatever or not caused directly or indirectly by any negligence, other tortuous act or breach of statutory duty on the part of the Supplier or any of its employees or agents) and all conditions, warranties and stipulations (whether express or implied, statutory, customary or otherwise) which but for such exclusion would or might subsist in favour of the Client are hereby expressly excluded. Such exclusion will not however apply to liability in respect of further personal injury arising out of the negligence of the Supplier 7.2 In the event that any exclusion or other provision contained in this Service Agreement shall be held to be invalid for any reason and the Supplier becomes liable for loss or damage that could otherwise have been limited, such liability shall be limited to ONE THOUSAND POUNDS [ 1,000.00} 7.3 To the extent that any failure to comply with its contractual or statutory obligations on the part of the Client results in the Supplier incurring liability to third parties, the Client hereby agrees to indemnify the Supplier against all consequences of such liability. The Client will be liable for all losses, including commercial losses, costs and interest, which might be sustained by the Supplier or third parties as a result of any failures and/or shortcoming or unlawful action on the Client s part. 8. DATA PROTECTION ACT During the course of supplying, and in order to supply such Services to the Client, the Supplier shall request information about the Client s personal and financial situation from the Client. In some instances it may be appropriate to acquire such information from third parties (i.e. from firms or individuals who act, or have acted as your professional advisers) 8.2 The Supplier may use personal and financial information which they hold about the Client to provide products and services to them, for market research purposes or to inform the Client about the Supplier s products and services which they believe may be of interest to the Client, unless the Client has otherwise informed the Supplier that they do not wish for the data to be used for these purposes. 8.3 Except in the situations listed above or as required by law or other regulation, the Supplier will not pass, disclose, rent or sell the Client s personal information to any third party without the Client s prior written consent. 8.4 If the Client wishes their data to be restricted exclusively for the purposes of the Supplier carrying out the Services, they may request this by writing to the Supplier at PO Box 1978, Livingston EH54 6ZG 8.5 You have the right, by written request and on payment of a fee of 10 (TEN POUNDS), to a copy of any personal data (as defined in the Data Protection Act 1998) which we hold about you. To request such information, please write a letter expressing this and attaching a cheque for the aforementioned amount payable to GRM Financial Services Ltd to the Data Protection Officer at PO Box 1978, Livingston EH54 6ZG 9. FORCE MAJEURE The Supplier shall not be liable for any delay or failure to perform any of its obligations if the delay or failure results from events or circumstances outside its reasonable control, including but not limited to acts of God, strikes, lock outs, accidents, war, fire, breakdown of plant or machinery or shortage or unavailability of raw materials from a natural source of supply, and the Supplier shall be entitled to a reasonable extension of its obligations. 10. TERMINATION The Supplier shall have the right to terminate the contract immediately at any time if:- (a) (b) (c) (d) There occurs at any time a material breach by the client of any of the Terms and Conditions hereof and/or the Supplier has reasonable grounds to believe there has been such a breach ; or The Client becomes bankrupt and/or has entered into any composition or arrangement (whether formal or informal) with his creditors and/or is unable to pay his debts. The Client has the right at any tome prior to a Third Party offering a settlement/compensation/redress to terminate this Service Agreement by giving written notice to the Supplier at PO Box 1978, Livingston EH54 6ZG. In this event, the Client agrees to pay the Supplier the sum of [ ] THREE HUNDRED POUNDS plus VAT at the rate prevailing towards the administration costs incurred by the Supplier. The termination of this Service Agreement howsoever will be without prejudice to the rights and duties of either party accrued prior to termination. The clauses in this Service Agreement which expressly or impliedly have effect after termination will continue to be enforceable notwithstanding termination. 11. WAIVER No failure or delay by the Supplier in exercising any of it rights under this agreement shall be deemed to be a waiver of that right, and no waiver by the Supplier of any breach of this agreement by the Client shall be considered as waiver of any subsequent breach of the same or any other provision. 12. SEVERABILITY If any term or provision of these Terms and Conditions is held invalid, illegal or unenforceable for any reason by any court of competent jurisdiction such provision shall be severed and the remainder of the provisions hereof shall continue in full force and effect as if these Terms and Conditions had been agreed with the invalid, illegal or unenforceable provision eliminated. 13. HEADINGS The legal construction of these Terms and Conditions shall not be affected by the clause headings which are for convenience of reference only. 14. NOTICES (14.1) All notices which are required to be given will be in writing and shall be deemed to have been duly served : - (14.2.1) if delivered by hand, when left at the proper address for service, (14.2.2) if given or made by prepaid first class, 48 hours after being posted (excluding Saturdays, Sundays and public holidays); (14.2.3) if given or made by fax, at the time of transmission following receipt of the appropriate answerback provided that where in the case of delivery by hand or transmission by fax, such delivery or transmission occurs after 4.00pm on a business day (being a day other than a Saturday, Sunday or a public holiday) or on a day other than a business day service shall be deemed to occur at 10 am on the next following business day (such time being local time at the address of the recipient). 15. ASSIGNMENT AND DELEGATION The Client shall not assign or otherwise transfer all or any part of this Service Agreement without the prior written consent of the Supplier. 16. JOINT AND SEVERAL If the Client is more than one person all covenants, agreements, undertakings, representations and warranties on the part of the Client contained herein shall be joint and several. 17. JURISDICTION The formation, construction, performance, validity and all aspects whatsoever of this Service Agreement shall be governed by Scottish Law and the parties hereby agree to submit to the non-exclusive jurisdiction of the Scottish Courts.

6 GRM FFi inanciall Serrvi icess LLttd Letter of Authority Please be advised that the undersigned have instructed GRM Financial Services Ltd to act on my / our behalf in connection with concerns over the sales and advice procedures applied when purchasing the contracts listed below. Life Office Policy Number Please accept this letter as undisputed authority for GRM Financial Services Ltd to act on behalf of the undersigned in connection with a review of any policies purchased from your company and any sales that may have formed part of the policy purchase. This authority includes your agents, representatives and any associates of your firm and it s predecessors. This authority will endure until cancelled in writing. Confidential information in connection with this compensation claim can be released from any relevant filing system you may hold, in accordance with my / our rights under the Data Protection Act to GRM Financial Services Ltd. This letter gives GRM Financial Services Ltd full authority to act on behalf of the undersigned in accepting or rejecting any redress payments offered and to refer this matter to the Financial Ombudsman Service. Any Compensation or Redress payments payable, following these investigations should be made payable to GRM Financial Services Ltd. Payment should be made by sending a cheque to GRM Financial Services Ltd at the address below. All correspondence in connection with this matter should be sent to:- GRM Financial Services Ltd, PO Box 1978, Livingston EH54 6ZG Name of First Policy Holder Signature of First Policy Holder Date of Signing Name of Second Policy Holder (if applicable) Signature of Second Policy Holder Date of Signing Address of Policyholder(s) Postcode: