Monitum Ltd Terms of Business

Please read our Terms of Business below.

If you have any queries about the contents, please call us on 1890 733863.


We would be grateful if you could sign an
Acknowledgement of receipt
of Terms of Business

and return it to:

Monitum Ltd,
17 Faughart Terrace, St Mary's Road,
Dundalk, Co Louth.

Statement of Authorised status
from Central Bank of Ireland



These terms of business set out the general terms under which Monitum firm will provide insurance and investment business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure to read these thoroughly and if you have any queries, please contact Nick Mc Grane, who will be happy to clarify any queries you may have.

Firm name and contact details:
Monitum Ltd.
17 Faughart Terrace, St Mary's Road, Dundalk, Co Louth
Tel: (1890) 733863
Email: Nick.McGrane@monitum.com

Regulatory Status with the Central Bank of Ireland
Monitum is regulated by the Central Bank of Ireland ref number 8154. We refer you to our Statement of Authorised Status - as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005; as a Multi-Agency Intermediary authorised under the Investment Intermediaries Act, 1995. Copies of our regulatory authorisations are available on request. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials.

Our Services
Monitum Ltd is an Insurance Broker, and is a member of the Professional Insurance Brokers Association (PIBA). Insurance Brokers must be in a position to place insurance with at least five Insurers of the relevant form (life/non-life) and therefore can give consumers greater choice than agents and tied agents. We hold written appointments from the product producers set out in appendix 1 to this document.

Life & Pensions
Life Assurance companies provide products such as Lifecover, Serious Illness cover, Income Protection, Savings, Investments and Pensions. Depending on your individual circumstances, we may provide you with advice in relation to the nature of these products and which product may be suitable for your needs. You may however wish to focus our advice on areas of particular interest to you. We can give you a choice of different life and pension products from the Insurers listed in appendix 1 and, on your instruction, we can receive and transmit orders for such products on your behalf to these Insurers. With your agreement, we may review the policies you take out on a periodic basis to ensure you are kept informed as to their benefit and to check whether they are still suitable for your needs. We will also provide assistance to you for any queries you may have in relation to the policy or in the event of a claim during the life of the policy.

Alternatively, you may wish to proceed on an execution only basis. This is where you are aware of the product you require and you do not want advice. A separate risk warning disclosure must be signed in this case.

Commission and Charges
Monitum Limited is remunerated by commission and other payments from the completion of business with the product producers listed in appendix 1. In certain circumstances where fees are chargeable, we will notify you in advance.

It is the policy of Monitum Ltd to reduce or refund a substantial part of these commissions where possible to provide better value to our clients.

Execution only business will usually be conducted on a fee basis with the product being set up on a nil commission basis.

These fees are reviewed regularly and from time to time Monitum Ltd will offer "specials" on various products. At all time you will be advised of the current fee or commission structure.

Conflicts of interest
It is the policy of our firm to avoid conflicts of interest in providing you with insurance and investment business services. If this is not possible, we will notify you in writing in advance of completing such services.

Default on payments by clients
Our firm will exercise its legal rights to, receive payments due to it from clients for investment business services provided and, in recovering any commissions rebated to clients that are now being clawed back from Monitum by an insurer. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client.

Insurers and other product producers may withdraw benefits or cover in the event of default on payments due under polices of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.

Complaints
We would ask that you make any complaint in relation to investment business services against our firm in writing. We will acknowledge your complaint within 14 days and we will fully investigate this. On completion of our investigation, we provide a written report to you on the outcome of this investigation. In the event that you are still dissatisfied with our handling of or response to your complaint, you are entitled to refer the matter to the Central Bank of Ireland. A full copy of our complaints procedure is available on request.

Compensation Scheme
We would remind you that it is not within our terms of authorisation to accept cash or negotiable instruments accept where an Insurer indemnity applies. For your added protection, we are members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd - see appendix 2 for details.


Appendix 1: List of Product Producers

Life & Pensions

Aviva Life & Pensions Royal London
Friends First Standard Life
Irish Life Zurich Life
New Ireland

Stockbroking

Campbell O'Connor
Government Stockbrokers
Merrion Stockbrokers


Appendix 2: Investor Compensation Scheme
The Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act.

The Investor Compensation Company Ltd (ICCL) was established under the 1998 Act to operate such a compensation and Monitum Ltd is a member of this scheme.

Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by Monitum Ltd cannot be returned to those clients for the time being, and there is no reasonably foreseeable opportunity of Monitum Ltd being able to do so.

A right to compensation will arise only:

Where an entitlement to compensation is established, the compensation payable will be the lesser of:

For further information, contact the Investor Compensation Company Ltd on (01) 434 4000.