- Definitions and Interpretation
1.1 In this Agreement the following words have the following meanings:
“Agreement ” this agreement between Concorde Currency and the Introducer;
“Associated Company” an associated company (within the meaning of the Income and Corporation Taxes Act 1988 Section 416(1)) of the Company’s Act;
“Authorised Representative” the people Authorised from time to time as representatives for Concorde Currency and Introducer respectively.
“Business Day” any day that is not a Saturday, Sunday or public holiday in England;
“Client” a client of Concorde Currency for foreign exchange services directly introduced to Concorde Currency under this exclusive Agreement by the Introducer;
“Confidential Information” any information that is received from the disclosing party for the purposes of providing or receiving Services that if disclosed in tangible form is marked confidential or if disclosed otherwise is confirmed in writing as being confidential or, if disclosed in tangible form or otherwise, is manifestly confidential and shall include this Agreement, the relationship between the parties and each of their respective intellectual property, knowhow and trade secrets;
“List” the Introducer’s list of prospective Clients to be introduced to Concorde Currency by or through the Introducer; and
“Party” Concorde Currency or the Introducer and “parties” shall be construed accordingly.
“Revenue” is defined as the profit generated from the difference between the rate accepted by the client and the bank rate designated by Concorde Currency (“the spread”)
1.2 In this Agreement:
1.2.1 clause headings are for convenience and do not affect the Agreement’s interpretation
1.2.2 the words “subsidiary” and “holding company” have the meanings given them by section 736 of the Companies Act l985;
1.2.3 any reference to a statute, statutory provision or subordinate legislation shall be construed as referring to:
220.127.116.11 such legislation as amended and in force from time to time and to any legislation that (either with or without modification) re-enacts, consolidates or enacts in rewritten form any such legislation; and
18.104.22.168 any subordinate legislation made under the same before (but not after) the date of this Agreement;
1.2.4 reference to a date that is not a Business Day shall be treated as a reference to the next Business Day;
1.2.5 references to “include” and “including” are to be construed without limitation.
- Scope of Services (the “Services”)
2.1 The Introducer will provide Concorde Currency with introductions to prospective clients. Such introductions from the Introducer must be formalised via our website or in writing by email prior to any foreign exchange transactions taking place with a proposed introduced client
2.2 The inclusion and addition of such prospective Clients to the List shall be subject to approval by Concorde Currency (which may be withheld or refused at Concorde Currency’s absolute discretion). Concorde Currency will approve or reject any additions to the List in writing or by e-mail.
2.3 Nothing in this Agreement shall prevent Concorde Currency from procuring similar Services from other sources.
2.4 These conditions are the minimum requirements on which Concorde Currency is prepared to deal with the Introducer and they govern the conduct of the parties in relation to the Services to the entire exclusion of all other terms or conditions.
2.5 The Introducer is an independent contractor and neither party is an agent or partner of the other.
3.1 In consideration of the full and proper provision of the Services, Concorde Currency shall pay the Introducer the quoted percentage in respect of Revenues made from foreign exchange transactions on behalf of clients on the List net of any and all transaction fees, which shall include but not be limited to, sales commissions, on-boarding costs and applicable bank fees. The Introducer’s fee shall be paid, as long as the amount due is over £100, within 30 Business Days after the end of each calendar month.
3.2 International payment charges and on-boarding cost may be subject to change.
3.3 The Introducer is responsible for payment of all taxes to the applicable government bodies.
3.4 Training Course and Consultant Access prices quoted are net of VAT and will be subject to VAT at applicable rates where due.
3.5 Training Course and Consultant Access prices may be subject to change.
- Warranties and Indemnities
4.1 All monies held will be deemed to be held on behalf of clients and not the property of the Introducer. All incoming credits will be made to the Concorde Currency designated segregated clients account and all outbound wires will be to the official clearer or the clients bank account as nominated by the Introducer.
4.2 The Introducer warrants, represents to and undertakes with Concorde Currency, on a continuing basis that:
4.2.1 it shall provide the Services in a professional and competent manner to the satisfaction of Concorde Currency and in compliance with all applicable laws, enactments, orders, regulations, standards and other similar instruments;
4.2.2 it shall provide the Services with reasonable care and skill, which shall include, without limitation, a duty to act with utmost good faith and diligence with respect to its obligations under the Agreement and in accordance with best industry practice and standards generally applicable to the Services.
5.1 Neither party will disclose Confidential Information of the other party to any third party without the prior written consent of the disclosing party.
5.2 Each party agrees that any Confidential Information received from the other party shall only be used for the purposes of providing or receiving Services under this Agreement. These restrictions will not apply to any information that:
5.2.1 is or becomes generally available to the public other than as a result of a breach of an obligation under this clause 5;
5.3 Notwithstanding clause 5.1, each party will be entitled to disclose Confidential Information of the other (i) to their respective insurers or legal advisers (in the case of legal advisers for the purposes of any actual or threatened dispute between the parties), or (ii) to a third party to the extent that this is required, by any court of competent jurisdiction, or by a governmental or regulatory authority or a professional body of which the party wishing to make the disclosure or its personnel (including its contractor personnel) are members and which is relevant to the Services, or where there is a legal right, duty or requirement to disclose, provided that (and without breaching any legal or regulatory requirement) where reasonably practicable not less than 2 business days’ notice in writing is first given to the other relevant party.
5.4 Notwithstanding clause 5.1 above the Introducer may disclose Confidential Information to its employees and approved sub-contractors on a need to know basis for use for the purpose of providing the Services subject to (i) the Introducer ensuring that such persons are advised of the confidential nature of the information and are contractually bound by appropriate obligations of confidentiality before such disclosure is made; and (ii) the Introducer being primarily liable for any breach of confidentiality by any such employees and/or sub-contractors.