Gallivan FinancialUpper High Street, Killarney, Co Kerry Gramayre Ltd T/A Gallivan FinancialThese Terms of Business set out the general terms under which our firm will provide business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries we will be happy to clarify them. If any material changes are made to these terms we will notify you. Authorisation with the Central Bank of IrelandGramayre Ltd T/A Gallivan Financial is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2018; as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995 and as a Mortgage Intermediary authorised under the Consumer Credit Act, 1995 and as a Mortgage Credit Intermediary under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016. 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. Codes of ConductGramayre Ltd T/A Gallivan Financial are subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards which offer protection to consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie Our ServicesGramayre Ltd T/AGallivan Financial is a member of Brokers Ireland. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions/mortgages/general insurance products. A full list of insurers, product producers and lending agencies with which we deal is available on request. Fair AnalysisThe concept of fair analysis is derived from the Insurance Mediation Directive. It describes the extent of the choice of products and providers offered by an intermediary within a particular category of life assurance, general insurance, mortgages, and/ or a specialist area. The number of contracts and providers considered must be sufficiently large to enable an intermediary to recommend a product that would be adequate to meet a client’s needs.The number of providers that constitutes ‘sufficiently large’ will vary depending on the number of providers operating in the market for a particular product or service and their relative importance in and share of that market. The extent of fair analysis must be such that could be reasonably expected of a professional conducting business, taking into account the accessibility of information and product placement to intermediaries and the cost of the search.In order to ensure that the number of contracts and providers is sufficiently large to constitute a fair analysis of the market, we will consider the following criteria: the needs of the customer, the size of the customer order, the number of providers in the market that deal with brokers, the market share of each of those providers, the number of relevant products available from each provider, the availability of information about the products, the quality of the product and service provided by the provider, cost, and any other relevant consideration. Life & PensionsGramayre Ltd T/A Gallivan Financial provides life assurance, serious illness cover, income protection, savings, investments and pensions on a fair analysis basis i.e. providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable us to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs. Depending on your individual income circumstances, we may provide you with advice in relation to the nature of these producers and which product may be suitable for your needs. You may, however, have particular areas of interest and in this case, we will be happy to give you more detailed advice in these areas. We can give you a choice of different life and pension products from the insurers listed below and, on your instruction, we can receive or transmit orders for such products on your behalf of 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. Life & Pensions:Zurich Life Assurance Plc.Aviva Life & Pensions Ltd.New Ireland Assurance.Royal London/Caledonian Life.Irish Life Assurance PlcScottish Provident/PhoenixQuest Retirement SolutionsBCP Asset Management.Merrion Stock Brokers.Assurant (Ireland) Ltd.Standard Life.Cantor Fitzgerald.Permanent TSB.Blackbee InvestmentsRedmayne Bentley Stock BrokersWe will provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies and we will explain to you the various restrictions, conditions and exclusions attached to your policy. However, it is your responsibility to read the policy documents, literature and brochures to ensure that you understand the nature of the policy cover; particularly in relation to PHI and serious illness policies.Specifically on the subject of permanent health insurance policies it is our policy to explain to you a) the meaning of disability as defined in the policy; b) the benefits available under the policy; c) the general exclusions that apply to the policy; and d) the reductions applied to the benefit where there are disability payments from other sources.For a serious illness policy, we will explain clearly to you the restrictions, conditions and general exclusions that attach to that policy. MortgagesThrough the lenders or other undertakings with which we hold an agency, Gallivan Financial can provide advice on and arrange mortgage products from the following range: fixed-rate loans, variable rate mortgages, capital & interest mortgages, interest only mortgages, endowment mortgages, pension mortgages and residential investment property.Gallivan Financial provides mortgage advice on a fair analysis basis (providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable the firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs). Mortgages:PIBA Network Services LtdWe will need to collect sufficient information from you before we can offer any advice on housing loans. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such information should be produced promptly upon our request. Sustainability Factors- Investments/IBIPs/Pension AdviceIn accordance with the Sustainable Finance Disclosure Regulation (‘SFDR’), we inform you that when providing advice on insurance-based investment products/Investments, we assess, in addition to relevant financial risks, relevant sustainability risks as far as this information is available in relation the products proposed/advised on. This means that we assess environmental, social or governance events/conditions that, if they occur, could have a material negative impact on the value of the investment.We integrate these risks in our advice in the following way: We review product provider literature in relation to sustainability risks, we liaise with the providers in relation to any queries in relation to the funds. This information is reviewed by the firm on an ongoing basis. Considering Principal Adverse Impacts on sustainability factors in the advice:When providing advice on insurance-based investment products (‘IBIPs’) or investment advice we assess the PAI information published by product manufacturers as follows: We will examine the Product Providers literature to establish the Principal Adverse Impacts for the relevant products. The firm will then compare financial products across available providers to make informed investment decisions about the suitability of ESG products for individual clients. Impact on ReturnIf sustainability risks -are deemed relevant: We also assess the likely impacts of sustainability risks on the returns of the IBIPs on which we advise. We estimate that the likely impacts of sustainability risks on the returns of Pensions/Investments are more likely to create and preserve long-term investment capital. Fees & ChargesGramayre Ltd T/A Gallivan Financial are remunerated by commission and other payments from product producers or lenders on the completion of business. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees if the number of hours relating to ongoing advice/assistance exceeds 2 hrs.A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or provided to us which have agreed with product providers is available in our office or on our website – www.gallivanfinancial.ieIn certain circumstances, it will be necessary to charge a fee for services provided. These are listed below for life, non-life business and Standard PRSA’s. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree on the scale of fees to be charged if different from fees outlined below.Where it is not possible to provide the exact amount, we will provide you the method of calculation of the fee.If we receive a commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will become the amount payable to the firm unless an arrangement to the contrary is made. Sustainability Factors – Investment/IBIPs/Pension AdviceWe take due care so that our internal remuneration policy with respect to investment or insurance advice on insurance-based investment products (‘IBIPs’) promotes sound and effective risk management in relation to sustainability risks and does not encourage excessive risk‐taking with respect to sustainability risks.When providing advice, the firm considers the adverse impact of investment decisions on sustainability. As part of our research and assessment of products, the firm will examine the Product Providers literature to compare financial products and to make informed investment decisions about ESG products. The firm will at all times act in the client’s best interests and keep clients informed accordingly. The consideration of sustainability risks can impact on the returns of financial products. Life, Pensions & Life Wrapped InvestmentYou may elect to deal with us on a fee basis. Principles / Directors €100 per hour Senior Advisers €75 per hour Associates €50 per hour Support staff €30 per hour Personal Retirement Savings Accounts (PRSAs)Where advice is requested for PRSAs, the following hourly fees will apply: Advisor fees: €75 per hour. Support staff: €30 per hour.Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency.We will give an estimate of this rate in advance of providing you with services. If we receive a commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will become the amount payable to the intermediary unless an arrangement to the contrary is made. MortgagesWe may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender.In the event of our firm producing a loan offer that is not drawn down, we charge the client €250.00 to cover our overheads i.e. telephone calls, time, paper etc. If a mortgage is redeemed within a 3-year period, a fee will apply. This will cost €500.00 in year one and will reduce in years two and three accordingly. This fee is to cover expenses and loss of commission. If however, you come back to us for further mortgage business this fee will, of course, be refunded. After year three there will be no fee if the mortgage is redeemed. Regular ReviewsIt is in your best interests that you review, on a regular basis, the products which we have arranged for you. As your circumstances change, your needs will change. You must advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us in relation to changes in your circumstances or failure to request a review may result in you having insufficient insurance cover and/or inappropriate investments. Disclosure of InformationAny failure to disclose material information may invalidate your claim and render your policy void. Duty of Disclosure when completing documentation Section 14 (1) – (5) of the Consumer Insurance Contracts Act which is effective from 1st September 2021 alters consumer’s duty of disclosure. You are required to answer all questions posed by us or the insurer honestly and with reasonable care – the test will be that of the ‘average consumer’. Average consumer as per Directive No. 2005/29/EC of the European Parliament and of the Council of 11 May 2005 is reasonably well informed and reasonably observant and circumspect, taking into account social, cultural and linguistic factors. Specific questions will be asked. Where you do not provide additional information (after being requested to do so) it can be presumed that the information previously provided remains unchanged. An insurer may repudiate liability or limit the amount paid on foot of the contract of insurance, only if it establishes that non-disclosure of material information was an effective cause of the insurer entering into the relevant contract of insurance and on the terms on which it did. Completed proposal forms/statement of suitabilityCompleted proposal forms or Statement of Suitability will be provided to you, these are important documents as they form the basis of insurance contract between the insurer and you the consumer. You should review and confirm that the answers contained within are true and accurate. Conflicts of interestIt is the policy of our firm to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing as soon as we become aware of this conflict before providing you with any service. A full copy of our conflicts of interest policy is available on request. Default on payments by clientsOur firm will exercise its legal rights to receive payments due to it from clients (fees and insurance premiums) for services provided. 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.Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments. ComplaintsWhilst we are happy to receive verbal complaints, it would be preferable that any complaints are made, in writing. We will acknowledge your complaint within 5 business days and we will fully investigate it. We shall investigate the complaint as swiftly as possible, and, the complainant will receive an update on the complaint at intervals of not greater than 20 business days starting from the date on which the complaint is made. On completion of our investigation, we will provide you with a written report of the outcome. 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 Financial Services and Pensions Ombudsman (FSPO). A full copy of our complaint’s procedure is available on request. Data ProtectionGramayre Ltd T/A Gallivan Financial are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018..Gramayre Ltd T/A Gallivan Financialis committed to protecting and respecting your privacy. We wish to be transparent on how we process your data and show you that we are accountable with the GDPR in relation to not only processing your data but ensuring you understand your rights as a client. The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice; this will be given to all our clients at the time of data collection. We will ensure that this Privacy Notice is easily assessable. Please refer to our website (https://www.gallivanfinancial.ie/privacy) if this medium is not suitable, we will ensure you can easily receive a copy by; hard copy, telephonic environment.Please contact us at firstname.lastname@example.org if you have any concerns about your personal data. New BusinessYou may cancel a contract of insurance, by giving notice in writing to the insurer, within 30 working days after the date you were informed that the contract is concluded. This does not affect the notice periods already provided under European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015) or the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 (S.I. No. 853 of 2004) which is 30 days in respect of life policies, irrespective of whether the sale took place on a non-face to face basis.This right to cancel does not apply where, in respect of life insurance the contract is for a duration of six months.You are under a duty to pay your premium within a reasonable time, or otherwise in accordance with the terms of the contract of insurance.A court of competent jurisdiction can reduce the pay-out to you if you are in breach of your duties under the Act, in proportion to the breach involved. Compensation SchemeAn insurer may refuse a claim made by you under a contract of insurance where there is a change in the risk insured, including as described in an “alteration of risk” clause, and the circumstances have so changed that it has effectively changed the risk to one which the insurer has not agreed to cover. Any clause in a contract of insurance that refers to a “material change” will be interpreted as being a change that takes the risk outside what was in the reasonable contemplation of the contracting parties when the contract was concluded. You must cooperate with the insurer in an investigation of insured events including responding to reasonable requests for information in an honest and reasonably careful manner and must notify the insurer of the occurrence of an insured event in a reasonable time.You must notify the insurer of a claim within a reasonable time, or otherwise in accordance with the terms of the contract of insurance. If you become aware after a claim is made of information that would either support or prejudice the claim, you are under a duty to disclose it. (The insurer is under the same duty). If you make a false or misleading claim in any material respect (and know it to be false or misleading or consciously disregards whether it is) the insurer is entitled to refuse to pay and to terminate the contract. Where an insurer becomes aware that a consumer has made a fraudulent claim, they may notify the consumer advising that they are voiding the contract of insurance, and it will be treated as being terminated from the date of the submission of the fraudulent claim. The insurer may refuse all liability in respect of any claim made after the date of the fraudulent act, and the insurer is under no obligation to return any of the premiums paid under the contract. Compensation SchemeWe are members of the Investor Compensation Scheme operated by Investor Compensation Company Ltd. Investor Compensation SchemeThe 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 scheme and our firm 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 the firm cannot be returned to those clients for the time being and where there is no reasonably foreseeable opportunity of the firm being able to do so.A right to compensation will arise only:If the client is an eligible investor as defined in the Act; andIf it transpires that the firm is not in a position to return client money or investment instruments owned or belonging to the clients of the firm; andTo the extent that the client’s loss is recognised for the purposes of the Act. Where entitlement to compensation is established, the compensation payable will be the lesser of:90% of the amount of the client’s loss which is recognised for the purposes of the Investor Compensation Act, 1998; orCompensation of up to €20,000. For further information, contact Investor Compensation Company Ltd. at (01) 224 4955. Brokers Ireland Clients’ Compensation and Membership Benefits Scheme (BIC) We are also members of the Brokers Ireland Clients’ Compensation and Membership Benefits Scheme (BIC). Subject to the rules of the scheme the liabilities of its members firm up to a maximum of €100,000 per client (or €250,000 in aggregate) may be discharged by the fund on its behalf if the member firm is unable to do so, where the above detailed Investor Compensation Scheme has failed to adequately compensate any client of the member. Further details are available on request.