Common use of Fees and Commission Clause in Contracts

Fees and Commission. 4.1 RUL will notify to the Intermediary in writing the types of Policy in relation to which RUL will accept business from the Intermediary. RUL may amend such Policy types from time to time on the number of days’ notice set out in Schedule 1, or on immediate notice if changes are required by RUL for legal reasons or in order to comply with any Regulatory Requirement or for any reason relating to reinsurance arrangements. RUL will pay fees and/or commission only in respect of such types of Policy. 4.2 RUL will pay to the Intermediary a fee and/or commission in respect of each Policy which it concludes with a Policyholder as a result of an introduction to RUL by the Intermediary in accordance with this Agreement. Such fee and/or commission shall only become payable if: 4.2.1 the Premium has been received by the Intermediary from the customer; and 4.2.2 the Intermediary continues to have authority to act as the Policyholder’s agent and that the Intermediary’s appointment as an agent of RUL is still in force. 4.3 Subject to Sub-clause 12.1, the rate of fees and/or commission applicable to any particular Policy will be that which applies at the inception date of the Policy or when the Policy is concluded, if earlier. The amounts of such fees and/or commission shall be as detailed in Schedule 3. RUL may amend the amounts of fees and/or commission from time to time on the number of days’ notice set out in Schedule 1. 4.4 In the event of a cancellation or adjustment of a Policy resulting in a return by RUL of a proportion of the Premium to the Policyholder, the Intermediary shall refund to RUL the same proportion of its commission. RUL may choose whether this refund shall be made by deduction against future commission payments due to the Intermediary from RUL or remitted to RUL by the Intermediary forthwith on request by RUL. 4.5 Without prejudice to Clause 7, the Intermediary shall repay to RUL any commission received in respect of a Policy placed by the Intermediary with RUL without Authorisation or cancelled in exercise of any statutory right. 4.6 The Intermediary shall pay interest, at RUL’s discretion, in accordance with Clause 24 on any commission to be repaid from the date on which it was notified that such repayment was due until the date it is repaid. 4.7 RUL shall have the right to set off any sums due to it pursuant to this Agreement, whether in respect of Premium or otherwise, against commission due to the Intermediary, regardless of when such commission is or was payable (including, for the avoidance of doubt, any sums payable before this Agreement came into effect and/or under any previous terms of business). 4.8 In the event of fees and/or commission being claimed by both the Intermediary and another party in respect of the same Policy, RUL’s decision as to entitlement to such fees and/or commission shall be final.

Fees and Commission. 4.1 RUL will notify to the Intermediary in writing the types of Policy in relation to which RUL will accept business from the Intermediary. RUL may amend such Policy types from time to time on the number of days’ notice set out in Schedule 1, or on immediate notice if changes are required by RUL for legal reasons or in order to comply with any Regulatory Requirement or for any reason relating to reinsurance arrangements. RUL will pay fees and/or commission only in respect of such types of Policy. 4.2 RUL will pay to the Intermediary a fee and/or commission in respect of each Policy which it concludes with a Policyholder as a result of an introduction to RUL by the Intermediary in accordance with this Agreement. Such fee and/or commission shall only become payable if: 4.2.1 the Premium has been received by the Intermediary from the customer; and 4.2.2 the Intermediary continues to have authority to act as the Policyholder’s agent and that the Intermediary’s appointment as an agent of RUL is still in force. 4.3 Subject to Sub-clause 12.1, the rate of fees and/or commission applicable to any particular Policy will be that which applies at the inception date of the Policy or when the Policy is concluded, if earlier. The amounts of such fees and/or commission shall be as detailed in Schedule 3. RUL may amend the amounts of fees and/or commission from time to time on the number of days’ notice set out in Schedule 1.any 4.4 In the event of a cancellation or adjustment of a Policy resulting in a return by RUL of a proportion of the Premium to the Policyholder, the Intermediary shall refund to RUL the same proportion of its commission. RUL may choose whether this refund shall be made by deduction against future commission payments due to the Intermediary from RUL or remitted to RUL by the Intermediary forthwith on request by RUL. 4.5 Without prejudice to Clause 7, the Intermediary shall repay to RUL any commission received in respect of a Policy placed by the Intermediary with RUL without Authorisation or cancelled in exercise of any statutory right. 4.6 The Intermediary shall pay interest, at RUL’s discretion, in accordance with Clause 24 on any commission to be repaid from the date on which it was notified that such repayment was due until the date it is repaid. 4.7 RUL shall have the right to set off any sums due to it pursuant to this Agreement, whether in respect of Premium or otherwise, against commission due to the Intermediary, regardless of when such commission is or was payable (including, for the avoidance of doubt, any sums payable before this Agreement came into effect and/or under any previous terms of business). 4.8 In the event of fees and/or commission being claimed by both the Intermediary and another party in respect of the same Policy, RUL’s decision as to entitlement to such fees and/or commission shall be final.

Fees and Commission. 4.1 RUL will notify to the Intermediary in writing the types of Policy in relation to which RUL will accept business from the Intermediary. RUL may amend such Policy types from time to time on the number of days’ notice set out in Schedule 1, or on immediate notice if changes are required by RUL for legal reasons or in order to comply with any Regulatory Requirement or for any reason relating to reinsurance arrangements. RUL will pay fees and/or commission only in respect of such types of Policy.changes 4.2 RUL will RULwill pay to the Intermediary a fee and/or commission in respect of each Policy which it concludes with a Policyholder as a result of an introduction to RUL by the Intermediary in accordance with this Agreement. Such fee and/or commission shall only become payable ifpayableif: 4.2.1 the Premium has been received by the Intermediary from the customer; and 4.2.2 the Intermediary continues to have authority to act as the Policyholder’s agent and that the Intermediary’s appointment as an agent of RUL is still in force. 4.3 Subject to Sub-clause 12.1, the rate of fees and/or commission applicable to any particular Policy will be that which applies at the inception date of the Policy or when the Policy is concluded, if earlier. The amounts of such fees and/or commission shall be as detailed in Schedule 3. RUL may amend the amounts of fees and/or commission from time to time on the number of days’ notice set out in Schedule 1.from 4.4 In the event of a cancellation or adjustment of a Policy resulting in a return by RUL of a proportion of the Premium to the Policyholder, the Intermediary shall refund to RUL the same proportion of its commission. RUL may choose whether this refund shall be made by deduction against future commission payments due to the Intermediary from RUL or remitted to RUL by the Intermediary forthwith on request by RUL. 4.5 Without prejudice to Clause 7, the Intermediary shall repay to RUL any commission received in respect of a Policy placed by the Intermediary with RUL without Authorisation or cancelled in exercise of any statutory right. 4.6 The Intermediary shall pay interest, at RULXXX’s discretion, in accordance with Clause 24 on any commission to be repaid from the date on which it was notified that such repayment was due until the date it is repaid. 4.7 RUL shall have the right to set off any sums due to it pursuant to this Agreement, whether in respect of Premium or otherwise, against commission due to the Intermediary, regardless of when such commission is or was payable (including, for the avoidance of doubt, any sums payable before this Agreement came into effect and/or under any previous terms of business)., 4.8 In the event of fees and/or commission being claimed by both the Intermediary and another party in respect of the same Policy, RUL’s decision as to entitlement to such fees and/or commission shall be final.