Financial Services Provider Clause Samples
The Financial Services Provider clause defines the role, responsibilities, and obligations of a party that delivers financial services under the agreement. Typically, this clause outlines the scope of services provided, such as payment processing, investment management, or advisory functions, and may specify compliance requirements with relevant financial regulations. Its core practical function is to clearly identify the provider's duties and ensure both parties understand the standards and expectations for the delivery of financial services, thereby reducing the risk of misunderstandings or regulatory breaches.
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Financial Services Provider. 6.1. Where the Introducer is a FSP:
6.1.1. The Company may in its sole discretion refuse to accept business from any one or more of its Representatives;
6.1.2. The Introducer shall immediately notify the Company in writing when a relationship between itself and a Representative is terminated or if a Representative is debarred in terms of FAIS;
6.1.3. The Introducer shall not allow a Representative to render financial services to a Client in respect of the Services rendered by the Company to the Client;
6.1.4. The Introducer will ensure that the provisions of FAIS are complied with so as to avoid a conflict of interests between the Introducer and the Clients;
6.1.5. The Introducer shall inform the Company in writing as soon as reasonably possible:
6.1.5.1. of the suspension, lapsing or withdrawal of its license in terms of FAIS or if any conditions and/or restrictions imposed on the Introducer's license in terms of section 8(4) of FAIS are withdrawn or amended in terms of section 8(5) of FAIS;
6.1.5.2. of any notification received from the Financial Sector Conduct Authority of its intention to suspend or withdraw its license or amend any conditions and/or restrictions applicable thereto or investigate any of the aforegoing.
Financial Services Provider. CIRM may engage the services of external financial services providers to perform specified functions related to the evaluation and administration of loans. Unless otherwise provided in an RFA, the Loan Recipient shall be required to cover certain or all costs incurred on CIRM’s behalf by the Financial Services Provider.
II. LOAN APPLICATION AND REVIEW PROCESS A. Eligibility
1. PI and PD Eligibility
Financial Services Provider. An entity that offers the Investment Portfolio or a mutual fund that offers or holds the Covered Fund(s). GLWB Elector – A Certificate Owner who is: (i) eligible to elect the GLWB; (ii) invested in Covered Fund(s) pursuant to the Covered Fund prospectus; and (iii) a Covered Person. Great-West – Great-West Life & Annuity Insurance Company, located at the Administrative Offices. Group Contract – This written agreement between the Group Contractholder and Great-West.
Financial Services Provider. Where the Introducer is a FSP: The Company may in its sole discretion refuse to accept business from any one or more of its Representatives; The Introducer shall immediately notify the Company in writing when a relationship between itself and a Representative is terminated or if a Representative is debarred in terms of FAIS; The Introducer shall not allow a Representative to render financial services to a Client in respect of the Services rendered by the Company to the Client; The Introducer will ensure that the provisions of FAIS are complied with so as to avoid a conflict of interests between the Introducer and the Clients; The Introducer shall inform the Company in writing as soon as reasonably possible: of the suspension, lapsing or withdrawal of its licence in terms of FAIS or if any conditions and/or restrictions imposed on the Introducer's license in terms of section 8(4) of FAIS are withdrawn or amended in terms of section 8(5) of FAIS; of any notification received from the Financial Services Board of its intention to suspend or withdraw its licence or amend any conditions and/or restrictions applicable thereto or investigate any of the aforegoing.
Financial Services Provider. This cover has been arranged for ProfNet Medical members by CFP Brokers cc (FSP No. FSP 42892) through ITOO Special Risks (Pty) Ltd (FSP No. 47230) and is underwritten by The Hollard Insurance Company Ltd. CFP, ITOO and Hollard are authorized Financial Service Providers. All necessary disclosure and explanatory documentation are available on our website: ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇ Abbreviated name as registered with the bank: ProfNet