Customer Commission Consent Requirements
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An update from our Chief Sales Officer, Alex Royall, regarding commission consent
A guide to commission disclosure
Customer commission consent statements for our partners
FAQs – customer commission consent
We are processing these in accordance with our agreed processes that applied prior to the 29 October. Anything that has been declined before the 29 October will follow the original process.
The proposal will need to be re-quoted on the new products and will receive the new APR & commission. There will be no exceptions to this.
No, you just need to re-submit with the correct information that was advised in the decline note from the Payout team. The Payout team will then work the proposal as normal.
The consent statement should be printed, and ink signed in the first instance. In cases where this is not possible, we will accept an Adobe/PDF signature as an exception. We recommend you retain a copy of the email from the customer with their signed consent.
Anything to be delivered after 29 October will need to be re-quoted on the new APR’s & Commissions.
Please follow the normal process which is to select the RV available from FAMOS. Or you can complete “FAMOS Amendments” QuestBack form and submit to Sales Support in the normal way. Sales Support are here to help if you need any assistance with this.
Please follow the normal process which is to take the proposal back to quotation where you will be able to edit the information. If the customer data is updated, please be aware that this will trigger another customer credit search. Please remember the proposal will need to be quoted on the new APR & commission products.
If the quotation does not include the current commission and APR, then the quotation needs to be re-quoted and the customer needs to sign the new documentation. To do this please select the correct product in FAMOS and quote following the normal quotation process. The Sales Support is here to support you should you need any assistance.
These have all been worked by the Underwriting team in the normal way, however will need to be requoted on the relevant new product & APR.
Yes they will in the first instance. However, we will follow our standard process and promptly get this removed for the customer.
Yes, as these must be on the new products with the required explicit consent.
No, only the customer is required to sign the Customer Commission Consent form. The Guarantor can be copied in for viewing purposes only.
Yes, both Partners are required to sign the CCC.
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