Related provisions for MCOB 7.3.2
1 - 20 of 45 items.
Price information should be given in writing or another durable medium in good time before conclusion of the contract. This is in addition to any requirement or decision to provide the information orally. In the case of a distance contract concluded over the telephone, it may be provided in writing or another durable medium no later than immediately after conclusion.
(1) Throughout the term of a policy, a firm must provide a customer with information about any change to:(a) the premium, unless the change conforms to a previously disclosed formula; and(b) any term of the policy, together with an explanation of any implications of the change where necessary.(2) This information must be provided in writing or another durable medium in good time before the change takes effect or, if the change is at the customer's request, as soon as is practicable
(1) When explaining the implications of a change, a firm should explain any changes to the benefits and significant or unusual exclusions arising from the change.(2) Firms will need to consider whether mid-term changes are compatible with the original policy, in particular whether it reserves the right to vary premiums, charges or other terms. Firms also need to ensure that any terms which reserve the right to make variations are not themselves unfair under the Unfair Terms R
If a customer falls into arrears on a regulated mortgage contract, a firm must as soon as possible, and in any event within 15 business days of becoming aware of that fact, provide the customer with the following in a durable medium:(1) the current Money Advice Service information sheet “Problems paying your mortgage”;33(2) a list of the due payments either missed or only paid in part;(3) the total sum of the payment shortfall;(4) the charges incurred as a result of the payment
(1) A firm may provide the information in MCOB 13.4.1 R (2), (3), (4), (5) and (6) orally, for example by telephone, but must provide the information in a durable medium with a copy of the Money Advice Service3 information sheet “Problems3 paying your mortgage” 23within 15 business days of becoming aware of the customer's account falling into arrears.23(2) Where a firm provides the information in MCOB 13.4.1 R when a payment shortfall occurs but before the customer's account
A firm must (except where the contract is a credit agreement to which the disclosure regulations apply) provide sufficient information, on a durable medium, when the customer first enquires about the firm's services, about the following matters to enable the customer to make a reasonable decision:(1) the nature of the firm's service offered in the contract to the customer; [Note: paragraph 3.38b of DMG](2) the duration of the contract; [Note: paragraph 3.38c of DMG](3) the total
For telephone or face-to-face transactions, interaction between the customer and the firm's representative is also important. It should be made clear to the customer that the customer can ask questions or request further information or explanation and, for example, the representative solely providing the customer with a written explanation of an agreement, or relying solely on a written script in relation to an agreement, is unlikely to comply with the requirement in CONC 4.2.5
(1) 1If a firm offers to enter into a home purchase plan with a customer, it must ensure that the customer is, or has been provided with an appropriate offer document in a durable medium which includes:(a) the period for which the offer is valid;(b) an explanation of the consequences that might arise from the customer not entering into the home purchase plan including details of any fees that the customer has paid which will not be refunded;(c) an explanation of when the customer
(1) A firm must communicate to a consumer2 the distance marketing information in a durable medium available and accessible to the consumer2 in good time before the consumer2 is bound by any distance contract or offer to enter into a home purchase plan.222(2) If the distance contract or offer has been concluded at the consumer's2 request using a means of distance communication2 which does not enable providing the information in accordance with (1) then it must be communicated no
A firm must ensure that, as soon as possible after the sale of a repossessed property, if the proceeds of sale are less than the amount due under the regulated mortgage contract or home purchase plan1, the customer is informed in a durable medium of:1(1) the sale shortfall; and(2) where relevant, the fact that the sale shortfall1may be pursued by another company (for example, a mortgage indemnity insurer).1
A firm must ensure that, on the sale of a repossessed property, if the proceeds of sale are more than the amount due under the regulated mortgage contract or home purchase plan1, reasonable steps are taken, as soon as possible after the sale, to inform the customer in a durable medium of the surplus and, subject to the rights of any subsequent mortgage or charge holders, to pay it to him.1
(1) As soon as a SRB agreement provider agrees the key terms of a proposed regulated sale and rent back agreement with a SRB agreement seller and before he becomes contractually committed to enter into the agreement, the SRB agreement provider must provide the seller with a written pre-offer document summarising its key terms (Stage One).(2) The written pre-offer document must be in the form prescribed by MCOB 6 Annex 2 R and must be adapted by the firm, as appropriate, to the
As soon as a SRB agreement provider has provided the written pre-offer document at Stage One to a SRB agreement seller who is in arrears under his regulated mortgage contract or home purchase plan on the property to which the proposed regulated sale and rent back agreement relates, it must, in a durable medium, immediately notify the mortgage lender, home purchase provider or the providers of other loans that may be secured on the property:(1) explaining that the firm is proposing
(1) A firm must provide a consumer with information on the right to cancel a policy.(2) The information to be provided on the right to cancel is:(a) its existence;(b) its duration;(c) the conditions for exercising it;(d) information on the amount which the consumer may be required to pay if he exercises it;(e) the consequences of not exercising it; and(f) the practical instructions for exercising it.(3) The information must be provided in good time before conclusion of the contract
(1) If a firm has carried out an order in the course of its designated investment business on behalf of a client, it must:(a) promptly provide the client, in a durable medium, with the essential information concerning the execution of the order;(b) in the case of a retail client, send the client a notice in a durable medium confirming the execution of the order and such of the trade confirmation information (COBS 16 Annex 1R) 2as is applicable: (i) as soon as possible and no later
(1) All information to be provided to a customer in accordance with this chapter must be communicated:(a) on paper or on any other durable medium available and accessible to the customer;(b) in a clear and accurate manner, comprehensible to the customer; and(c) in an official language of the State of the commitment or in any other language agreed by the parties.(2) The information may be provided orally where the customer requests it, or where immediate cover is necessary. (3)