Butcher Robinson and Staples International Ltd – Terms of Business Retail AX2-TOBR-04

Terms and Conditions of Business Butcher Robinson & Staples

For Consumer Customers International Ltd These Terms and Conditions represent a formal understanding of the basis upon which insurance is placed between the

Consumer Customer & Butcher Robinson & Staples International Ltd (BRASIL)

Regulation

Butcher Robinson & Staples International Ltd of Collegiate House, 9 St Thomas Street, London SE1 9RY is authorised

and regulated by the Financial Services Authority, (FSA)

Our FSA reference number is 310478. Our permission by the FSA is for advising and arranging

general insurance contracts.

You can check what this means and our entry on the FSA

register by visiting the FSA web site www.fsa.gov.uk/register

or by contacting the FSA directly on 0845 606 1234

We maintain Professional Indemnity Insurance to a level which is deemed appropriate by the FSA.

Client Money (general)

The FSA rules are designed to protect you in the event that

an insurance intermediary fails or is unable to transfer:

any premium money it has received from you to the insurer; or

any claims or return premium monies that it has received from the insurer to you.

We are governed by strict rules pertaining to client money,

set down by the FSA. Where we hold monies in a client bank account we may earn interest on monies held, which will be

retained by us.

Client Money (as an agent of an insurer)

In some cases we act as agents for the insurer for the

collection of premiums and payment of claims and refunds of premiums. This means that premiums are treated as being

received by the insurer when received in our bank account

and that any claims money or premium refund is treated as received by you when it is actually paid over to you. There

are occasions where such transactions are restricted and we

will tell you if this is the case.

Client Money (non-statutory trust)

In accordance with the FSA rules on holding client money, for new and renewal business after 14th January 2005 we will

hold client money separate from our own money with an approved bank segregated in a client bank account designated

as subject to a non-statutory trust. Under a non-statutory trust

we are entitled to use client money to make advances of credit. We act as trustees of our clients’ monies and must

meet certain legal and regulatory conditions.

These rules are designed to protect you however, we are

required to have your informed consent to us holding

your money in this manner and you must advise us

immediately if you do not agree. Should you make no

objection and continue to do business with us we shall

assume that you have agreed.

Payment to third parties

We may transfer client money to another person, such as another broker or settlement agent, for the purpose of

effecting a transaction on your behalf through that person.

We do however still remain responsible to you in respect of

your money.

This may include brokers or settlement agents outside of the

UK. The legal and regulatory regime applying to a broker or settlement agent outside the UK may be different from that of

the UK and in the event of a failure of the broker or

settlement agent, this money may be treated in a different

manner from that which would apply if the money were held by a broker or settlement agent in the UK. You may notify us

if you do not wish you money to be passed to a particular

person in a particular jurisdiction.

Ownership

The company is a wholly owned subsidiary of Butcher

Robinson & Staples Holdings Limited

2 of our Directors currently hold more than 10% of Company

shares, they are S M Brown 15.25 % and

R D Symonds 19.55%

Products

We are an Accredited Lloyd’s Broker and a general insurance

intermediary specialising in Travel and Personal Accident insurance, Financial institutions insurance, Marine Cargo,

Construction risks, International property and casualty

insurances A fuller list of our products and the relevant account handlers

for them is available on our website www.brasil.co.uk

We have negotiated certain specific facilities for certain insurances but also place business with other insurers should

we consider that such options would better suit your

requirements. We will give you details of these insurers when we discuss your individual requirements. Travel and

Household Insurances are normally placed on single facilities

held by us.

Disclosure of Information

In order to enable us to obtain valid insurance on your behalf, it is your obligation to provide us with sufficiently detailed,

accurate and complete information to enable us to make full

disclosure to the prospective Insurers of all circumstances which are material to the proposed insurance. A "material

circumstance” in this context is a fact, which might influence

the Insurers either whether to underwrite the risk at all or the terms (including premium) upon which they are prepared to

underwrite the risk. If full disclosure of material

circumstances is not made to Insurers, they may be entitled not only to decline any subsequent claim, but also to avoid

the policy with effect from inception, enabling them to

recover any claims, which have already been paid. If you have any doubt as to whether something is material, you

should discuss it with us.

All answers or statements given on a Proposal Form, Claim Form, or other material document are your responsibility and

you should always check the accuracy of the information

which you provide to us. If there are other material circumstances (as defined above) which you think should be

made known to prospective Insurers, but which have not been asked about on the Proposal Form, you should still

advise such circumstances so consideration may be given to

them. Failure to do so may still give insurers the right to decline any subsequent claim, or avoid the Policy with effect

from inception even though the insurers may not have raised

questions about them on the Proposal Form. This duty of disclosure arises not only when the insurance is

first taken out, but also on each subsequent renewal or

amendment of it. It is, accordingly, your obligation to advise us on these occasions of any material change of

Butcher Robinson and Staples International Ltd – Terms of Business Retail AX2-TOBR-04

circumstances since inception or the last renewal or amendment of the policy.

Quotations

When giving you a quotation, we will have taken due care to

ensure its accuracy and, at the time of presenting it to you,

we will have the reasonable belief that we can place the insurance at the quoted terms. However, there is no binding

commitment on the part of the quoting Insurers to write the

risk on those terms at that stage, and we cannot, therefore, be held responsible if, for whatever reason, the quoting Insurers

decide to withdraw the quotation prior to our taking it up on

your behalf.

Information about the Proposed Insurance

We provide you with details of the key features, terms, scope and effect of the proposed insurance including the essential

cover and benefits, any significant or unusual restrictions,

exclusions, conditions, warranties or obligations and the period of the cover:

We are not qualified to advise you on legal interpretation of

the policy, and if you are uncertain as to the legal effect or meaning of any of the terms of the insurance or the

consequences of the breach of any of them you must take

advice. We may also seek an interpretation from the insurer should you so request.

Placement of the Insurance

We will take all reasonable steps to review the financial

security, service standards and stability of all Insurers

recommended for use on the insurances, but we do not guarantee the continuing financial viability and solvency of

any of the Insurers with whom the risk is placed.

Where we consider it to be appropriate, we may request another more localised or specialist insurance broker or

intermediary to act as our sub-agent to assist us in the placing

of the insurance.

The broker acts for the party seeking insurance. Where a

broker is authorised in addition to provide a service for, or bind risks on behalf of, an insurer the concurrent duties are as

contained in and limited to the specific role, terms conditions

and limitations contained within Terms of Business Arrangements, Coverholders, Subscription or Agency

Agreements between broker and insurer and which,

notwithstanding, shall not conflict with the primary duty to the insured.

We have an obligation to advise you in a circumstances

where a conflict of duty may arise.

Payment of Premium

In order for us to meet the premium payment terms of Insurers, premiums and any duties or fees must be settled to

us by the payment date(s) specified. In certain

circumstances, Insurers will stipulate special premium payment terms or warranties which, if not met, will give

Insurers the right to cancel the insurance contract with effect

from inception. We will advise you when these circumstances arise. It must be your responsibility to make

appropriate arrangements to ensure that funds are paid in

sufficient time to comply with our payment requirements. For the avoidance of doubt we have no obligation to fund any

premiums, duties, fees etc on your behalf; and have no

responsibility for any loss which you may suffer as a result of Insurers cancelling the policy or taking any other prejudicial

steps as a result of the late payment of such premiums, duties,

fees etc if such delay is substantially attributable to you.

Our Remuneration

Our remuneration will be fully disclosed to you upon request.

We will normally be remunerated for arranging the insurance

in the form of commission or brokerage paid to us by the Insurers underwriting the insurance.

Should we charge you any fee or additional sum for our

services we will advise you of this in writing prior to you incurring liability for it.

In addition to such brokerage or commission, we may also be entitled to benefit from:-

earnings where certain Insurers pay us additional commission

on the profitability of a block or class of business we produce

to them and which is not referable to any specific customer

(sometimes referred to as Profit Commission); and earnings

which we are able to generate through management of cash balances held on behalf of Insurers and clients which are not

referable to any specific customer.

Confidentiality

Any information obtained from you by us will not be used or

disclosed except in the normal course of negotiating, maintaining or renewing insurance for you, unless we have

your consent to do otherwise, or disclosure is made by us

pursuant to regulatory and/or legal obligations which we have to disclose the Information.

Complaints

It is always our intention to provide a first class standard of

service. However, if you wish to make a complaint about the

standard of service you receive, we have a formal complaints procedure and in the first instance you should contact us as

follows:

In writing to S M Brown Esq

Chairman Butcher Robinson & Staples International Ltd

Collegiate House

9 St Thomas Street London SE1 9RY

By Telephone 020 7397 5000

By Facsimile 020 7407 1076

In line with our complaints procedure we will log your complaint and acknowledge in writing to you within 5

working days of receipt. If our investigations take longer we

will provide a full response within 20 working days or explain out position and provide timescales for a full

response. If we cannot satisfy your complaint you are entitled

to refer it to the Financial Ombudsman Service details of which are on their website www.financial-

ombudsman.org.uk or by telephone on 0845 080 1800

Financial Services Compensation Scheme (FSCS)

We are covered by the FSCS. You may be entitled to compensation from the scheme if we are unable to meet our

obligations. This depends on the type of business and the

circumstances of the claim. Insurance advising and arranging is covered 100% of the first

£2000, 90% of the remainder and 100% for compulsory

classes of insurance. Further details about this scheme are available from the FSA,

Documentation

Documents in our possession which record the contract of

insurance which you have asked us to place (principally the

slip and any policy wording) are, as a matter of law, your documents and we will pass them to any other broker in

accordance with your instructions should you choose to

terminate our appointment, subject to all monies due to us having been paid. For the avoidance of doubt, the ownership

of working documents which we create in order to carry out

your instructions remain our property, and hence will not be transferred in the event of any change of broker

Governing Law and Jurisdiction

As our services will be performed substantially in London,

these Terms and Conditions shall be construed in accordance

with the Law of England and any disputes between us shall be submitted to the exclusive jurisdiction of the Commercial

Court in London.