PTL Terms & Conditions of Business

PTL Governance Limited (“PTL”) is a limited company registered in England and Wales under number 02952373. A list of directors is open to inspection at the registered office.

PTL is the only entity or person contracting with you to provide services. Any advice given or other work done for you by a director, employee or consultant of PTL will be given by that person on behalf of PTL and not in his or her individual capacity and no such person will have personal responsibility to you for that advice or other work. If, as a matter of law, a duty of care would otherwise be owed to you by that individual, it is excluded.

This agreement will not confer any benefit or the right to enforce any term of this agreement on any third party other than the director, employee or consultant of PTL.

PTL is permitted to use suitably qualified personnel of Pitmans LLP, as it deems appropriate and necessary to meet your objectives and outcomes to which this agreement specifically relates. In such circumstances, PTL shall be deemed to have delivered the services and to invoice for the fees incurred by it and Pitmans LLP on its behalf.

Where Pitmans LLP does undertake work on your behalf you may enforce any term of this agreement against PTL or Pitmans LLP provided always that the joint and several liability of PTL and Pitmans LLP in aggregate shall be limited to the amount of any actual loss or damage and subject to all limitations of liability as set out elsewhere in this agreement, and shall be borne as between PTL and Pitmans LLP in proportion to their actual contribution to the work covered by this agreement.

If one or several of the provisions of this agreement are or become invalid, the validity of the remaining provisions will not be affected as a result.

OUR SERVICE

We are committed to maintaining the highest levels of service.

You may request that particular individuals carry out your work and we will accommodate your request wherever possible. We shall inform you of the name and status of the client director and members of our staff who will be engaged on a particular matter for you. From time to time other members of staff may assist.  Some tasks may be carried out by staff who do not hold formal qualifications.

Our standard office hours are 9.00 to 5.30.

We shall agree the scope of our appointment with you, including the frequency of trustee or other meetings.

If you encounter any problems please contact our Complaints Director, David Archer. We are committed to resolving issues quickly in accordance with the firm’s Complaints Procedure, a copy of which is available upon request.

COSTS

In most cases, we will agree a fixed fee with you to cover the core services that we expect to provide. Where we carry out additional work outside of the core services and fees, our fees will be charged on the basis of time spent, unless we agree a fixed or capped fee in advance for the additional work.  You will be notified of the hourly rate (excluding VAT) charged for the director or staff member carrying out your work. The fixed fee for core services and the hourly rates will be revised at intervals, usually annually in line with inflation and you will be notified of any changes.

Where fees are charged on an hourly basis, we reserve the right to vary the rates to reflect discretionary factors such as unusual urgency, complexity, the responsibility involved, and/or out of hours working.

BILLING POLICY

We invoice regularly unless otherwise agreed. Our invoices are payable upon presentation.

We do not accept cash from clients. If clients deposit cash direct with our bank, we reserve the right to charge for any additional checks we deem necessary regarding the source of the funds.

We reserve the right to carry out a credit check from time to time and/or to require payments on account of our fees and disbursements and will always do so where substantial disbursements are to be incurred by PTL on your behalf. In the event that payments on account are not made as requested, or our invoices are not paid upon presentation, we may (on the relevant matter and any other matters on which we are engaged for you):

  • cease work;
  • terminate our retainer and/or
  • charge interest on unpaid invoices at 3% over HSBC Bank plc’s base rate from time to time.

Any complaint including any complaint about any invoice should initially be addressed to our Complaints Director, David Archer .

CONFIDENTIALITY

We are under a professional obligation to keep the affairs of clients confidential. This obligation, however, is subject to certain exceptions.

Recent legislation on money laundering and terrorist financing has placed us under a legal duty in certain circumstances to disclose information to the National Crime Agency. Where we know or suspect that a transaction on behalf of a client involves money laundering, we may be required to make a money laundering disclosure. If this happens, we may not be able to inform you that a disclosure has been made or of the reasons for it.

We may be required to disclose information by virtue of the laws of England or by order of the English Courts or any other Courts of competent jurisdiction, or the Pensions Regulator or other regulatory body.

We may also disclose confidential and legally privileged information to our professional brokers and insurers and to our auditors.

The duty of confidentiality shall not apply if we are authorised to disclose information by the client(s) or we consider such disclosure to be necessary or appropriate in the furtherance of the management of a pension scheme in the interest of the beneficiaries; or the information concerned is already in the public domain other than by reason of any disclosure on our part.

We shall not be required or under duty to disclose any information we may have or be deemed to have about any matter affecting you which we may have acquired in the course of acting for or providing services to any other scheme or company or clients in any way.

If you require us to communicate with you in any particular way in order to maintain confidentiality within your organisation, please inform us.

We may outsource certain services including IT support, our ‘front office’ and ‘back office’ functions, photocopying and word processing to carefully selected service providers, with whom we have agreed confidentiality provisions and undertakings. Your consent to these outsourcings is inferred.

ANTI FINANCIAL CRIME

You may be asked to provide certain documentation and information in verification of your instructions and identity and that of any corporate representative, without which we may be unable to act or to continue acting for you. Additionally, you should be aware that we may carry out Anti Money Laundering database searches from time to time.

LIEN AND RETENTION OF PAPERS

At the conclusion of a matter, we will at your request return to you original documents and any other documents which you wish to retain and will store all papers for a minimum of 6 years, after which they may be destroyed. Trust deeds are retained indefinitely.

Storage of archived files and related documents is outsourced to an offsite provider which operates to nationally recognised standards. However, we will not accept any liability for loss or damage. If you require bank-vault safety standards for your documents, you should make separate arrangements.

All files may be kept fully or partially in electronic form.

Papers will be retrieved from storage at your request, subject to a charge. Where retrieval involves review of files, correspondence or other work, we reserve the right to charge for the time spent.

PROFESSIONAL INDEMNITY INSURANCE

We maintain professional indemnity insurance, details of which may be obtained by contacting the Risk and Compliance Manager at the firm.

EQUALITY AND DIVERSITY

We are committed to promoting equality and diversity in all our dealings with clients, third parties and employees. Please contact us if you would like a copy of our equality and diversity policy.

USE OF E-MAIL

E-mail cannot be guaranteed to be totally secure as messages must pass via external service providers. Unless you request us not to do so, we may use e-mail to communicate with you and third parties.

DATA PROTECTION

We use the information you provide primarily for the provision of services to you and for related purposes including updating and enhancing client records, analysis to help us manage our statutory returns, legal and regulatory compliance.

However, we also aim to provide clients and contacts with periodical updates, seminars and training workshops and may do so through our communications from Pitmans LLP for which purpose we maintain and use clients’ contact data. Details of the type of data we, and Pitmans LLP, maintain can be found in the Privacy Policy on our website at www.PTLuk.com. Please notify us if you do not wish your data to be used for these purposes. In the absence of such notification, your consent to these activities is inferred.

LIMITATION OF LIABILITY

We draw you attention to the limitation of liability provisions contained within our retainer letter (to which these terms apply). We have set a limit on our liability to you in the amount expressly stated. You will also note that there is an express time period provided in the terms of our agreed retainer for making any claim against us.

ENGLISH LAW

These terms of business are governed and construed in accordance with English law and it is hereby agreed to submit any dispute which arises in connection with them to the exclusive jurisdiction of the English courts.

www.PTLuk.com