<strong>ENDOWMENT POLICY PURCHASE TERMS OF BUSINESS<br />
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  Regulator's  Statement : Leonard Simmonds Associates Limited (&quot;LSA&quot;) is independent  of any life assurance company and can arrange the sale or purchase of  endowment policies issued by any suitable company. We offer an  execution-only service that means that we do not provide advice as to  the merit of any sale or purchase. If you require any advice regarding  the sale of the policy or policies you must contact an Independent  Financial Adviser. We are authorised and regulated by the Financial  Services Authority and are bound by its rules.</strong>
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    <div align="left">LSA does not handle clients&rsquo; money.  LSA never accepts a cheque made out to it nor handles cash.<br />
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    <div align="left">LSA  acts as agent for its associated companies and other parties (&ldquo;the  Purchaser&rdquo;) for the purchase and/or sale of appropriate forms of  investment.<br />
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    <div align="left">Any and all taxes and/or duties payable in respect of this transaction are the sole responsibility of the Seller.<br />
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    <div align="left">By  entering into this agreement the Seller agrees to execute irrevocably  all deeds and documents that may be required to complete the transfer  of title of the policy or policies to the Purchaser or any nominee. Any  contract for purchase of a policy is subject to LSA's solicitors  obtaining prior verification of all details that may be required and  subject to the production of all documents of title including notices,  charges, prior release, previous assignments and completion of the  assignment in the form required by the Buyer.<br />
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  <li>The  Seller shall at all times provide such information in relation to the  policy or policies as required by LSA to purchase the policy or  policies within a time scale reasonably specified by LSA.<br />
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  <li>The  Seller or their appointed agent may inspect contract notes, vouchers  and entries in LSA books of accounts (whether kept manually or  electronically) which relate solely to the Seller's transaction and LSA  will on receipt of the Seller's written request supply copies at the  cost of the Seller. LSA keeps records of business transactions for a  period of six years from completion of the transaction but does not  review or advise with regard to the investments made.<br />
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  <li>In  the event that the gross premium is higher than set out overleaf LSA  shall be entitled to make a deduction from the purchase price in  respect of the total additional premiums payable until maturity of the  policy.<br />
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  <li>In the event that there are  premiums unpaid by the Seller prior to completion LSA will deduct such  premiums from the purchase price.<br />
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  <li>At its absolute discretion LSA may withdraw the offer at any time prior       to completion in the event that one or more of the following circumstances       apply:-<br />
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    <div align="left"> 9.1 &nbsp; if any premiums are not paid by the Seller up to the         date specified overleaf;<br />
      9.2 &nbsp; if the policy has been altered in any way at any time since its start         date;<br />
      9.3 &nbsp; if the current bonus rates payable by the issuing life office either         annually or at the maturity of the policy quoted by the issuing life office         are altered prior to completion;<br />
      9.4 &nbsp; if the policy was originally written by a life office which is subsequently         taken over and the offer overleaf has been prepared in the name of the incorrect         company;<br />
      9.5 &nbsp; if the policy is categorised as being of any of the following types:         Unitised, unit-linked, clustered, flexi/flexi endowments or similar, the policy is         written under trust, Friends Provident Table 72 Multi endowment policies,         Table 37 Flexible Saving Plan, Legal and General E Plan or Additional Mortgage         Plan, Industrial Branch, Prudential Plan 100, Guardian compound bonus series,         Pearl Homebuilder, Home buyers, Windsor Life (Gresham), or home and savings         plan;<br />
      9.6 &nbsp; if a material error has been made by LSA in calculating the purchase         price;<br />
      9.7 &nbsp; if a clerical error has been made by LSA in relation to the purchase         price;<br />
      9.8 &nbsp; if any of the information concerning the policy provided by the Seller         is incorrect;<br />
      9.9 &nbsp; if the Seller is bankrupt or does not hold a full unencumbered title         to the policy for any reason whatsoever;<br />
      9.10 &nbsp; if the Seller fails to comply with the contractual obligation to provide         such information in relation to the policy which LSA reasonably requires         to effect the purchase and shall be liable to LSA in respect of any losses         it may suffer, as set out in clause 13 below;<br />
      9.11 &nbsp; if the surrender value drops below the amount stated on the initial contract.
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        Alternatively in the event that one or more of the circumstances set out           above apply LSA may alter the offer to be accepted by the Seller in writing. <br />
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  <li>LSA will hold information about the Seller on computer and/or in paper files       pursuant to the provisions of the Data Protection Act 1998. The information       held will be used to administer this transaction, deal with queries and may       be disclosed to third parties and to the Financial Services Authority. Should       you require access to the information we hold about you, this will be provided       within 40 days of request, subject to payment of a &pound;10 charge and proof       of identity. You may challenge the data and request we amend or delete any information       we hold on you. <br />
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  <li>In  the event of any dissatisfaction with our services, sellers are  entitled to complain. Complaints which are not resolved by LSA should  be addressed to The Complaints Manager, Leonard Simmonds Associates  Limited, LSA House, Chequers Close, Malvern, Worcestershire, WR14  1GP, who will explain our complaints procedure. Failing internal  resolution, complaints by private clients may be referred to the  Financial Ombudsman Service.<br />
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  <li>This document must be signed overleaf and returned, confirming acceptance       of these Terms of Business. By signing these Terms of Business you are entering       into a legally binding contract and must sell the policy in accordance with       the terms of this agreement as directed by LSA. You will be responsible for       any losses of any nature whatsoever sustained by LSA resulting from your breach       of this agreement.<br />
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  <li><strong>This contract will be governed by and construed in accordance with English       law and all parties submit to the exclusive jurisdiction of the Courts of       England and Wales.</strong></li>
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