No she wants the money from me instead of the client. She is not going to try and claim the money back from the client she is only trying to get the money from me. She was paid £10,200 of which she gave me £5100. She is only chasing me because she and I fell out because I left her business before this happened. She has not said she wants to chase the client she only wants me to pay.
She is saying that under my contract with her if any business that I conduct myself and am paid a commission for I am liable in case the policy cancels in the first 4 years. However she is the one that conducted this piece of business and she merely paid me a referral fee. Usually in a situation like this she would have had an introducers agreement in place however she never did this. In my employment contract it does not state about business that is referred to colleagues and the commission that is paid. It only covers business that I personally do myself.
The top part of that is correct in a sense that I was self employed under he umbrella company/brand.
The head agent and us as advisors always get a client to sign a terms of business which states that in the event that the client terminates the insurance policy and the advisor becomes liable to repay the commission that was paid to the advisor, the advisor reserves the right to reclaim that commission from the client to cover the clawback.
I have had nothing to do with this and it was because the head agent fell out with the client that they cancelled the policy which I was not involved in.
Where i referred the business to the head agent I was what is classed as an introducer. In that case we should have had an introducers agreement signed to say that if the head agent cannot reclaim the commission from the client they can then try and claim share back from the introducer for which it was paid.
I do not want to repay because I never agreed that I would. I also do not have the funds to repay this lady.