1. PREAMBLE
These general terms of use (hereinafter referred to as the “Terms”) govern the use of the information and networking service intended for insurance professionals registered with the FSMA registry, operated by ASSURDEAL LTD, located at 22 Mount Ephraim, Tunbridge Wells, Kent, TN4 8AS, United Kingdom, registered under number 09864192, and whose VAT number is GB 281 8881 60 (hereinafter referred to as “Assurdeal”).
More generally, these Terms describe how the Site operates and the rules applicable to any User. (Hereinafter referred to as "Assurdeal").
2. DEFINITIONS
For the purposes of these Terms, the following words and expressions are defined as follows:
"Buyer": An insurance professional registered with the FSMA (Financial Services and Markets Authority) as a User who purchases an Insurance Portfolio after being connected with the Seller via the Services.
"Potential Buyer": An insurance professional registered with the FSMA as a User who wishes to acquire an Insurance Portfolio.
"Application": The User's secure dashboard that provides access to the Services offered by Assurdeal.
"Commission": The fee owed to Assurdeal in exchange for Services that facilitated a Sale.
"Offer": The listing of an Insurance Portfolio for sale by the Seller.
"Assurdeal Secure Payment": The secure payment process via Stripe and TrustAp applications offered by Assurdeal to facilitate or secure a purchase.
"Partner": The partner entities of Assurdeal with which the User may contract directly if they wish.
"Insurance Portfolio": The brokerage or co-brokerage portfolio of insurance policies of any kind, including commission payment commitments from one or more insurers or wholesale brokers to a given broker. The sale is limited to the transfer of contracts and/or receivables without the transfer of a business entity.
"Purchase Proposal": The offer made by a Potential Buyer to purchase an Insurance Portfolio from a Seller via Assurdeal. If the Seller accepts the Purchase Proposal, the Potential Buyer is bound by it and commits to paying the sale amount to the Seller and the Commission to Assurdeal.
"Price": The total value of the consideration offered by the Buyer for the Sale of the Insurance Portfolio, regardless of its cause or any conditions attached, such as terms or suspensive conditions, without applying any discount.
"Services": The services described in Article 4 of these Terms.
"Site": The website www.assurdeal.be, which provides access to the Services offered by Assurdeal.
"User": Any authorized user of the Site, including Sellers, Potential Buyers, or Buyers.
"Seller": An insurance professional registered with the FSMA as a User who offers an Insurance Portfolio for sale via the Services.
"Sale": The final sale of an Insurance Portfolio by a Seller to a Buyer, provided that the sale does not involve the transfer of a business entity.
3. OPERATION OF THE SITE
These Terms define the financial, legal, and technical conditions applicable to Assurdeal's networking Services in connection with the sale of Insurance Portfolios through the Site.
To access the Site, Potential Buyers and Sellers must create an account and provide the required information, including:
- FSMA number
- Company number
- Mobile phone number
- Email address
Failure to provide all required information will prevent registration on the Site.
Assurdeal systematically verifies the FSMA number, email, mobile phone number, and the User's identity.
Assurdeal also conducts anti-money laundering (AML) and regulatory compliance checks for each office and User via its partner, Ondorse.
If inaccurate or exclusionary information is provided, registration on the Site will not be validated.
Users will have access to a secure area called the "Application," where they can view their search history, update their information, perform simulations, find new partners, access the Insurance Portfolio buying/selling platform, and use various free or paid professional tools and services.
Users must keep their account information up to date.
Assurdeal reserves the right to suspend or close a User’s Assurdeal account at its discretion if the User's email address becomes invalid, if they fail to provide all required information, submit false or inaccurate information, or violate these Terms. This action will follow an unheeded reminder from Assurdeal within the required timeframe.
Users removed from the FSMA registry can access their accounts for historical or proof purposes for up to one (1) year after removal but will not have access to Services, except for viewing historical data, invoices, and contractual documentation. After this one-year period, the User's account will be deleted, and they will no longer have access to the Services, including the Application.
Data related to the User's activity (transaction history, simulations, invoices, etc.) will be retained and archived by Assurdeal in accordance with its Privacy Policy and applicable legal retention periods.
Users may exercise their rights, including access rights, under the conditions set out in Article 11 of these Terms.
Each User’s account on the Site is personal, and they must keep their login credentials strictly confidential. They must report any unauthorized or fraudulent use of their account to Assurdeal.
Assurdeal is not responsible for account usage by a third party with the User’s credentials or for any data breaches beyond its control.
4. DESCRIPTION OF SERVICES
The Services offered by Assurdeal consist of multiple steps and include:
4.1. Services Offered to the Seller
- Scheduling a phone or video conference appointment with Assurdeal to define the scope of the Seller's project.
- Portfolio evaluation by Assurdeal based on the provided documentation.
- Drafting an anonymous memorandum summarizing the evaluated Insurance Portfolio.
- Identifying Potential Buyers interested in making a Purchase Proposal through Assurdeal’s matchmaking algorithm and negotiation expertise.
- Anonymous and moderated exchanges with Potential Buyers via a chat-forum tool in the Application.
- Introduction of interested Potential Buyers to the Seller for Sale negotiations.
4.2. Services Offered to the Potential Buyer
- Identifying Sellers offering Insurance Portfolios matching the Potential Buyer’s criteria.
- Introducing the Potential Buyer anonymously to relevant Sellers based on objective criteria.
- Providing a TrustAp escrow account where the transaction amount is deposited before the transfer agreement is executed.
4.3. Services for All Users
- Access to industry news and relevant information sources.
- Access to partner tools for evaluating their Insurance Portfolio or conducting a Sale.
- Access to financial calculators for estimating transaction costs, pricing, and investments.
- Facilitating contract signing through an electronic signature tool.
- Secure payment system via a third-party tool.
The Seller and Buyer acknowledge that documents and tools provided for completing the Sale are optional. They remain solely responsible for their content, validity, and compliance with legal and tax formalities, including professional legal review.
5. FINANCIAL TERMS
5.1. Commission Fees
For every Sale completed through Assurdeal, the Buyer owes a Commission based on the Sale Price:
| Condition | Fee Rate |
|---|---|
| Regular User | 15% (excl. VAT) |
| VIP User | 13.5% (excl. VAT) |
5.2. Payment Terms
- The Commission is due upon signing the transfer documents.
- Payment must be made via bank transfer to Assurdeal.
- Late payments will incur interest and a recovery fee.
6. USER OBLIGATIONS
Users must use the Services legally and provide accurate and updated information.
7. LIABILITY
Assurdeal is committed to providing Services professionally but does not guarantee error-free operation.
8. INTELLECTUAL PROPERTY
The Site and Services are protected under intellectual property law.
The User is prohibited from reproducing, distributing, or exploiting any part of the Site and Services without Assurdeal’s written authorization.
9. PERSONAL DATA
Assurdeal is committed to complying with Belgian legislation on personal data protection.
The personal data collected by Assurdeal is used solely for the provision of the Services.
The User has the right to access, rectify, and delete their personal data.
10. FORCE MAJEURE
Assurdeal cannot be held responsible for the non-performance of its obligations in the event of force majeure.
11. COMPLAINTS
Any complaint related to the Services must be submitted to Assurdeal in writing.
Assurdeal commits to handling complaints as quickly as possible.
12. APPLICABLE LAW AND JURISDICTION
These General Terms are governed by Belgian law.
Any dispute related to these General Terms shall be subject to the exclusive jurisdiction of the courts of Bruxelles.
13. MODIFICATION OF THE GENERAL TERMS
Assurdeal reserves the right to modify these General Terms at any time.
Users will be informed of any changes through appropriate means.
14. EFFECTIVE DATE
These General Terms come into effect on the date of their publication on the Site.
15. MISCELLANEOUS PROVISIONS
If one or more provisions of these General Terms are deemed invalid or declared as such under a law, regulation, or final decision of a competent court, the remaining provisions shall retain their full force and effect.
These General Terms constitute the entire agreement between Assurdeal and the User.
16. MEDIATION
In the event of a dispute, the User has the option to seek mediation from an accredited consumer mediator in Belgium. The mediator’s contact details will be provided to the User upon request.