KEY TERMS SUMMARY – COMMERCIAL AGREEMENT (FREE LEADS)
This Key Terms Summary is provided for ease of reference only. The full legally binding terms are set out in the ‘Schedule 1 Full Commercial Agreement’
Parties
1. Guru Advisory Services Ltd (company number 14655582), trading as Advice Guru
2. [Second Party Name], [company number if applicable].
Purpose
- Advice Guru provides free consumer leads generated by a professional online lead generation marketing company.
- Leads are from consumers enquiring about later life borrowing via the Advice Guru website and Learning Zone.
Obligations of the firm
- Track each case and provide high-quality client service.
- All applications must use AIR Sourcing / AIR Portal and Equilaw for conveyancing (for case tracking and completion).
- Provide regular updates on each lead’s status.
Fees and payment
- 40% of advice and procuration fees to the Firm.
- 60% split equally between Advice Guru (30%) and the lead generation firm (30%).
- Key Protections:
- Leads remain the property of Advice Guru and may not be shared or sold.
- Confidentiality: Agreement contents must not be shared with third parties.
- GDPR compliance required for all client data.
- Non-circumvention: Firm must not bypass Advice Guru by working directly with partners or providers.
- Service standards: FCA compliance required; failure may lead to suspension of leads.
- Limitation of liability: Advice Guru not liable for indirect losses; liability capped at fees received.
- No guarantee of lead volume or conversions.
Term and termination
- Ongoing until terminated by either party with 28 days’ written notice.
- Governing Law:
- England and Wales; exclusive jurisdiction of English courts.