In addition to the definitions set out in the Lender Terms and/or Service Order, the following definitions apply in these Mortgage Packager Supplemental Terms:

1. Definitions

Launch Date means the date on which the Customer intends a Product to be made available to Registered Users on Mortgage Sourcing Solutions.

Procuration Fee means, in respect of a Product, either (i) the gross procuration fee paid to individual mortgage brokers, mortgage broker firms, networks or parent distribution firms by the Customer or the Mortgage Lender; or (ii) the net procuration fees paid to individual mortgage brokers by the mortgage broker firms, the Customer, networks or parent distribution firms, as applicable.

PDE Email means pde@iress.com.

2. Placing Products on the Mortgage Sourcing Solutions 

2.1 The Customer shall provide Iress with the Product Instructions for each Product no less than 4 Business Days before the intended Launch Date.  In the event that the Product Instructions are provided after midday on a Business Day, the 4-Business Day timeframe will begin at 9am on the next Business Day.

2.2 Iress agrees to place the Products on the Mortgage Sourcing Solutions in accordance with the Product Instructions. The Customer acknowledges and agrees that any delay or failure to provide the Product Instructions may delay the placement of Products on the Mortgage Sourcing Solutions and/or the accuracy of the Products placed on the Mortgage Sourcing Solutions.  Iress will not be liable for any such delay or any inaccuracy resulting from Customer’s delay or failure in providing the Product Instructions .

2.3 Products will be displayed on Mortgage Sourcing Solutions and data feeds provided by Iress. 

2.4 In the event that the Customer wishes Products to be available on the Mortgage Sourcing Solutions only to a restricted audience, or on a limited distribution basis, full details in writing must be provided to Iress before the Launch Date. Iress shall not be liable for any delay or any inaccuracy resulting from the delay or failure to provide the details of any such restricted distribution. In the event that the Mortgage Lender provides such instruction, Iress shall only make such Product available once it has received confirmation from the Customer. 

2.5 The number of Products placed on the Mortgage Sourcing Solutions by Iress will be determined by how Iress lists individual Products, their variable features, and criteria to enable appropriate product display on the Mortgage Sourcing Solutions, and will be agreed by Iress and the Mortgage Lender only (for the purposes of clarity, this will not be subject to agreement with the Customer). 

2.6 The Customer warrants that it has the authority of any and all relevant Mortgage Lenders in relation to the Services set out in this Service Order. The Customer will retain records evidencing such authority during the term of this Service Order and for a period of 12 months following its termination (“Authority Confirmation”).

2.7 The Customer will promptly provide Authority Confirmation to Iress upon request and Iress reserves the right (without liability) to postpone, refuse or withdraw the display of any relevant Products where Authority Confirmation is not provided following such request.

3. Verification of the Products

The Customer acknowledges that the Mortgage Lender shall carry out any product verification in respect of the Products and that Iress shall have no obligations in this respect to the Customer.

4. Amendments to a Product

The Customer shall notify Iress via the PDE Email in the event that it becomes aware of an error in a Product or a change to the Procuration Fee relating to a Product, providing full details of such error/change in the Procuration Fee. The Customer acknowledges that Iress shall not be obligated to make any other amendments to the Products at the request of the Customer.

5. Removal of a Product

5.1 The Customer shall notify Iress via the PDE Email when it wishes to remove a Product from any or all of the Mortgage Sourcing Solutions.  The removal of the Product will be processed:

5.1.1 if the notice is received by Iress before 3pm on a Business Day, on that Business Day; and

5.1.2 if the notice is received on a non-Business Day, or after 3pm on a Business Day, on the next 

Business Day. 

5.2 The Customer shall provide full details of the Product to be removed in the notice provided under paragraph 5.1, above.

5.3 Subject to the timescales set out in paragraph 5.1, above, Iress shall remove the required Product no later than 11:59pm on the relevant Business Day.

5.4 If the removal of the Product is urgent, Iress will, subject to the timescales set out in paragraph 5.1, above, accept notice by telephone, provided that email confirmation to the PDE Email is provided as soon as practicable, and in any event within 1 Business Day of the time of notice by telephone.

5.5 Where an offline Mortgage Sourcing Solution is provided by Iress then, if a Registered User has not updated the latest product data on their version of the software, but Iress has made changes in accordance with paragraph 4, above, and this paragraph 5, Iress shall not be liable in relation to any out-of-date or inaccurate information which is made available to a Registered User via their offline version of the Mortgage Sourcing Solution. 

5.6 Notwithstanding paragraph 2.7 (above), the Customer acknowledges that Iress may remove (without notice) a Product where it receives an instruction from the Mortgage Lender to do so even if the Customer has not requested the same. 

6. Procuration Fees

6.1 The Customer shall provide Iress with full written details of any Procuration Fees to be applied in relation to a Product, via the PDE Email.  Any failure to provide full details may result in delays to the processing of the request.

6.2 Subject to paragraphs 6.1, Iress will display (or amend, as applicable) the Procuration Fees for the relevant Product within 2 Business Days of receipt of the notice.  In the event that the notice is provided after midday on a Business Day, the 2-Business Day timeframe will begin at 9am on the next Business Day.

6.3 Iress shall not be obligated to notify the Mortgage Lender of any changes applied to the Procuration Fees by the Customer.

7. Customer Warranty and Indemnity

7.1 The Customer warrants that any information relating to the Products it provides to Iress pursuant to this Agreement shall be accurate and not misleading in any respect.

7.2 The Customer shall defend and indemnify Iress and its Group in full against any Loss suffered by Iress and its Group arising from any claim by a Registered User or other third party (including any claim by a Mortgage Lender) as a result of, or in connection with: 

• the provision (or lack of provision) by the Customer of any information (including any Product Instructions);
• the Customer’s breach of the warranty set out in paragraph 2.6 (above); and/or
• any other error or omission whatsoever of the Customer in relation to the Customer’s obligations under this Agreement  (“Customer Product Indemnity”).

8. Termination

Upon termination of the Agreement, for whatever reason, all grants of licences under the Agreement shall cease immediately, and all Products shall immediately be removed from the Mortgage Sourcing Solutions.