The agent is the representative of the Takaful Operator (Insurance Company) in relation to the principal, who is appointed according to the prevailing laws. The main bond of the agent is its relationship with the Takaful Operator, not with the Takaful participant. A Takaful agent represents the Takaful Operator and its primary duty is to promote the Takaful plan or product issued by the Takaful Operator it represents. As a reward, agent will receive a portion of the contribution as remuneration from takaful operators for the services rendered. Brokers generally do not have contractual agreements with Takaful Operators and not bound by any Takaful Operator. Their relationship relies on general / direct method to complete transactions with Takaful Operator. Takaful Brokers provide a comprehensive range of professional Takaful broking services to assist potential customers on how to make paid contributions / premiums more cost effective and at the same time enjoying maximum coverage. Different with agents, Takaful brokers represent customers and advise customers on the most appropriate Takaful plan. Broker will receive brokerage fee in return for the services rendered. All …show more content…
To market their products, takaful operators have appointed agents and brokers to carry out marketing work. Problems arising, participants are not informed of the charges incurred on the contribution / payment made, and sometimes there is no current statement sent to the customer indicating the accumulated revenue in the investment account. The charges may vary depending on the performance of the takaful operator and this may expose takaful participants to the risk to bear high costs. This practice is clearly contradictory to al dharar yuzal (kemudharatan mesti dielakkan)and gharar
Tassal Group Ltd is an Australian company that farms Tasmania Atlantic Salmon. Tassal sells its product to both consumers and retailers, and in doing so has recently become the leader in producing Atlantic salmon in Australia. The company was originally started as a privately-owned company in 1986, and continued to grow until November 2003 when the company became publicly listed on the ASX. Since then the company has continued to grow, currently employing over 900 workers (Tassal.com.au, 2014).The business’ key activities involve developing and maintaining a ‘zero harm environment’ for all employees. This idea states that employees should maintain a compliant focus, and ensures leaders focus on accountability and performance management, whilst ensuring operations run smoothly (Tassal Group Ltd, 2014).
A Chinese toy manufacturer known as Fan Li approached Tegan to distribute its accessories for its Chinese made products in Europe in the May of 2007. According to the case, it was specified that Tegan’s traditional products had generally been £50 whereas Fan Li’s accessories were priced below £5. As their order’s size decreased, the growth of direct sales to consumers had increased their number of transactions. But it was a threat as Fan Li’s project provided a boost to the sales as tegan said agreed for Fan Li’s agreement. To get the appropriate outputs, Tegan’s account payables played a major role where tegan received discounts on most of its payables in prior payments as per the agreement.
This short paper is about the court decision between a financial advisor, a cohort of the financial advisor, and the investor. This decision deals with what is known as holder in due course or HDC. By being able to understand the court’s decision and how HDC works, we are able to decide whether or not it is fair. I am also able to give my thoughts on HDC, which are based both on this court’s decision and readings from the text.
M.Currie, S. M. (2009). Handbook of Frauds, scams, and swindles. London and New York: Taylor and Francis Group.
Selling receivable before its maturity date to financial institutions or factoring companies is one of the company’s strategies to obtain an immediate cash and make company’s operating cycle becomes shorter. For providing this service, the financial institution or factoring company requires a compensation such as interest, commission fee, and other requirements to secure the transaction. Consequently, the amount of money received by the company, as a seller or transferor, less than the face value of the account receivable, or it purchases at discount. Selling receivable transaction can be executed either without recourse in which the transferor has no obligation for uncollectible receivables or with recourse in which the transferor has full responsibility for any uncollectible receivables.
Nevertheless, in a world in which business and easy money have priority for some people, whose ethical and moral principles may be cause for discussion, the market that lies behind the so-called "Bogus part market" reaches different billions of Dollars.
The goods must also be paid for by various methods of payment to facilitate international trade. This essay aims to analyse the possible claims from our advising buyer G arising from other parties to the contracts involved in this transaction. The essay will also analyse the legal relationships of all parties created that their respective rights and duties may have in the transaction. In doing so, it will discuss sale of contracts on c.i.f.
In BASF Group, Business Units are responsible for profit and for return on investment (profit centers), each reporting to an Operating Division. Products within a company of BASF Group that are supplied from one profit center to another for further processing or for sale (i.e. they leave the boundaries of the particular Business Unit or Operating Division) should as a basic rule be charged within the arm’s length principle establishing the downstream unit as a privileged partner. These supplies are therefore charged at transfer prices. Long-term effects of transfer price agreements on business developments and the strategy of upstream and downstream profit centers are taken into account in transfer pricing. BASF’s ZZ clearing desk is responsible for resolving transfer price definition and calculation disputes. As per clearing desk step wise process for calculation of transfer price is defined, which will be used for calculation of transfer pricing. The process cannot be mentioned in this thesis because of confidentiality reasons, and only a general review of approach will be explained.
Commonly referred to as the ‘honour killings’ of the Shafia family is a murder plot that resulted in the death of three young female teenagers and their aunt (Maclean’s 2017). The murder was perpetrated by Mohammad Shafia, his wife and their oldest son. The three teenage sisters were killed due to their rebellion against their family’s traditions. The fourth victim was Rona Mohammad, who was referred to a collateral damage by the offenders (Maclean’s 2017). The police investigation lead to the three offenders all being found guilty on four counts of murder in the first degree (Chung and Dimanno 2012). The two theories this essay will discuss to explain why these murders occurred are one of Sykes and Matza’s techniques of neutralization, the denial of the victim, and the theory of Psychopathy (Broll 2017). The theories illustrate how Mohammad’s mentality, beliefs, and behaviour became factors that resulted in the crime. This essay will demonstrate how Mohammad Shafia’s corrupt notions of honour lead to one of Sykes and Matza’s techniques of neutralization and how his psychopathic personality indicative of his lack of guilt, aggressive behaviour and failure to conform to societal norms resulted in the heinous Shafia family murders.
Sales and marketing play an important role to maximize revenue, profit and market share in the company. To achieve the goal, sales and marketing department will carrying out market surveys of customers’ needs so that efforts can be made to develop products or services that customers’ want. For instance, Yakult is under the management support division. The objective for sales and marketing department in Yakult’s company is to promote their new products to attract and influence more consumer buy their products and increase the sales of the company. Hence, most of the sales and marketing department will have their own managers to create and manage the department budgets such as create an effective and cost-efficient marketing management strategy to persuade the consumer to purchase the
Knowing the background of ‘Ambush Marketing’s’ way of seeping into marketing arena, on the face of it, it seems the problem is simpler and a solution can be derived with simple application of existing provisions of law. However, that is not the case. There has been lots of research over the existing legal controversy, which suggest for special legislation.
Offering claims advice or consulting services could prove profitable for TC plc, and gain it revenue through charges or simply retaining customers through good service, as well as improving their service relationship between TC plc and its customers. This will help understand needs and expectations of insured’s and therefore maximise the potential of meeting future needs of a particular client, and provide knowledge on gaining similar business in the future. This would benefit TC plc in building up knowledge of its full dealings with customers, increasing TC plc 's business opportunities in the
The upcoming example can illustrate this behavior. For instance, one consumer notices the local market is offering a B...
Cespedes, F., & Nunes, P. (2003). The Customer Has Escaped. Harvard Business Review. Volume 81 Issue 11, p 96-105.
Having already made a transaction with the provider, the buyer is trying to optimize their decision and gain additional value. To help the buyer, the provider’s account manager should formulate a plan that positions the provider as a trusted partner.