THE PME CODE OF CONDUCT
By agreeing to become an Independent Lead
Generator (“ILG”) of Prime Meridian Enterprises
(“PME”) you agree to keep abreast of, be bound by and comply strictly with the rules, regulations and code of ethics embodied herein (“theCode”) and as updated from time to time. Please refer to the glossary of terms at the end of this document for detailed explanations of all important terms and acronyms used in this document.
1. Your Appointment
1.1 Your appointment as an ILG will commence upon successful completion of any requisite training and testing and upon receipt by you of an SMS or other electronic or written communication from PME confirming your unique NX number.
1.2 As an ILG you are permitted to conduct the
activities of an ILG throughout the Republic of
South Africa on a non-exclusive basis.
1.3 Nothing in this code or any other PME
documentation will mean, whether express
or implied, that you have been appointed as a
financial or insurance advisor or consultant or
broker, or as an agent or representative of PME
or PMD.
1.4 Nothing contained herein will be construed as
creating an agency, partnership or joint venture
between PME and the ILG.
1.5 Nothing herein will be construed as creating
an employer employee relationship between
PME and the ILG for any purpose whatsoever,
including without limitation, for the purposes of
the Labour Relations Act, 1995 (as amended), the Basic Conditions of Employment Act, 1997 (as amended), the Unemployment Insurance Act,
1996 (as amended), and/or any other relevant legislation that may normally be applicable to an employer employee relationship.
1.6 In terms of your appointment as an ILG, you are
not required nor permitted to operate from PME
premises. You will operate independently without supervision and according to your own hours of
work. You will only be rewarded for the results
of your lead generation and market development
activities as regulated by section 7 of this code.
1.7 As an ILG you are:
References in this code to “the parties” are
references to PME and the ILG, who are bound to each other by the terms of this code as
contracting parties.
1.7.1 not entitled to any of the benefits available to
PME employees;
rights in respect of redundancy or retrenchment or any rights to retrenchment procedures, severance pay or other benefits generally afforded
to employees.
testing and have received confirmation from PME
that your application to become an ILG has been
approved and a unique NX number has been
allocated to you;
2. Your Activities
2.1 Your role as an ILG is to deliver to people you know, or come to know, PMD promotional materials, product information and lead forms. Such people may, of their own accord, decide to respond and possibly acquire one or more PMD products.
4.2
give or offer any financial or insurance advice or
assistance in your capacity as an ILG – you have no
authority to do so;
2.2
The ILG must always conduct himself professionally
and ethically with integrity, objectivity,
confidentiality, due competence and care. These
ethical standards are further detailed in rule 5 and
wholly comply with the Code of Good Practices
suggested by the South African Department of
Trade and Industry and the Code of Ethics and
Standards followed by the Direct Marketers
Association of South Africa.
4.3
perform any function or service that may be
construed as an intermediary service as defined in
the Financial Advisory and Intermediary Services Act, 2002 (as amended) – you have no authority to do so;
4.4
Create the impression that joining PME is
conditional upon purchasing a PMD product;
4.5
make any representations or statements on behalf
of or in the name of PME or PMD, in relation to
PMD’s products, or in relation to the product
administrators or underwriters to any person
whatsoever, except as approved in writing by PME;
2.3 PME will not be liable for any expenses, costs or
disbursements of whatsoever nature incurred by
you in performing your activities or fulfilling your
obligations under this code.
4.6
collect or pay any premium or other payment
on behalf of any other person including a PMD
product owner or ILG;
2.4 Notwithstanding anything to the contrary
contained herein, PME will not be liable to you
for any loss, damage, injury, death or for any
indirect, resultant or consequential loss of any kind
howsoever arising, including but not limited to
any damages suffered as a result of a defect in any
product, promotional material or lead generation
method and regardless of whether caused by
the negligence of PME, its officers, directors,
employees, suppliers or consultants.
4.7
institute proceedings against any third party in
respect of any claim howsoever arising as a result of
your appointment as an ILG, or in connection with
your activities as an ILG, without PME’s prior written approval;
4.8
attempt to or bind PME or PMD to any agreement,
arrangement or contract – you have no authority to
do so;
3. Do’s
4.9
attempt to or incur any debt or other liability on
behalf of PME or PMD – you have no authority to
do so;
As an ILG you must:
3.1 observe all applicable laws, rules, regulations,
codes of conduct and service standards relating in
any manner to the performance of your obligations
under this code;
4.10
attempt to or obtain any credit facilities either in
the name of or on behalf of PME or PMD – you
have no authority to do so;
3.2 familiarise yourself and remain up to date with
the most current information published on the
PME Website (www.pme.co.za) including but not
limited to the prevailing version of this code;
inform all those to whom you deliver or show PMD
product or promotional materials that all products
are direct-purchase, single need products made
available by means of printed or electronically
displayed literature, without advice or analysis
of any kind and that those buying such products
must apply themselves to such literature or
information and make their own arrangements to
ensure that such products are appropriate to their
circumstances and needs.
4.11 attempt to or make any representations on behalf
of PME or PMD in any way whatsoever; nor to
accept, alter, discharge, waive or terminate any
product on behalf of PMD – you have no authority
to do so.
4.
Dont’s
4.13 4.1
commence your ILG activities until you have
successfully completed any requisite training and
4.14 alter or edit any materials, descriptions or
promotional materials provided to you;
1.7.2 not permitted to operate from PME’s premises;
4.12 publish, sell or distribute any advertising, training
or other materials produced by you or anyone
other than PME or PMD;
conduct any lead generation or market
development activities (including any social
media advertising or campaigns) relating to
or in connection with PME, PMD, the product administrators or underwriters, using any materials
or written descriptions produced by you or anyone
other than PME or PMD – all required materials
and descriptions will be provided to you;
1.7.3 liable for your own operational costs;
1.7.4 upon termination as an ILG, not entitled to any
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4.15 use any official promotional materials, documents
or contents prepared by PME or PMD for any
purpose other than the purpose for which it was
provided to you in terms of this code;
4.16 send unsolicited advertising in any form including
faxes, SMSs, social media posts or e-mails or
engage in spamming in order to promote PME
or PMD, its business opportunity, promotional
methods or products;
4.17 use the name “Independent Lead Generator”, “ILG” or any other trademark, trade name or logo of PME and/or its affiliates otherwise than strictly in accordance with this code;
4.18 form a company, firm or other entity incorporating
as part of its name the word “Prime Meridian”,
“Direct”, “PME”, “Enterprises” or any similar
words;
4.19 apply for the registration of the word “Prime
Meridian”, “Prime Meridian Enterprises, “PME”,
“PMD” or any similar word or any other
trademark, trade name or logo as a trade name or
trademark.
4.20 directly or indirectly procure, persuade, induce or
encourage any:
4.20.1 employee of PME or PMD to leave their
employment;
4.20.2 ILG to terminate his appointment as an ILG;
4.20.3 PMD product owner to cancel any product
purchased by him or her;
4.21 for the duration of your appointment in terms
of this code become involved in any manner
whatsoever, in the provision of services or the sale
of products where such services or products in any
way compete with PMD products or services.
4.22 cede, delegate or assign any of your rights and/or
obligations in terms of this code without the prior
written consent of PME, which PME may grant in
its sole and unfettered discretion.
5. Ethics
A distinguishing characteristic of PME is that its
ILGs accept and abide by the following standard of
ethics to ensure that all persons are treated fairly
and given clear, concise and complete information:
5.1 Integrity
5.1.1 An ILG should be open and honest in all interactions with potential product owners and other ILGs and should not violate any of the laws of South Africa in the performance of his duties. The principle of integrity imposes an obligation on all ILGs to interact fairly and truthfully with everyone.
5.1.2 An ILG may NOT knowingly be associated with
information, reports, incidents, accusations or other communication that:
5.1.2.1 contain materially false or misleading statements; or
5.1.2.2 omit or obscure information required to be included, where such omission or obscurity would
be misleading.
5.1.3 When an ILG becomes aware that another ILG has
been associated with such information, reports,
incidents, accusations or other communication, the
ILG must immediately inform PME and take any
required steps to be dissociated from such matters.
5.1.4 5.2 Interactions with children and minors imposes
a special responsibility on the ILG. ILGs must
recognise that children and minors are not
adults and that greater care must be taken when
engaging with them and the ILG must not exploit
their naivety, lack of experience or sense of loyalty.
5.3 Due Competence and Care
Objectivity
The principle of objectivity imposes an obligation
on all ILGs to ensure that they are NEVER placed in a position of bias, conflict of interest or under the undue influence of others. An ILG shall not perform his function if a circumstance or relationship has the capacity to unduly bias, jeopardise or compromise the ILGs position.
The principle of due competence and due care
requires all ILGs to maintain adequate knowledge
and understanding of the PME model at the level
required to ensure that potential product owners
and ILGs receive accurate, complete and objective
information. The ILG is to take special care when
engaging with people whose first language is not
English.
5.4 Confidentiality
5.4.1 An ILG must maintain confidentiality of any information disclosed by potential product owners
and ILGs and not use such information for personal
advantage or for the advantage of third parties.
5.4.2 The ILG undertakes to treat as strictly confidential
all information of any nature whatsoever which he
may obtain pursuant to his activities or arising from
the implementation of this code, howsoever such
information may be disclosed to him including,
without limiting the foregoing, whether orally,
visually, written or in electronic format.
5.4.3 Any confidential information, including, personal
Information, know-how, trade secrets, techniques,
product information and lead generation methods,
obtained by the ILG in performing his obligations
under this code is proprietary to PME and is being
made available to him and/or will otherwise
come into his possession solely for the purpose of
fulfilling his obligations under this code.
5.4.4 The ILG may not disclose any PME or PMD
confidential information to any person other than
as may be approved in writing by PME or as may
be required by law.
5.4.5 The ILG must take all necessary security precautions to keep confidential PME or PMD confidential information.
5.4.6 The ILG acknowledges and understands that
the unauthorised disclosure of PME or PMD
confidential information may give rise to irreparable damage to PME or PMD.
5.4.7 The ILG may not directly or indirectly use for his
benefit or the benefit of any other person any PME
or PMD confidential information except for the
purposes contemplated under this code.
5.4.8 The ILG will not use, copy, reproduce or modify
any PME or PMD confidential information in any
way except for the purposes of performing his/her obligations under this code or on the specific written instructions of PME.
5.4.9 The ILG agrees and undertakes that upon termination of his appointment, the ILG will return
to PME all copies of any documents, handwritten
notes, computer disks and other formats in or on
which any PME or PMD confidential information is
stored.
5.4.10 The provisions of this rule 5.4 will survive
termination of the ILGs appointment code for any
reason whatsoever.
5.4.11 For the purposes of this section, “confidential
information” means any information provided
by any member of PME, PMD or a product
administrator or underwriter, or collected by or
made available to the ILG in connection with his/
her activities under this code that identifies or
can be used to identify, contact, categorise or
locate the person to whom such information
pertains, or from which identification or contact
information of an individual person can be derived.
Confidential information includes, but is not
limited to: name, address, phone and fax number,
email address, identity number and credit card
or banking information and includes all details of
product owners. Additionally, to the extent any
other information is associated or combined with
personal information, such information will also be
deemed to be confidential information.
5.5 Professional Behaviour
All ILGs shall conduct themselves in a manner that
shall not bring the name of PME, PMD, its parent
company, sister companies or its subsidiaries into
disrepute. All ILGs shall be honest and truthful
in all their activities and shall never offer advice,
compare, attack, degrade, discredit or damage
the reputation of a competitor’s products, nor
exaggerate factual information about PMD
products.
6. Intellectual Property and Promotional Guidelines
6.1 All copyright, trademarks, trade names, logos,
designs, devices, patents, know-how and other
intellectual property rights in any document,
drawings, data, promotional or training material supplied by any member of PME to you in
connection with your appointment or activities will
remain vested in PME as appropriate.
6.2 You will bear the costs of all activities or promotions which you decide to undertake provided you have the written consent of PME. Such materials must clearly indicate that you are an independent lead generator for PME.
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6.3 On expiration or termination of your appointment,
the ILG will cease making use of any PME or PMD
intellectual property rights and will immediately
deliver to PME all documents, data, promotional
and training material supplied to the ILG by any
member of PME or PMD.
7. Lead Fees
7.1 Subject to your complying with your obligations
under this code, you will be entitled to receive lead
fees calculated in accordance with the following, the total of which is inclusive of VAT, where applicable.
multiplied by the appropriate factor from the table below based on the number of degrees away from you the partner ILG concerned is. A partner ILG who is directly linked with your NX number is considered a 1st degree ILG. An ILG who is linked to one of your 1st degree ILGs is considered a 2nd degree ILG and so on:
TEAM EARNINGS MULTIPLIER
7.2 Where your lead generation activities are “successful” and ultimately result in the purchase
of a PMD product, you will receive a lead fee in
each month in which that product remains in force.
7.3 Lead fees will be paid for each successful lead in
accordance with the following table:
MONTHLY PRODUCT
PAYMENT
LEAD FEE
AMOUNT
R99
R10.00
R100 to R149
R12.50
R150 to R199
R17.50
R200 to R249
R22.50
R250 to R299
R27.50
R300 to R349
R32.50
R350 to R399
R37.50
R400 to R449
R42.50
R450 to R499
R47.50
R500 to R599
R55.00
R600 to R699
R65.00
R700 to R799
R75.00
R800 to R899
R85.00
R900 to R999
R95.00
R1,000 to R1,499
R125.00
R1 500 to R1 999
R175.00
R2 000 to R2 999
R250.00
7.4 Subject to the terms of this code, the ILG will, on the 20th day of each month, receive where applicable any bonuses and any undisputed lead fees in respect of PMD product payments reckoned from the first to the last day of the previous month, allowing for any post month end debit order reversals. Actual payment dates may differ in accordance with the fall of public holidays, weekends and the practices of PME.
7.5 PME reserves the right to change its remuneration
structures, rules, regulations, practices and contents of this code at any time upon 30 days’ written notice.
8.
Partnering with other Independent Lead Generators
8.1
8.2
As an ILG you are allowed to partner with other ILG’s and link them to your NX number.
8.3
The lead fee received from partner ILGs is determined according to the table in the section above and then 50
For each successful lead that a partner ILG generates, you will receive a lead fee.
ENTERPRISE STRUCTURE
EARNINGS MULTIPLIER
Direct Leads
100% of lead fee
Team Leads - 1st Degree
50% of lead fee
Team Leads - 2nd Degree
25% of lead fee
8.4
A linked ILG will remain linked to his or her original
ILG, regardless of whether or not the original ILGs
appointment has been terminated.
8.5 If an ILGs appointment has been terminated for any reason and he wishes to apply again as a new ILG but under different approaching ILG, PME will in its sole and unfettered discretion, on written application from the ILG, consider such an application.
8.6 PME does not allow multiple ILG memberships from individual persons.
8.7 You are not permitted to make false representations to PME or PMD regarding whose activities generated a lead. Where your own activities have generated a lead but you indicate that such lead was generated by a partner ILG (whether intentionally or not), PME reserves the right to disregard that lead from your Enterprise and take any further corrective action it feels appropriate.
9. Taxes and other State Levies
You agree that you will be solely responsible for any tax liability, levy, charge, withholding or deduction of any kind which may arise as a result of the receipt of lead fees or any other bonuses, incentives or disbursements received as a result of conducting your activities as an ILG, including value added tax, unemployment insurance fund contributions, skills development levies, PAYE/SITE, or any other tax or levy.
10. Your Warranties, Assurances and Undertakings
By accepting your appointment as an ILG, you
warrant, undertake and represent to PME that:
10.1 You are a South African resident in possession of a valid South African identity document, work permit or residency visa and are 18 years of age or older;
10.2 You have read and are familiar with this code and
undertake to comply with it when performing your
activities as an ILG and will familiarise yourself with
any changes to the code from time to time;
10.3 You will under no circumstances give financial or
insurance advice (exercising any kind of judgement
or making any kind of recommendations) nor render any kind of intermediary service in your capacity as an ILG;
10.4 You will comply with all applicable legislation and regulation, as amended from time to time, regarding, inter alia, the long-term and the shortterm insurance industry (including any legislation or regulation applicable to intermediaries) and including the National Credit Act 2005, the Consumer Protection Act 2008 and the Protection of Personal Information Act.
10.5 You will indemnify, defend and hold harmless PME
and PMD, and its officers, directors, employees,
suppliers and consultants against all claims, demands, fines, penalties, actions, proceedings,
judgments, damages, losses, costs, expenses or
other liabilities incurred or in connection with any
claim directly or indirectly relating to a wrongful
act or omission by you in terms of the activities
performed by you under this code.
10.6 You understand that PME will suffer financial
harm and loss if you breach the provisions of
this code particularly the “Do’s” and “Dont’s”
detailed above. In the event that you breach any
of the provisions of this code, in addition to any
other remedies which PME may have, PME will be
entitled to claim and recover from you an amount
equal to all lead fees and any bonuses paid to you
for the period of 12 completed calendar months
prior to the said breach.
10.7 You understand and accept that PME may monitor
any lead generation, market development or
promotional activities that you undertake and
may request you to amend or withdraw any
promotional material, information or descriptions
which were not explicitly provided by or officially
endorsed by PME or PMD.
10.8 You understand and assure us that all the
warranties in terms of this code given by you upon
acceptance of your appointment are material and
in the event of a breach of any warranty, PME will,
in addition to any remedies provided in this code,
be entitled to all the remedies available to it at law.
10.9 You understand and assure PME that your appointment as an ILG is on the basis that the
warranties contained herein are correct as at your
appointment date and will continue to be correct
for the duration of your appointment.
11. Personal Information & Communication
By accepting your appointment as an ILG, you agree to share the following information with PME and other ILGs to whom the information is pertinent:
11.1 Your telephonic and electronic contact information
including inter alia your e-mail address, fax, fixed
line and mobile telephone numbers.
11.2 Information about other ILGs linked to your NX number.
11.3 Any other personal information considered
relevant by PME.
12.
Termination and Negligent or Wrongful Acts
by You
12.1 Both you and PME will be entitled to terminate your appointment, with or without cause, by giving not less than 30 days written notice of termination to the other.
12.2 Notwithstanding anything to the contrary contained herein, PME will be entitled, without prejudice to any rights that it may have, including the right to claim damages or specific performance from you, to summarily terminate your appointment by giving written notice to you, if you:
12.2.1 breach any of the provisions of this code and fail to
remedy such breach within 7 days of written notice
given to you by PME requiring you to remedy the
breach;
12.2.2 falsify, fraudulently alter, modify or edit without
permission any documents or records required by
PME, including but not limited to the ILG and PMD
product lead forms, or commit any other act of
dishonesty;
12.2.3 omit to act or commit any act which, in the reasonable opinion of PME, adversely affects or is reasonably likely to adversely affect the goodwill or reputation of PME or PMD, or any of their members, officers, directors, employees, contractors or other ILGs;
12.2.4 give any financial, insurance or other advice which
you are precluded from giving;
12.2.5 make any financial recommendations to or
financial judgement calls for anyone you encounter
in your activities as an ILG;
12.2.6 render an intermediary service in your capacity as
an ILG;
12.2.7 are provisionally or finally sequestrated;
12.2.8 commit any act of insolvency in terms of the
Insolvency Act, 1936 (as amended); or
12.2.9 act or fail to act in a manner which causes PME or
PMD to suffer loss or damage or which is likely to
cause PME or PMD to suffer loss or damage.
12.2.10 should you be arrested, accused of racism or
reported in the press for any reason whatsoever.
12.7 By simply writing to PME you may nominate one
living person (not a corporate entity) to receive
your earnings and assume your NX number in
the event of your death or total and permanent
disability.
12.8 That person must be at least 18 years of age at
the time of taking over, may not be another ILG
or direct family member of another ILG, and will
be subject to the same rules that would have
applied had you remained as the ILG. Where you
have not provided PME with a written nomination
compliant with these requirements, all lead fees,
bonuses and incentives will be paid to your estate
until they have run off. You may also nominate a
trust, charity or other corporeal entity to receive
your lead fees in place of your estate. A beneficiary
nomination may be changed by you whenever
you wish. However, no will or other testamentary
instrument will have the effect of changing your
nomination.
13. Resolving Disputes
13.1
The procedures set out in this rule must be
complied with in respect of any and all disputes or
differences arising out of or in connection with this
code (“dispute”).
13.2 Unless a party has complied with the provisions
of this rule, that party may not commence
proceedings relating to the dispute except where
that party seeks urgent relief, in which case that
party need not comply with this rule in seeking
such relief.
13.3 If any party alleges any dispute, that party must
issue a notice of the dispute to the other and in
each case the notice must set out, in reasonable
detail, the basis of the dispute (“dispute notice”).
13.4 After the issue and receipt of a dispute notice,
the parties must ensure that the parties meet and
use reasonable endeavours to finally resolve the
dispute within 10 business days from the date of
such dispute notice.
12.3 Should your appointment be terminated for any
reason above, you will forfeit the right to receive
any lead fees, bonuses, incentives or other benefits
in terms of this code with effect from the date of
your termination.
12.4 If PME, on reasonable grounds, suspects that
any act referred to above has been committed,
PME may in its sole and unfettered discretion on
written notice to you immediately suspend your
appointment as an ILG pending the outcome of an
investigation into the matter. Upon finalisation of
the investigation, PME will be entitled to terminate
your appointment in accordance with this rule or
to re-instate you, as the case may be.
13.6 The arbitration will be held, with only the parties
and their representatives present thereat, at a
place and venue nominated by PME.
12.5 If PME has suspended your appointment, for the
duration of such suspension period you will not
be entitled to any lead fees, bonuses, incentives or
other benefits. If PME re-instates you, PME will pay
any benefits that accrued to you during the period
of suspension.
13.8 The arbitrator will be an impartial advocate or
admitted attorney of not less than 10 years’
standing appointed by PME.
12.6 If this code is terminated due to your death, you or
your estate, as the case may be, will be entitled to
receive the lead fees which you would ordinarily
have been entitled to in terms of this code.
13.10 The parties will keep the evidence in the arbitration
proceedings and any order made by any arbitrator
confidential.
13.5 If the parties are unable to resolve the dispute
through the process detailed above then either
party may refer the matter to arbitration.
13.7 The arbitration will, where possible, be held
and concluded in 21 business days after it has
been demanded. The parties will use their best
endeavours to procure the expeditious completion
of the arbitration.
13.9 All discussions and proceedings will be held in
English.
13.11 The provisions of this rule are severable from the
rest of this code and will remain in effect after this
code is terminated for any reason.
13.12 The arbitrator will have the power to give default
judgment if any party fails to make submissions on
due date and/or fails to appear at the arbitration.
13.13 The decision of the arbitrator will be binding
on the parties, without subsequent review and
without the right to any appeal.
14. Correspondence
The parties choose as their address for service for
all purposes under this code, whether in respect
of court process, notices or other documents
or communications of whatsoever nature, the
following addresses:
PRIME MERIDIAN ENTERPRISES (PTY) LTD:
Postnet Suite 430, Private Bag X51, Bryanston,
Sandton, 2021
Prime Meridian House, Building 6, Bryanston Gate,
170 Curzon Road, Bryanston, JHB
Fax: 011 367 7255
E-mail: [email protected]
Independent Lead Generator:
The address as set out in the ILG application or as
otherwise advised to and acknowledged by PME
in writing.
14.1 Any notice or communication required or
permitted to be given in terms of this code
will be valid and effective only if in writing, but PME will be competent to give notice by fax, SMS, email or publications on the
PME Website.
14.2 Either party may by notice to the other party
change the physical address chosen as its address for service to another physical address where postal delivery occurs in the RSA or its postal address or its fax number or e-mail address, provided that the change will
become effective on the 7th business day
from the deemed receipt of the notice by
the other party.
14.3 Any notice to a party:
14.3.1 sent by prepaid registered post (by airmail
if appropriate) in a correctly addressed envelope to its chosen address for service
will be deemed to have been received on
the 7th business day after posting (unless the
contrary is proved);
14.3.2 delivered by hand to a responsible person during ordinary business hours at its chosen address for service will be deemed to have been received on the day of delivery; or
14.3.3 sent by fax or SMS to its chosen fax or cell phone
number will be deemed to have been received on the date of dispatch (unless the contrary is proved);
14.3.4 published on the PME Website will be deemed
to have been received on the 7th business day
after publication;
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14.3.5 sent by e-mail to its chosen e-mail address, will
be deemed to have been received on the date of
dispatch (unless the contrary is proved).
14.4 Notwithstanding anything to the contrary
contained in this code a written notice or
communication actually received by a party will
be an adequate written notice or communication
to it notwithstanding that it was not sent to or
delivered at its chosen address for service.
15. General
15.1 This code constitutes the entire agreement
between the parties and supersedes any
other discussions, prior arrangements and/or
understandings regarding the subject matter
of this code, including but not limited to any
prior codes.
15.2 No addition or modification to any provision of
this code will be binding on the parties unless made
in writing and signed by an authorised representative
of PME.
15.3 No extension of time or waiver or relaxation of any
of the provisions or terms of this code will preclude
such party thereafter from exercising its rights
strictly in accordance with this code.
15.4 To the extent that PME grants any indulgence in
its sole and unfettered discretion, such indulgence
will not be construed as creating a precedent nor
will it be binding upon other ILGs requesting the
same or similar indulgences and will not preclude
PME from refusing to grant same without the need
to provide reasons therefore.
15.5 To the extent permissible by law no party will
be bound by any express or implied term,
representation, warranty, promise or the like not
recorded herein, whether it induced the code and/
or whether it was negligent or not.
15.6 PME reserves the right to make exceptions to the
provisions of this code at its sole discretion and,
where there is doubt, to interpret this code in
accordance with its intentions at the time of its
drafting hereof.
15.7 PME may freely cede, delegate or assign its rights
and/or obligations hereunder.
16. Glossary of Terms
“lead fee” - means an amount paid in accordance
with the code for successfully generating a lead
that results in the purchase of a PMD product.
“appointment date” - means the date on which
PME provides SMS or other written acceptance
of the applicant’s application to be appointed as
an ILG;
“business day” - is a day that is not a Saturday,
Sunday or a public holiday in South Africa;
“code” - means this code setting out the rules and
practices applicable to and binding upon ILGs and
as may be amended from time to time by PME in
its sole discretion, the current version of which
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may from time to time be accessed on the PME
Website at www.pme.co.za and of which the ILG
application forms part;
“direct family” - means a husband, wife, fiancé,
son or daughter including adopted or fostered
children and all common law, customary or tribal
law, and civil unions or marriages. It further
includes any other family members within 2
degrees of consanguinity of the ILG living in the
same household.
“PME” - means Prime Meridian PME (Pty) Ltd with
registration number 2002/030583/07 and where
appropriate includes its subsidiaries, holding
company and fellow subsidiaries from time to time;
“PME Website” - means www.pme.co.za;
“ILG” - means a person who has applied to become
an Independent Lead Generator for PME in
terms of a completed application form and who
has successfully completed the relevant training
and testing, and who has received the requisite
approval from PME in terms hereof.
“ILG application” - means the application form
to be completed by a person desiring to apply for
ILG status;
“party” or “parties” - means the ILG or PME or
both, as the context requires.
“PMD” - means Prime Meridian Direct (Pty) Ltd
with registration number 2004/032998/07 and
where appropriate includes its subsidiaries, holding
icompany and fellow subsidiaries from time to time;
“PMD products” - are those financial and
insurance products available directly from PMD;
“product owners” - means persons who, after
considering the detailed product information
received, have decided to purchase one or more of
the PMD products and whose product payments
are up to date;
“product payments” - means those premiums
or other amounts due from time to time for the
purchase and ongoing maintenance of PMD
products.
“us” - means PME
“you” or “your” - means the ILG.