Insurance regulation
Regulations on the insurance fund Eco Investments:
1. General Provisions
1.1. This Regulation is a certified document for the formation and use of the Eco Investments insurance fund. All of these provisions are in accordance with EU legislation.
1.2. The mission of the insurance fund is aimed at forming the financial obligations of certified participants. These obligations guarantee the availability of compensation for clients in the event of: any damage caused due to the provision of poor quality services; in case of insolvency of members certified by Eco Investments
1.3. The Eco Investments Foundation bears financial responsibility within the limits of this regulation and solely for the obligations of those companies that have been certified. The stipulated documents govern the relationship between companies and customers. Money from the fund can be used exclusively to compensate for losses that may arise as a result of non-fulfillment or improper fulfillment of these obligations.
2. Formation of the insurance fund.
2.1. The insurance fund is formed from monthly contributions made by companies certified by Eco Investments. Contributions to the insurance fund are transferred to a Eco Investments account or otherwise in accordance with EU law.
2.2. After the company passes Eco Investments certification, it is obliged to make a transfer to its insurance fund within a period of at least 5 working days after the certification decision is made.
2.3. In spite of everything, the release of a financial institution from the obligation to make contributions to the fund is excluded.
2.4. If the participant is deprived of the certificate of conformity, the contribution made to the insurance fund is not refundable.
3. Payments from the insurance fund.
3.1. Payments are possible only in cases where specialists authorized by Eco Investments confirm that violations by a certified company are justified. And the company, in turn, rejected the decision of Eco Investments and did not reimburse the client for the amount of losses.
3.2. The funds of the insurance fund may be used exclusively for the purposes provided for in paragraph 1.3 of these Regulations.
3.3. If the client’s claim is recognized as justified and the need to satisfy it, Eco Investments specialists make payment from the insurance fund. Payment must be made at least 10 working days after the relevant decision has been made.
3.4. Payments are made to the client’s payment details, which must match the original source from which the funding was made. Eco Investments reserves the right to require all necessary documentation to identify the client. In case of refusal by the client to provide documents, Eco Investments reserves the right to refuse payment to him.
4. Final provisions
4.1. This Regulation shall enter into force upon publication on the official website of Eco Investments (https://ecoinvestments.co.uk/) and notification by e-mail to all members of Eco Investments.
4.2. Changes and additions to this Regulation are approved by the Authorized Eco Investments and posted on the official website of the Partnership.