There’s no such thing as “Customers” anymore.
Customer Service under REBBA, 2002 continued until 30 March 2024, that’s assuming that you had such an arrangement in place prior to 1 December 2023 the effective date of Phase 2 TRESA, 2002 changes and the arrangement didn’t otherwise expire.
So, what’s the deal?
Every contractual arrangement with anyone now includes “representation”, that’s “agency”. So, going forward your former customers will all now be clients.
But, not if they don’t agree.
The person you are dealing with wanted to be a customer and not a client. Today, they get to choose:
- Client services, or
- Termination.
They cannot extend the relationship as customer service and they don’t have to agree to client services, so they can simply “opt out” and termination is available to them should they so choose.
Brian Madigan LL. B., Broker