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Glossary

Quotation Service
A service provided by a Third Party supplier which, on request, provides an enquirer to that Quotation Service with one or more Quotes based on specific Client Information. A Quote provided directly by a Product Provider to an Adviser is not considered a Quotation Service.
Quote or Quotation
An offer from a Product Provider for a Contract based on a Quote Request and specific Client Information that may be provided via a Quotation Service or directly from a Product Provider.
Quote Request
A request for a Quote on behalf of a specific Client.
QWPS
Qualifying Workplace Pensions Scheme. From 2012, a pension scheme that employers can use to discharge their auto-enrolment duties.