Customer due diligence is the process by which we confirm the identity of our customers. The extent to which customer due diligence is required is dictated by the nature of the transaction.Transactions are classified as follows:
Property transactions: all transaction involving a Premier group owned property, including rent and service charges and sub-letting arrangements.
High value berthing transactions: transactions for berthing with a value of 15,000 euros or more. Linked transactions are transactions that are broken down into separate smaller transactions to avoid the 15,000 euro limit. Linked transactions are considered as a single transaction. For example, an annual berthing licence split into two six month licences of £9,000 each would constitute a high value berthing transaction.
Retail transactions: retail transactions comprise: seasonal and visitor berthing; sales of fuel and gas; car parking; electricity charges; and other sales incidental to our business e.g. ice.
Full customer due diligence is required for all property and high value berthing transactions.
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