Terms and Conditions

When a suitable facility has been sourced, an individual Agreement will be raised and issued to the client.

Indicative Terms
1.1 Before signing this Agreement the Broker will complete a form of Indicative Terms. The Terms shall be read and take effect as if they formed part of this Agreement.

1.2 Revision to the Terms will not affect the liability of the Client to pay the arrangement fee, unless the revision required is so fundamental that the Terms, as revised, materially fail to meet the requirements of the Client, as recorded in the original form of Indicative Terms.

The Client’s Duty to the Broker
2  The Broker relies on the Client for the accuracy of statements, information and representations notified in writing to the Broker by the Client, or by his professional advisers, for the purposes of negotiating terms on behalf of the Client. The Client agrees fully and completely to indemnify the Broker from the consequences of, or in respect of any loss caused by, inaccuracies or misrepresentations for which he is responsible and on which the Broker has relied.

Arrangement Fee
3.1  The arrangement fee shall be paid without regard to the ability of the Client to satisfy all or any of the conditions stipulated by the Lender whether in the Offer or subsequent to its issue.
3.2  The Lender may pay the Broker introductory commission in respect of the funding agreed in the
Lenders Offer and the amount paid will be shown or disclosed upon request from the client.

Method of Payment of Arrangement Fee
4     The arrangement fee will be paid:

4.1  by crossed cheque in favour of the Broker and sent to the address of the Broker; or

4.2  by the Client’s Solicitors (who are hereby irrevocably instructed by the Client to do so by way of copy of this Agreement) from funds held by them on the Client’s behalf.

Failure to Complete Offer
5    In the event that the Offer is cancelled, or the Client fails or declines to sign the acceptance of the Offer, the arrangement fee will be paid by no later than three calendar months from the date of issue of the Offer.

Continuing Liability
6   It is expressly agreed by the Client that the liability to pay the arrangement fee under Clause 2.2 shall continue notwithstanding that the Broker ceases to act for the Client, for whatever reason, subsequent to the signing of this Agreement.

NACFB Code of Practice/Complaints/Arbitration
7  The Broker agrees to act on behalf of the Client in accordance with the terms of the prevailing edition of the Code of Practice of the National Association of Commercial Finance Brokers  (a current copy of which is available on request from the Association). The Code stipulates the remedies available to the Client in the event of a complaint or other dispute (after exhausting the Broker’s own complaints procedures).

Definitions
8  A reference to a party shall include reference to a partnership, body corporate, unincorporated association, assignees or successors in title. Words in the singular shall include the plural and words indicating a particular gender shall include the other gender.

9  This Agreement shall be construed in accordance with English Law and the parties irrevocably agree to submit to the exclusive jurisdiction of the English Courts.