Agreement Terms and Conditions (Customer)

STANDARD TERMS

1. Definitions

In these terms and conditions:

“Agreement” means the fixed sum loan agreement which incorporates these terms and conditions;

“Amount of Loan” means the amount stated in the Financial Details section of the Agreement as the Amount of Loan;

“Customer”, “you” and “your” means the customer whose details appear in the Parties section of the Agreement;

“Default” means any event or circumstance listed in clauses 4.1.1 to 4.1.6.;

“Default Charges” means those charges stated in the Missing Payments section of the Agreement as the default charges under this Agreement;

“Deposit” means the amount stated in the Financial Details section of the Agreement as the deposit in this Agreement;

“Goods and Services” means the goods and services identified in the Goods and Services section of the Agreement;

“Lender”, “we”, “us” and “our” means the lender whose details appear in the Parties section of the Agreement.

“Repayment” means each repayment of the Amount of Loan stated in the Repayments section of the Agreement;

“Repayment Date” means each date stated in the Repayments section of the Agreement for the making of a Repayment;

“Supplier” means the supplier whose details appear in the Goods and Services section of the Agreement;

“Supplier Agreement” means the agreement made between you and the Supplier in connection with the supply of the Goods and Services; and

“Total Amount Payable” means the amount stated in the Financial Details section of the Agreement as the total amount payable by you under this Agreement.

2. Scope of Agreement:

This Agreement sets out the terms of which we are providing to you a loan for the purchase of Goods and/or Services.

3. Payment

3.1 Deposit

If you have not already paid the Deposit, you will pay the Deposit on the date of this Agreement to us.

3.2 Repayments

You agree to pay us all Repayments on the Repayment Dates. Punctual payment in full is essential and it is your responsibility to ensure that payments reach us on time.

3.3 Default Charges

3.3.1 Where a fixed sum default charge is stated, we may charge you this on the occurrence of the event giving rise to the Default Charge without further notice to you.

3.3.2 For any other Default Charges, you agree to pay these within 14 days of service of a demand on you.

3.4 Payment Method

You agree to pay the Deposit, Repayments and any fixed sum Default Charges by Credit Card, Debit Card, Charge Card, Direct Debit or other similar card, or such other method as may be stated in this Agreement. We may permit you to use an alternative method of payment at our sole discretion. We reserve the right to charge you 1.5% of the amount paid if you pay by Credit Card.

3.5 Card and Direct Debit Payments:

If you are to pay by card or direct debit:-

3.5.1 in the case of card payments, you must provide details of the card to be used for payment (if you have not already done so) which must be in your sole name, including card number, expiry date and security code. If you are to pay by direct debit, you must complete such form of instruction to your bank as we may require; and

3.5.2 you authorise us to collect the Deposit on the dates stated on this Agreement from your specified card; and

3.5.3 you authorise us to collect each Repayment from your specified card, without notice to you on or at any time after each Repayment Date; and

3.5.4 you authorise us to collect any fixed sum Default Charges from your specified card without notice to you, when such Default Charges have been incurred by you; and

3.5.5 you authorise us to collect any outstanding balance if you withdraw from or rescind this Agreement; and

3.5.6 if any specified payment method fails for any reason you authorise us to take any amount due from you by any other method you have authorised us to use.

3.6 You may settle this Agreement at any time by giving us notice in writing or orally and paying to us all amounts remaining to be paid under this Agreement.

4. Right to Demand Early Repayment

4.1 Default Notice

If:-

4.1.1 you fail to pay any repayment by its stated Repayment Date; or

4.1.2 you fail to pay any Default Charge when it is incurred; or

4.1.3 any information you have provided about yourself proves to be materially incomplete, inaccurate or misleading; or

4.1.4 you breach the terms of the Supplier Agreement or any other agreement made between you and the Supplier (or any of its affiliates); or

4.1.5 you commit any other breach of any of your obligations under this Agreement (however minor); or

4.1.6 you return or cancel (as appropriate) the Goods and Services in accordance with the terms of the Supplier Agreement, we may serve a default notice on you.

4.2 Contents of Default Notice

4.2.1 if your Default is capable of remedy, we will specify in any default notice the action we require you to take to remedy the breach and the date by which you must take that action, which will be at least 14 days after we serve the default notice on you.

4.2.2 if the Default is not capable of remedy, we may at our option specify a reasonable sum to be paid by you as compensation for the Default and the date by which it is to be paid.

4.3 Default remedied by you

If you take such action or pay such sum as is specified in our default notice, the Default will be treated as not having occurred.

4.4 Default not remedied by you

If:-

4.4.1 you fail to take such action specified in our default notice, by the date stated; or

4.4.2 your Default is not capable of remedy, and we have not asked for monetary compensation instead, and a period of 14 days has passed after we served our default notice on you,

we shall be entitled to demand that you immediately pay to us the unpaid balance of the Total Amount Payable and any Default Charge.

5. Change of Address

You must notify us in writing within 7 days of changing your address from that shown on this Agreement or any other address previously notified by you under this clause 5.

6. Notices to you

Any notice given to you under this Agreement shall be deemed to be properly served if sent to you by pre-paid post addressed to you at your last known address. You further agree that as an alternative to contacting you by post we may contact you by email and/or SMS. Such communication may include matters confidential to you.

7. Waiver

We may on occasion, at our sole and absolute discretion, allow you extra time to pay, or decide not to exercise or wait before exercising our rights. However if we do so, we shall still be entitled to insist on the strict terms of this Agreement later on.

8. Third Party Rights

This Agreement does not confer any rights on any person other than the Lender and the Customer, and the Contracts (Right of Third Parties Act) Act 1999 shall not apply.

9. Transfer of Our Rights

We shall be entitled at any time to assign, transfer or grant a charge over the benefit of this Agreement and our rights under this Agreement (including our rights to the debt due under this Agreement) to any other person, firm or Company. Such assignment, transfer or change will not vary the terms of this Agreement.

10. Law

This Agreement is governed by English Law and you submit to the exclusive jurisdiction of the English Courts.

11. Customer Information and Data Protection

We will hold information about you and your payment record in accordance with the Data Protection Act 1998. We may give such information to credit reference agencies, debt collecting agents, and any proposed assignee, transferee or chargee of our interest in or any of your debts under this Agreement. We will not share such information with third parties for direct marketing purposes. You have a legal right under the Data Protection Act 1998 to a copy of information held by us about you on payment of a fee.