Terms of Business
The Broker (“We”, “Us”, “Our”)
The Client (“You”, “Your”)
Defined Terms
| Agreement | Means the agreement by and between the Broker and the Client, that comprises these
Terms of Business, the Broker’s Terms and Conditions (set out in Schedule 1) and any Confirmation of Instructions Letter entered into in connection with the same. |
|---|---|
| Ancillary Service | Means any service provided by a third-party engaged by the Broker in connection with the Credit Broking Services, which could include (but is not limited to) the services of solicitors or valuers. |
| Arrangement Fee | Means the appraisal fee set out in clause 3.1 below. |
| Arrangement Fee | Column 2 Value 3 |
| Completion | Means the date that a Finance Agreement between the Client and a Lender becomes effective following the submission of a Lending Proposal. |
| Credit Broking Services | Means the credit brokering services which We agree to provide to You under this Agreement. |
| Commission | Means a sum of money that is paid to Us by a Lender in connection with a Lending Proposal. |
| Commencement Date | Means the date of this Agreement once it has been executed by both Parties. |
| Confirmation of Instructions Letter |
Means a confirmation of instructions letter, executed by the Client, in substantially the form set out in the Schedule 2. |
| FCA | Means the Financial Conduct Authority. |
| Fee | Means the Appraisal Fee, the Arrangement Fee and/or the Renewal Fee as the case may be. |
| Finance Agreement | Means an agreement to finance a Finance Product. |
| Finance Offer | Means a written offer setting out the proposed terms of finance issued to you by the Lender (whether such offer is conditional or unconditional) or any replacement thereof. |
| Finance Product | Means an instrument in which a person can either borrow money, or enter into a finance arrangement for the provision, purchase or refinancing of goods or services. |
| Lender | Means any lender to whom the Lending Proposal is presented by Us. |
| Lending Proposal | Means a funding proposal prepared by Us and submitted to the Lender setting out, amongst other things, the requirements recorded in the Confirmation of Instructions Letter. |
| Finance Product Amount | Means the sum advanced by the Lender to You following the issue of a Finance Offer by that Lender which has been accepted by You. |
| Parties | Means together the Broker and the Client, each being a “Party”. |
| Privacy Notice | Means the privacy notice provided to You about how We process Your Personal Data |
| Regulated Activities Order | Means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. |
| Renewal Fee | Means the renewal fee set out in clause 5.1 below. |
| Suitability Letter | Means a report outlining Our recommendations to You as to which Lender We feel is most suitable in submitting a Finance Offer to You. |
In this Agreement unless otherwise specified and the context otherwise requires:
- references to statutes and subordinate legislation shall be construed as references to those statutes or that subordinate legislation as respectively replaced, amended or re-enacted from time to time; and
- references to this Agreement or any other document or to any specified provision of this Agreement or any other document are to this Agreement, that document or that provision as in force for the time being and as amended from time to time in accordance with the terms of this Agreement or that document and with the consent of the Broker in writing, as the case may be.
1. Appointment of the Broker
1.1 This Agreement sets out how We will deal with You in the provision of Credit Broking Services. We will start providing Credit Broking Services to You from the Commencement Date.
2. Standards Statement
2.1 Crisp Capital Limited is a private limited company registered in England and Wales under company number 11312813 – Registered Address – The Old Forge, Wendens Ambo, Saffron Walden, England, CB11 4JL
The activities of Business and Corporate Loans, do not constitute regulated investment business under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. As such, clients of Crisp Capital Limited will not be afforded the protection available under the rules of the Financial Conduct Authority (‘FCA’) and will not be eligible for compensation under the rules of the Financial Services Compensation Scheme (‘FSCS’).
3. Appraisal and Arrangement Fees
3.1 We do not charge any fees for our services. Our business model ensures that you can access our offerings without incurring any direct costs. If there are any third-party fees or charges involved in a particular transaction or service, these will be clearly disclosed to you in advance. We are committed to full transparency and ensuring that there are no hidden costs.
4. Client Acknowledgement
4 4.1 By executing this Agreement, you acknowledge that:
4.1.1 You have been urged to seek such independent advice as You consider necessary before signing this Agreement.
4.1.2 We will source [Finance Offers/ a Finance Offer] from a panel of lenders whose names will be supplied upon request. In this role, We are doing no more than effecting an introduction between You and the Lender(s) to enable You to choose a Finance Product which, in your sole opinion, is suitable for You to meet your financial objectives. We are not Your agent or otherwise acting on Your behalf, and there is no duty upon Us to provide you with impartial advice, information or any recommendation relating to a Finance Product.
4.1.3 We will receive a Commission from the Lender for introducing You to them in relation to the funding set out in the Finance Offer. For the avoidance of doubt any payment of Commission is subject to the terms of Our arrangements with the Lender who pays that Commission and will not be subject to the refund arrangements in clause 3.3 above. Different lenders pay different amounts. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow, and rate for risk. Under some commission models we operate under, the more that you pay to the lender, the more we may receive by way of commission.
4.1.4 You have read the Broker’s Terms and Conditions set out in Schedule 1 and agree that they form part of this Agreement.
4.2 You are aware that We are required to disclose the nature of the payment of any Commission in Our communications. The existence and nature of commission arrangements. Where the Commission varies depending on the Lender, product or other permissible factors will always be disclosed within our Commission Disclosure Document.
4.3 You are aware that We will receive Commission from referring You to an Ancillary Service for introducing You to them, and You have no objections to Us receiving this amount. If You wish to receive any further information concerning any Commission paid to Us by any third-party Ancillary Service, please let Us know in writing.
4.4 Where you have been referred to us by a third-party Ancillary Service, dealer or introducer, commission will have been paid to the dealer and or introducer for the introduction.
4.5 Having acknowledged the matters set out under this clause 4, You hereby consent to Us receiving and retaining any Commission paid.
4.6 Credit Searches and Consent
You acknowledge and agree that, in order to assess Your creditworthiness and facilitate the provision of Credit Broking Services, We may carry out or instruct third parties (including potential Lenders) to carry out credit checks and searches using credit reference agencies. These checks may include both hard and soft searches, which may leave a record on Your credit file.
Where You are a corporate entity, You further acknowledge and agree that such credit searches may also be conducted on any directors, shareholders, or other individuals connected with the company, as necessary to support the assessment of the application.
By entering into this Agreement, You provide your explicit consent to Us and any Lender to whom We submit a Lending Proposal to:
Conduct such credit searches as may be necessary;
Share information about You and any relevant directors or shareholders with credit reference and fraud prevention agencies;
Use information obtained from such searches to assess Your application for credit and related services.
Further information on how Your data is processed is provided in Our Privacy Notice. You should ensure You are fully aware of Your rights in this regard before signing this Agreement.
Schedule 1
BROKERS’ TERMS AND CONDITIONS
- Confirmation of Instructions
1.1 Before signing the Agreement, the Broker will complete a Confirmation of Instructions Letter which shall be read and take effect as if they form part of the Agreement. The Confirmation of Instructions Letter will take effect on the date that it is signed by the Client.
2. Your duty to Us
2.1 The Client agrees to act with utmost good faith in the provision of information to the Broker. This duty is continuous and applies to all information the Client provides to the Broker, whether the Broker has requested it or whether the Client has provided it voluntarily. The Client agrees not to withhold information from the Broker.
2.2 The Client agrees to take all reasonable steps and use all reasonable endeavours to comply with and satisfy any condition imposed by the Lender who has made a Finance Offer that accords with the requirements set out in the Confirmation of Instructions Letter.
3. Amendments
3.1 Any amendment to this Agreement, whether proposed by the Broker or the Client shall be notified in writing to the other Party no less than 30 days prior to such amendment taking effect.
4. Complaints
4.1 It is fundamental to us that we provide you with the very best service and do everything that we can to make it easy for you. However, we do recognise that very occasionally things do not go as planned and in these rare circumstances we will do everything we can to rectify your issue.
We welcome you telling us about it so that we can put matters right for you and make improvements going forward.
We want to rectify your issue as soon as possible so no matter how you communicate with us, we’ll listen and act on your concerns.
The easiest way is by talking to us about your concern. Please call us 01217 599919 or if you prefer to email, you can reach us at team@crispcap.co.uk
Our postal address is – 3 Brindley Place, Birmingham, B1 2JB
5. Privacy Notice and Data Protection
5.1. A Privacy Notice has been issued by the Broker to the Client separately from the Agreement, further details of which (and a copy of the same) is available upon request. Being transparent and providing accessible information to individuals about how the Broker will use the Client’s personal data is a key element of the General Data Protection Regulation (GDPR).
5.2. The Privacy Notice details lawful bases for processing data, who We are, how We use the information about You, marketing consent, what information is collected, why the personal data is required, Our data retention periods and individuals’ rights to personal data. More detailed information can be obtained on request.
5.3. You must be confident You understand how Your data will be processed. If You require further clarification, please contact Us before entering into the Agreement.
6. Assignments and third-party rights
6.1 This Agreement is personal to the Client and a person who is not a party to this Agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999.
6.2. The Broker may assign, in whole or in part, this Agreement or any of its rights, liabilities or obligations under it, as it thinks fit.
7. Professional Indemnity
7.1 The Broker will maintain professional indemnity insurance cover in respect of its business with and on standard terms offered by reputable insurers.
8. Exclusions
8.1. The Client accepts that the Broker shall have no liability for any economic loss suffered or incurred by the Client (whether direct, indirect or consequential) insofar as it relates in any way to loss of business, loss of Client data, interruption of business or loss of profits or goodwill because of the manner of performance by the Broker of any obligations arising under the Agreement.
8.2 Nothing in the Agreement shall limit either Party’s liability in respect of any claims:
8.2.1 for death or personal injury caused by the negligence of such party;
8.2.2. resulting from any fraud including, without limitation, fraudulent misrepresentation made by such party; or
8.2.3 for which liability may not otherwise lawfully be limited or excluded.
9. Choice of Law
9.1 The Agreement shall be governed by and construed in accordance with English Law. All claims and disputes (including non-contractual claims and disputes) arising out of or in connection with the Agreement, its subject matter, negotiation or formation will be determined in accordance with English law.
9.2. The Parties irrevocably agree to submit to the exclusive jurisdiction of the English Courts.
