Terms of Business.

TERMS OF BUSINESS

From time to time, we may provide you with advice and this agreement (Agreement) is a master agreement which sets out the terms on which we provide all credit broking services to you and therefore applies to all business conducted between us.

T&L Leasing Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under number 653686.

T&L Leasing is a Credit Broker with a portfolio of carefully chosen finance companies on our panel. We do not have access to the entire market.

1. OUR SERVICES

• We will at all times act in your best interests and will source funding from a limited number of finance companies within the market that are suitable to the requirements you disclose to us. When the preferred option has been agreed, we will provide you with information about the funding and the provider of this to ensure you understand your responsibilities and commitments before proceeding.
• Our aim is to provide you with a professional and confidential service that delivers the highest possible standards. However, there may be occasions where you feel this has not been achieved and should you wish to make a complaint about any aspect of the service we provide to you, you can do this by writing to Phil Snewin, T&L Leasing Ltd, 7 Hilliards Court, Chester Business Park, Chester, CH4 9QP or by telephoning us on 01244 677716 where we will try to resolve your concern at the earliest time possible.

2. OUR CHARGES

• We will not charge you any fee for this service as we receive payment directly from the finance company.

3. ASSET FINANCE OPTIONS

 The main options for financing newly acquired equipment are:

• Purchasing outright for cash
• Entering into a loan facility with a bank
• Raising new capital
• Renting for a short period (typically less than one year)
• Entering into an asset finance agreement. A finance company will purchase the equipment from the supplier you have selected, at the price you have negotiated. You will then hire or lease the equipment from the finance company.

In deciding which option to select, relevant factors may include:

• Whether you have the cash to buy outright
• How long you need the equipment for
• The costs of the different options

4. SUITABILITY OF ASSET FINANCE

Asset finance may not be suitable in certain circumstances. You should be aware:

• You will have to continue to pay for the equipment for the agreed period even if you no longer need the equipment or it cannot be used
• If you change the equipment during the agreed minimum rental period this could lead to higher charges
• Asset finance is unlikely to be suitable if you are not sure if you will need the equipment for the minimum contract period
• Asset finance is unlikely to be suitable if you are not sure the equipment will be maintained and kept in a useable condition for the minimum contract period
• If you terminate an asset finance agreement early, there may be a significant charge for doing so.

5. LIMITATION OF LIABILITY

(a)We shall be liable for losses suffered by you in respect of:

1. death or personal injury caused by our negligence; and
2. any fraudulent misrepresentation made by us

(b) Save in respect of our liability under clause 5(a), which shall not be limited, we shall not be liable for any actions, proceedings, demands, losses, costs, claims, damages or expenses:

1. arising out of any tortious act or omission or any breach of contract or statutory duty calculated by reference to profits, income, production or accruals or loss of such profits, income, production or accruals or by reference to accrual of such costs, claims, damages or expenses on a time basis; and
2. in contract, tort (including negligence), breach of statutory duty, or otherwise, for any indirect or consequential losses; and

(c) to the extent that the same is caused wholly or partly by breach of any condition, term or warranty of this Agreement by you; and

1. unless written notice of your claim in respect of the same is received by us within seven business days of the time of the events giving rise to the claim coming to the notice of you. We shall in any event be discharged from all liability unless proceedings are brought within twelve months of the date on which this Agreement terminates.

(d) Our total aggregate liability under or in connection with this Agreement (whether in contract, for negligence, breach of statutory duty or otherwise) for any loss or damage of whatsoever                       nature and howsoever caused shall be limited to and in no circumstances shall exceed the fee received by us detailed in clause 2.

(e) Any conditions or warranties (whether express or implied by statute or common law or arising from conduct or a previous course of dealing or trade custom or usage or otherwise                                 howsoever) as to the care and skill with which we shall provide services to you under this Agreement are expressly excluded by this Agreement to the fullest extent permitted by law.

6. DATA PROTECTION NOTICE

Assisting your business in obtaining finance will involve the processing of your personal data. This Data Protection Notice is intended to give you information on how this personal data (i.e., information which directly or indirectly identifies you) will be processed by any Third-Party Lender to which we submit a finance application on behalf of your business when we have not yet identified the Third-Party Lender or Lenders to which such an application should be submitted. You will be given details in due course of their identity, but for present purposes we will refer to any such Third-Party Lender in this notice as “the Third-Party Lender”

For the purposes of EU data protection laws, the Third-Party Lender will be a data controller.

Data That May Be Collected. The Third-Party Lender may collect certain personal data with respect to you, including, without limitation, your name, address, date of birth, contact details, credit reference data, financial and employment details, banking and credit card details, director or shareholder roles, income and details of your business. The Third-Party Lender may collect some of this data from third parties, for example credit reference agencies.

Where your business is a corporate entity the Third-Party Lender may collect personal data about the directors and shareholders of the business from credit reference agencies where this data is held publicly, such as at Companies House.

Use of Personal Data.  The Third-Party Lender will use your personal data for: provision of products and services, credit and AML risk assessment, profiling for marketing purposes, market research and product development, statistical analysis, marketing, fraud prevention and detection and otherwise as necessary to comply with applicable laws, regulations and/or codes of practice. The processing of personal data may be necessary for the performance of a contractual relationship, compliance with a legal obligation, or where it is in the legitimate interests of the Third-Party Lender or a member of any group of companies to which the Third-Party Lender belongs.

Disclosure to Certain Third Parties. The Third-Party Lender may disclose certain personal data: (i) within any group of companies to which the Third-Party Lender belongs; (ii) to the Third-Party Lender’s brokers and dealers / suppliers, professional advisors and service providers (including, information technology systems providers); (iii) to courts, governmental and non-governmental regulators and ombudsmen; (iv) to fraud prevention agencies and law enforcement agencies; (v) to any Third-Party that acquires, or is interested in acquiring, all or part of the Third-Party Lender’s assets or shares, or that succeeds the Third-Party Lender in carrying on all or a part of its business, whether by merger, acquisition, reorganization or otherwise; and (vi) as otherwise required or permitted by law.

In particular, the Third-Party Lender may share the personal data it collects with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights can be found at www.tl-leasing.co.uk or by contacting the Data Privacy Officer(s) whose details will be given to you at the same time as you are informed about the identity of the Third-Party Lender.

In addition, in order to process your application for finance, your personal data will be shared with credit reference agencies (CRAs). The Third-Party Lender will send information about your applications to CRAs and they will record this, even if your business’ application does not proceed or is unsuccessful.  This will include information from your credit application and about your financial situation and financial history. CRAs can give the Third-Party Lender both public information (e.g. electoral register) and shared credit, financial situation and financial history information and fraud prevention information

The Third-Party Lender may use the data received to:

• Assess your creditworthiness:
• Verify the accuracy of the data you have provided:
• Prevent criminal activity, fraud and money laundering:
• Manage your account(s);
• Trace and recover debts; and
• Ensure any offers provided to you are appropriate to your circumstances.

The Third-Party Lender may continue to exchange information about you with CRAs while you have a relationship with them and may also inform the CRAs about your settled accounts. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs. When CRAs receive a search from the Third-Party Lender they will place a search footprint on your credit file that may be seen by other lenders.

If you are making a joint application or tell the Third-Party Lender that you have a spouse or financial associate, the Third-Party Lender may link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs to break that link.

The identities of the CRAs, their role also as fraud prevention agencies, the data they hold, the ways in which they use and share personal information, data retention periods and your data protection rights with the CRAs are explained in more detail at each of the three CRAs websites – using any of these three addresses will take you to the same CRAIN document:

Callcredit www.callcredit.co.uk/crain Equifax www.equifax.co.uk/crain Experian www.experian.co.uk/crain.

Transfer of Personal Data Outside the European Economic Area (“EEA”). The Third-Party Lender may transfer your personal data to recipients (including affiliates) located in countries outside of the EEA, which may not have data privacy laws equivalent to those in the EEA.  In such a case, the Third-Party Lender is under a duty to take all necessary steps to ensure the safety of your personal data in accordance with applicable data protection laws.

Your rights.  Under applicable EU data privacy laws, you may have a right to: (i) request access to and rectification or erasure of your personal data; (ii) obtain restriction of processing or to object to processing of your personal data; and (iii) data portability (i.e. to request the transfer of personal data from one data controller to another in certain circumstances).  If you wish to exercise any of these rights you should contact the Data Privacy Officer(s) whose details will be given to you at the same time as you are informed about the identity of the Third-Party Lender.  You also have the right to lodge a complaint about the processing of your personal data with your local data protection authority.

The Third-Party Lender may rely on automated credit assessment based on the personal data which we provide to it and data which it obtains from a credit reference agency or similar sources about your credit profile or history. The outcome of this process can result in an automated decline of your application where it does not meet the Third-Party Lender’s acceptance criteria. The Third-Party Lender has a duty to review these acceptance criteria regularly to ensure fairness in the decisions made, and you have a right to ask it to manually review any decision taken in this manner.

Security.  The Third-Party Lender is under a duty to take steps to protect your personal data against loss or theft, as well as from unauthorized access, disclosure, copying, use or modification, regardless of the format in which it is held.

Retention.   When you are informed of the identity of the Third-Party Lender, you will also be informed of the policy it adopts regarding the retention of your personal data.

Enquiries, Requests or Concerns. All enquiries, requests or concerns regarding this Notice or relating to the processing of Personal Data, should be sent to our Data Privacy Officer using the following contact details admin@tl-leasing.co.uk or to the Data Privacy Officer(s) whose details will be given to you at the same time as you are informed about the identity of the Third-Party Lender.