Initial Disclosure Document

Financial Conduct Authorityy

The Financial Conduct Authority is the independent body that regulates financial services. Commercial Vehicle Contracts Limited is authorised and regulated by the Financial Conduct Authority. Our register number is 678622 and you can check our status at: https://fca.org.uk or by contacting the Financial Conduct Authority on 0300 5000597. Our permitted business includes credit broking.

Data Protection

We will treat all of your personal information as private and confidential to us and anyone else involved in the normal course of arranging and administering your business, even if you are no longer a customer. We will not give anyone else any personal information except on your instructions or authority, or where we are required to do so by law, or by virtue of our regulatory requirements. We may use information we hold about you to provide information to you about other products and services, which we feel may be appropriate to you. Under the Data Protection Act 1998 you have the right to see personal information about you that we hold in our records. If you have any queries please write to us at our usual office address.

Our Service

Our dedicated client Account Managers will assess your demands and needs through a series of qualification questions and a consultative approach, and may make a recommendation to you. You will then be able to make an informed decision about the overall suitability of our service and any financial product, ancillary product and motor vehicle before you decide to proceed.

Complaints

Our aim is to provide a thorough and appropriate service at all times. However if you wish to register a complaint, please contact us in writing at:

We will provide you with a copy of our full complaints procedure and respond to you promptly. We will keep you informed of the progress of your complaint and aim to make a final response to you within eight weeks, or keep you informed as to why this is not possible. In the event that your complaint relates to activities or services provided by another party, we will ensure that your complaint is appropriately forwarded in writing, and will track the progress of the complaint and responses of that party. After our final response has been issued, if you still cannot settle your complaint with us, you may be entitled to refer it to the BVRLA as the dispute conciliation provider for the motor vehicle and motor vehicle finance industry.

The BVRLA is approved by government as a Consumer ADR body under the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015. Unresolved disputes may be referred to the BVRLA by either the customer or the member involved.

The BVRLA will aim to resolve the matter using the information presented by both parties to the dispute. Any information requested from the member should be sent to the BVRLA within five working days. Based on the information available, the BVRLA will provide both parties with its findings and recommendations. The BVRLA aims to resolve complaints through the Conciliation Service within thirty days.

The Conciliation Service will investigate potential breaches of the Codes of Conduct, which sets out the standards the BVRLA expects from its members. The Conciliation Service can only look at matters that relate to disputes arising from the activities of BVRLA members.

Where the Conciliation Service finds in favour of the customer, we will look to ensure that any unjustified charges incorrectly raised by the member are refunded in full. The service cannot adjudicate on the quantum of the amount charged, only on whether the charge was correctly raised.

The Conciliation Service does not have any jurisdiction to award compensation payments.

BVRLA members must comply with the rulings of the Conciliation Service. Use of the Conciliation Service does not restrict the rights of a complainant to pursue remedies through the courts. Customers are not obliged to retain a lawyer or legal advisor but may seek independent legal advice or be represented or assisted by a third party at any stage of the procedure.

Please write to:

Address:  British Vehicle Rental & Leasing Association (BVRLA), River Lodge, Badminton Court, Amersham, Buckinghamshire, HP7 0DD

The Financial Ombudsman offers a dispute conciliation service which is primarily concerned with the finance element of the customers complaint, and the firm must co-operate fully with the Financial Ombudsman in resolving and complaints made against it and agrees to be bound by any awards made by the Ombudsman.

The firm undertakes to pay promptly the fees levied by the Ombudsman.

Address: The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR

Tel: 0800 0234567, 0845 080 1800, 020 7964 0500

Email: complaint.info@financial-ombudsman.org.uk

Website:www.financial-ombudsman.org.uk

Cancellation

Holders of regulated finance agreements may have fourteen days after signing the contract documents during which to cancel the contract without paying a penalty to do so. This is known as the cooling off period and forms part of your consumer rights. If you would like to cancel the contract you should fill in the cancellation form and return it to the company denoted on the form.

Commercial Vehicle Contracts Limited will charge for the cancellation of vehicle orders a fee at least equivalent to the initial rental of the finance agreement, as per the terms and conditions of order.

The laws that govern the length of the cooling off period differ depending on how and where the agreement takes place.

For example:

Consumer Credit Act 1974:

If you enter into a regulated credit agreement you have a right to a fourteen day cooling off period from the date of the agreement regardless of any pre-arranged visit. If you don’t receive a copy of the ‘executed agreement’, the cooling off period extends to the end of the fourteenth dayfollowing the day you signed the agreement.

Consumer Protection (Cancellation of Contracts Concluded Away From Business Premises) Regulations 1987:

If you enter into a contract away from business premises you have a right to cancel the contract within fourteen days.

If the relevant law requires a longer cooling-off period, then this should take precedence over the requirements of the Code.

The company must set out clearly in the contract the conditions and costs that will apply should you want to cancel after the cooling off period. These must comply with the Unfair Terms in Consumer Contracts Regulations.

Language

The English language will be used for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract.

Status Disclosure

Commercial Vehicle Contracts Limited is a credit broker and not a lender. With your agreement, we will introduce you directly to our selected panel of lenders to establish credit. This will result in a credit search against our business and may include nominated directors and partners. As such we will share your business and any submitted personal details with our business partners during the normal course of transacting your business. In the event that we introduce you to Arval, ALD or Santander then this will be conducted via our strategic partner Lookers PLC, to whom we will make your business and personal details available in the normal course of transacting your business. In the event that Commercial Vehicle Contracts introduce you to a funder that operates on behalf of a motor vehicle manufacturer, then this introduction will be via a nominated franchised motor vehicle retailer appointed on behalf of the manufacturer, to whom we will make your business and personal details available in the normal course of transacting your business.