Terms and Conditions

1. The Creditor agrees to advance the amount stated in Key Financial Information to the Borrower subject to the terms and conditions set out in the credit agreement and these terms and conditions.
   
   
2. The Borrower agrees to pay to us the total amount payable by the instalments by the due dates stated in the “Key Financial Information” section of the credit agreement (each a “Due Date”). Prompt payment is essential (see paragraphs 3 and 4 below).
   
   
3. If the Borrower fails to pay any instalment due under this agreement we may, in addition to our rights under clause 4 below, charge the Borrower either:
   1. £10 each time a payment due under this agreement is not made by its due date; or
   2. Default interest at the interest rate stated in the “Other Financial Information” of the credit agreement on the overdue instalment, from its due date until its receipt by us, before or after any judgment;
      based on whichever option is the higher amount of (i) and (ii) above.
   We may amend these amounts to reflect any change in the cost to us in dealing with the default. Further, we may charge the Borrower any other reasonable expenses when enforcing this agreement which may include expenses that we incur after as well as before any judgment or decree, including the cost of contacting you should your details not be up to date
   
   
4. If the Borrower fails to pay any instalment within 14 days of its Due Date and/or if we become aware that any information provided by the Borrower before entering into this credit agreement was false in a material respect and/or if the Borrower commits persistent breaches of this credit agreement we may, after giving the Borrower a default notice in writing, end this credit agreement and require the Borrower to immediately pay the outstanding balance under this credit agreement less any rebate to which you may be entitled.
   
   
5. The Borrower may pay any instalment or sum due under this agreement via the following payment methods:
   1. Cash;
   2. Card;
   3. Standing order
   4. Direct debit; or
   5. Bank transfer.
      
      

6. In the event that the Borrower opts to pay via direct debit as under 5(d), the Borrower agrees that on the Due Date the Creditor will debit the amount due from the Borrower’s account as provided (the “Borrower’s Account”). Should there be insufficient funds in the Borrower’s Account the Creditor may, in addition to their rights under this agreement, charge a failed transaction fee of at cost.

7. We shall be entitled to grant time or other indulgence for the payment or satisfaction of any of my/our liabilities without affecting any of their rights, or operating as a waiver of such rights in whole or in part.

8. If two or more persons have entered into and are parties to the credit agreement, then each Borrower shall be jointly and severally liable for the obligations under this agreement. That means that each person can be held fully liable for the payment of any and all sums owed in connection with this credit agreement and there is no obligation on us to pursue any one of you before pursuing the other.

9. The Borrower represents and warrants to the Creditor that:
   1. the execution, observance and/or performance of its/his/her and/or their obligations under this credit agreement does not and will not contravene any lease, loan facility, and/or other agreement and/or arrangement to which the Borrower is a party whatsoever; he/she/it is not, and/or ever has been, Insolvent (as defined in the Insolvency Act 2011);
   2. all of the information provided to the Creditor in the Application form is true, accurate and not misleading; and
   3. he/she/it has ever been convicted of a criminal offence involving fraud, financial irregularity, money laundering, proceeds of crime, bribery, corruption, misappropriation of funds and/or property and/or harm to another person.

10. The Borrower acknowledges that he/she/it received the pre-contract information that was made available by the Creditor before entering into this credit agreement.

11. Any complaints by the consumer can be submitted to an internal complaints board constituted by any two of the Directors of the Creditor.

12. The parties agree to comply with the Data Protection Act 2004 (as amended from time to time) and any other applicable laws with regard to privacy and the protection of personal data.

13. We may use a credit scoring or other automated decision-making system. We may monitor and record telephone calls for the purpose of security and training.

14. Neither party shall be in breach of the credit agreement, these terms and conditions, nor liable for delay in performing, or failure to perform, any of their respective obligations under these terms and conditions if such delay or failure results from events, circumstances or causes beyond its reasonable control. In such circumstances the affected party shall be entitled to a reasonable extension of the time for performing such obligations.

15. The Creditor reserves the right to retain any third-party service provider in the event that the Borrower becomes in default (as set out in this agreement) for the purposes of recovering any and all sums owed to the Creditor in connection with this agreement.

16. A person who is not a party to this credit agreement has no right to enforce any of its terms.

17. The credit agreement and these terms and conditions constitute the entire agreement between the Borrower and the Creditor.

18. A notice or any other communication given to a party under or in connection with this credit agreement shall be made in writing and shall be delivered by any of the following means:
    1. by hand;
    2. sent by registered post;
    3. by email; or
    4. by text message
    to the relevant address of that party as indicated in the “Identity and contact details” section in respect of each party (as appropriate).

19. At any time(s) (including, for the avoidance of doubt, after the date hereof), the Borrower Guarantor shall (at its/his/her respective own sole cost) promptly do, sign, enter into, execute and/or deliver (as the case may be), and/or procure to be done, signed, entered into, executed and/or delivered (as the case may be), all necessary acts, deeds, instruments, agreements, documents, arrangements and/or things as may be requested of it/him/her/them by the Creditor in order to give full effect to and/or implement this credit agreement.

20. This credit agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of Gibraltar.

21. Each party irrevocably agrees that the courts of Gibraltar shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this credit agreement or its subject matter or formation (including non-contractual disputes or claims). PROVIDED ALWAYS THAT the Creditor shall have the exclusive right to issue or enforce proceedings against the Borrower in the courts of any other jurisdiction for the purpose of enforcing its rights under this credit agreement.
    
    

The Borrowers rights and other legal information

Right of withdrawal

The Borrower has the right to withdraw from the credit agreement, without giving any reasons. The Borrower must exercise this right not later than 14 days beginning on the Effective Date of the credit agreement.

Right to early repayment

The Borrower has the right to settle this agreement early, in whole or in part, under section 16 of the Financial Services (Consumer Credit) Act 2011, by notice in writing to us at our address stated in this agreement and by making payment before the end of the period of 28 days beginning with the day following that on which such notice was received by us or on or before any later date specified in the notice.

Amount payable on early settlement

If the Borrower exercises the right to repay the sums owed to the Creditor before the due date (as above), the following amount will be payable to us on the date of payment:

(a)  The full amount of loan and all interest payable for the full duration of the loan for any loans with the fixed term duration of:

(i)            3 months;

(ii)           6 months; and

(iii)         12 months.

(b)  The full amount of the loan and 60 days of interest for loans with the fixed term duration being over a year. Any amount paid in excess of the aforementioned amount shall be refunded to the Borrower on a pro-rata basis.

Default

The total amount to be paid by the Borrower to us shall become immediately payable in the event of the following:

(a)  a failure by the Borrower to pay any sum payable by her under this credit agreement within 14 days of the date on which payment is due; or

(b)  any information provided by the Borrower in the application form or warranty or any written or oral representation that made by the Borrower to us is inaccurate; or

(c)   the death of the Borrower; or

(d)  any breach of the terms of this agreement (including for the avoidance of doubt, the terms and conditions herein); or

(e)  any action or proceedings, procedure or step is taken for: or

(f)   the appointment of a liquidator, receiver, administrative receiver, compulsory manager, trustee in bankruptcy or other similar officer in respect of the Borrower (as applicable); or

(g)  the composition, compromise, assignment or arrangement with any creditor of the Borrower; or

(h)  the enforcement of any security over an asset of the Borrower; or

(i)    the Borrower commences negotiations, or enters into any composition, compromise, assignment or arrangement, with one or more of its creditors; or

(j)   any circumstances which in the opinion of the creditor prejudices the performance of my/our obligations to them under the credit agreement.

IMPORTANT--READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Financial Services (Consumer Credit) Act 2011 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, we cannot enforce this agreement without getting a court order.

Data Protection and Privacy: Some of the information which we collect (and that you provide us) as part of your application for credit (and any other information which we collect in connection to this credit agreement) is information from which you can be identified (“Personal Data”). The privacy notice which can be found attached to this credit agreement (the “Privacy Notice”), sets out the manner in which we collect, store and process your Personal Data.

The Privacy Notice also sets out all of the rights that the Borrower has in relation to any Personal Data that we collect, store and process about you.

It is important that you read and understand the Privacy Notice.

Incorporation of Terms and conditions: This agreement incorporates the terms and conditions set out in the schedule to this agreement and this agreement.

This agreement together with the schedules constitute the entire agreement between the parties.

Please ensure that you have read and understood the contents of this agreement and the terms and conditions carefully and sign it only if you want to be legally bound by its terms.

This contract was entered into by each party on the date shown in the relevant parties’ signature block and takes effect on the Effective Date as shown above.