Discretionary Commission Arrangements - Complaints and Refunds

Terms and Conditions

Terms of Business

1. Parties

This agreement is formed between Redbridge Finance Limited a Company registered in England & Wales with Company Number 10625599 which has a Registered Office at Highfield, Crossing Lane, Claydon, OX17 1EX. (Redbridge, Us, We, Our).

Redbridge Finance is a Claims Management Company that is Authorised and Regulated by the Financial Conduct Authority. Firm Reference Number: 836097.

Redbridge Finance Limited is registered with the Information Commissioners Office for Data Protection purposes with registration number ZA533663

and

You

2. Purpose

When signed this Terms of Business form a contractual agreement between the parties detailed in Section 1 whereby:

Redbridge will represent you in making a claim against the lender(s) who have previously provided you with loans or other forms of credit that you believe may have been granted irresponsibly.

You will remunerate Redbridge for providing this service, on a No Win – No Fee basis as detailed in Section 8 of this agreement.

3. Pre Contractual Information

Before signing this Terms of Business you should read Our ‘Pre Contractual Information’ document. This provides useful information including the process that will be followed, the obligations on you, and other information that will help you determine whether this agreement is suitable for your needs. A copy of this information can be viewed by visiting Pre Contract Link at any time, or you can request that this document is emailed to you.

4. Making Your Claim

When you instruct and authorise us to make a claim on your behalf you agree to Redbridge Finance Limited contacting the 3^rd parties that We need to in order to make and manage that claim. You agree to Redbridge Finance Limited sharing with them the information you have provided to Redbridge Finance Limited and also collecting and processing the information we receive from them.

During the process, we will need to make decisions on the best way to proceed and you give your authority for Redbridge Finance Limited to use our skill and judgement to make such decisions on Your behalf.

5. Additional Credit

Unless you have specifically provided details of agreements that You DO NOT want Us to make a claim on, if during the course of a claim, the lender reveals other credit that you have taken with them, We may, at our discretion, extend the claim to cover these. In such circumstances, these loans will be covered by this agreement and the respective success fees will be payable.

6. Your Obligations

During the claim, you will be asked to provide Redbridge Finance Limited with information about you, your circumstances and your borrowings. You must ensure that this information is accurate and honest. Knowingly providing fraudulent or incorrect information at any time may jeopardise your claim and will put you in breach of this agreement.
You must, at the start of the claim, provide Redbridge Finance Limited with all documents, including those in electronic forms such as emails or computer files, in your possession that is relevant to the claim (You will be asked to confirm this when signing this document).
You will read any documentation that Redbridge Finance Limited, or the lender, sends you and retain these documents in your safekeeping.
You will advise Redbridge Finance Limited immediately of any changes to the details you have provided or if you realise that information previously provided has changed or contains errors.
If an offer of compensation is sent directly to You, You will notify Redbridge Finance Limited of this within 5 days.
If we inform you that a lender has written to you directly and are refusing to send us a copy, you will, on request, forward us a copy within 7 days of us asking you.
You agree unless a legal or statutory requirement dictates otherwise, to receive all written communications from Redbridge Finance Limited by email to the email address supplied by You. We may also use the post to send such communications.
You will not, at any time throughout the term of this agreement, withdraw from any lender our authority to act on your behalf and/or work with them, without first cancelling this agreement in accordance with clause 9.

7. Our Obligations

We will manage Your claim with reasonable care and diligence to ensure that where there has been a case of irresponsible lending, Redbridge Finance Limited maximise the possibility of You getting what you are entitled to.
We will assist You to fill in any necessary forms and where appropriate check the details You have provided, however We will NOT “coach” You on how to fill in these in order to maximise the claim value where this would result in inaccurate information being entered. All answer, statements or declarations are Your responsibility.
We will keep You updated on the progress of Your claim as it progresses.
If We do not feel that the claim has sufficient merit to be continued We will advise You of this. We will then release this loan from this agreement to allow You to proceed with the claim yourself if you wish. (Please note, if We do this only that loan is released from this agreement – any other loans not notified under this clause will still be pursued by Us and a success fee is payable.)
We have an obligation to ensure that Redbridge Finance Limited avoid any conflicts of interest. We, therefore, have the right to refuse to take on a claim, or where a claim has been started, terminate this agreement, if we suspect that this would be the case.

8. Payment – No Win No Fee

All claims are undertaken on a No Win – No Fee (NWNF) basis.

Illustration of Fees:

From 1^st March 2022 fees charged by Redbridge Finance will be capped as per the table below. Further examples are shown below the table.

The figures quoted are only calculated on actual money sent to you. If you get a balance reduction, we do not charge any fees on the balance reduction element, just on money sent to you by the lender.

Band	Redress awarded for a claim (£)	The maximum percentage rate of charge	The maximum total charge (£)
1	£1-£1,499	30% plus vat	£420
2	£1,500 - £9,999	28% plus vat	£2,500
3	£10,000-£24,999	25% plus vat	£5,000
4	25,000-£49,999	20% plus vat	£7,500
5	£50,000 or above	15% plus vat	£10,000

These are some examples:

Band 1

Compensation amount £1,000. Our Fee £300 + VAT (£360 inc VAT). You get £640

Compensation amount £1,499. Our Fee £350 + VAT (£420 inc VAT). You get £1,079

Band 2

Compensation amount £5,000. Our Fee £1,400 + VAT (£1,680 inc VAT). You get £3,320

Compensation amount £9,999. Our Fee £2,083.33 + VAT (£2,500 inc VAT). You get £7,499

Band 3

Compensation amount £15,000. Our Fee £3,750 + VAT (£4,500 inc VAT). You get £10,500

Compensation amount £24,999. Our Fee £4,166.67 + VAT (£5,000 inc VAT). You get £19,999

Band 4

Compensation amount £30,000. Our Fee £6,000 + VAT (£7,200 inc VAT). You get £22,800

Compensation amount £49,999. Our Fee £6,250 + VAT (£7,500 inc VAT). You get £42,499

Band 5

Compensation amount £50,000. Our Fee £7,500 + VAT (£9,000 inc VAT). You get £41,000

Where You refuse to accept a compensation offer You will still be liable for our fees including if the case is referred to the Financial Ombudsman Service (FOS) for their arbitration. If an offer is rejected by You after the FOS have reviewed the case you will still be liable for rur success fee.

You must notify Redbridge Finance Limited within 5 days of knowing that payment is going to be made directly to your account. We will provide You with an invoice which must be paid within 5 days of receipt of payment from the lender. If an invoice remains unpaid after 5 days an arrears fee of £20.00 per month will be payable.

If we are made aware or suspect, that a final response to a complaint has been issued, and the lender refuses to send us a copy, we will ask you to supply this in accordance with clause 6h of this agreement. If you refuse to do this we will assume that an offer of redress has been made. As we will not know the value of the redress offered we will not be able to calculate our fees. In these cases, we will calculate our fees based on the average of all offers received from that lender over the preceding 12 months. An invoice will be raised and will become payable within 5 days. If you subsequently send us a copy of the final response received from the lender we will recalculate our fees based on the actual redress offered. An admin fee of £100 plus vat will be charged in this situation.

9. Debt Collection Fees

Where our fees remain unpaid, we reserve the right to charge Debt Collection Fees as follows: Arrears Fees £20 per month, Legal Fees (uncapped), Court Fees £500, Warrant Fees £77, High Court Writ £66, Attachment of Earnings £110, Track and Trace Fees £171 and any other fees incurred.

10. Cancellations

Your right to cancel.

You have the right to cancel your contract before an offer is made by the lender without giving any reason. However, if you cancel after two weeks without providing an acceptable reason we will charge for time spent on your case. If you cancel after the case has been submitted to the FOS, and no further input is required from you, you will still have to pay our fees calculated on any award recommended by the FOS.

To exercise the right to cancel, you must inform us of your decision to cancel this contract by a clear statement (e.g. a letter sent by post or email). You may use the Cancellation Form, but this is not obligatory.

Cancellations after an offer is made.

If you cancel after an offer of compensation has been made our success fee as detailed in Section 8 of this agreement will be payable.

The notice of cancellation must be sent by post or emailed to claimsteam@redbridgefinance.co.uk

11. Breaching this Agreement

If you breach any clause in this agreement the following will apply:

We will notify you of what you have done to cause the breach and what needs to be done by you to fix it. We will give you a period of 14 days to carry out the actions needed in order to resolve it. If this is not going to be possible you must contact us so that we can agree a mutually suitable plan to allow us to continue to represent you under this agreement.
If you fail to resolve the breach within the period specified in (a) above we will deem this to be a cancellation of the agreement and as such cancellation fees will be payable in accordance with clause 9 of this agreement.

12. Complaints

You have the right to complain about our service at any time. If You are still unhappy after Redbridge Finance Limited have responded You have the right to refer the complaint to the Claims Management Ombudsman. Full details of Our Internal Complaint Procedure can be found at http://www.redbridgefinance.co.uk/complaints-procedure. If You would like a copy sending to You please contact Us and We will arrange this.

13. Limitations of Liability

We shall not be liable for any costs or losses caused to You as a result of:

Delays caused by You in providing information or documentation requested by Redbridge Finance Limited.
Delays in the transmission or delivery of information or documentation caused by email service providers or the postal service.
Failure of information or documentation sent between You and Redbridge Finance Limited to arrive with the other party.
Any other matter which is outside of Our control.
Human error.

Before you sign this agreement you must read the terms carefully. You must also read our Pre Contractual Information document. If there is anything that you do not understand in either document you must ask us for additional information or clarification before you sign this agreement.

A copy of our Privacy Policy is displayed on Our website (http://www.redbridgefinance.co.uk/privacy-policy). This contains details of what we will do with your data, and also your rights under the Data Protection Act. By signing this agreement you acknowledge the existence of this Privacy Policy and that it is available for you to read.

I confirm that I have given Redbridge Finance Limited all documentation, including that in electronic form, that I know about which is relevant to the claim.

Signed ________ ________ Date ________