Terms of Business / Complaints
Terms of Business and Disclosure Information
- B2B Cashflow Solutions Limited (‘B2B’) is a Credit Broker (an intermediary), authorised and regulated by the Financial Conduct Authority (FRN number: 658881) for the purposes of ‘Credit Broking’, ‘Debt Counselling’, and ‘Debt Adjusting’. You can check the validity of our FCA licence (number: 658881) on the Financial Services Register at http://www.fsa.gov.uk/register/firmSearchForm.do
- B2B is privately owned and an independent finance broker. We are not a lender. B2B works with a panel of lenders that may be reviewed from time to time. B2B is not linked to any of our panel members. A full and current list of B2B’s lender panel will be supplied to you on written request.
- B2B assists customers and third party introducers to secure the most suitable credit offer (that B2B has available) for you. B2B will always seek to obtain a credit acceptance and make a single product offer that best matches the original credit application request provided by you, however, you should be aware of other lending providers and finance brokers which may be able to offer alternative products.
- B2B has a selection of Regulated finance products that suit most finance needs. The APR and Representative Rate are detailed on the formal quotation, S.E.C.C.I. (Standard European Consumer Credit Information) and will also be detailed on any Finance Agreement you may enter into.
- As a privately-owned, independent, credit broker, B2B will earn commission from our lenders for transacting business on the terms we have quoted you, subject to the subsequent existence of a Finance Agreement.
Where B2B transacts business on the terms we have quoted you for a car, or FCA Regulated van, the amount of commission received is fixed by each of our lenders and does not affect the cost of credit.
- Under CONC 4.5.3/4 of the FCA Handbook, if you request us in writing we will disclose in good time before you enter into a Regulated Finance Agreement, the amount (or if the precise amount is not known, the likely amount) of any commissions, fees, or other remuneration payable to us by the lender.
- FCA PS14/18: Credit broking and fees. The FCA introduced new rules commencing 2nd January 2015 to protect consumers against credit brokers which charge broker fees for facilitating regulated business. B2B Cashflow Solutions Limited does not charge brokerage fees on Regulated business. However fees are payable within any Regulated Credit Agreement (RCA) by the lenders available to us should you enter into a formal RCA. These fees will always be notified to you within any Regulated quotation for credit (estimated), and any formal offer of credit we provide to you.
- B2B Cashflow Solutions is registered under the Data Protection Act 1998 (number: Z9633537). We will treat all personal information as private and confidential (even when you are no longer a customer). Nothing about your accounts, nor your name and address, will be disclosed to anyone, including other companies in our Group, other than in four exceptional cases permitted by law.
- These are:
You have the right to cancel your authority for us to use this information at any time. We confirm that you have the right of access under the Data Protection Act 1998 to your personal records held on our files, for the repayment of a fee.
- Where we are legally compelled to do so
- Where there is a duty to the public to disclose
- Where our interests require disclosure (this will not be used as a reason for disclosing information about you or your accounts, including your name and address, to anyone else including other companies in our Group for marketing purposes).
- Where disclosure is made at your request and with your consent. If you decide to proceed with a formal application for credit you will be required to sign our completed credit application to confirm all details you have provided are correct, and to give us permission to disclose our credit proposal and other confidential information you have provided to third parties for the specific purposes of applying for the finance detailed within that credit application.
- Within the FCA Policy Statement 14/18 which was effective from 2nd January 2015 credit broking agreements that are distance contracts will be subject to the right to cancel within 14 days, in accordance with the Distance Marketing Directive. B2B does not require you to enter into a credit broking agreement with us.
- B2B will not carry out personal or business searches but our lenders however if we make an application for credit on your behalf our lenders will carry out personal and/or business searches within their credit assessment process.
- Customer complaints. B2B is committed to treating and handling any customer complaints fairly within DISP 1 & 2 of the FCA handbook. A copy of our complaints handling policy below and also by download.
You can download this information in PDF form here.
B2B Complaints Policy and Procedure
Any complaint verbal or written will be referred to our complaints manager at the earliest opportunity or to a member of the senior management if the complaints manager is unavailable. We will also:
- Acknowledge the complaint in writing promptly.
- Give details in our acknowledgement letter of the Financial Ombudsman Service.
- Make contact to seek clarification on any points where necessary.
- Fully investigate the complaint.
- Keep you informed of our progress.
- Discuss with you our findings and proposed response You will receive contact from us advising on progress if we cannot respond immediately. We will let you have our final response as soon as possible and not later than eight weeks.
Adviser or Provider
Clients often express dissatisfaction to their adviser about the product provider. We will need to establish whether or not your complaint relates to the advice given, the adviser service or the service or performance of the product provider. If unclear, this must not delay investigation and we will proceed with our own investigation. The complaints manager will review this matter and take the complaint to the provider if appropriate in consultation with you.
The complaints manager will establish the nature and scope of your complaint having due regards to the Financial Conduct Authority’s direction:
- Deal with complaints promptly and fairly.
- Give complainants clear replies and, where appropriate, fair redress.
It is the firm’s policy to treat all complainants the same, however, eligible complainants are legally defined and have additional rights in law that we must acknowledge and adhere to. Eligible complainants are those who have a potential claim against a firm based whereby it believes he/she has suffered a financial loss due to poor advice or service that are:
- Private Individuals
- Companies within the EU definition of a microenterprise.
- Charities with an income of under £1,000,000
- Trustees of a trust with assets of under £1,000,000
The Financial Conduct Authority complaints rules apply to complaints:
- Made by, or on behalf of an eligible complainant.
- Relating to regulated activity.
- Involving an allegation that the complainant has suffered, or may suffer, financial loss, material distress or material inconvenience.
- Not resolved by close of business on the day following receipt.
This will set out clearly the firm’s decision and the reasons for it. If any compensation is offered a clear method of calculation will be shown. We must include details of the Financial Ombudsman Service in the final response if dealing with an eligible complainant and a regulated activity, we will:
- Explain that the complainant must refer the matter to the ombudsman within six months of the date of this letter or the right to use this service is lost.
A root cause analysis will be undertaken by the firm in the case of any complaint and this will be recorded with the appropriate action having been taken.
Closing a complaint
Where the firm receives confirmation from you that you are satisfied with the findings of the investigation and any resolution, the complaint will be considered closed.
Where no confirmation has been received from you within 8 weeks of the firm’s most recent letter, the complaint may also be considered closed.
Financial Ombudsman Service
The firm must co-operate fully with the Ombudsman in resolving any 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.
You can download a copy of our complaints procedure here.