PPI Terms of Engagement

Advance Financial > PPI Terms of Engagement


Terms of Engagement for the appointment of Advance Financial Consultants Limited to act on the Client’s behalf in all aspects of administration & negotiation of the claim.

“Institution” or “Company” – The Company who sold you the policy

“Client(s)” – the named policyholder(s)

“Claim(s)” – the clients claim(s) against the “company”

“Compensation” – any compensatory deposit or final settlement in respect of this matter

“Representative” – means Advance Financial Consultants Limited

“Fee” – the amount which Advance Financial Consultants Limited is paid for representing the client in this matter

“Services” – the service provided on behalf of the client.

Conduct of Engagement
2.1 By signing and returning the Letter of Authority, the Client hereby agrees to be bound by the Terms and appoints Representative to provide the Services for such period as to allow the representative to assess, and if reasonably possible, to complete the Claim.

2.2 By signing and returning the Letter of Authority the client agrees to answer all questions openly and honestly declare any incidence of fraudulent activity or past criminal activity which may influence this claim. Failure to do so will render this agreement invalid and the client will be liable for the minimum cost involved as per clause 3.6.

2.3 By signing and returning this agreement the client instructs the representative to deal directly with the company and to retain any compensation paid out in full and deduct the fee before forwarding on the remainder of the compensation.

2.4 The Client agrees the representative has the exclusive right to deal with the claim. Should it be made aware another party is involved in the claim other than representative the client has to pay a cancellation fees as per clause 3.6

2.5 The Representative will charge client 20% gross of any compensation (including any amount being offset by the company towards outstanding loan/debt/arrears) recovered from the company as a part of the process.

Example: Based on the recovery amount of £1000

Our Fee: £1000 x 20% = £200.

(Company will also pay 8% Statutory Interest as a part of the overall compensation & this payment is subject to a deduction of basic income tax rate directly payable to HMRC by the company. Our fees are payable on the gross total amount of redress prior to HMRC’s deduction.)

2.6 Client instructs representative to bank any compensation in the representative client account, deduct applicable fees as per clause 2.5 and pay the balance to the client.

2.7 If compensation is received directly by the client, the client commits to pay representative a fee which is explained in clause 2.5 within seven working days of receiving the same.

The Client will:
3.1 by completing and signing the Letter of Authority give Representative his/her/their consent and full authority to deal with the Company on the Client’s behalf and to obtain relevant information from whatever source on a continuing basis;

3.2 deal promptly with every reasonable request by Representative for authority, information and documents and further instructions that Representative may from time to time require. Failure to do so will give Representative the right to terminate this Agreement forthwith and the Client will reimburse Representative its reasonable costs incurred in pursuing the Claim to the date of termination as per clause 3.6;

3.3 promptly inform Representative of any relevant matters affecting the Claim;

3.4 hereby assign his/her/their entitlement to any compensation to the representative. The Client hereby agrees to the company remitting the compensation to representative and for the representative to retain the Fee before paying the balance of the Compensation to the Client. Notwithstanding such agreement, should the compensation be paid directly to the client, the representative will invoice the client for the Fee which will become immediately due and payable by the client to the representative. If this fee is not paid in full within 28 days of the dated invoice it shall be treated as a breach of the agreement and the same is liable for a legal action under a court of Law and all the charges whatsoever incurred by the representative with be borne by the client.

3.5 give Representative the right to deal exclusively with the Claim unless otherwise agreed in writing by the Client and Representative;

3.6 subject to clause 3.7 below, if this Agreement is terminated by the Client for any reason, pay Representative either the Cancellation fee or, if the Claim has already been submitted by Representative and Representative proceeds with the Claim and the Claim is successful, the Fee or the Cancellation fee, whichever is the greater. The Cancellation fee is the reasonable costs incurred for the work undertaken in pursuit of the claim by Representative at the rate of £85.00 per hour or part thereof;

3.7 if the Client terminates this Agreement and Representative proceeds with the Claim, if the Claim is unsuccessful and no Compensation is payable to the Client, the Client will not be liable to pay the said Cancellation fee referred to in clause 3.6 above or any monies whatsoever in respect of the Claim;

Representative will:
4.1 rely on the information and documents provided by the Client to Representative as being true, accurate, and complete. The representative will not audit, test or check such information or documents except where it is under a legal obligation to do so;

4.2 use its reasonable endeavours to obtain the maximum Compensation for the Claims which are pursued;

4.3 accept no liability for an unsuccessful Claim or for compensation paid to the Client;

4.4 promptly notify the Client if the Claim is not to be pursued. It is at Representative sole discretion to decide whether to proceed with the Claim at any time during the claims process, but Representative must act reasonably in taking any such decision;

4.5 promptly notify the Client of the outcome of the Claim;

4.6 preserve confidentiality, including the Client’s personal information (even when this Agreement has terminated, and the Client is no longer a client), save as expressly or implicitly authorized to the contrary including where disclosure is made at the Client’s request or with the Client’s consent in relation to pursuing the Claim or where otherwise required by law.

5.1 Representative accepts no liability for any loss suffered by the Client by entering into this Agreement and specifically if no Compensation is paid to the Client by the Company. Any claim by way of consequential damage arising out of any act or omission or commission by Representative is specifically excluded.

5.2 Client is/are aware that the client could complain directly to the Company at no cost, with the ability to take matters further with the Financial Ombudsman Service yet still wishes to pursue your complaint via Representative

5.3 Representative is regulated by the Claims Management Regulator in respect of regulated claims management activities; our authorization number is CRM27379.

Data Protection
6.1 The Client will offer all data as required, and to the best of their knowledge, this data shall be truthful.

6.2 The Representative shall store and use this data for the purpose or this claim and were instructed to do so pass the data on to the company, or any of its representative.

6.3 The client can anytime contact the representative and request details of how and where the data is stored.

6.4 The representative may offer this data to a Court of Law or Law Enforcement office should they be requested to do so.

Cancellation and Complaint
7.1 The client shall have 14 days cooling off period from the date of signing of the declaration, in which they can cancel this agreement without any cost and obligation.

7.2 All cancellations must be made in writing to Advance Financial Consultants Limited, Sceptre House, 75-81 Staines Road, Hounslow, Middlesex, TW3 3HW

7.3 Should the client terminate the contract for any reason or execute their own claim against the company (Whether they compensation or not) outside the 14-day cooling off period, the client shall pay to the representative as per Clause 3.6.

7.4 If, at any time client is unhappy with our conduct or decisions you must put your concerns in writing to Advance Financial Consultants Limited, Sceptre House, 75-81 Staines Road, Hounslow, Middlesex, TW3 3HW

Governing Law
8.1 This Agreement shall be subject to the laws of England and Wales