Terms of Business (Web Copy For Information Only)
- 1. Parties
Impakt Claims is a trading style of The Claims Experts Ltd a Company registered in England & Wales which has a Registered Office atMilitary House, 24 Castle Street, Chester, England, CH1 2DS (Us, We, Our)
The Claims Experts Ltd is registered with the Information Commissioners Office for Data Protection purposes with registration number ZA477153. This agreement is formed between The Claims Experts Ltd and, You, Our Customer.
The Claims Experts Ltd is authorised and regulated by the Financial Conduct Authority – FRN 836692
- 2. Purpose
When signed,theseTerms of Business form a contractual agreement between the parties detailed in Section 1 whereby:
The Claims Experts Ltd will represent You in making claim(s) against Banks and Financial Institutions(s) who have, in our estimation, failed to provide the necessary duty of carein protecting you from fraud and/or scams.
You will remunerate The Claims Experts Ltd for providing this service, on a No Win No Fee basis as detailed in clause 8 of this agreement.
- 3. Pre-Contractual Information
Before signing ourTerms 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 impaktclaims.co.uk at any time, or if You prefer You can request that this document is emailed to You.
- 4. Making Your Claim
You instruct and authorise Us to make a claim on Your behalf. You agree to Us contacting the 3rd parties that We need to in order to make and manage that claim. You agree to Us sharing with them the information You have provided to Us and also collecting and processing the information We receive from them.
During the process, we will always attempt to contact You when a lender has made an offer of settlement to ensure it is fair and appropriate. We will, however, need to make decisions on the best way to proceed and You give Your authority for Us to use Our skill and judgement to make such decisions on Your behalf, including reaching a full and final settlement where we judge that to be the most appropriate conclusion. Clients may challenge decisions where required byeither i) revisiting decisions with the lender or ii) escalation to the Financial Ombudsman Service.
- 5. Your Obligations
5.1 During the claim You will be asked to provide Us with information about Yourself, Your circumstances, and Your situationover the period of the claim. You must ensure that this information is entirely accurate and honest to the best of your knowledge. Knowingly providing fraudulent or incorrect information at any time may jeopardise Your claim and will put You in breach of this agreement.
5.2 You will, at the start of the claim, be asked to provide Us with documents relevant to the claim. This includes as a minimum a signed letter of authority and any of the following which you hold or can acquire: historical bank statements, lender emails to you and/orlender loan statements. This will enable us to make Subject Access Requests to lenders on your behalf.
5.3 You will provide Us with any of this information which We reasonably request from You in order to pursue the claim. As a minimum, the details of the bank/provider from where funds were withdrawn, (including their name, the approximate amount lost, the date(s) over which the scam/fraud occurred, and the purpose given for the transfer of the lost funds)
5.4 We may ask you to complete a Financial Ombudsman Service consumer questionnaire form so that your case can be escalated to the Financial Ombudsman Service where we disagree with the initial response from the lender. You will sign and return this form on receipt. You are required to complete this form within a reasonable timeframe, suggested as 7 days.
5.5 You will read any documentation that We, or the lender, sends You and retain these documents in Your safekeeping.
5.6 You will advise Us immediately of any changes to the details You have provided or if You realise that the information previously provided has changed or contains errors.
5.7 If an offer of compensation is sent directly to You, You will notify Us of this within 48 hours, unless We notify You that We have received this information too. (This will allow us to assess the initial response to ensure it’s appropriate and fair).
5.8 You authorise the bank(s)to make payment of any compensation directly to Us. We will then deduct Our fee and forward the balance to You.
5.9 You agree, unless a legal or statutory requirement dictates otherwise, to receive all written communications from Us by email to the email address supplied by You. We may also use the post to send such communications.
5.10 You will not, at any time throughout the term of this agreement, withdraw from any lender/bank(s) our authority to act on your behalf and/or work with them, without first cancelling this agreement in accordance with clause 8.
- 6. Our Obligations
6.1 We will manage Your claim with reasonable care and diligence to ensure that where there has been a case of negligence by Your Bank(s). We maximise the possibility of You getting the refund you are entitled to. Where we feel it is advisable to accept a reduced full and final offer from the lender, we will contact you advising of the reasons for this and seek to discuss the matter before determining the next steps to take.
6.2 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 these in, in order to maximise the claim value where this would result in inaccurate information being entered. All answers, statements or declarations provided are Your responsibility.
6.3 We will keep You updated on the progress of Your claim.
6.4 If We do not feel that the claim has sufficient merit to be continued, We will advise You of this. We will then release You from this agreement to allow You to proceed with the claim yourself if you wish. (Please note, if We do this, only the specific claim is released from this agreement. Any other cases not notified under this clause will still be pursued by Us and a success feemay be payable).
6.5 We have an obligation to ensure that We 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. We will provide details to You onwhy We are unable to continue with the claim.
- 7. Payment – No Win No Fee*
7.1 All claims are undertaken on a No Win No Fee basis (*i.e., unsuccessful claims will not incur any costs to customer. Only successful claims with compensation agreed by thebankwill become eligible for payment of fees).
Our normal fee is dependent on the level of redress we manage to recover for you and is in line with FCA regulations.
If we are successful in representing your claim, we take a percentage of the final compensation that you’ve been awarded. The percentage (or fee) is dependent on the amount of refund being offered, with the maximum percentage being 30% for a refund up to £
1499. Even then, fees are capped at a maximum value depending on which refund band the claim falls in.
The table below illustrates, the fee percentages by refund band and the maximum fee chargeable for each band.
|Band||Redress||% Charge||Maximum charge (including VAT)|
|1||£1 – £1499||30% + VAT||£504|
|2||£1,500 – £9,999||28% + VAT||£3000|
|3||£10,000 – £24,999||25% + VAT||£6000|
|4||£25,000 – £49,999||20% + VAT||£9000|
|5||£50,000+||15% + VAT||£12,000|
Where the claim results in a refund and balance write-off, the two are combined to calculate the total value of the claim. The fee payable then is the lower of the percentage of the total claim value, 75% of the refund amount or the maximum chargeable for that claim band.
Example a) If we succeed in obtaining Compensation of £1,000, Our fees would be £360. (30% of £1000 = £300 plus VAT of 20% = £60 giving a total of £360). You would therefore receive £640.
Example b) If Compensation of £1,100 is awarded but £800 is used to reduce Your outstanding balance, the fee would be £225 (75% of the cash amount of £300, being £225, which is less than 30% + VAT on the overall £1100 award where the fee would equal £396). You would then receive £75. (£300 minus our fee of £225).
7.2 Where an offer of compensation solely relates to a write off (balance reduction) of outstanding debts rather than a ‘cash in hand’ payment, we do not charge a fee.
7.3 If we are representing you on multiple claims, either with the same Bankor across multiple different Banks, we reserve the right to pay our fees owed by you on one claim with ’cash in hand’ received from another.
7.4 You authorise the lenders to pay all compensation due to you directly to Us. We will then deduct Our fees and forward the balance to You within 3 working days.
7.5 Where a compensation payment is made directly to You by the lender You must notify Us immediately. We will provide You with an invoice which must be paid upon receipt of the funds within 24 hours.
7.6 Due to the diverse and complex nature of the work carried out, at times we may feel that your particular case will benefit from referral to a Third-Party Solicitor, more specialised in larger and more complex complaints. If that is the case, the solicitor, who also work on a No Win: No Fee basis will contact you to discuss their terms of business.
- 8. Cancellations
8.1 You have a 14 day ‘cooling off’ period from the day that You sign this agreement in which to cancel it without charge. If You choose to do this then:
8.2 We will cease all work on Your claim(s)
8.3 We will notify all of the bank(s) that We have made contact with, that We are no longer managing Your claim(s).
8.4 We will not make any charges to You for the work already undertaken.
If the 14-day ‘cooling off’ period has passed You can still cancel the agreement at any stage, but will be liable to pay the following:
8.5 If the contract is cancelled AFTER the ‘cooling off’ period but BEFORE a compensation offer is received then We will charge a fee of £50 for each case that you wish to cancel to cover the cost of work undertaken up until that point.
8.6 If the contract is cancelled AFTER a compensation offer is received then the standard success fee outlined above in section 8 is payable. (This includes where the refund might be paid within the cooling-off period).
8.7 You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
8.8 Payment of cancellation fees is due within 7days of Us invoicing You for the cancellation fee.
8.9 If You decide that You do not want to proceed with Our services, You can cancel Your contract by any reasonable means including verbally or over the telephone by calling our telephone number 03339 965800, by email at email@example.com or by post at Our address:Impakt Claims, Pioneer House, Pioneer Business Park, North Road, Ellesmere Port, CH65 1AD.
8.10 The notice of cancellation must be sent by post or emailed to firstname.lastname@example.org
- 9. Breaching this Agreement
If you breach any clause in this agreement, thenthe 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 on 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 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.
- 10. Complaints
You have the right to complain about Our service at any time.
Acknowledgement of a complaint will be made by a company complaint handler within five business days of receipt, providing name or job title within the business, together with details of the business’s internal complaints handling procedures.
No later than eight weeks after receipt of the complaint, the following will be sent to the complainant:
- a final response (which must inform the complainant that they can complain to the Financial Ombudsman Service along with the details and timescales for doing so), or
- a response which explains that the business is still not in a position to make a final response, reasons for the further delay and indicates when it expects to be able to provide a final response; and also inform the complainant that they can complain to the Financial Ombudsman Service along with the details and timescales for doing so.
If You are still unhappy after We have responded, You have the right to refer the complaint to the Financial Ombudsman Service. Full details of Our Internal Complaint Procedure can be found at www.impaktclaims.co.uk. If You would like a copy sending to You, please contact Us and We will arrange this.
- 11. 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 Us.
Delays in the transmission or delivery of information or documentation caused by email service providers or the postal service.
Claims settlement amounts later found to be lower than the maximum achievable.
Failure of information or documentation sent between You and Us to arrive with the other party.
Any other matter which is outside of Our control.
Before you sign this agreement, you must read the terms carefully. You should 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.
By signing this agreement, you agree to your personal data being stored and processed in accordance with this policy.
Due to the diverse and complex nature of the work carried out, at times we may feel that your particular case will benefit from referral to a Third-Party Solicitor, more specialised in larger and more complex complaints. An example would be if you require advice on a Scam or Fraud that is either particularly high in value or complexity. We obviously don’t want to give you advice beyond our level of expertise that might in any way lessen our chance of achieving a successful outcome. We will always seek your express instructions before referring you to a third party. As part of the transfer, we will forward all documents we have received and any information we have gathered to make the whole process as stress-free as possible although you may be required to sign the Client Care Documents for the Law Firm which also operates entirely on a NO WIN NO FEE basis and who would only deduct a fee on successful recovery. You will never be asked for fees upfront. Fees are paid upon successful resolution of your case and do not hinder the prospects or the amount of compensation you may receive. We may receive a fee for any referrals to a third-party solicitor(s) and we are happy to advise you of any specific fees paid if you are referred to an external service provider upon request.