Our Service Agreement

SERVICE AGREEMENT
‍ This document sets out how we will deal with you inthe provision of services for Credit Broking. 
‍Authorisation
‍Lendaline Business Finance Ltd (company registerednumber 14064342) is a finance brokerage established since 2022. 
‍Lendaline Business Finance Ltd will be acting as a Credit Broker on your behalf and is not a lender.
‍Lendaline Business Finance Ltd is an AppointedRepresentative of Crystal Business Finance Ltd who are Authorised and Regulatedby the Financial Conduct Authority.  Crystal Business Finance Ltd areentered on the Financial Conduct Authority’s register under FRN653671. Lendaline Business Finance Ltd is registered with the Financial ConductAuthority under FRN975936.  To view both entries please visit https://register.fca.org.uk/s/ orby contacting the FCA on 0800 111 6768. Lendaline is a member of the National Associationof Commercial Finance Brokers (NACFB).  We adopt a strict Code of Practiceand Minimum Standards set by the Association.  You can check ourmembership status by contacting the NACFB on https://www.nacfb.org/ Our services
‍We will endeavour to act in your best interests atall times.  We will source borrowing facilities from the market that webelieve are suitable to the requirements you disclose to us. When the preferredoption has been agreed, we will provide you with information about theborrowing facility and the provider of this to ensure you understand yourresponsibilities and commitments before proceeding.
 Scope of service
‍ We source funding from a selected panel of over 100lenders, spanning high street bank-owned finance houses and independentcommercial sources aimed at specific industries or customer profiles.  Lendalinehas no connection, particular allegiance, bias or commercial preference for anyparticular finance source. Our experienced team will look to arrange anddeliver a finance package to suit your circumstances, needs and requirements. 

Please ask for details of the panel of lenders weuse if you require this information. 

In this role we are doing no more than effecting anintroduction between You and the lenders to enable you to choose a financeproduct which, in your sole opinion, is suitable for you.  We are not youragent or otherwise acting on your behalf and there is no duty upon us toprovide you with impartial advice, information or recommendations.
 Data Protection
‍ Any information that you provide us with in thecourse of your application for finance will be kept securely in accordance theterms of the Data Protection Act (Lendaline are registered under No. ZB336658).  The information we collect will be only whatis necessary and specific to your application and will only be kept for as longas necessary.  You may make an application in writing to see any information we hold on you. 

You will be asked to provide photo ID and proof ofaddress.  You will also need to sign our Data Protection Authority givingus permission to search you.  Permission to search will be required fromall directors and beneficial owners of your business. 

When we provide services to you we will need togather information about your personal circumstances. The information youprovide to us will be subject to the Data Protection Act (the “Act”). Bysigning our Data Protection Authority you consent to us or any companyassociated with us processing, both manually and by electronic means, yourpersonal data for the purposes of providing advice, administration and management. 

“Processing” includes obtaining, recording orholding information or data, transferring it to other companies associated withus, lenders or statutory, governmental or regulatory bodies for legitimatepurposes including, where relevant, to solicitors and/or other debt collectionagencies for debt collection purposes and carrying out operations on theinformation or data. 

Our Privacy Notice is issued as a separate document. 

For processing of data to be lawful under GDPR Lendaline use;
a)            Consent: theindividual has given clear consent for Lendaline to process their personal datafor a specific purpose.
b)            Contract: theprocessing is necessary for a contract Lendaline have with an individual, orbecause they have asked you to take specific steps before entering into acontract.
c)            Legal obligation: theprocessing is necessary for Lendaline to comply with the law (not includingcontractual obligations).
d)            Legitimate interests:the processing is necessary for Lendaline’s legitimate interests of a thirdparty unless there is a good reason to protect the individual’s personal datawhich overrides those legitimate interests. 

In order to provide services to you we may berequired to pass your personal information to parties located outside of theEuropean Economic Area (EEA) in countries that do not have Data Protection Lawsequivalent to those in the UK.  Where this is the case, we will takereasonable steps to ensure the privacy of your information. 

We may also contact you or pass your details toother companies associated with us to contact you (including by telephone) withdetails of any other similar products, promotions, or for related marketingpurposes in which we think you may be interested. 

If at any time you wish us or any companyassociated with us to cease processing your personal data or sensitive personaldata, or contacting you for marketing purposes, please contact Guy Abbott on 07850170966, guy.abbott@lendaline.co.ukor in writing to Lendaline Business Finance Ltd, SuiteF1 Gemini, Linford Wood Business Park, Sunrise Parkway, Milton Keynes, MK14 6LQ. 

You may be assured that we and any companyassociated with us will treat all personal data and sensitive personal data asconfidential and will not process it other than for a legitimate purpose.  

Steps will be taken to ensure that your informationis accurate, kept up to date and not kept for longer than is necessary.Measures will also be taken to safeguard against unauthorised or unlawfulprocessing and accidental loss or destruction or damage to the data. 

Subject to certain exceptions, you are entitled tohave access to your personal and sensitive personal data held by us. You may becharged a fee (subject to the statutory maximum) for supplying you with such data.
 The process
‍Once we have obtained all the necessary informationfrom you, we will approach lenders appropriate to your needs and circumstanceswith a view to obtaining an offer of finance.  We may secure more than oneoffer of finance.  When an agreeable offer is received you will be askedto sign that particular lender’s finance documents and then, within a specifiedtime frame, the funds will be transferred to the appropriate party. 

Should any offer of finance wearrange require a personal guarantee or indemnity, we may also be able toarrange an insurance policy to reduce your liability. Please ask your Lendalinecontact.
  Our charges
‍ Lendaline does not charge fees to customers that fall underregulation by the Financial Conduct Authority. For clients that fall outside of regulation we may charge a feedepending on the complexity or challenging nature of your circumstances.  This fee is not refundable as it is to coverour time and expertise in assisting with your enquiry. 

If a fee is agreed, it is payable within 7 days of the date of our invoice. 

You do not have to accept any finance offer sourcedby us on your behalf.
‍Client acknowledgement
‍ You acknowledge that: 

You have been advised to seek such independentadvice as you consider necessary. 

In consideration for the work and expertise we put intofinding you a finance deal we will receive a Commission from the financecompany assuming you proceed with the finance.  For the avoidance of doubt any payment ofCommission is subject to the terms of our arrangements with the lender who paysthat Commission and may be subject to refund upon client early settlement,default or fraud. Different lenders pay different amounts depending on thelender, product or other permissible factors which will always be disclosedupon request.  

For transparency we work with the following commissionmodels: fixed fee, fixed rate of commission, percentage of the amount you borrow, rate for risk (this is based on the risk profile of the proposal).Under some commission models we operate under, the more that you pay to thelender, the more we may receive by way of commission. 

By signing a Commission Disclosure Document you areconfirming that you have no objections to us receiving this commission.   

We will look to disclose where we will benefit from any feesfrom the lender (for example but not limited to commission and administrationfee shares) and disclose the existence, along with the existence, nature,calculation and amount of any Commission within the Commission Disclosure Document. 

You are aware that we receive a commission from a lender forintroducing you to them and you have no objections to us receiving thisamount.  If you wish to receive anyfurther information concerning the commission paid to us by the lender, pleaselet us know in writing. 
 Payment of fees – If any Please note: 

If billed a direct fee (for commission only), Crystal Business Finance Ltd (Lendaline’s Principal) will issue an invoice directly to you the client. 

Payment should only be made to the following bank details: 

Account number – 00493445
Sort code – 04-13-76 
‍
Crystal Business Finance Ltd cannot accept responsibility for any fee payment other than in this manner.
‍Lendaline are not tax advisors, if you requiretaxation advice, please refer to your accountant or specialist advisor, thisincludes VAT enquiries. 
‍Facilities we may be able to offer:
‍ Below is a brief overview of the facilities whichmay be available to you.  Please do not rely on these general descriptionsbut refer to the specific information in the finance documents you sign.
 Hire purchase/lease purchase
‍You will pay an initial deposit followed by regularpayments until the end of the agreed period.  You will pay interests onyour payments and will own the equipment at the end of the agreement providingyou have paid all the monies due.
 Conditional Sale
‍This is similar to hire purchase but you areobligated to take possession of the goods at the end of the term of theagreement.
 Lease
‍This is a long-term hire agreement at the end ofwhich you will not automatically take legal title to the goods acquired. You will make payments for the primary period. All payments made under a leaseagreement attract VAT at the prevailing rate.  Once the primary period hasended the equipment can be sold.  You may receive a share of the proceedsor you may continue paying reduced secondary rentals but you will never own theequipment directly. 

There are several variants of a finance leaseproducts.  Please refer to your Lendaline representative for the specificterms of the lease document you are considering.
 Commercial Loan
‍This is a loan obtained typically to fundexpenditure or cover project or operation costs which the company may otherwisebe unable to afford.
 Invoice Finance
‍Invoice Finance provides cash flow to a business byreleasing value tied up in outstanding customer invoices. 
‍Trade Finance
‍Trade finance is used when financing is required bybuyers and sellers to assist them with the trade cycle funding gap. Buyers andsellers can also choose to use trade finance as a form of risk mitigation. 
‍Stock Finance
‍Stock finance is a mechanism which releases workingcapital from stock such as finished goods or raw materials, which works bylenders purchasing stock from a seller on behalf of the buyer or fundingagainst inventory.
 ABL
‍Asset-based lending (ABL), generates financeagainst a company’s existing assets including stock, debtors, plant, machineryand property. The arrangement is usually in conjunction with debtor finance,factoring or invoice discounting.
‍What to do if you can’t make repayments
‍ Please contact Lendaline immediately and we willseek to discuss your circumstances with the provider of your financeagreement.  Please note that assets are at risk of repossession andpersonal guarantees (if provided) may be enforced which could result inpersonal financial loss and/or loss of personal assets.
‍ Complaints And NACFB Code Of Conduct 
‍Our aim is to provide you with a professional andconfidential service that delivers the highest possible standards. However,there may be occasions where you feel this has not been achieved.Should you wish to make a complaint about anyaspect of the service we provide to you, a summary of our internal complaintshandling procedures for the reasonable and prompt handling of complaints isavailable on request.  If you cannot settle your complaint with us, youmay be entitled to refer it to the Financial Ombudsman Service atwww.financial-ombudsman.org.uk or by contacting them on 0800 023 4567. 

If you are not happy with the service you havereceived from Lendaline Business Finance Ltd in the first instance you shouldcontact: 
‍The Directors at Crystal Business Finance Ltd How to get in contact:Phone:                 0121 506 9060
Email:                    management@crystalbf.co.uk
In writing:            Crystal BusinessFinance Limited, Blythe Valley Innovation Centre, Central Boulevard, Blythe ValleyPark, Solihull, West Midlands, B90 8AJ 

We will acknowledge receipt of your complaintpromptly and provide a written summary of our findings and conclusion by theclose of 3 business days following receipt.  If your complaint cannot beresolved within 3 business days, we will ensure that you are regularly keptinformed of our progress with regards to the investigation. 

We will endeavour to send you our final decisionletter within 8 weeks of your complaint.  If we are unable to complete ourinvestigations within 8 weeks, we will send confirmation of this in writingalong with an explanation as to why we have been unable to complete ourinvestigations within this timescale.  We will confirm when you can nextexpect contact from us.  At this stage, you may be entitled to refer yourcomplaint to the Financial Ombudsman Service. 

Also, if you have received our final decisionletter and are not satisfied with the response you may refer your complaintdirectly to: 
‍The Financial Ombudsman Service.They are open:  Monday to Friday – 8am to 8pm
Saturday – 9am to 1pm
0800 023 4567
callsto this number are normally free for people ringing from a “fixed line” phone –but charges may apply if you call from a mobile phone
0300 123 9123
callsto this number are charged at the same rate as 01 or 02 numbers on mobile phonetariffs 

These numbers may not be available from outside theUK – so please call +44 20 7964 0500 if calling from abroad. 

Email:                 complaint.info@financial-ombudsman.org.uk
In writing:          The Financial OmbudsmanService, Exchange Tower, London E14 9R
‍National Association of Commercial Finance Brokers– The Code
‍ The Broker agrees to act on behalf of the Client inaccordance with the terms of the Code of Practice of the National Associationof Commercial Finance Brokers (NACFB) as amended (the Code) and a copy of theCode is available on request from the Association or on the NACFB website www.nacfb.org
‍ The Broker will investigate and deal with anycomplaints raised by The Client concerning the services provided under TheAgreement promptly and reasonably but if The Broker is unable to resolve anycomplaint to The Client’s satisfaction the Code of Practice stipulates theprocedures available to The Client including NACFB Mediation. 

If The Client is unhappy with The Broker’s responseto their complaint, and the complainant falls within the regulated activities,they may be able to complain to the Financial Ombudsman Service at: 
‍
Address: Financial Ombudsman Service, ExchangeTower, London, E14 9SR.
Contact: 0800 0234567, 0300 1239123.
Website: www.financial-ombudsman.org.uk 

The Ombudsman will be able to confirm whether hecan look at the complaint. If The Client is entitled to make a complaint to theOmbudsman, then they are not bound to follow any alternative procedure and canmake their complaint to the Ombudsman within the timescales set down by therules applicable to that scheme, details of which will be provided to theClient by Us on request. 
‍Termination
‍ This agreement continues for a period of 3 yearsfrom the date we first introduce you to a Lender at which stage, should you bythen have not entered into a finance agreement, it will lapse.  Should youthen wish to continue receiving our credit broking services you may requestthat we renew it. 
‍Broker Terms and Conditions Your duty to Us
‍The Client agrees to be act with utmost good faithin the provision of information to The Broker. The duty is continuous andapplies to all the information the Client provides, whether The Broker hasasked for it or whether The Client has provided it voluntarily. The Clientagrees not to withhold information from the Broker.
 Exclusions

‍The Client accepts that The Broker shall have noliability for any economic loss (whether direct, indirect or consequential)insofar as it relates in any way to loss of business, loss of Client data,interruption of business or loss of profits or goodwill because of the mannerof performance by The Broker of any obligations arising under TheAgreement.  This exclusion of liability will not, however, otherwiseaffect any statutory rights of The Client.
 Choice of Law
‍The Agreement shall be construed in accordance withEnglish Law and the parties irrevocably agree to submit to the exclusivejurisdiction of the English Courts.
 Your consent
‍We intend to rely on this document for the serviceswe provide to you and request that you provide your agreement to the DataProtection section above.  For your own benefit and protection, you shouldread these terms carefully before signing them.  If you do not understandany point, please ask for further information.  
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