4.1. Agrees to pay the Company a Fee of 20% plus Vat (20%) which is a total of 24% on any amount of compensation recovered as a refund from the Lender Institution in respect of the represented claim for mis-sold PPI (Payment Protection Insurance). (Please see fee structure on page 5)
4.1.1 Agrees that where a Lender offers redress (upholds complaint) the client shall make payment 3 days after receiving monies from the Lender. (The Company will however contact the Client within a suitable timeframe to discuss the fee(s) and payment(s) once the claim is upheld)
4.1.2 Agrees that where a Lender Institution holds a current and active credit agreement, the compensation pay out may be off set against that active agreement and may not result in a cash pay-out.
4.1.3 Agrees that where the compensation payment reduces the outstanding credit amount and does not offer a lump sum pay out, the fees will still be applicable and payable within 3 days of settlement.
4.1.4 Agrees that the Company shall be entitled to charge after 14 days of the invoice being overdue a late payment fee of 5% per annum (accruing daily) above the base rate of National Westminster Bank on any amount due (and unpaid) from the Client to the Company.
7.2 Where the Client cancels the agreement within 14 days of signing the Terms and Conditions, there will be no fee payable. After the period of 14 days from the date of signing the Terms and Conditions the Client will be liable to pay a fee to the Company and the fee will be disclosed in an invoice to the Client and shall be payable within 14 days of any such fee being imposed/date of the invoice; the fee will be calculated on basis of work undertaken, for the amount of £45.00 per billable hour.
Claims Advice Bureau (UK) Limited are Authorised and Regulated by the Financial Conduct Authority FRN: 837876, Regulation recorded at www.register.fca.org.uk.