Business Finance - Initial Disclosure Document

This terms of business letter sets out the terms and conditions under which we conduct our business:

Regulation

Charles & Dean Finance is a trading name of Charles & Dean Ltd who are an independent finance brokerage authorised and regulated by the Financial Conduct Authority for Consumer credit broking services. Our Firm Reference Number is 653592. We are a Credit Broker not a Lender. You may check this information on the FCA’s Register by visiting: www.fca.org.uk/register or by contacting them on 0845 606 1234. We also provide non-regulated finance options for businesses, sole traders, High Net Worth (HNW) individuals (by way of exemption) and other commercial entities which are not regulated by the FCA. Consumer protection laws do not govern these transactions. 

Our Services

Charles & Dean Finance work with a select panel of lenders to find a potentially suitable arrangement for your consideration. We will present to you the products, services and agreements available to us, which we believe achieve the most suitable and appropriate outcome for you and based on the information you have provided. It is important that you read all documentation given by us, or the lender carefully. We do not provide financial advice or make a recommendation, but will provide all relevant information for you to make an informed decision. 

What Products We Offer

Using the lenders on our panel, we offer a wide range of Business Finance products including: Business Loans, Invoice Financing, Supply Chain Finance, Cash Flow & Working Capital Solutions, VAT & Tax Loans and Revolving Credit Solutions. We can also offer ancillary services on an introductory basis through our affiliated partners which include business credit score building and Personal Guarantee insurance. 

Quotations

Any quotation we provide is based on the information available at the time and the pricing provided by our panel of lenders. All quotations are subject to final underwriting and the lender’s full assessment of your application. This means the lender may amend or withdraw a quotation once they have completed their review of your circumstances and supporting information. Lenders may carry out credit checks as part of this process, which can include both soft and hard searches depending on the stage of the application. Full details of how your data is used will be set out in the relevant lender’s Privacy Notice and Terms and Conditions. 

What Will You Have To Pay For Our Service?

In providing our services, we will receive commission from lenders upon the successful arrangement of finance. The amount of commission may vary depending on the lender, product chosen and your individual circumstances. In some cases, we may have discretion to vary the commission we receive from a lender under our agreed commercial arrangements. Where the commission payable for your transaction is lower, or the work involved is more complex, we may agree a separate broker fee with you. In all cases, the nature, existence, amount and calculation of any commission we receive as a result of your introduction, or broker fee that is payable will be disclosed to you in good time, and agreed before you enter into an agreement with the lender.

We do not receive or request any payment, whether commission or fees, until the finance has been successfully arranged and funds have been released or made available to you. Lender commission may affect the interest rate, cost of credit and overall amount payable. If you were introduced to us by an Appointed Representative, Introducer Appointed Representative, or supplier with whom we have a commercial relationship, we may pay them a commission for that introduction.

Conflicts of Interest

 If through exceptional circumstances Charles & Dean Ltd or any of its Directors or other customers has a material interest in business you ask to be transacted for you, we will make you aware of the conflict of interest and we will obtain your consent before your instructions are carried out. A copy of our Conflicts of Interest Policy is available on request. 

Treating You Fairly

 Our approach is guided by the Financial Conduct Authority’s Consumer Duty, which requires firms to act to deliver good outcomes for customers. We are committed to delivering good outcomes for our customers. This means we will: 

• Act honestly, fairly and in your best interests at all times
• Provide clear, fair and not misleading information to help you make informed decisions
• Ensure any products or services we offer are appropriate
• Be transparent about how we are paid, including any fees or commission
• Handle your personal information securely and respect your confidentiality
• Deal with any concerns or complaints promptly, fairly and impartially

Your Responsibilities

We rely on you the customer for the accuracy of statements, information and representations notified to ourselves. Please ensure all the information you provide to us is fully up to date, accurate and complete and does not omit anything which could be material to your application. Lenders will assess your suitability and affordability so it is important that you make us aware of any future changes that may affect your ability to make any payments detailed in your agreement. If there is any reason or concern you have that could affect your ability to fully understand (the product) or commitment you are entering into, you should consider very carefully whether you need further time to consider this application or whether you would like a family member or friend to help you to make your decision. Please tell us if this is the case.

Complaints

If you wish to register a complaint please contact Simon Grace, Director in writing at Charles & Dean, 2 The Granary, Copthill Farm Enterprises, Deeping Road, Uffington, Stamford, Lincolnshire, PE9 4TD or by telephone on 01780 763836. Our internal complaints procedure is available on request and via our website www.charlesanddean.com. You may be entitled to refer any complaint against us to the Financial Ombudsman Service. The Ombudsman is a free and impartial service for resolving disputes between consumers and financial services institutions and their contact details are set out below: 

• By telephone: 0800 023 4 567 or 0300 123 9 123
• By email: complaint.info@financial-ombudsman.org.uk
• By post: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
• Website: www.financial-ombudsman.org.uk

Data Protection and Confidentiality

We are registered with the Information Commissioners Office (ICO), registration number ZA113861 and you can check this via www.ico.org.uk . To consider and potentially approve your application, we will share your information with our lending panel. In doing so, these lenders will supply your personal information to Credit Reference Agencies and the Credit Reference Agencies (CRAs). Lenders do this to assess credit worthiness, product suitability, check your identity, manage your account, trace, and recover debts and prevent criminal activity.

If you enter into an agreement with a lender, they will continue to exchange information with the CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. Your data will also be linked to the data of your spouse, any joint applicants, or other financial associates. The personal information you have supplied may also be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and verify your identity. If fraud is detected, you could be refused certain services, finance or employment. For further details of how we use your information, your rights and a copy of our privacy policy, this can be located via www.charlesanddean.com/privacy-policy.

Are We covered by the Financial Services Compensation Scheme (FSCS)?

Your transaction may be covered by the FSCS for regulated transactions only. The FSCS is the UK's statutory Deposit insurance and investors compensation scheme for customers of authorised financial services firms. FSCS exists to protect customers of financial services firms that have failed. If the company you’ve been dealing with has failed and can’t pay claims against it, the FSCS may be used to pay compensation. You can find out more about FSCS at www.fscs.org.uk