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Vendor Finance Terms of Business:

Vendor Finance Ireland Limited t/a Asset Finance Ireland (VFI) is the full name of the firm and the address is 35 Wolfe Tone Street, Sligo. These Terms of Business set out the general terms under which our firm will provide business services to you. They also contain details of our regulatory and statutory obligations and the respective duties of both the firm and you in relation to such services.

AUTHORISED STATUS:

VFI is regulated by the Competition and Consumer Protection Commission to act as a credit intermediary under the terms of the Consumer Credit Act, 1995.

CODES OF CONDUCT:

VFI is subject to the Central Banks Consumer Protection Code, Minimum Competency Code and Fitness and Probity standards which offer protection to consumers. These codes can be found on the Central Banks Website www.centralbank.ie

OUR SERVICES:

As an independent professional financial services firm, we will consider more than one product provider and offer advice on which is most suitable for you. We will act as your agent in any dealings with product providers and are responsible for any advice which we may give to you. This means we will research the market place and recommend the best product provider to suit your needs and circumstances.

COMMUNICATING WITH YOU:

We shall act on instructions given by you. We can accept instructions over the telephone, by e mail or in writing, which will not take effect until actually received by us. If we accept instructions over the telephone, we may act on them before we receive confirmation in writing, unless you specifically tell us not to. We shall keep you informed about transactions arranged for you. We may also send contract notes/finance agreements to you by post or e mail. Any change in these instructions should be in writing.

To enable us to provide a proper service to you, there may be occasions when we will need to contact you without your express invitation. For example, it may be in your interest to finance a particular asset and we would wish to be able to inform you of that fact. We therefore may contact you in such circumstances. We would, however, do so only between 9 a.m. and 7 p.m. on weekdays. We shall, of course, comply with any other restrictions you may wish to impose which you notify to us in writing.

DATA PROTECTION:

VFI is a Data Processor as defined in the Data Protection Act, 1988 and 2003. We may use, store or otherwise process personal information provided by you for the purposes of providing asset finance brokerage services, administering your account or for the purposes ancillary thereto, including without limitation, for the purposes of credit enquiries or assessments.

The information we hold about you is confidential and will not be used for any purpose other than in connection with the provision of services. The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. In accordance with the Data Protection legislation in Ireland you are entitled to a copy of the information we hold about you on computer, on payment of a fee which is capped by the Data Protection Commissioner of Ireland. You should let us know if you think any information we hold about you is inaccurate so that we may correct it.

Your business may have been referred to us from a vendor relationship and as such we may advise the Vendor of the status of your finance application in order to obtain invoices and additional information to process these proposals.

RECORD RETENTION:

In accordance with legal and regulatory requirements, we will maintain your records for a minimum period of six years including the period following the termination of any relationship between us. This period may be extended by force of law, regulatory requirements or agreement between us.

ADVISER REMUNERATION:

When you meet with VFI to discuss your financial needs there is no direct charge on the client for the first two hours. Each subsequent hours work is charged at a rate of €150 per hour or any such fee agreeable between the customer and VFI. If business is conducted with VFI as a result of advice given and the firm is otherwise remunerated this fee will be not be chargeable. We will notify you in advance of any fee chargeable.

CONFLICTS OF INTEREST:

It is the policy of our firm to avoid conflicts of interest in providing services to you. We have in place arrangements to manage conflicts of interest that arise between ourselves and our clients and between different clients and suppliers. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any service. If you have not been advised of any such conflict you are entitled to assume that none arises.

COMPLAINTS PROCEDURE:

If you would like to talk to us about how we could improve our service to you, or if you are unhappy with the service you are receiving please let us know. The company has a written procedure in place for the effective consideration and handling of complaints. Any complaints should be addressed in writing to the Managing Director, Vendor Finance Ireland Limited t/a Asset Finance Ireland, 35 Wolfe Tone Street, Sligo.

Each complaint will be acknowledged by us within 5 working days of receipt, updates will be advised in intervals of not more than 20 working days, we will endeavour to resolve the complaint within 40 business days and findings will be furnished to you within 5 working days of completion of the investigation. In the event that you are not entirely satisfied with the firms handling of and response to your complaint, contact may be made with the Competition and Consumer Protection Commission and ultimately you have the right to complain to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. A full copy of our complaints procedure is available on request.

DISCLOSURE OF INFORMATION:

Any failure to disclose material information may invalidate your finance application and render your application void. VFI may receive commission and other payments from the product provider to whom proposals are transmitted.

Where we receive commission this forms part of the remuneration for services provided. We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance exceeds 2 hours without commission payable. VFI may also charge you a fee for the services provided in cases whereby commissions would not be payable in respect of business completed or for payment in respect of complex cases to reflect value and specialist skills. If we do this we will provide you with a written estimate of this in advance of providing any business service. This will be dealt with on a case by case basis.

EXCLUSION:

Nothing in this agreement shall impose on VFI any obligations to execute or undertake any transaction on your behalf and we may refuse to execute any transaction at our sole discretion

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