033 0010 2305 Castle Chambers 3rd Floor, 46 Worcester Place, Swansea, SA1 1JQ.

Terms of Engagement ("Agreement")

The Money Recovery Centre Ltd, trading as Fast PPI, Castle Chambers 3rd Floor, 46 Worcester Place, Swansea, SA1 1JQ.  is registered in England (Company No. 09167906) and is regulated by the Financial Conduct Authority Reference number: 830393; its registration is recorded on the website https://register.fca.org.uk/. This document sets out the Terms of Engagement for the appointment of Fast PPI to act for You.

In order to proceed with one or more potential claim/s, you will need to enter into a contract with us for the provision of claims management services in respect of your potential claim/s. You will need to complete and return a form of authority for each claim. On receiving your completed documentation we check it to make sure it is all in order. You may be contacted if we require further information from you. Relevant documents in relation to a particular claim are then requested from the lender. Once we have received the documentation from the lender a full assessment is made and we will inform you of our opinion as to whether your claim has reasonable prospects of success. If we feel you have a claim we will progress it on your behalf.

Definitions
a. “Claim(s)” means Your complaints and/or (but not limited to) claim(s) against the Company or Companies relating to the mis-selling of a payment protection insurance (PPI) policy or policies on any account with that Company, including unfair commission charges, or the application of unfair/unlawful charges to Your credit or debit cards or any related account with that Company.
b. “Claims Services” means investigating, preparing, submitting and negotiating Your Claim(s) to the Company once we have located PPI.
c. “Company” means the financial institution to whom the Letter of Authority is addressed, being the credit card, store card, loan, lender, bank, insurer or other entity that provided/sold the PPI policy and/or applied unfair/unlawful charges.
d. “Compensation” means any sums paid or given in respect of a settlement, goodwill gesture, policy refund, rebate or overdraft, including any interest payments and associated charges. For the avoidance of doubt Compensation also includes any sums used to reduce any outstanding balances.
e. “Cooling off Period” means 14 days from the date you inform us you would like to start the claim during which time You may cancel the Claim(s) free of charge.
f. “Fee” means the amount You will have to pay to Fast PPI for the Claims Services, as set out in clause 4.
g. “Instruction” means Your Instruction to us to commence the Claims Services contained within these Terms. Your Instruction is given once you have completed and returned the letter of engagement.
h. “Letter of Authority” means the document to be sent to the Company containing Your authority for Fast PPI to act on Your behalf.
i. “PPI/FOS/Lender Questionnaire” means the forms that have been filled out using information You have given during the PPI Check and/or Claims Services process which may be used by Fast PPI to refer Your Claim(s) to the Company and/or the FOS (see clause 3).
j. “Fast PPI” means The Money Recovery Centre Ltd, trading as Fast PPI, Company No. 09167906.
k. “Terms” means the Terms of Engagement (“Agreement”).
l. “You/Your” means the account/policy holder(s) whose details are set out in the Letter of Authority and who have appointed Fast PPI to act on their behalf.

1. Duration
a. The Agreement shall commence on the date you sign and return the engagement letter to Fast PPI and, unless terminated earlier in accordance with the terms of this Agreement, will continue until the earlier of:
i. Compensation is recovered for You by Fast PPI and You have paid the Fee, or
ii. Fast PPI have advised You in writing that it is Fast PPIs opinion that Your Claim is unlikely to succeed and Fast PPI decline to act for You.

2. Claims Services
a. These are the Terms on which Fast PPI agrees to provide the Claims Services and You agree both to be bound by them and to acknowledge them once we have received Your Instructions to proceed with Your Claim(s).
b. That You are aware that You could complain directly to the Company at no cost, with the ability to take matters further with the FOS or Court.
c. If Fast PPI identifies PPI on a policy or account Fast PPI will ask You to complete a Lender Questionnaire and will submit your claim to the Company. You provide Your Instructions by completing the ‘Authority to Submit Claim(s)’ form so that Fast PPI can submit your claim to the Company if PPI is identified.
d. If You do not return the Lender Questionnaire by post but complete it over the telephone You will still be bound by this Agreement.
e. The Lender Questionnaire is to allow Fast PPI to investigate the existence and merits of the Claim(s).
f. Once Your Instructions have been received Fast PPI has the right to deal exclusively with the Claim(s), unless otherwise agreed in writing by You and Fast PPI.
g. You will ensure that any information provided is accurate and true to the best of Your knowledge.
h. Where we believe that a PPI policy may have been mis-sold to You, we will submit a detailed Claim to the Company.
i. You will deal promptly with requests by Fast PPI for authority, information, documents or further requests that Fast PPI might make. You also give us permission to do a Credit Search on you for any Financial Related Products / Services you may have with a Credit Reference Agency.
j. You will inform Fast PPI promptly of any relevant matters affecting the Claim(s), such as direct contact from the Company.
k. Fast PPI will use reasonable endeavours to obtain Compensation for the Claim(s) pursued.
l. Fast PPI will notify You if Fast PPI decides not to pursue Your Claim(s) and cancel this Agreement under clause 5.
m. Fast PPI will notify You of the outcome of the Claim(s).
n. If the Claim(s) is successful for Compensation for a PPI policy, the policy will be cancelled and You are responsible for identifying a replacement policy if appropriate.
o. Where we have identified, you are under an IVA or other debt arrangement and we have decided to claim against the lender on your behalf, then any compensation you may receive from the lender may offset against your debt. Please speak to your IVA on this matter.
p. Where interest is included as part of the Compensation it will be taxable depending on Your personal tax status.
q. If Fast PPI have not been made aware of all situations, Fast PPI will not be liable to You whether in contract or tort for indirect losses which happen as a side effect of the main loss or damage and which are not foreseeable by You and by us, such as loss of profits or loss of opportunity.
r. You will not be liable for any Fees or charges if the Claim(s) is pursued and the Company pays no Compensation except where this Agreement is cancelled in accordance with clause 5, in which case a cancellation charge may be payable.
s. Fast PPI reserves the right to assign the Contract and all rights under it to a third party, provided that the party it assigns to undertakes to perform the contract in the manner set out in this agreement, and the Company may sub-contract to others all or any of its obligations. We will notify you 14 days prior to doing this and you will have the option to opt out during this time. The Contract is personal to the Client and is not assignable except to the personal representatives of the Client, save for a Claims representative appointed by the Company to handle the Clients Claims a person who is not a party to the Contract will have no rights pursuant to the Contracts (Rights of Third Parties Act 1999) to enforce the Contract.
t. Fast PPI’s total liability to You in respect of all other losses arising under or in connection with this Agreement, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the amount of any Compensation to which You are entitled for the Claim(s) in connection to which Fast PPI is liable unless those losses were foreseeable by both parties when the Agreement was signed.
u. Nothing in this Agreement shall limit or exclude Fast PPI ‘s liability for:
• death or personal injury caused by its negligence, or the negligence of its employees, agents or subcontractors;
• fraud or fraudulent misrepresentation; or
• breach of the terms implied by sections 49 to 52 of the Consumer Rights Act 2015.

3. Fast PPI’s Fees
a. If Fast PPI undertakes the Claims Services and is not successful in obtaining Compensation then You owe Fast PPI nothing.
b. If Fast PPI is successful in obtaining Compensation then You owe Fast PPI 20% of the Compensation plus VAT (24%). This means, for example: if Fast PPI succeeds in obtaining Compensation of £1,000, the Fee would be £200.00 plus VAT = £240.00. You would receive £760.00. If Fast PPI succeeds in obtaining Compensation of £15,000, the Fee would be £3,000 plus VAT = £3,600. You would receive £11,400. If Compensation of £1,000 is received but £500 is used by the Company to reduce Your outstanding balance the Fee would be £200 plus VAT, therefore You would receive £240 (£500 less our Fee including VAT of £260). VAT is charged at the prevailing statutory rate. Should the VAT rate change this will result in a possible increase or decrease in the Fee.
c. You agree that the Company is entitled to remit the Compensation to Fast PPI and that Fast PPI shall deduct the Fee and VAT before paying the balance of the Compensation to You.
d. Fast PPI will, as soon as is reasonably practicable following the settlement of a Claim(s) and the payment of Compensation by the Company to Fast PPI, pay You the balance of the Compensation, after deducting the Fee plus VAT. For the avoidance of doubt where You have more than one successful Claim against one or more than one Company, Fast PPI may deduct from any Compensation paid the Fees plus VAT payable in respect of each of the Claims from the Compensation received for any one of those Claims.
e. Compensation may be used by a Company to reduce any outstanding debt You owe them and You understand that Fast PPI‘s Fee of 20% plus VAT (24%) will be payable to Fast PPI based on the total amount of calculated Compensation even if the Company does not pay the whole sum of the Compensation to You. Fast PPI will invoice You for the Fee plus VAT which will become immediately due and payable by You to Fast PPI.
f. We reserve the right to charge for costs and expenses incurred in recovering unpaid Fees and VAT where an offer of Compensation is made from a Company to You. Where such action leads to county court action it will be for the court to ascertain the level of costs that will be imposed.
g. These Terms of Engagement shall continue to operate until all Claims where a Fee plus VAT is payable have been settled.

Please see “Fee Examples Table” below:

Example 1: All compensation is "Cash in hand"Example 2: Compensation includes "Cash in hand" award with loan and future instalment reductionExample 3: Compensations is used to offset arrears consumer has on credit card or loan
Total Compensation Received by Customer£3,000Total Compensation Received by Customer£3,000Total Compensation Received by Customer£3,000
Loan Reduction by Lender £0Loan Reduction by Lender£2,000Arrears Reduction by Lender£3,000
Of which cash received by Customer after Loan reduction £3,000Of Which Cash Received by Customer after Loan Reduction£1,000Of Which Cash Received by Customer after Arrears Reduction£0
Firms Fee Charged @ 20% + VAT(24%)£720 Firms Fee Charged @ 20% + VAT(24%)£720 Firms Fee Charged @ 20% + VAT(24%)£720
Consumer Pays Firm £720Consumer Pays Firm£720Consumer Pays Firm£720

The Compensation You receive may include simple interest at a rate of 8% per annum which is to compensate You for being deprived of the money You had paid to the Company for the PPI.

The 8% interest paid by the Company will be taxable on You and it must be declared to HMRC or included in a self-assessment tax return. This is Your responsibility and not that of Fast PPI. You can access guidance on this from the HMRC website.

4. Cancellation Rights and Charges
a. Subject to clauses 5b, 5c and 5d, You may cancel Your Claim(s) at any time after Fast PPI has received Your Instructions by any a clear statement, either by using the cancellation form enclosed or You may request cancellation in writing, by telephone, via email (see clause 8a. for contact details) or in person by making any clear statement setting out the decision to cancel.
b. If You cancel Your Claim(s) within the Cooling off Period You will owe Fast PPI nothing.
c. If You cancel the Claim(s) at any time after the Cooling off Period for any reason, Fast PPI may charge a cancellation charge which will be reasonable and proportionate to the work done and the costs incurred by Fast PPI up to the point of cancellation. For any manual communication e.g. an outgoing or incoming call/letter or email to or from either You or the Company we will charge You £25. For any automated communication to You e.g. letter, SMS or email we will charge you £10.
d. If You cancel Your Claim(s) after being notified that an offer of reasonable Compensation is due to You, then Fast PPI shall be entitled to charge You a cancellation charge equal to the Fee plus VAT that would be payable under clause 4 on the Compensation. A reasonable offer would be in accordance with the rules set out by the FCA/Financial Ombudsman Service and the FSCS.
e. Fast PPI may at its sole discretion decide not to proceed with a Claim and/or cancel this Claim at any time, but, subject to clause 5f, Fast PPI must act reasonably in taking such a decision and You will owe Fast PPI nothing.
f. In the event that Fast PPI decide not to proceed with a Claim and/or cancel this Claim after the Cooling off Period in accordance with clause 5e as a result of any of the following events occurring:
i. You do not follow a reasonable recommendation made by Fast PPI; or
ii. You provide information which You knew to be false or misleading in support of your Claim and this information is material to the success of Your Claim; or
iii. You fail to respond to reasonable requests for information in a timely manner and this prevents Fast PPI from providing the Claims Services; or
iv. You breach the terms of this Agreement;
Fast PPI reserve the right to charge You a fee to cover Fast PPIs reasonable costs for the work undertaken in processing Your Claim up to the date of cancellation.

5. Your Personal Data
We will use the personal information You give to us to:
a. Provide the PPI Check.
b. Provide the Claims Services following Your Instruction.
c. We will not provide Your personal data to any third party organisation except for the purpose of providing the Claims Services.
e. Perform a Credit Search for any Financial Related Products / Services with a Credit Reference Agency.
f. We will update You throughout Your Claim(s) by SMS or email or post.

6. Complaints and Governing Law
a. You can make a complaint by any any reasonable means about our service via Fast PPI’s internal complaints procedure by email: complaints@fastppi.co.uk , by telephone on 03300102305, by post to Fast PPI, Lyric Building, Castle Chambers 3rd Floor, 46 Worcester Place, Swansea, SA1 1JQ, in person or by any reasonable means. You can also find a copy of our complaints procedure at www.fastppi.co.uk.
b. Should You remain unhappy You may refer Your complaint, within 6 months of the date of our final response, to the Legal Ombudsman Service, by email: cmc@legalombudsman.org.uk, by phone on 0300 555 0333 or post to Legal Ombudsman, PO Box 6804, Wolverhampton, WV1 9WG.
c. This Agreement and any dispute or Claim(s) arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or Claims), shall be governed by and construed in accordance with English law and the parties irrevocably submit to the exclusive jurisdiction of the courts of England and Wales.

The Money Recovery Centre Ltd, trading as Fast PPI, Lyric Building, Castle Chambers 3rd Floor, 46 Worcester Place, Swansea, SA1 1JQ. is registered in England (Company No. 09167906) and is regulated regulated by the Financial Conduct Authority Reference number: 830393; its registration is recorded on the website https://register.fca.org.uk/.

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