Client Charter terms and conditions

Terms and conditions

This Charter sets out the principles of our working arrangements with you. The notes below detail the arrangements that support these pledges.

The Charter covers all client Factoring and Invoice Discounting facilities that are linked to business invoices. It does not extend to facilities linked to stock, plant & machinery, and property, or for cash flow loans.

Service Pledge

Should the service of Lloyds Bank Commercial Finance, as outlined in our agreement, not meet your expectations you may claim a refund of the Service Fee that you have paid in the first six months of our relationship. The following conditions apply to this pledge:

  • During the first 6 months of your Agreement, Lloyds Bank Commercial Finance will take all appropriate steps to rectify any complaints submitted in writing to your Client Manager.
  • If our remedial actions do not rectify the situation, Lloyds Bank Commercial Finance will refund in full the service fee already paid by you during the first 6 month period.
  • Any refund will be paid at the end of the first 6 months period. Lloyds Bank Commercial Finance will not refund any service fee if you have broken any of the Operating Conditions in your Agreement.
  • Our service pledge is only applicable to Invoice Factoring and Invoice Discounting facilities.
  • If the conditions of this pledge are different from those in your Agreement the conditions in this Charter shall apply.

Termination Pledge

During the first six months following the commencement of your agreement you may terminate your facility without incurring a termination fee by giving us 28 days notice, unless we agree and document a different fixed termination period with you at the outset of the agreement. After the initial six month period has passed our normal contractual termination conditions will apply. In the event of termination all outstanding balances must be cleared by the termination date.

The following conditions apply to the termination pledge:

  • The pledge covers all situations where you choose to switch to another factor/ discounter, to your bank, or to your own cash management arrangements.
  • Should your business cease to trade or enter into any insolvency then our normal contractual termination arrangements will apply.
  • Our termination pledge is only applicable to Invoice Factoring and Invoice Discounting facilities.

© Copyright Lloyds Bank Commercial Finance 2017

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

Lloyds Bank Commercial Finance Ltd. Registered office: No.1, Brookhill Way, Banbury OX16 3EL. Registered in England and Wales no.733011.

Lloyds Bank Commercial Finance Scotland Limited, Registered in Scotland no. 93252. Registered office: 110 St Vincent Street, Glasgow, G2 5ER.

Lloyds Bank Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority under registration number 724228 for activities relating to certain types of consumer credit which are regulated under the Consumer Credit Act 1974 and by the Financial Services and Markets Act 2000. We are not deposit takers and are not regulated by the Prudential Regulation Authority.

When using Asset Finance your agreement will be with a Lloyds Banking Group company whose terms and conditions will apply. The provision of credit or leasing services by us is subject to your meeting our Credit approval. Please ensure that you only apply for credit or leasing services that you can comfortably afford.