Initial Disclosure, Commission Disclosure and Treating Customers Fairly Document

The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority require us to provide you with a document called an ‘Initial Disclosure Document’. This document provides information about us, the products we offer, the services we will provide, what we charge for our services, who regulates us, what to do if you have a complaint and details about the Financial Services Compensation Scheme.

What services do we provide?

We will provide you with either comparable details of firms most appropriate to your lending or purchase requirements or general information relating to finance products. In assessing your requirements we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your needs. It is important that you provide us with accurate and relevant information. You will not receive advice, or a recommendation from us, but we may ask questions to narrow down the selection of firms offered, from which you can more easily make your own choice if you so wish.

Whose products do we use?

As an Financial Conduct Authority regulated credit broker we can introduce you to a range of lenders who may be able to help you finance your vehicle and provide other products/services.

Do we charge for our services?

No, we do not charge fees for our broker related services. We are a commission and fee based organisation which means that we may receive a payment(s) or other benefits from finance providers should you decide to enter into an agreement with us. These fees may be variable or pre-set dependent on the product and the volume that we place with the chosen supplier.

Who regulates us?

Driven By Leasing Ltd is authorised and regulated by the Financial Conduct Authority. Our firms reference number is 767931. You can verify this on the Financial Conduct Authority’s Register by visiting the Financial Conduct Authority’s website: http://www.fca.org.uk/register/ or by contacting them on 0300 500 8082.

Other services we offer are not regulated by the Financial Conduct Authority however the Financial Ombudsman Services has now been extended to handle some complaints under the Consumer Credit Act.

Financial Conduct Authority

The Financial Conduct Authority expects any intermediary to disclose to the customer that a commission may be payable by the owner or creditor to the intermediary, and, if the customer asks, the amount of that commission. The Financial Conduct Authority has made it clear that “commission” means any financial consideration.

If you would like us to disclose any potential commission we earn:

In-line with new legislation, if you would like Driven By Leasing Ltd to disclose any potential commission please make your request to our admin office address 1 Ash Court, West Street, Rosemarket, Milford Haven, SA73 1JH

About Driven By Leasing Ltd’s Services

1. Who’s Products Do We Offer?

Driven By Leasing Ltd offer products and services from a range of Finance Companies, UK Vehicle Dealerships and Product Providers with whom we have commercial agreements in place. We are a Commission Based Organisation which means that we receive payments for business introductions. We will receive financial remuneration which may be variable or pre-set dependent on the product and the volume that we place with that organisation. The amounts that we receive may vary.

2. Which service will we provide for you?

(Question) We will advise and make recommendations for you after we have assessed your needs – (Answer) NO
(Question) You will not receive advice or a recommendation from us. We have provided you with product information enabling you to make your choice about how to proceed – (Answer) YES

3. Who Regulates Us?

Driven By Leasing Ltd and its trading styles, Vanlease, Carandvanlease, The Car & Van Shop, is authorised and regulated by the Financial Conduct Authority.

4. What to do if you have a complaint

If you wish to make a complaint please contact Driven By Leasing Ltd in writing at our registered office address; Hyde Park House, Cartwright Street, Hyde, SK14 4EH and we will be happy to respond. If you cannot settle things to your satisfaction with us directly you may be entitled to refer your complaint on to the Financial Services Ombudsman Service.

We are committed to giving you excellent customer service and treating you fairly. We are fully committed to providing the highest standards of client service and advice and we never forget that you have a choice of supplier and are grateful that you’ve chosen us.

Treating Customers Fairly (TCF) is one of the key principles set by the Financial Conduct Authority to ensure fair treatment of customers, by improving standards across the financial industry.

As a part of this, Driven By Leasing Ltd follows the relevant aspects of the Financial Conduct Authority’s six guiding principles on how to engage with our customers. These are known as the ‘Treating Customers Fairly’ principles and govern how we communicate with customers, the level of service we provide and the fairness of our products and procedures.

The six principles for treating customers fairly

• Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
• Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
• Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
• Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
• Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
• Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

Ways we meet these requirements in the day to day running of our business

We continually aim to understand the needs of our clients

We ensure that the marketing of our products is appropriately targeted, clear, not misleading and highlights the risks/conditions as well as the key features/benefits of a product.

We make certain our clients understand the risks associated with our services at the outset of an instruction.

We keep our clients fully informed in a clear and fair manner that is unambiguous and not misleading.

We ensure our services are delivered with clarity and transparency and do not contain hidden conditions or rely on complex technical definitions.

Any advice provided will be appropriate and take into account the customer’s individual needs and circumstances.

We take our clients’ privacy seriously and ensure that our staff are aware of and follow rules in relation to data protection to ensure that clients’ details are kept secure and confidential.

We take any complaint seriously and will deal with any complaints promptly and make improvements to our operations where required.