The following terms constitute the Terms of Business for Quandrance Finance Ltd to provide the services as described below.
1. Interpretation. For the Purposes of These Terms of Business.
1.1 ‘Company’ ‘We’ ‘Us’ and ‘Our’ are references to Quandrance Finance Ltd (QFL) also trading as MyChargeBack.
1.2 ‘Client,’ ‘You’ and ‘‘Your’ are references to the person to whom our Terms of Business are addressed.
1.3 ‘Compensation’ is defined as the amount paid to the client in respect of redress awarded to You and is calculated as the total cash received, or the total refund before any offset: (a) against any arrears, (2) due to tax, or both.
1.4 ‘Chargeback’ is a charge that is returned to a payment card after a customer successfully disputes a transaction.
1.5 ‘Letter of Authority’ means the letter signed and returned by You to Us authorizing Us to act as Your representative in respect of Your claim(s).
1.6 ‘Contract’ refers to the obligations between the Company and You as set out in these Terms of Business.
1.7 ‘Claim’ refers to a formal complaint brought about by Us on Your behalf.
1.8 ‘Bank’ means the bank, building society, finance provider product supplier, broker/intermediary or credit card or other such company.
2. What We Agree to Do
2.1 We will assess your dispute claim and if appropriate, and in your interests, pursue a Claim for the recovery of your losses on your behalf.
2.2 We will deal with all areas of your Claim, including correspondence with relevant Banks and/or institutions and all negotiations including with the merchant. It may be necessary for us to obtain further signed documentation from You to make this possible.
2.3 As part of our claims process, where you have purchased a product or service using your credit/debit card, we will request the bank to process a Chargeback as a mechanism to recover your funds. There are no guarantees your issuer will be able to recover the money through the Chargeback procedure, or that the merchant will accept that you are entitled to have the money back.
2.4 Where applicable, we may negotiate with the merchant to obtain an offer of compensation in full and final settlement of the Claim.
2.5 Where applicable, we may pursue your claim under section 75 of the Consumer Credit Act, under which the credit provider becomes equally liable for the purchase of goods and services.
2.6 We will inform You of offers of settlement we receive.
2.7 If the recovered amount is paid directly to Us, We will deposit the payment in Our client account, deduct Our agreed fee and forward the rest of the amount awarded to You as provided under Section 5.1 hereof. (If the payment is made directly to You, we will forward an invoice to You for Our fees for payment.)
2.8 All your questions and queries in respect of the Claims Management Services as described under Section 2 must be submitted to the Company electronically to [email protected], or to another email address communicated to you by the Company, in this respect, so as to serve your needs better and make the Claims Management Services to you more efficient and effective.
2.9 If the Claim is rejected by the financial institution and such rejection is communicated to the Client rather than to the Company, the Client should immediately send a scanned copy of the official rejection letter to [email protected] so that the Company can investigate the reason. Once the letter is received, the Company will discuss the possible options with the Client within 14 business days before deciding whether to proceed with further action.
3. Obligations of the Client. You Agree to:
3.1 Promptly supply Us with any and all documentation and supporting information, as reasonably requested by Us to progress Your Claim.
3.2 Ensure that any information supplied to Us will be accurate and not deliberately misleading.
3.3 Inform Us promptly should You receive any communication from Your Bank including when You receive any further questions in respect of your dispute.
3.4 At Your election, authorise Us to refer Your Claim to the FOS or FSCS if we believe it is in your interests to do so.
3.5 Not accept any offer of Compensation from Your Bank in relation to a Claim brought about by Us without first communicating that offer to Us.
3.6 Authorise and request Us to investigate all agreements You may have had for your disputed case, if we believe it to be in Your interest, including additional agreements that we identify as part of our investigations. You may request Us not to investigate claims should You wish Us not to do so.
3.7 Provide Us with and ensure that we have the exclusive authority to act for You: (a) to pursue your Claim and (b) to enter correspondence and negotiations with Your Bank on your behalf.
3.8 Not to remove or cancel Our authority to act for You. If You do so We may treat this as an act of Termination under section 7 of this agreement, which may result in a Termination fee being charged.
3.9 Promptly update Us if you change your contact details.
3.10 Inform us within two (2) business days of any amount that you receive either directly from the Merchant(s) or as a credit from a financial institution to your bank account, credit card or debit card. In the event that you submit a chargeback request to your Bank based on our advice (i.e. rather than us liaising with your bank under a letter of authority) and we do not receive any update from you for 60 days after your Claim was presented to the relevant financial institution(s), our MyChargeBack Fees (as defined below) in relation to the entire amount of your Claim will become due and payable.
4.1 We operate on a ‘no win, no fee’ basis, except where the Contract is Terminated by You after 14 days or You fail to fulfil Your obligations set out in Section 3 of this agreement.
4.2 Except as otherwise set forth in Section 8.2 hereof, we will only charge You a fee if We achieve some Compensation award for You.
- Fees (‘Fund Recovery Fees’) to be 30% of the net compensation payment, plus VAT at the prevailing rate, i.e., 36% (inclusive of VAT).
- Examples* of fees deducted for differing compensation amounts No arrears present.
Example A: Total Compensation Received: £3000, Fees Charged @30%: £900, VAT @20%: £180 Consumer Pays the Company: £1080.
Example B: Total Compensation Received: £5000, Fees Charged @30%: £1,500, VAT @20%: £300 Consumer Pays the Company: £1800.
- Examples* of fees deducted for differing compensation amounts, Arrears present. Potential for offset.
Example Total Compensation Received: £3000, Arrears Present: £1000 Fees Charged @30%: £900, VAT @20%: £180, Total Fee Payable: £1080, Consumer receives: £920, Total Reduction in Arrears: £1000
*Please note: If previous liabilities exist, any sum recovered may be offset against these existing liabilities. In the instance that the arrears present exceed the sum recovered – you will, where necessary, be liable to pay Our Fee from your own funds.
5. Payment of Fees
5.1 Where Your Bank makes payment to Us/Our Client Account We will deduct Our fees from the Compensation and pay the remainder to You within three (3) working days of funds being cleared in Our account.
5.2 Where Your Bank makes payment to You, you agree to pay Our invoice within seven (7) days of receiving Compensation in Your account.
5.3 We accept payment by cheque and electronic direct bank transfer.
5.4 What to do if you think an invoice is wrong. If you think an invoice is wrong, please contact us immediately to let us know.
6. Non-Payment of Invoice and Collection Activity
6.1 All invoices must be paid within 30 days of You receiving payment from Your Bank unless a payment plan has been put in place. In the event that the Company has not received your payment of your Fund Recovery Fees within thirty (30) business days after it became due and owing under this Section 6, the Company reserves the right to charge interest at the rate of the lower of: (i) two percent (2%) per month or (ii) the highest rate of interest allowable under applicable law. Interest shall accrue at such a rate both before as well as after any court judgment.
6.2 In addition, invoices which remain unpaid after 30 days may be referred for a solicitor’s transmission of Pre-Action Protocol, in which case your fees shall be increased by ten percent (10%) plus VAT.
6.3 In addition to the interest and late fees recited in Sections 6.1 and 6.2 hereof, if We are required to take additional steps to recover the debt (e.g., via County Court, collections agencies) the costs of such recovery action may be added to the outstanding.
7. Cancellation and Termination
7.1 We can cancel this Agreement at any time. There will be no fee payable if We advise You that Your claim is unlikely to succeed, provided You have fulfilled Your obligations (as laid out in section 3 of this agreement).
7.2 You may cancel the agreement at any time.
7.3 To exercise the right to cancel, you must inform us of your decision to cancel this contract by a clear statement (e.g. a letter delivered by hand, post, fax, telephone, or e-mail).
7.4 We shall have the right, by giving written notice to the Client at any time, to immediately terminate the contract if: You are adjudicated bankrupt, enter into a voluntary arrangement with Your creditors or have a receiver appointed under the Mental Health Act 1983.
7.5 Failure by You to co-operate with reasonable requests by Us during Your Claim (as per Section 3 of this agreement) will be treated as if You have terminated this agreement and may incur cancellation costs as per section 8.2. We will write to You giving 14 days’ notice of this happening and allowing You the opportunity to co-operate with Our request.
7.6 Our Fund Recovery Fees shall be due with respect to any amount that you receive from, on behalf of, or with respect to the Claim(s) after you sign the Contract, regardless of whether:
(i) Partial Payments: The amount you received in relation to the Claim represents the whole amount that you hoped to receive, or only a partial payment;
(ii) Direct and Indirect Payments: You received the funds directly from the merchant that charged your card or indirectly through either Us or a third party, such as a law firm or as a credit from a financial institution to your bank account, credit card or debit card;
(iii) On Original Deposits and Trading Profits (if any): The amount that you received represents your original deposit(s) to the merchant which charged your card or profit that you earned through trades and/or investments that you placed through such merchant;
(iv) Regardless of the Merchant’s Reason for Paying: The merchant(s) which charged your card were caused or motivated to return your funds by the actions of You, Us or any other third party.
8. Effects of Cancellation and Termination
8.1 Your statutory right to cancel the Contract: You have a legal right to cancel the Contract by no later than the end of 14 calendar days from the date entered below Your signature below. This means that if you change your mind or for any other reason you decide that you do not want us to provide services to you, you can notify us of your decision to cancel our services. You do not have to give us a reason for exercising your right to cancel referred to in this clause; If termination is made after the initial 14 day period but before any offer is made by the Bank, We reserve the right to charge a reasonable fee to cover the costs incurred by Us in performing the services under this contract up to the date of cancellation.
8.2 Our charges where You terminate after the 14-day cooling off period are currently £75.00 Per Hour plus VAT: charges are applied on a time served basis, charges will accrue in units of 30 minutes.
9.1 We shall only be liable for our actions and performance in carrying out the services described under this Contract. Specifically, we are not liable for the performance of the Bank, FCA, FOS or FSCS and other such third parties.
9.2 We shall perform the services as described in Section 2 with reasonable endeavors. We cannot guarantee that You will win Your Claim.
10. Data Protection and Privacy
10.1 For the purposes of this Section, ‘Data Protection Legislation’ means: (i) unless and until it is no longer directly applicable, Regulation (EU) 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (‘GDPR’) and (ii) any national implementing laws, regulations, and secondary legislation, as amended or updated from time to time, as well as any successor legislation to GDPR.
10.2 Both Parties will comply with all applicable requirements of the Data Protection Legislation. This Section 10 is in addition to, and does not relieve, remove or replace, a party’s obligations under the Data Protection Legislation.
10.7 Any telephone conversations between you and us may be recorded. All instructions received by telephone will be binding as if received in writing. Our recordings shall be and remain our sole property and will be accepted as conclusive evidence of the instructions or conversations so recorded. You agree that we may deliver copies of transcripts of such recordings to any court, regulatory or governmental authority.
11.1 Nothing in the contract shall exclude or limit Our liability for (i) fraud, (ii) death or personal injury caused by its breach of duty, (iii) any breach of the obligations implied by s.12 Sale of Goods Act 1979 or s.2 Supply of Goods and Services Act 1982 or (iv) any other liability which cannot be excluded or limited by applicable law.
11.2 THE COMPANY DOES NOT MAKE ANY REPRESENTATION OR WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM YOUR USE OF THE COMPANY’S SERVICES. YOU EXPRESSLY AGREE THAT THE SERVICES ARE PROVIDED HEREUNDER TO YOU ON AN ‘AS IS’ BASIS. TO THE MAXIMUM EXTEND ALLOWED BY LAW, THE COMPANY HEREBY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTY ARISING OUT OF COURSE OF DEALING OR USAGE IN TRADE. EXCEPT AS OTHERWISE REQUIRED BY LAW, THE LIABILITY OF THE COMPANY AND ITS EMPLOYEES, AGENTS, SUCCESSORS AND ASSIGNS TO YOU OR ANY THIRD PARTY ARISING OUT OF OR IN CONNECTION WITH THIS CONTRACT, THE COMPANY‘S LIABILITY FOR ANY DAMAGES OR LOSS, HOWEVER CAUSED, AND ON ANY THEORY OF LIABILITY, INCLUDING CONTRACT, STRICT LIABILITY, NEGLIGENCE OR OTHER TORT, SHALL BE LIMITED TO DIRECT DAMAGES NOT TO EXCEED IN THE AGGREGATE THE FEES WHICH HAVE ACTUALLY BEEN PAID BY YOU TO THE COMPANY UNDER THIS CONTRACT. IN NO EVENT WILL THE COMPANY OR ITS EMPLOYEES, AGENTS, SUCCESSORS AND ASSIGNS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING DAMAGES FOR LOSS OF PROFITS, OPPORTUNITY, BUSINESS, REVENUE, DATA OR DATA USE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THESE LIMITATIONS WILL APPLY NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL PURPOSE OF ANY REMEDY.
11.3 We are not legal or financial advisers and, as such, none of Our employees may give clients financial or legal advice at any time, either verbally or in writing.
12. Things Outside of Our Control
12.1 The Company is not liable for failing to fulfill its obligations due to acts of God, civil or military authority, war, riots, strikes, fire, or other causes beyond its reasonable control. We will notify You of any circumstances beyond Our control which prevent us performing the services set forth in this Contract.
12.2 You shall indemnify, defend, and hold Us harmless from any liability, loss, claim or expense (including reasonable attorney fees) related to your breach of this Agreement, including your presentation in respect of a Claim of any required documentation that is incorrect, fraudulent or false.
13. Law and Disputes
13.1 The Contract and Your relationship with us shall be governed by the Laws of England and Wales and shall be subject to the exclusive jurisdiction of English Courts.
13.2 We have supplied you with a copy of Our complaints procedure which is also available online here: www.mychargeback.co.uk/complaints-procedure/
13.3 During the term of the Contract we shall have the right to nominate a chartered accountant, who shall have access to such of your records as are necessary to verify the accuracy of information required to be disclosed to us under the terms of the Contract, including, but not limited to, in relation to the Fees payable under Section 4 hereof. You shall disclose to the chartered account such information pertaining to Fees (under Section 4 hereof) as are reasonably requested by us or the chartered account to determine the accuracy of such information.