Terms & Conditions
We are regulated by the Financial Conduct Authority in respect of regulated claims management activities. Our Firm Reference number is 833865.
By signing our terms and conditions and/or by instructing us in relation to a Claim you confirm that you are aware that you can conduct a Claim yourself without assistance from us or another claims management company but that you wish us to act on your behalf in relation to a Claim.
1.1 “Claim(s)” means the Client’s complaint or complaints against the Company or Companies relating to mis-sold financial products as detailed in the claim summary provided to you and any additional products or claims which are discovered in the course of the investigation into your complaint(s), including those held in joint or single names.
1.2 “Client” means the account holder(s) whose details are set out in the Letter of Authority and who have appointed ReclaimPPI.co.uk to act on their behalf (“you/your”).
1.3 “Company” means the financial institution to whom the Letter of Authority is addressed, including, but not limited to, the credit-card provider, lender, bank or other entity that provided the financial product which is the subject of the Claim, including, for the avoidance of doubt, any employee, director, agents, representatives and associates of those financial institutions and/or any of their predecessors or the Financial Ombudsman Service or Financial Services Compensation Scheme.
1.4 “Compensation” means the gross sums paid or awarded in respect of, in relation to or in connection with, a Claim (without any deduction) in any form including but not limited to, in cash, credit, reduction of debt, goodwill gesture, policy refund or rebate, as a result of us carrying out the Services or any of them.
1.5 “Fee” means the fee of 10% + VAT of the Gross Compensation, which is 12% in total.
1.6 “Letter of Authority” means the letter included in the welcome pack which we send to you after we confirm acceptance by us of your Claim.
1.7 “ReclaimPPI.co.uk” and/or “Reclaim PPI” means “Financial Claims Made Simple Ltd (Company Registration Number: 06268019) who are authorised and regulated by the Financial Conduct Authority (Temporary Permissions Number: 833865) (“we/us/our”).
1.8 “Services” means the services provided by ReclaimPPI.co.uk to you including, but not limited to, assessing the viability of, preparing, submitting, negotiating and completing your Claim.
1.9 “Terms” means these Terms & Conditions as amended from time to time.
2. Our contract with you
2.1 By signing these Terms you agree to be bound by these Terms and to comply with your obligations in them including, but not limited to, those contained in clause 3. However, please note that if you do not sign and return these Terms to us but continue to ask us to carry out the Services for you, you will still be bound by these Terms.
2.2 A contract will come into existence between you and us when we confirm receipt of the signed Letter of Authority and Terms to you and that we accept your Claim.
3. Your obligations to us
3.1 You agree and/or confirm:
(a) that by signing the Letter of Authority, we have your full consent and authorisation to deal, correspond and communicate with the relevant Company for the purposes of providing the Services;
(b) to provide all documents, including those in electronic form, in your possession that are relevant to the Claim and which give evidence of a fact in the Claim;
(c) to deal promptly with requests from us for authority, information, documents or further instructions that ReclaimPPI.co.uk might require;
(d) to promptly inform us of any relevant matters, documents or information (whether requested or not) relating to, or which may affect, a Claim, such as, but not limited to, direct contact from the Company or anyone on their behalf;
(e) to inform us within 7 days of receipt by you or anyone on your behalf of any payment of Compensation (or part of it) or offer of Compensation made by the Company, Financial Ombudsman Service or Financial Services Compensation Scheme;
(f) that you have never been declared bankruptcy, and have never had or been subject to a debt management plan, debt relief order or Individual Voluntary Arrangement;
(g) that we have the right to deal exclusively with your Claim, unless otherwise agreed in writing between you and us.
3.2 Where a Client consists of two or more people the obligations imposed on the Client by these Terms are owed by each of those people jointly and severally. This means that you can each be deemed fully liable for a breach of them and that the liability does not necessarily have to be apportioned equally between you.
4. How we will carry out the Services
4.1 We will:
(a) carry out the Services with reasonable care and skill;
(b) not check the accuracy of the information you provide us with. It is your obligation to ensure that all the answer and statements given to us by you are correct, accurate and not misleading;
(c) as soon as reasonably possible notify you if the Claim is not to be pursued;
(d) as soon as reasonably possible notify you of the outcome of the Claim;
(e) as soon as is reasonably practicable following the settlement of a Claim (if money is to be paid to us as part of that settlement) pay the Client the balance of the Compensation, after deducting the Fee;
(f) preserve confidentiality, including the Client’s personal information (even when this agreement has terminated and the Client is no longer a client), save as expressly or implicitly authorised to the contrary including where disclosure is made at the Client’s request or with the Client’s consent in relation to pursuing the Claim or where otherwise required by law.
5. Transfer of this agreement to someone else
5.1 We may transfer our rights and obligations under this agreement to another organisation and we will always notify you in writing if this happens, but we will ensure that this does not affect your rights under this agreement.
5.2 You may not transfer, sub-contract or otherwise deal with your rights and/or obligations under these Terms without our written consent. We may withhold consent if any fee or cost which you have become liable to pay to us before the proposed date of the transfer remains outstanding.
6. Your Rights to end this Agreement
6.1 You can cancel this agreement within 14 days from signing it. If you do then you will be entitled to a full refund of any sums you have paid to us. We will not charge you a fee if you cancel within this period.
6.2 You can cancel this agreement at any time if we have breached our obligations in these Terms and the agreement will end immediately and we will refund you any money you have already paid to us in full and you may also be entitled to compensation.
6.3 If we are not at fault then you can still cancel this agreement at any time but you may still have to pay us a fee. If you tell us that you want to cancel the contract under this clause 6.3 then the contract will not end until 1 month after we receive the notice of cancellation.
6.4 We can charge you a fee if you cancel the contract under clause 6.3. The fee will be calculated as a percentage of the amount the Claim is reasonably worth with reference to the stage the Claim has reached at as the date of cancellation as set out in the following table:
Stage Percentage of Claim value (plus VAT)
An example of the calculation of a termination fee is:
Assessment for a £1000 claim: No charge
Preparation for a £1000 claim: No charge
Submission for a £1000 claim: No charge
Negotiation for a £1000 claim: No charge
Completion for a £1000 claim: £100 fee + VAT of £20 = Total of £120
6.5 Any fee payable in accordance with this clause 6 is payable within 30 days of the date on which we send the invoice to you.6.2 You can cancel this agreement at any time if we have breached our obligations in these Terms and the agreement will end immediately and we will refund you any money you have already paid to us in full and you may also be entitled to compensation.
7. How to Cancel this Agreement
7.1 If you wish to cancel this agreement please let us know by:
(a) Email us at firstname.lastname@example.org.
(b) Complete and post the form included in your claim pack, or simply write to us at that address
8. Our Rights to end this Agreement
8.1 We may cancel this agreement by giving you at least 15 days’ written notice if:
(a) you do not, within a reasonable time of us asking for it, provide us with information that is necessary for us to provide the Services;
(b) you fail to comply with your obligations in this contract;
(c) we reasonably believe that a Claim does not have, or no longer has, reasonably prospects of being successful.
8.2 If we cancel this agreement under clause 8.1(a) or (b), then we may charge you a fee. The fee will be calculated as a percentage of the amount the Claim is reasonably worth with reference to the stage the Claim has reached as set out in the following table:
Stage Percentage of Claim value (plus VAT)
An example of the calculation of a termination fee is:
Assessment for a £1000 claim No charge
Preparation for a £1000 claim No charge
Submission for a £1000 claim No charge
Negotiation for a £1000 claim No charge
Completion for a £1000 claim £100 fee + VAT of £20 = Total of £120
9. Payment of our Fee in the event a Claim is successful
9.1 We will charge you the Fee whenever we are successful in obtaining a recovery under a Claim.
9.2 If the form of recovery is the payment of money and we receive the Compensation or any part of it directly from the Company then we will deduct our Fee and send the balance to you in accordance with clause 4.1(e) together with an invoice for your records.
9.3 If the form of recovery is the payment of money and you receive the Compensation or any part of it from the Company then we will invoice you for the Fee. The invoice is sent at offer stage but payment is only requested once funds are received.
Examples of the fee calculation where the recovery is the payment of money:
£1,000 Gross Refund before tax
£100 fee for our services
£20 for VAT (currently at 20%) on our fee
Total Invoice £120 including VAT
£3,000 Gross Refund before tax
£300 fee for our services
£60 for VAT (currently at 20%) on our fee
Total Invoice £360 including VAT
£10,000 Gross Refund before tax
£1,000 fee for our services
£200 for VAT (currently at 20%) on our fee
Total Invoice £1,200 including VAT
9.4 If the recovery is other than by way of the payment of money then we will invoice you for our Fee based on the financial benefit you receive. The invoice is sent at offer stage but payment is only requested once funds are received.
Examples of the fee calculation where the benefit received is not the payment of money:
£1,000 Gross refund before tax
£950 taken by lender to pay outstanding debts leaving £50 paid to you
£100 for our fee
£20 for VAT on our fee
£70 Invoice discount as only £50 received from the lender
Total Invoice: £50 including VAT
£3,000 Gross refund before tax
£950 taken by lender to pay outstanding debts leaving £2,050 paid to you
£300 for our fee
£60 for VAT on our fee
No invoice discount as £2,050 received from the lender
Total Invoice: £360 including VAT
£10,000 Gross refund before tax
£950 taken by lender to pay outstanding debts leaving £9,050 paid to you
£1,000 for our fee
£200 for VAT on our fee
No invoice discount as £9,050 received from the lender
Total Invoice: £1,200 including VAT
9.5 Any fee payable under this agreement which remains unpaid for 30 days from the date on which it became payable will attract interest at the rate of 4% per annum above the base rate of Barclays Bank plc from time to time. We shall also be entitled to recover from you the costs, fees and expenses we incur in recovering this amount from you.
10. Our Liability to You
10.1 If we fail to comply with these Terms, we are responsible for loss or damage you suffer that is a foreseeable result of us breaking this contract or our failing to use reasonable care and skill in carrying out the Services. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the agreement was made, both we and you knew it might happen.
10.2 We do not exclude or limit in any way our liability to you where it would be unlawful to do so.
10.3 We are not liable to you for any loss you suffer as a result of you failing to comply with your obligations in these Terms.
11. Changing these terms
11.1 We may make changes to these terms if such changes are required or recommended by law or our regulator from time to time (currently the Financial Conduct Authority), but if we do so we will notify you in writing and you may then contact us within 30 days of receipt of that notice to end the contract before the changes take effect. If you do end the contract in this circumstance then you do not have to pay us a fee.
12. When we can suspend the supply of Services to you
12.1 We may have to suspend the supply of one or all of the Services to you if:
(a) there is a prolonged delay in receiving a reply or correspondence from the Company;
(b) you fail to provide us with any information within a reasonable time after we have requested it from you and we are unable to progress your Claim without it.
12.2 We will contact you in advance to tell you that we will be suspending supply of the Services and the reason for the suspension and, if we are able to, how long we expect the suspension will last for.
12.3 The suspension will not affect your rights under this contract.
12.4 ReclaimPPI.co.uk shall have absolute discretion as to whether to submit, proceed with or accept a claim (but we will act reasonably in making our decision). For example, we may refuse to submit, proceed with or accept a claim if we have reasonable grounds to suspect that the claim does not have a good arguable base, is fraudulent or is frivolous or vexatious. Additionally, if after we have submitted a claim, it appears to us that the claim does not have a good arguable base, is fraudulent or is frivolous or vexatious (we will act reasonably in making our decision) then we may notify you that we are not proceeding with the claim. If we reach this decision we will (to the extent that we are permitted to do so) promptly notify you and provide reasonable detail of why we have reached this decision. If we reach this decision we will not charge you a fee for the work we have carried out in relation to the claim. This clause does not prevent us from terminating the contract under any other provision of this agreement
13. Governing Law
This agreement shall be subject to the laws of England and Wales and to the jurisdiction of the English courts.
ReclaimPPI is a trading style of Financial Claims Made Simple Ltd
13th Floor, Tower House, Fairfax Street, Bristol, BS1 3BN. Company Number 06268019. Financial Claims Made Simple are authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 833865). VAT Registration: 908 6282 08