Terms & Conditions

Pinnacle Business Finance is a commercial finance brokerage based in Bristol. Our registered office is East Lodge Kartway House, Lugwardine, Hereford, HR1 4AE, Pinnacle Business Finance Ltd, 11370204.

We act as a commercial finance broker, offering independent guidance on business funding solutions, including business loans, acquisition finance, commercial property funding, asset finance, and other financial products.

(This document is a legal agreement. By using our services, you agree to these terms.)

Terms of Business

AN AGREEMENT BETWEEN THE BROKER & THE CLIENT

The Broker Pinnacle Business Finance Ltd 

Address  East Lodge Kartway House, Lugwardine, Hereford, HR1 4AE

Defined Terms 

1. Appointment of Broker 

1.1 This document sets out how we will deal with you in the provision of Credit Broking Services. We will start providing Credit Broking Services, and the Agreement will be dated once you and we have signed it. This date will be the Commencement of the Agreement.  

2. Standard Statement 

2.1 Pinnacle Business Finance Ltd is a member of the National Association of Commercial Finance Brokers (NACFB). We adopt a strict Code of Practice and Minimum Standards set by the Association. 

You can check our membership status by contacting the NACFB using the link below.

 https://nacfb.org/ 

3. Appraisal and Arrangement Fee 

3.1 Appraisal Fee

In consideration of the appointment, you will pay the Broker an Appraisal Fee to assess and prepare the Lending Proposal; the Appraisal Fee shall be paid at the commencement of the Agreement. 

3.2 Arrangement Fee

At the point the Finance Offer is made by a Lender to whom we presented the Lending Proposal, you will pay in addition to the Appraisal Fee in clause 3.1, the Broker an Arrangement Fee % of the loan amount.

Payment of the Arrangement Fee shall be made within 14 days of the date of issue of the Finance offer by that Lender.

The Arrangement Fee is payable once a Finance Offer has been presented to you.

4. Client Acknowledgement

4.1 You acknowledge that:

4.1.1 You have been urged to seek such independent advice as you consider necessary before signing the Agreement.

4.1.2 We source the Lending Proposals from a panel of lenders whose details will be supplied upon request. In this role, we are doing no more than effecting an introduction between you and the Lender(s) to enable you to choose a Finance Product which, in your sole opinion, is suitable for you. We are not your agent or otherwise acting on your behalf, and there is no duty upon Us to provide you with impartial advice, information, or recommendation.

4.1.3 We may receive Commission from the Lender as well as receive Fees separately from you pursuant to clause 3.1, 3.2 and 5.1 of the Agreement; for the avoidance of doubt these sums are subject to the terms of Our arrangements with the Lender who pays that Commission and will not be subject to the refund arrangements in clause 3.3 above.

4.1.4 You have read the Broker’s terms and conditions set out below and agree that they form part of this Agreement.

4.2      You consent that you agree to pay the Fees:

4.2.1 You are aware that we may receive Commission from a Lender for introducing you to them, and you have no objections to receiving this amount. If you wish to receive any further information concerning the Commission paid to us by the Lender, please let us know in writing.

4.2.2 You are aware that we are required to disclose the nature of the Commission in our communications, as well as when making a recommendation to you. The existence and nature of Commission arrangements where the Commission varies depending on the Lender, product, or other permissible factors will always be disclosed. The disclosure will also cover how the arrangements could affect our recommendations to you. Such disclosures will be made in our Suitability Letter issued to you.

5. Renewal of this Agreement

 5.1 The Agreement continues for a period of six months from the date we first introduce you to a Lender, at which stage, should you by then have not entered into a Finance Agreement, it will lapse. Should you then wish to continue receiving Credit Broking Services, after we have refunded any Fees payable by you under clause 4 above, you may request that we renew it upon payment of the Renewal Fee to the Broker of £ ____.

We will refund the Renewal Fee in the same circumstances and on the same conditions as set out in clause 3.3 above.

5.2 Should the Agreement be renewed under this clause, it will continue on the same terms, subject to the terms of this clause, save that; 

5.3 The Renewal Fee will be payable in place of the Appraisal Fee.

5.4 The Arrangement Fee will become payable, or repayable, (if already refunded pursuant to clause 3.3), on the making of any new Finance Offer, or if a Finance Offer previously made, for which the Appraisal Fee has been refunded, has resulted in a FinanceAgreement being signed by You but will be subject to the same terms as to repayment as are set out in clause 3.3.

(The Broker/an authorised Officer for and on behalf of the Broker)                                                                                                                                                                         

The Client [a duly authorised partner for and on behalf of each of the partners]. The Client, who shall be jointly and severally liable to perform the terms of this Agreement.

Broker’s Terms and Conditions 

1. Confirmation of Instructions 

1.1 Before signing the Agreement, the Broker will complete a Confirmation of Instructions (the Instructions), which shall be read and take effect as if they form part of the Agreement.

1.2 Any change or variation of the Instructions will not affect the liability of the Client to pay any Fee pursuant to the Agreement.

 2. Your Duty to Us 

2.1 The Client agrees to act with utmost good faith in the provision of information to the Broker. The duty is continuous and applies to all the information the Client provides, whether the Broker has asked for it or whether the Client has provided it voluntarily. The Client agrees not to withhold information from the Broker.

2.2 The Client agrees to take all reasonable steps and use all reasonable endeavours to comply with and satisfy any condition imposed by the Lender, who has made a Finance Offer that accords with the requirements set out in the Confirmation of Instructions letter.

2.3 The Client agrees to notify the Broker if at any time, they intend to appoint an additional or alternate Broker or intermediary to obtain an offer of finance for them, whereupon the Broker will be entitled to terminate this Agreement forthwith.

2.4 If the Client fails to notify the Broker that they intend to appoint an alternate or additional Broker or intermediary prior to doing so and if an Offer of Finance is obtained from any Lender, the Client will pay the Arrangement Fee calculated by reference to the finance Offer made but otherwise in accordance with clause 3.2 of the Agreement to the Broker.

3. Introductory Commission 

3.1 You acknowledge that the Lender may pay the Broker an introductory commission in respect of the funding set out in the Finance Offer. If you wish to receive further information about any such commission (including the amount), please let us know in writing.

3.2 Commission paid to the Broker may vary in amount depending on the Lender or product. Where the nature of any financial arrangement, including the amount of commission or any other type of remuneration, is known before the Broker promotes or recommends a particular Lender or Finance Product, this information will be disclosed to you.

3.3 The Client having acknowledged the matters set out under the Client Acknowledgement, consents to the Broker receiving and retaining any commission paid.

4. Termination 

4.1 The Broker may terminate the Agreement by giving 14 days written notice to the Client.

5. National Association of Commercial Finance Brokers – The Code 

5.1 The Broker agrees to act on behalf of the Client in accordance with the terms of the Code of Practice of the National Association of Commercial Finance Brokers (NACFB) as amended (the Code), and a copy of the Code is available on request from the Association or on the NACFB website:  https://nacfb.org/ 

5.2 The Broker will investigate and deal with any complaints raised by the Client concerning the services provided under the Agreement promptly and reasonably. However, if the Broker is unable to resolve any complaint to the Client’s satisfaction, the Code of Practice stipulates the procedures available to the Client, including NACFB Mediation.

5.3 If the Client is unhappy with the Broker’s response to their complaint, and the complaint falls within the regulated activities, they may be able to complain to the Financial Ombudsman Service at:

 Address: Financial Ombudsman Service, Exchange Tower, London, E14 9SR.

Contact: 0800 0234567, 0300 1239123.

Website: https://www.financial-ombudsman.org.uk/  

5.4 The Ombudsman will be able to confirm whether he can look at the complaint. If the Client is entitled to make a complaint to the Ombudsman, then they are not bound to follow any alternative procedure and can make their complaint to the Ombudsman within the timescales set down by the rules applicable to that scheme, details of which will be provided to the Client by Us on request.

6. Amendments 

6.1  Any amendment, whether proposed by the Broker or the Client, shall be notified in writing to the other party. Any amendment proposed by the Broker shall take effect on the date specified unless the Client notifies the Broker to the contrary or requests an extension of time. Any amendment proposed by the Client shall take effect when accepted by the Broker in writing.

7. Privacy Notice and Data Protection 

7.1 A Privacy Notice has been issued separately from the Terms of Business. Being transparent and providing accessible information to individuals about how we will use their personal data is a key element of the EU General Data Protection Regulation (GDPR).

7.2 This Privacy Notice details:

The lawful bases for processing data, who we are, how we use the information about you, marketing consent, what information is collected, why the personal data is required, our data retention periods, and individuals’ rights to personal data. More detailed information can be obtained on request. 

7.3 You must be confident that you understand how your data will be processed. If you require further clarification, please contact us before entering into an Agreement.

7.4 If you have not seen the Privacy Notice, contact us before confirming to this Agreement.

8. Assignments and Third-Party Rights 

8.1 This Agreement is personal to the Client, and a person who is not a party to this Agreement may not enforce any of its terms under the Contracts (Rights of Third Parties) Act 1999.

9. Professional Indemnity 

9.1 The Broker will maintain professional indemnity insurance cover in respect of its business with and on standard terms offered by reputable insurers.

10. Exclusions 

10.1 The Client accepts that the Broker shall have no liability for any economic loss (whether direct, indirect or consequential) insofar asit relates in any way to loss of business, loss of Client data, interruption of business or loss of profits or goodwill because of the manner of performance by the Broker of any obligations arising under the Agreement. This exclusion of liability will not, however, otherwise affect any statutory rights of the Client.

11. Choice of Law 

11.1 The Agreement shall be construed in accordance with English Law, and the parties irrevocably agree to submit to the exclusive jurisdiction of the English Courts.

The following terms are those advised by the US as likely to apply to any Finance Offer. They are subject to your acceptance of the Agreement. When the Agreement has been signed, the Confirmation of Instructions Letter will form a contractual part of it.

Confirmation Instructions 

Note: The Broker cannot guarantee that the set terms will be achieved.

Any lender you select will undertake a thorough examination of the client’s ability to service the loan. This will include approval of accounting and financial information and a valuation for bank purposes or any property offered as security. Approval of this information is at the sole discretion of the Lender (and not the Broker). Several factors, beyond the control of the Broker, may emerge during this process and cause the Lender to weigh, or vary, the terms indicated in this memorandum, which will be revised accordingly.

In addition, funders may require some or all of the following: 

• Suitable insurance on, for example, Buildings, Plant, Machinery, and Stock
• Appropriate life or term assurance, including keyman insurance
• Directors guarantees
• An independent survey or valuation, for bank purposes, of any security
• Detailed financial and accounting information, including bank statements, projections, and accounts
• Independent solicitors to prepare and complete the loan and security document
• Any other information as necessary to show the viability of the application, e.g., Business Plan.

I understand and agree to the Terms of Business and Terms and Conditions.

Let us help you take your business to the next level with tailored, transparent, and trustworthy financial solutions.

Pinnacle Business Finance – Your Trusted Commercial Finance Broker