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What Ratio Money will do for you:
(a) We will assess your bank statements and, if appropriate, pursue on your behalf, a claim for reimbursement of bank charges.
(b) We will provide this service on a "Contingency Fee” basis (except in certain circumstances see Section 5 below on “Cancelling this Agreement"). A "Contingency Fee” is a fee that is only charged if compensation is recovered and is assessed on an agreed percentage of the amount recovered. However, if you do not have your account statements for the last 6 years we will require a cheque made payable to your Bank for the amount of £10 (this consists of a £10 fee that the bank will charge us to make a Data Protection Act 1998 subject access request on your behalf for your bank statements).
(c) We will correspond and negotiate with your bank. We will require you to sign a ‘Letter of Authority’ to facilitate this.
(d) We will inform you of all offers that we receive from the bank; evaluate them and advise you in writing whether we consider it to be in your interests to accept or to reject.
(e) We will forward to you the monies received from the bank, after deduction of our fee agreed pursuant to this Agreement as soon as possible after we have received it.
(f) We will endeavour at all times to provide you with the professional and dedicated service that you deserve. We will use all reasonable skill and care in the performance of your claim for reimbursement of bank charges.
(g) We will always act in your best interests in pursuing your claim and obtaining for you the best results obtainable.
(h) We will return all your papers (including bank statements) following receipt by us of payment of all money owed to us under this Agreement.
(i) We will assist you in completing any of our application, or any subsequent forms which you may be experiencing trouble with.
2. What Ratio Money will NOT do for you:
(a) We will NOT advise you to pursue a claim that in our opinion has no realistic chance of success, or where the amount in issue does not in our opinion justify the likely work involved, and we reserve the right to cancel this Agreement if we form this opinion.
(b) We will NOT advise you to accept an offer that we consider inadequate or to reject an offer that we consider to be reasonable, and we reserve the right to cancel this Agreement if you wish to accept an offer that we consider inadequate or to reject an offer that we consider to be reasonable.
(c) We will NOT accept an offer without your agreement.
(d) We will NOT give or offer you financial advice.
(e) We will NOT advise you whether there is a risk that your bank may close your account after reimbursing your bank charges and whether you should open a second account in anticipation of this happening, but you may consider this to be a prudent step to take.
(f) We will NOT take steps to remove any negative credit entry that your bank may have registered against your name. (g) We will NOT offer Legal Advice directly in the event of your claim going to the court stage we will guide and assist you as far as we can and if needed refer you to a qualified Solicitor for direct legal assistance
3. What we expect from you:
(a) To provide us promptly with all relevant information and items we request to enable us to pursue your claim, including a cheque made payable to your Bank for the amount of £10 (which consists of the £10 fee that the bank will charge us to make a Data Protection Act 1998 subject access request on your behalf for your bank statements).
(b) To provide us with clear instructions.
(c) To cooperate with us (including sending to us any correspondence you receive directly from the bank).
(d) Not to ask us to work in an improper or unreasonable way or to mislead us.
(e) To provide us with the exclusive authority (to the exclusion even of yourself):
(i) to pursue your claim;
(ii) to enter on your behalf into correspondence and negotiations;
(iii) to receive, bank and give valid receipt for your compensation payment;
(iv) to ask the bank to make the cheque payable to ‘Ratio Money Limited so we can bank it, or (if the cheque is instead made payable to you but received by us) to pay it into a treasury account or to retain it pending receipt from you of payment in cleared funds of our fee agreed pursuant to this Agreement and;
(v) (If the cheque is made payable to us or is paid by us into a treasury account) to deduct our fee agreed pursuant to this Agreement before sending to you a Ratio Money Limited cheque for the balance.
(f) (If the cheque is instead sent by the bank to you rather than to us) to pay within 7 days our fee agreed pursuant to this Agreement.
(g) To read all of our terms and conditions and to sign to say that you have understood them.
(h) To retain a copy of our terms and conditions for your own reference.
(i) pay any associated court costs (maximum £220.00 refundable at point of settlement) which may become due should you decide to take your claim through the small claims court , Ratio Money will not offer any Legal Advice, however we will offer you support throughout the process.
4. Our Fee
(a) We will charge you 20% of the total amount paid to you in full and final settlement of the claim made against your bank or any other financial institution. For example on a payout of £1000.00, we would charge a fee of £200.00 to you.
(b) At the outset of your claim, we may require from you a cheque for £10 made payable to your Bank (which consists of administration charges that the bank will charge us to make a Data Protection Act 1998 subject access request on your behalf for your bank statements).
(c) If no payment is received, you pay us nothing except in certain circumstances (see section 5 below on "Cancelling this Agreement").
5. Cancelling this Agreement
(a) We can cancel this arrangement at any time and no fee will be payable by you, if we advise that your claim is unlikely to succeed and if you have not breached your duties set out at section 3 above.
(b) We can cancel this arrangement at any time, but we will have the right to charge you fees (details of which are set out below) for all our work done on your behalf pursuant to this Agreement.
(c) If you have breached your duties set out at paragraph 3 above or
(d) if you accept an offer that we consider inadequate or reject an offer that we consider to be reasonable.
(e) You can cancel this agreement at any time, but we will have the right to charge you fees (details of which are set out below) for all our work done on your behalf pursuant to this Agreement.
(f) If the Agreement is cancelled in circumstances that entitle us to charge you for our work, those fees, if we elect to charge them, will be calculated by multiplying the number of hours (or part thereof) spent by us on your claim by the applicable hourly charging rate of £10 per hour, and time spent will be measured in units of six minutes. We will, however, warn you if we intend to charge such fees and how much they are likely to be. We reserve the right, at our discretion, to waive or reduce any such fees.
(g) Cancellation of this Agreement by either party must be in writing.
(h) There is a 14 day cooling off period in which you may cancel the agreement without any charge other than the £10 Data Protection Act fee, if the last six years statements have been requested within that time limit; or else without any charge if the statements have not been requested. |
