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Customer information and commission disclosure

KAM Consulting (Glasgow) Ltd is an Introducer Appointed Representative of Forward Asset Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630723). We can only introduce you to Forward Asset Finance Limited and do not give advice. The information below is provided by Forward Asset Finance Limited and applies when we introduce you to them for finance.

What are my responsibilities as a customer?

In order for us to fulfil our responsibilities to you, you must:

Do I have to have a Credit Check?

Yes, the funder who supplies the vehicle lease will conduct a credit check on you before they agree to lease you the vehicle. The funder will do the credit check with a credit reference agency. This will leave a record on your credit file and could affect your ability to get approved for credit in the future.

Before we pass your details to the funder for them do the credit check, we will check that the monthly payments are affordable for you. We do this by asking you to provide us with details of your monthly income and expenses and calculating how much money you have left at the end of the month, known as ‘disposable income’. This affordability check will not leave a footprint on your credit record.

If the first funder we approach on your behalf rejects your credit proposal, we may approach another funder for credit. We will only do this where relevant and with your permission. This may result in more than one credit search being recorded on your credit file. The funder may also ask for more information to complete the credit check.

If you do not make your payments each month, this may affect your credit rating and could result in the funder repossessing the vehicle or taking action through the Sheriff Court. This may also affect your chances of being accepted for credit in future. The funder may impose an administration penalty fee for late payment of monthly rentals.

What fees will I pay?

We do not charge you a fee for arranging your finance. Our income comes from the commission we receive from the funder for introducing your business to them, which is explained in the section below.

If we ever needed to charge a fee for a particular order, we would tell you the amount and what it covers before you commit, so that you can make an informed decision.

Do you receive commission?

Yes, we will receive a fixed and/or variable commission which is agreed between us and the funder we introduce you to. Forward Asset Finance Limited is an independent credit broker, not a funder. We work with a range of selected funders. The commission or fees we earn does not influence our decision on who we introduce you to. The commission we receive is included in the price you pay. You can ask for information about the commission we receive for introducing you to the funder, including the amount, by emailing us at any time at enquiries@forwardassetfinance.co.uk.

Delivering Good Customer Outcomes

We always aim to treat customers fairly and act to deliver good outcomes for our customers. We pride ourselves on offering the best combination of advice, products, competitive pricing and outstanding service. We endeavour to conduct our business with skill, care and integrity, be transparent, respect your confidentiality and not put ourselves in a position where our duty to you is compromised.

We put our customers’ interests at the heart of our activities. We focus on the outcomes our customers get to better enable you to access and assess relevant information, and to act to pursue your financial goals.

We will ensure we have sufficient understanding of our customers’ behaviour and how the products function to be able to show that the outcomes that would reasonably be expected are being achieved by our customers.

We will ensure that:

Where we find that good outcomes are not being achieved, we will act to address this by putting in place processes to tackle the factors that are leading to poor outcomes, and consistently and regularly challenge ourselves to ensure our actions are compatible with delivering good outcomes for our customers.

Our full Consumer Duty Policy can be found on our website.

Can I cancel my order?

If your agreement is a regulated consumer credit or consumer hire agreement (for example, where you are an individual, sole trader or small partnership), you have a statutory right to withdraw from the agreement within 14 days, as set out in your agreement and the pre-contract information provided by the funder. A cooling-off period does not apply to unregulated agreements, such as those with a limited company or large partnership. By completing the accompanying documents, you confirm that you understand which type of agreement you are entering into and agree to these conditions.

In the event that an order is cancelled prior to delivery, we may charge a cancellation fee to cover any costs that may be incurred from dealers, manufacturers, or any other losses incurred by Forward Asset Finance Limited for processing the deal up to the point of cancellation. In our experience, cancellation fees are generally in the region of between £250 and £500. Cancellation fees will be dependent on a number of factors which are outlined below:

Cancellation charges will be calculated based on an evaluation of these points. You will then receive a full breakdown of the calculation of the cancellation charges incurred, if any.