Bolton Business Finance – Terms & Conditions

Defined terms

Appraisal Fee;                  the fee set out in clause 3.1 below

Arrangement Fee;           the fee set out at clause 3.2 hereof

Commencement of         the date on which We commence providing Credit Broking to You as detailed in  this Agreement                        clause 1.1

Completion;                      the date any Finance Agreement with a Lender becomes effective following a Lending Proposal

Credit Broking;                 the Services Which We provide to You under this Agreement

Fees                                     the Appraisal Fee, the Arrangement Fee or the Renewal Fee as the case may be( note no discretionary commission fees are receivable by the Broker in respect of any motor vehicle finance in accordance with the Motor Finance Instrument 2020)  

Finance Agreement;       a loan, credit or hire agreement

 Finance Offer;                 a written offer setting out proposed terms of finance issued by any Lender whether such offer is conditional or unconditional or any replacement thereof

Lender;                               any lender to whom the Lending Proposal is presented. Please note the Broker  

                                           Cannot confirm any proposal forwarded by them on behalf of the Client will be

                                            Accepted by any lender.          

Lending Proposal;           the proposal prepared by Us setting out the requirements recorded in the Confirmation of Instructions provided in accordance with paragraph 1 of the attached Brokers’ Terms and Conditions as varied from time to time and notified to you in writing

Loan Amount;                  the sum of any amounts payable by a Lender to You following the issue of a Finance Offer by that Lender which has been accepted by You

Privacy Notice                  the Notice provided to You about how We process Your personal data (as defined in GDPR)

Renewal Fee                     the fee set out in clause5.1 below.

Services                              the Credit Broking services we provide to You under this Agreement, including the introduction to relevant Lenders via a Lending Proposal prepared using your Confirmation of Instructions to obtain Finance Offers

The Regulated                  the Financial Services and Markets Act 2000(Regulated Activities) Order 2001

Activities Order

You, Your;                         the Client as referred to above

We, Our, Us                      the Broker as referred to above

  1. Appointment of the Broker

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

2.            Standards Statement

2.1         Bolton 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 on the below link.

3.            Appraisal and Arrangement Fees

3.1         Appraisal Fee

In consideration of the appointment, you may be required to pay to us an Appraisal Fee (agreed in advance) in cleared funds, for the purposes of assessing and preparing the Lending Proposal. The Appraisal Fee shall be paid on the Commencement of this Agreement (as detailed in clause 1.1).

3.2         Arrangement Fee

At the point the Finance Offer is made by a Lender to whom We presented a Lending Proposal, You may be required to pay to Us, in addition to the Appraisal Fee in clause 3.1, an Arrangement Fee. Payment of the Arrangement Fee shall be made in cleared funds within 14 days of the date of issue of the Finance Offer by that Lender.

Subject to clause 3.3, You are required to pay the Arrangement Fee once the Finance Offer has been presented to You, regardless of whether or not You accept the Finance Offer and enter into a Finance Agreement with that Lender.

3.3         Refund of Fees etc

3.3.1      Unless the Lending Proposal comprises an application for a Regulated Mortgage Contract or Home Finance Plan (as defined by the Regulated Activities Order), You may be entitled to a refund of the [Appraisal Fees [and] the Arrangement Fee]  if:

  • You do not enter into directly or indirectly any other Finance Agreement with a Lender within a period of 6 months commencing on the date We submit a Lending Proposal, or if there is more than one Lending Proposal submitted by us, the first Lending Proposal; or

(b) within the period referred to in (a) You accept a Finance Offer and enter into a Finance Agreement but exercise a right to withdraw under section 66A of the Consumer Credit Act 1974 or a right to cancel under section 69 of the Consumer Credit Act 1974:

then We shall refund the [Appraisal Fees [and] Arrangement Fee] paid under this Agreement less £5.00 in accordance with clause 3.3.2.

3.3.2      If clause 3.3.1 of this Agreement applies then the refund shall be paid by Us within 30 days of the end of the period referred to in 3.3.1. (a) above or the date upon which it is clear to Us (acting reasonably) that the Finance Offer will not proceed to a Finance Agreement, whichever is sooner.

3.3.3      If the circumstances referred to in clause 3.3.1 apply, and Fees have become due, they will cease to be payable.

3.3.4      For the avoidance of doubt, no Fees are refundable, nor will they cease to be payable, if the Lending Proposal comprises a Regulated Mortgage Contract or Home Finance Plan.

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 this Agreement;

4.1.2      We source Lending Proposals from a panel of lenders and you have been provided with the full details of any payments required by You or received by Us  under all possible proposals put forward by Us. You understand that we may receive a greater level of fees on some products rather than others and that your decision to proceed with a particular product has been made from a position of full disclosure of such details by Us

4.1.3      We may receive commission or other payments from the Lender as well as receiving Fees separately from You pursuant to clause 3.1, 3.2 and 5.1 of this 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. Full disclosure of any such commission payments has been made to You.

4.1.4      You have read the Brokers’ 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.

4.3         You acknowledge that you are aware that We may receive commission from a Lender for the arrangement of a Finance Agreement and You have no objections to Us receiving that commission  .

5             Renewal of this Agreement

5.1         This Agreement shall continue for a period of six months from the date We first submit a Lending Proposal for You at which stage, should You by then have not entered into a Finance Agreement, this Agreement will lapse. Should You then wish to continue receiving Credit Broking, after the lapse of the Agreement, if We have refunded any Fees payable by you under clause 3 above, You may request that We renew this Agreement upon payment of the Renewal Fee to Us of £ [xxx]. The Renewal Fee will be refunded by Us in the same circumstances and on the same conditions as is set out in clause 3.3 above, subject to You being entitled to a refund as provided by that clause. If we have not refunded any Fees under clause 3 above You may request that We renew the Agreement in writing by confirming that we may retain and not refund any Fees paid to date.  If the paid Fees  include an Arrangement Fee, this may be amended depending on any changes to the Loan Amount.

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

5.2.1      the Renewal Fee will be payable in place of the Appraisal Fee (if it has been refunded); and

5.2.2      the Arrangement Fee will become payable (if not already paid), repayable, (if already refunded pursuant to clause 3.3), or may be adjusted (if already paid but on a different Loan Amount) on the making of any new Finance Offer, or if a Finance Offer previously made, has resulted in a Finance Agreement being signed by You.  In these circumstances such payments will be subject to the same terms as to repayment as are set out in clause 3.3.

6                            Mortgage Applications (“Mortgage Only Credit Broking”)

6.1         If Credit Broking pursuant to this Agreement is provided only to enable You to enter into a loan secured by a mortgage over land or property, You will be required to sign a declaration; in that case We are unable to, and will not, submit any other Lending Proposal for You for any form of unsecured Lending.         

If you have requested that we provide Mortgage only Credit Broking and You acknowledge by your signature that we are unable to, and do not offer you, any lending or finance products which do not involve a mortgage over land or property owned by You. We will not provide any other credit broking services to You.


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

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

  1. The Client’s Duty to the Broker
  • You agree to act with the utmost good faith in the provision of information to Us. This duty is continuous and applies to all the information that You provide, whether We have asked for it or whether You have provided it voluntarily. You agree not to withhold relevant information from Us or knowingly mislead Us. 
  •  You agree 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 provided that Finance Offer is not materially different to Your requirements set out in the Confirmation of Instructions and the Lending Proposal..
  • You agree to notify Us if at any time, You intend to appoint an additional or alternate broker or intermediary to obtain an offer of finance. If you do, We shall be entitled to terminate this Agreement forthwith.  In these circumstances to We may still retain any Appraisal Fee paid to Us.
  • If You fail to notify Us that You intend to appoint an alternate or additional broker or intermediary prior to doing so and if a Finance Offer is obtained from any Lender You will pay the Arrangement Fee calculated by reference to the Finance Offer made but otherwise in accordance clause 3.2 of the Agreement, to Us.
  1. Introductory Commission
  • The Lender may pay Us introductory commission in respect of the funding set out in the Finance Offer. If commission is to be paid by the Lender under the terms of lending  and subject to  applicable law , , You will be informed that commission will be paid to us when we make the potential lending facility an option for you and also disclose our associated interest in offering products from that lender and the terms of payment.  Commission paid to Us may vary in amount depending on the Lender or product and that is why we provide all the detail regarding fees we will make under each product available to You.
  • You acknowledge the matters set out under the Client Acknowledgment and have consented to Us receiving and retaining any commission paid and have been made aware of any aspects of the fees received by Us from this Lender and the fees received by Us in respect of each possible finance  product available to You .You acknowledge that it has been Your decision to accept this Finance Offer in full knowledge of any advantage this product may have to Us over any other option available to You. You acknowledge that You have been provided with all charging information available and all risk and liability information attached to every product available and under the Finance Offer.  
  1. Termination
  • 4.1. We may terminate the Agreement by giving 14 days written notice to You.
  1. NACFB Code of Practice/Complaints
  • We agree to act on Your behalf 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 
  • We will investigate and deal with any complaints raised by You concerning the Services provided under this Agreement promptly and reasonably but if We are unable to resolve any complaint to Your satisfaction, the Code of Practice stipulates the procedures available to You including NACFB Mediation.
  • If You are unhappy with Our response to your complaint, and You fall within the Regulated Activities Order, you 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.


  • The Ombudsman will be able to confirm whether he can look at the complaint. If You are entitled to make a complaint to the Ombudsman, then You are not bound to follow any alternative procedure and can make Your complaint to the Ombudsman within the timescales set down by the rules applicable to that scheme, details of which will be provided to You by Us on request.
  1. Amendments
  •  Any amendment whether proposed by the Us or You shall be notified in writing to the other party.  Any amendment proposed by the Us shall take effect on the date specified unless in the meantime You notify Us You wish that amendment to commence on a different date (with reasons) or request an extension of time to consider the amendment. Any such changes to the date specified will be agreed between us as soon as possible after you have notified us that you wish to amend or delay the date specified. Any amendment proposed by You shall take effect when accepted by Us  in writing.
  1. Privacy Notice and Data Protection
  • 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 Your personal data is a key element of the EU General Data Protection Regulation (GDPR) 
  • This Privacy Notice details:

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.

  • You must be confident You understand how your data will be processed. If you require further clarification, please contact Us before entering into an Agreement.
  1. Assignments and third-party rights
  • This Agreement is personal to the You 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.
  • You  shall not assign, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any of Your rights and obligations under this Agreement without Our consent in writing.
  1. Professional Indemnity
  • We will maintain professional indemnity insurance cover in respect of its business with and on standard terms offered by reputable insurers.
  1. Exclusions
  1. You accept that We shall have no liability for any economic loss (whether direct, indirect or consequential) insofar as it 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 Us of any obligations arising under this Agreement.  This exclusion of liability will not, however, otherwise affect any statutory rights You may have as a consumer.
  1. Choice of Law
  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 BrokerBolton Business Finance Ltd
AddressWestgate House, Westgate Avenue, Bolton, Greater Manchester, BL1 4RF

The Broker has been instructed by the Client to obtain an offer of funding from a reputable lending source. The following terms are those advised by the Broker as likely to apply to any Offer of funding. They are subject to the Client’s acceptance of the Broker’s formal Terms of Business Agreement. When the Agreement has been signed by both parties, the Confirmation of Instructions will form a contractual part of the Agreement.       

The Broker cannot guarantee that terms will be achieved, or finance offered.

Any Lender selected by the Broker 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 of 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 refuse weight, or vary, the terms indicated in this memorandum which will be revised accordingly.

In addition, Lenders may require some or all the following, including but not limited to:

  • 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 documents
  • Any other information as necessary to show the viability of the application e.g. Business Plan.