Terms of Business
Below you can find a copy of our terms of business agreement.
THIS AGREEMENT is made this ______ day of _____Two Thousand and Eight BETWEEN Financial Planning Services (Mortgages) Limited t/a Source Commercial Finance, South Barn, Efford Park, Milford Road, Lymington, Hampshire SO41 0JD (hereinafter called ‘the Broker’) and _____ of ___ (hereinafter called ‘the Client’).
WHEREAS:
1. The Broker is in business as a Commercial Mortgage and Finance Broker.
2. The Client has instructed the Broker to use his best endeavours to obtain for him an amount acceptable to the Client (hereinafter called the Loan). Such a loan to be repaid over such a period and at such rates as shall be acceptable to the Client from whatever source the Broker may provide.
3. In consideration of the Broker’s services the Client has agreed to pay the Broker fees in manner hereinafter appearing.
NOW THIS AGREEMENT WITNESSETH as follows:
1. In consideration of the preliminary administration processing and out of pocket expenses to be incurred by the Broker the Client agrees to pay £ ____ immediately on the signing hereof which is non-refundable.
2. If and when the loan shall be offered the Client shall pay to the Broker a procuration fee of ONE per cent of the loan amount or £1,500 whichever is higher.
We agree to be bound by the terms above. If the Client comprises more than one person the obligations which they undertake can be enforced against them all jointly or against each individually.