Ecofleet UK Ltd abides by the Financial Conduct Authority (FCA) rules regarding the disclosure of commission.
We receive our income through our panel of funders for the introduction of customers who use our services resulting in the entering into an agreement which is regulated by the Consumer Credit Act through our panel of funders. This is reflected in the monthly lease rate that you pay for your vehicle. These fees may be variable or pre-set dependent on the product, interest rates, and the volume that we place with the chosen supplier / funder.
The FCA expects regulated firms to ensure that customers are aware of the existence and amount of any commission before the credit agreement is entered into if any of the following apply:
- from the customer’s perspective, the commission could have unduly influenced the broker into recommending or offering a particular product
- knowing about the existence or amount of the commission would materially impact the customer’s decision in entering the credit agreement
- the customer has formally requested details of the commission.
What are we required to disclose?
We are required to disclose the existence and nature of commission and upon request the amount of commission we receive for the introduction of a Credit Agreement.
When can a customer request this?
A Customer may ask for commission disclosure at any time from our initial discussions through to the point when their agreement is set live. In line with our company policy, all a commission disclosure shall be provided within 5 business days.
How do I request a commission disclosure?
What to do if you have a complaint
Please visit our Complaints Procedure Page
Reviewed Dec 2021