Benefits to Business

Benefits of the Scheme to Business

• Increased consumer confidence and reduced number of complaints.
  
• Recognition of business standards and good practice.
  
• Publicity, advertising, marketing opportunities and use of the Partnership logo.
  
• Provision of information and legal advice on Trading Standards legislation and current issues.
  
• Trading Standards web pages providing links to company details, partnership information and links to businesses websites.
  
• A consumer guide, giving details of the Partnership, will be provided for distribution to customers.
  
• Members will be awarded an annual certificate.
  
• Direct liaison with nominated officers in Trading Standards.
  
• Free assistance and advice on general staff training will be given as appropriate.
  
• Comprehensive training package tailored to specific needs.
  
• Forum meetings will be arranged on an annual basis.
  
• Members of the partnership will be notified of changes in relevant legislation.

Pre Contract Information

• All changes regarding the implementation of pre contract information came from The Consumer Credit (Disclosure of Information) Regulations 2004 and The Consumer Credit (Agreements) (Amendments) Regulations 2004. 
  
• The Regulations stipulate the order that information, statements of protection and remedies, signature and other boxes must be in.
  
• All agreements will have to show a total charge for credit, the rate of interest and a statement explaining how and when interest charges are calculated. 
  
• Terms and conditions will have to be the same size as other information but headings, trade names and the names of the parties can be given more prominence. 
  
• The document must be headed with the words “Pre Contract Information” 
  
• Specific information must be disclosed before an agreement is made. 
  
• Consumers must have a summary of the key features that they can use to help them compare products and select the best.
  
• Pre contract information must be separate from an agreement document although being in the same folder or pack is acceptable.
  
• Lenders may use estimated information where the information that will be included in the agreement is not known. 
  
• All of the information and wording must be of equal prominence apart from the headings. 
  
• The customer must be able to take away the document.