Terms & Conditions

When you and we have signed this Agreement, we will transfer the amount you are borrowing to your current account.

We will not transfer the amount you’re borrowing if:

• we become aware of a change in your financial circumstances that means we have reasonable grounds to believe you may have difficulty repaying;

• we discover that any information you have given us in your application is false or significantly misleading; or

• we have reasonable grounds to believe it is necessary to protect you or us from a crime.

  You must not use your loan for any illegal purpose. You must always give us accurate and complete information to the best of your ability regarding this Agreement.

When you borrow from us, you must pay back the amount you borrowed plus interest. Interest under this Agreement is compounded, which means we charge interest on interest.

Unless you are on a payment holiday (see Section 6), we calculate interest at the applicable interest rate shown in this Agreement each day on the total amount you owe until:

• it is repaid; or

• the amount you have already paid together with the amount you still have to pay add up to the Maximum Amount Payable,

whichever happens first.

This means that when the amount you have paid and the amount you still have to pay adds up to the Maximum Amount Payable, we stop charging interest and the interest rate will change immediately to 0% per year (fixed). In other words, the amount of interest you have to pay under this Agreement is capped to the amount of interest calculated on the date of this Agreement.

We also do not charge interest during any payment holiday you may take under this Agreement. During any payment holiday your interest rate will be 0% per year (fixed). Please see Section 6, “Payment holiday”, for details.

When we charge interest:

• we charge interest on interest each day. We add together the daily interest amounts and add them to your account when you make a repayment.; and

• we assume each year has 360 days and each month has 30 days.

At any time, we may reduce the interest rate we charge you. If we do so, we’ll write to tell you about the change beforehand by giving you 7 days’ notice as set out in Section 7, “Changing the terms of your Agreement”. We will not give you advance notice if your interest rate reduces because of the RateDropper, you are on a payment holiday or the amount you have paid plus the amount you still have to pay add up to the Maximum Amount Payable. In each of those circumstances, your interest rate will reduce automatically under the terms of this Agreement.

To calculate the APR you pay, we’ve assumed that:

• you and we keep to this Agreement (e.g. you make all repayments on time) and it lasts for the Agreement term;

• the interest rate (which could go down, under this Agreement) will remain the same for the full Agreement term as applies on the day you and we enter into this Agreement;

• the Agreement is made on the date we give it to you to sign and we transfer the amount you are borrowing to your current account on the Agreement date;

• you make the first repayment on the repayment date you chose during the application process which is in the calendar month following the Agreement date and you make your repayments on the same date of each month after that (and you do not change your repayment date); and

• you do not take a payment holiday (see Section 6 for details).

As long as we have not stopped charging interest under the terms of this Agreement, we charge interest at the rate that applies at the Agreement date for the Agreement term unless you are eligible for a rate drop at Milestone 1. If you make 6 monthly repayments in a row and on time (or at least within 3 days of your repayment dates), you will reach Milestone 1. This means you may be eligible for a RateDrop. If so, the rate set out in this Agreement for Milestone 1 will apply from the 7th business day after the repayment date on which you become eligible for the RateDrop. We will recalculate the remaining monthly repayments based on the reduced rate. Except during any period when we have stopped charging interest under the terms of this Agreement, it will apply until this Agreement ends unless you are eligible for a rate drop at Milestone 2.

If, after you get a rate drop under Milestone 1, you make a further 6 monthly repayments in a row and on time (or at least within 3 business days of your repayment dates), you will reach Milestone 2. This means you may be eligible for a further rate drop. If so, the rate shown in this Agreement for Milestone 2 will apply from the 7th business day after the repayment date on which you become eligible for the rate drop. We will recalculate the remaining monthly repayments based on the reduced rate. Except during any period when we have stopped charging interest under the terms of this Agreement, it will apply until this Agreement ends. 

We stop charging interest under the terms of this Agreement when you are on a payment holiday (see Section 6) or when the amount you have already paid and the amount you still have to pay add up to the Maximum Amount Payable (see Section 2).

When you have reached a Milestone, the reduced interest rate will apply automatically and we will not tell you about it before the rate falls. If you are on a payment holiday when the rate drop would otherwise take effect your reduced interest rate will apply as soon as your payment holiday comes to an end. After a rate drop, we will not increase the interest rate during the rest of your Agreement term. When assessing whether you have met the milestone criteria for a rate drop, we will not include any early repayments you may have made.

If you take a payment holiday (in line with Section 6), we will not regard that payment holiday month as one of the 6 monthly repayments you need to reach one of the Milestones above. For example, if you made your payments on time in January, February and March then took a payment holiday in April, you would need to make your payments in May, June and July to reach the next available Milestone.

When you applied for your loan, you chose your monthly repayment date. You agree to pay us the amount you borrowed, plus interest, in instalments by each monthly repayment date. These repayments are very important. You will break this Agreement if you do not make them. Each repayment is made up of an equal amount of credit and interest.

When you enter into this Agreement, we may give you the option to set up a Direct Debit, as the method for paying your regular monthly repayments. If you choose to pay your regular monthly repayments by Direct Debit, you must still provide us with a continuous payment authority (or ‘CPA’). This is so we can collect your regular monthly repayment if your Direct Debit fails. You can read more about how we use CPAs in the paragraph below headed “CPA”. Setting up a Direct Debit or CPA does not stop you from changing payment method at a later stage. It also does not stop you from paying your regular monthly repayment before its due date or by one or more one-off payments.

Unless your account is in arrears, we will treat any repayments you make before your next repayment date up to

the value of your next repayment as going towards that next repayment. If you pay the full amount of your next repayment before its due date and you have a direct debit in place, then so long as we have enough time before your next repayment is due we will not attempt to collect your direct debit for that repayment. Your direct debit will carry on as normal in the following month.

We will treat any payments you make that exceed your next repayment amount as early settlement payments. Please refer to Section 8, “Repaying the loan early” for details.

If a repayment date in any month is not a Business Day or is a date that does not occur, we will treat your repayment as being due on the next Business Day.

How we use your repayments

When you make a repayment, we will use it to pay your balance in the following order. Firstly, we pay any interest we have charged you. Secondly, we pay the rest towards the balance of the amount you have borrowed. If you are in arrears, we will always apply any payment you make to pay off your arrears before any amount which is not yet due.

CPA

If you set up CPA as the primary method by which you make your monthly repayments, you give us consent to collect your monthly repayments using your debit card that is connected to your current account.

If you opt to pay your monthly repayments by Direct Debit and your Direct Debit fails, you give us consent to collect your overdue monthly repayment using your debit card that is connected to your current account.

This is called a continuous payment authority (or “CPA”). It is a payment method that enables us to use the card details of the card connected to your current account to take payments due under this Agreement from your current account. We cannot use a CPA unless we have your consent to do so. You can cancel your CPA and withdraw your consent to our using it at any time by contacting us by calling us on 01202 084527 or emailing [email protected].

If you do not pay your regular monthly repayment by its due date, you give your consent to our attempting to collect it by CPA once your payment due date has passed.

If we have your consent to take payment by CPA, we will only use it in the following way:

• We will attempt to collect payment by CPA if you agree to it and your regular monthly repayment remains unpaid after its payment date has passed.

• We will attempt to collect your overdue repayment amount by CPA within 4 Business Days after its due date. If that fails, we may try once more to collect your repayment in the following 13 Business Days. If this is unsuccessful, we will make reasonable attempts to contact you to understand why and find out when you can make it.

• We will never attempt to take more using a CPA than the amount of your regular monthly repayment amount. If you owe us more than that amount, for example because you have missed more than one repayment, we will only attempt to collect the amount of one regular monthly instalment repayment using a CPA. You will have to pay the extra amounts that are overdue by contacting us by phone or email. If you owe us less than the amount of your regular monthly repayment amount, we may use your CPA to collect that lower amount.

For your security, we need to verify your debit card against the details you’ve provided. For this ‘pre-authorisation’ check, your account must have at least 1p available. This check is not a charge and we will not take any money from your account. The amount may show as a pending transaction but will be available again within a few days. When the loan is active, we may repeat this process regularly throughout your Agreement term to ensure the card is still valid. By entering into this Agreement, you consent to us carrying out these pre-authorisation checks.

After you have made your first repayment, you can change your repayment date subject to the following conditions:

• You can only change your repayment date if you are up to date with your repayments or no more than 3 days late in making a repayment.

• You must give us at least 5 Business Days’ notice of any repayment date change.

• You may change your repayment date by making it earlier as many times as you want provided all of the other conditions above are satisfied.

• You may only move your repayment date further away once in any rolling 12-month period by a maximum of 10 days (e.g. if your repayment date is 12 June, you can change your next repayment date to 22 June as a maximum).

You can contact us by email at [email protected] to let us know you wish to exercise your right to change your repayment date.

You will be eligible to take a payment holiday if:

• you have made at least 6 monthly repayments in a row in full and on time (or at least within 3 calendar days of your repayment dates);

• you are not in arrears;

• you give us at least 5 Business Days’ notice before your next repayment due date; and

• you have not taken a payment holiday in the previous 12 months.

On the seventh business day after making your sixth repayment (in a row and on time) you’ll have the ability to have your payment holiday approved and booked.

You will only be able to take a payment holiday for your next monthly repayment. If you take a payment holiday, the following will happen:

• Your next monthly repayment will not fall due on the normal repayment date and we will not seek to take repayment from you. Your next repayment will be due on the same day in the following month.

• The Agreement term will increase by one month.

• Interest will not accrue during the payment holiday period. This means your interest rate will be 0% per year during a payment holiday period.

We may change the terms of this Agreement. We will tell you about any changes we make. We may make reasonable and proportionate changes to take account of:

• changes in the cost of providing this service to you;

• changes, or predicted changes, in legal or other requirements that affect us; and

• any changes to our system or product development.

We’ll give you at least 7 days’ notice by sending you a separate written notice or e-mail of any change.

If we change the Agreement’s terms and you do not wish to continue with it under the changed terms, you are free to end it by paying us everything you owe at that time. You will not have to pay any extra interest or charges for doing so. Note that you also have the right to repay what you owe early at any time in line with Section 8.

You have the right to pay off some or all of the money you owe us at any time. You must give us notice that you want to do this.

If you want to pay off the amount you owe in full, you must tell us the date on which you plan to do this. You can contact us by email at [email protected], by phone on 01202 084527 or in writing at RewardRate, 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP. If you want to pay off the loan in full, we will send you a settlement statement saying what you owe. We may charge you up to 28 days’ extra interest. You can make an early settlement payment by any of the methods Amigo accepts, including a card payment or bank transfer. When you make a partial repayment, we will first use it to pay any arrears or overdue interest. We will then apply it to reduce the Agreement term. The amounts of your monthly repayments will be unchanged except that the last may be less than your usual repayment amount, depending on how much you repay early.

You can end this Agreement at any time by telling us you wish to do so and paying all amounts due. We will give you an early settlement statement showing you how much you have to pay.

We may end this Agreement early if:

In such cases, we will send you whatever notice we must give you by law. When that notice expires, we may:

The Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN is the supervisory authority under the Consumer Credit Act 1974. Financial Conduct Authority permission number 557709.

We are registered with the Information Commissioner’s Office, number Z8738456.

We’re committed to dealing with all complaints, fully and fairly, and in a reasonable time. If you have a complaint about this Agreement or anything we’ve done, please let us know. You can make a complaint over the phone by calling us, on our website at www.rewardrate.com or by writing to RewardRate Complaints, 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP.

You have a right to refer your complaint to the Financial Ombudsman Service, Exchange Tower London, E14 9SR, by email to [email protected], by phone on 0800 023 4567 or online at: https://www.financial- ombudsman.org.uk/contact-us/complain-online.

Unless interest is not being charged under the terms of this Agreement,, the interest rate shown in this Agreement will continue to apply to the money you owe, both before and after any court judgment. (Your obligation to pay interest is independent of and does not merge with the judgment.)

You agree that if any part of this Agreement is not valid or cannot be enforced, this will not affect any other part of this Agreement.

This Agreement applies only to you. You may not transfer it or any of your rights and responsibilities under it. For business reasons, we may transfer our rights under this Agreement without your permission. This will not take away any of your rights or responsibilities under it.

You have the right to receive a statement of account. You can ask for this at any time during the Agreement term and it is free of charge. It will include details of each repayment you owe, the date each repayment is due, the amount and any conditions that relate to the repayment. It will also break down each repayment, showing how much covers the amount you borrowed (capital) and how much is interest. The statement will say that the information in it is valid only for as long as the interest rate does not change.

If we delay in enforcing our rights under this Agreement, it will not affect our rights. We may also accept late repayments or partial repayments, or cheques and money orders marked “payment in full” or similar, without losing any of our rights under this Agreement.

This section only applies to you if you came to us through a broker or credit intermediary (‘broker’). We may pay your broker a commission (for introducing you to us) on the amount you borrowed. The exact fee we pay to your broker is shown under “Credit intermediary fee” near the start of this Agreement. By signing this Agreement, you give us authority to pay your broker this amount. We will not add this commission to your Account.

Every so often, we need to contact you about your Account. To make sure we can do this, you must tell us (within 7 business days) if you’ve changed your home address, your name, your email address, or any phone number we use to contact you.

If you get a new debit card, you should also give us the updated details as soon as possible.

You can update your details by email or phone. If we need to contact you, we’ll send all notices, information and statements to your last known address, which will be the address shown on this Agreement unless we know you have moved. We may send some notices via email or text message instead.

If you have chosen to go paperless, we may send you certain documents electronically in line with our Electronic Consent Statement. You can change your mind about going paperless at any time. To withdraw your consent, please call us or email [email protected].

We may record or monitor phone calls for training and monitoring purposes.

English law governs this Agreement unless you live in another part of the UK, in which case this Agreement is governed by the law in that part of the UK. Court proceedings regarding this Agreement should be started in the county court in England and Wales, the sheriff court if you live in Scotland, or the county court if you live in Northern Ireland.

The language used in this Agreement and any communication with us will be English.

eligibility for a loan and to make credit decisions about you.

For general information on your rights regarding the information we hold about you, please visit: www.ico.org.uk/for- the-public/

‘Account’ means the RewardRate account we open in your name when we sign this Agreement.

‘Agreement’ means the consumer credit agreement regulated by the Consumer Credit Act 1974 that you enter into with us (RewardRate) for a personal loan.

‘Business Day’ means a day, other than a Saturday, Sunday or bank holiday, on which banks are open in London.

‘Maximum Amount Payable’ means the maximum amount you will be required to pay under the terms of this Agreement. It is the figure set out on the front page of this Agreement which is identified as the total amount you will have to pay. It consists of the amount you have borrowed plus the amount of interest calculated on the day you enter into this Agreement based on the assumptions set out in it.

‘we’, ‘us’ and ‘our’ mean Amigo Loans Ltd.

‘you’ and ‘your’ mean the person who is borrowing the loan from us, whose name and signature appear on the consumer credit agreement.

Amigo Loans Ltd trading as RewardRate. Authorised and regulated by the Financial Conduct Authority. Registered in the UK, company registration number 04841153. Registered Office: 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP. Registered with the Information Commissioner’s Office, number Z8738456. Financial Conduct Authority permission number 708284. VAT number 945758376.

When you and we have signed this Agreement, we will transfer the amount you are borrowing to your Guarantor’s current account. Your Guarantor will then be responsible for paying you the amount you’re borrowing.
We will not transfer the amount you’re borrowing if:

• we become aware of a change in your financial circumstances that means we have reasonable grounds to believe you may have difficulty repaying;

• we discover that any information you have given us in your application is false or significantly misleading; or

• we have reasonable grounds to believe it is necessary to protect you or us from a crime.

  You must not use your loan for any illegal purpose. You must always give us accurate and complete information to the best of your ability regarding this Agreement.

When you borrow from us, you must pay back the amount you borrowed plus interest. Interest under this Agreement is compounded, which means we charge interest on interest.

Unless you are on a payment holiday (see Section 6), we calculate interest at the applicable interest rate shown in this Agreement each day on the total amount you owe until:

• It is repaid or

• the amount you have already paid together with the amount you still have to pay add up to the Maximum Amount Payable,

As long as we have not stopped charging interest under the terms of this Agreement, we charge interest at the rate that applies at the Agreement date for the Agreement term unless you are eligible for a rate drop at Milestone 1. If you make 6 monthly repayments in a row and on time (or at least within 3 days of your repayment dates), you will reach Milestone 1. This means you may be eligible for a RateDrop. If so, the rate set out in this Agreement for Milestone 1 will apply from the 7th business day after the repayment date on which you become eligible for the RateDrop. We will recalculate the remaining monthly repayments based at the reduced rate. Except during any period when we have stopped charging interest under the terms of this Agreement, it It will apply until this Agreement ends unless you are eligible for a rate drop at Milestone 2.

If, after you get a rate drop under Milestone 1, you make a further 6 monthly repayments in a row and on time (or at least within 3 days of your repayment dates), you will reach Milestone 2. This means you may be eligible for a further rate drop. If so, the rate shown in this Agreement for Milestone 2 will apply from the 7th business day after the repayment date on which you become eligible for the rate drop. We will recalculate the remaining monthly repayments based on the reduced rate. Except during any period when we have stopped charging interest under the terms of this Agreement, it will apply until this Agreement ends. When you have reached a Milestone, the reduced interest rate will apply automatically and we will not tell you about it before the rate falls. If you are on a payment holiday when the rate drop would otherwise take effect your reduced interest rate will apply as soon as your payment holiday comes to an end. After a rate drop, we will not increase the interest rate during the rest of your Agreement term. When assessing whether you have met the milestone criteria for a rate drop, we will not include any early repayments you may have made.

If you take a payment holiday (in line with Section 6), we will not regard that payment holiday month as one of the 6 monthly repayments you need to reach one of the Milestones above. For example, if you made your payments on time in January, February and March then took a payment holiday in April, you would need to make your payments in May, June and July to reach the next available Milestone.

When you applied for your loan, you chose your monthly repayment date. You agree to pay us the amount you borrowed, plus interest, in instalments by each monthly repayment date. These repayments are very important. You will break this Agreement if you do not make them. Each repayment is made up of an equal amount of credit and interest.

When you enter into this Agreement, we may give you the option to set up a Direct Debit, as the method for paying your regular monthly repayments. If you choose to pay your regular monthly repayments by Direct Debit, you must still provide us with a continuous payment authority (or ‘CPA’). This is so we can collect your regular monthly repayment if your Direct Debit fails. You can read more about how we use CPAs in the paragraph below headed “CPA”.

Setting up a Direct Debit or CPA does not stop you from changing payment method at a later stage. It also does not stop you from paying your regular monthly repayment before its due date or by one or more one-off payments.

Unless your account is in arrears, we will treat any repayments you make before your next repayment date up to
the value of your next repayment as going towards that next repayment. If you pay the full amount of your next repayment before its due date and you have a direct debit in place, then so long as we have enough time before your next repayment is due we will not attempt to collect your direct debit for that repayment. Your direct debit will carry on as normal in the following month.

We will treat any payments you make that exceed your next repayment amount as early settlement payments.

Please refer to Section 8, ‘Repaying the loan early’, for details.

If a repayment date in any month is not a Business Day or is a date that does not occur, we will treat your repayment as being due on the next Business Day.

Your obligation to repay is secured by your Guarantor’s Guarantee & Indemnity. This means your Guarantor has agreed to pay the sums due under this Agreement if you do not repay them. If we cannot collect one or more monthly repayments from you, we may seek payment from your Guarantor.

When you make a repayment, we will use it to pay your balance in the following order. Firstly, we pay any interest we have charged you. Secondly, we pay the rest towards the balance of the amount you have borrowed. If you are in arrears, we will always apply any payment you make to pay off your arrears before any amount which is not yet due.

If you set up CPA as the primary method by which you make your monthly repayments, you give us consent to collect your monthly repayments using your debit card that is connected to your current account.

If you opt to pay your monthly repayments by Direct Debit and your Direct Debit fails, you give us consent to collect your overdue monthly repayment using your debit card that is connected to your current account.

This is called a continuous payment authority (or ‘CPA’). It is a payment method that enables us to use the card details of the card connected to your current account to take payments due under this Agreement from your current account. We cannot use a CPA unless we have your consent to do so. You can cancel your CPA and withdraw your consent to our using it at any time by contacting us by calling us on 01202 084527 or emailing [email protected].

If you do not pay your regular monthly repayment by its due date, you give your consent to our trying to collect it by CPA once your payment due date has passed.

If we have your consent to take payment by CPA, we will only use it in the following way:

After you have made your first repayment, you can change your repayment date subject to the following conditions:

• You can only change your repayment date if you are up to date with your repayments or no more than 3 days late in making a repayment.

• You must give us at least 5 Business Days’ notice of any repayment date change.

• You may change your repayment date by making it earlier as many times as you want provided all of the other conditions above are satisfied.

• You may only move your repayment date further away once in any rolling 12-month period by a maximum of 10 days (e.g. if your repayment date on 12 June, you can change your next repayment date to 22 July as a maximum).

You can contact us by email at [email protected] to let us know you wish to exercise your right to change your repayment date.

You will be eligible to take a payment holiday if:

• you have made at least 6 monthly repayments in a row in full and on time (or at least within 3 days of your repayment dates);

• you are not in arrears;

• you give us at least 5 Business Days’ notice before your next repayment due date; and

• you have not taken a payment holiday in the previous 12 months.

  You will only be able to take a payment holiday for your next monthly repayment. If you take a payment holiday, the following will happen:

• Your next monthly repayment will not fall due on the normal repayment date and we will not seek to take repayment from you. Your next repayment will be due on the same day in the following month.

• The Agreement term will increase by one month.

• Interest will not accrue during the payment holiday period. This means your interest rate will be 0% per year during a payment holiday period.

0. We may change the terms of this Agreement. We will tell you about any changes we make. We may make reasonable and proportionate changes to take account of:

You have the right to pay off some or all of the money you owe us at any time. You must give us notice that you want to do this.

If you want to pay off the amount you owe in full, you must tell us the date on which you plan to do this. You can contact us by email at [email protected], by phone on 01202 084527 or in writing at RewardRate, 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP. If you want to pay off the loan in full, we will send you a settlement statement saying what you owe. We may charge you up to 28 days’ extra interest. You can make an early settlement payment by any of the methods Amigo accepts, including a card payment or bank transfer. When you make a partial repayment, we will first use it to pay any arrears or overdue interest. We will then apply it to reduce the Agreement term. The amounts of your monthly repayments will be unchanged except that the last may be less than your usual repayment amount, depending on how much you repay early.

Your Guarantor may also repay some or all of the money you owe early at any time on your behalf. You agree to them making any early repayments. If your Guarantor does this, we will charge them interest in line with this section.

We may also take court action against you or your Guarantor (or both). If we obtain judgment, we may apply for an attachment of earnings order (where we have the court’s permission to get your employer to pay us out of your salary), warrant of execution (which may involve a bailiff visiting your property), property charging order (where we get rights to be paid out of the money paid when you sell your property) or the Scotland and Northern Ireland equivalents. You must pay our reasonable costs and legal expenses in enforcing our rights under this Agreement.

We’re committed to dealing with all complaints fully and fairly, and in a reasonable time. If you have a complaint about this Agreement or anything we’ve done, please let us know. You can make a complaint over the phone by calling us, on our website at www.rewardrate.com or by writing to RewardRate Complaints, 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP.

You have a right to refer your complaint to the Financial Ombudsman Service, Exchange Tower London, E14 9SR by email to [email protected]. by phone on 0800 023 4567 or online at https://www.finacial-ombudsman.org.uk/contact-us/complain-online.

Unless interest is not being charged under the terms of this Agreement, the interest rate shown in this Agreement will continue to apply to the money you owe, both before and after any court judgment. (Your obligation to pay interest is independent of and does not merge with the judgment.)

You agree that if any part of this Agreement is not valid or cannot be enforced, this will not affect any other part of this Agreement.

This Agreement applies only to you. You may not transfer it or any of your rights and responsibilities under it. For business reasons, we may transfer our rights under this Agreement without your permission. This will not take away any of your rights or responsibilities under it.

You have the right to receive a statement of account. You can ask for this at any time during the Agreement term and it is free of charge. It will include details of each repayment you owe, the date each repayment is due, the amount and any conditions that relate to the repayment. It will also break down each repayment, showing how much covers the amount you borrowed (capital) and how much is interest. The statement will say that the information in it is valid only for as long as the interest rate does not change.

If we delay in enforcing our rights under this Agreement, it will not affect our rights. We may also accept late repayments or partial repayments, or cheques and money orders marked “payment in full” or similar, without losing any of our rights under this Agreement.

This section only applies to you if you came to us through a broker or credit intermediary (“broker”). We may pay your broker a commission (for introducing you to us) on the amount you borrowed. The exact fee we pay to your broker
is shown under “Credit intermediary fee” near the start of this Agreement. By signing this Agreement, you give us authority to pay your broker this amount. We will not add this commission to your Account.

Every so often, we need to contact you about your Account. To make sure we can do this, you must tell us (within 7 business days) if you’ve changed your home address, your name, your email address, or any phone number we use to contact you.

If you get a new debit card, you should also give us the updated details as soon as possible.

You can update your details by email or phone. If we need to contact you, we’ll send all notices, information and statements to your last known address, which will be the address shown on this Agreement unless we know you have moved. We may send some notices via email or text message instead.

If you have chosen to go paperless, we may send you certain documents electronically in line with our Electronic Consent Statement. You can change your mind about going paperless at any time. To withdraw your consent, please call us or email [email protected].

We may record or monitor phone calls for training and monitoring purposes.

English law governs this Agreement unless you live in another part of the UK, in which case this Agreement is governed by the law in that part of the UK. Court proceedings regarding this Agreement should be started in the county court in England and Wales, the sheriff court if you live in Scotland, or the county court if you live in Northern Ireland.

The language used in this Agreement and any communication with us will be English.

It is important that you understand how we use the personal information you give us. We strongly advise you to visit www.rewardrate.com/docs/privacy-policy/ to find out more about this, if you haven’t already. This includes an explanation of how we will use credit reference agencies, for example to check your identity, eligibility for a loan and to make credit decisions about you.

For general information on your rights regarding the information we hold about you, please visit: www.ico.org.uk/for- the-public/

Before you agree to provide this Guarantee & Indemnity, you should read the pre-contract credit information we have given you. Its contents are important.

We will pay you the loan amount for you to pay to the Borrower – this is to prevent fraud.

In return for our entering into the Agreement with the Borrower, you irrevocably and unconditionally agree to pay the Borrower the loan amount when you receive it from us. You also:

• agree that if the Borrower fails to make any payment due under or otherwise to meet their responsibilities under the Agreement on time, you will immediately upon demand pay that money to us or meet those responsibilities as if you were the Borrower under the Agreement;

• guarantee to us the payment of all money owed by the Borrower under the Agreement including the amount borrowed, all interest accruing on that amount, all costs, charges and expenses incurred by us regarding the sums owing under the Agreement; and

• guarantee to carry out all the Borrower’s responsibilities under the Agreement if they fail to do so, together with all costs, charges and expenses we incur regarding those obligations.

  As well as the points above, and as a separately enforceable obligation, you will indemnify (compensate) us and keep us indemnified against all and any losses, claims, damages, costs or expenses we incur regarding:

• the Agreement or any of the Borrower’s responsibilities under the Agreement;

• the Borrower’s failure to pay or perform any of their responsibilities under the Agreement on the date they are due.

If the Borrower breaks any term of the Agreement or you break a term of this Guarantee & Indemnity, we may send the Borrower a default notice (and send you a copy). When the notice expires we may:

This Guarantee & Indemnity is a continuing guarantee. It covers all sums due, all the Borrower’s responsibilities under the Agreement and your responsibilities under this Guarantee & Indemnity. It continues until all the Borrower’s responsibilities under the Agreement have been met and paid in full.

This Guarantee & Indemnity (and your obligations under it) are not affected by anything done or not done that might reduce or release you from any obligations under this Guarantee & Indemnity. For example, your obligations will not be affected by the following:

• Any forbearance we grant the Borrower that allows them to repay less than the amount due under the Agreement or gives them longer to repay, or by which we agree to release from responsibility or not sue you or the Borrower.

• Any other guarantee or security we take regarding the Borrower’s responsibilities under the Agreement.

• Our failure to take any guarantee or security regarding the Borrower’s responsibilities under the Agreement.

• To the extent allowed by law, any failure by us to observe any requirement regarding any document or agreement, or any failure by us to convert the full value of any security into money.

• Any change to, or replacement of, the Agreement, any security or any agreement or document providing for or entered into regarding the Borrower’s responsibilities under the Agreement.

• To the extent allowed by law, any unenforceability or invalidity of any obligation of you or the Borrower.

• Any incapacity (including death or insanity) or lack of power or authority of you or the Borrower.

• You or the Borrower becoming bankrupt or insolvent, or entering into any formal or informal arrangement with their creditors, or being subject to a debt relief order (or similar).

• Our transfer of our rights and obligations under the Agreement.

If we accept a payment from you or the Borrower that is later set aside or has to be reimbursed as a result of your or the Borrower’s insolvency, we may seek to recover from you all sums due under this Guarantee & Indemnity as if that payment had not been made.

You give us consent to collect repayments using your debit card that may be connected to your current account. This is called a continuous payment authority (or “CPA”). It is a payment method that enables us to use the card details that may be connected to your current account to debit payment due under the Agreement and this Guarantee & Indemnity from your current account.

We cannot use a CPA unless we have your consent to do so. You can cancel your CPA and withdraw your consent to our using it at any time by calling us or emailing [email protected]. You can make your payments by other means such as direct debit or by a one-off card payment.

If the Borrower fails to pay the full monthly payment on the due date, you give us consent to use your CPA as follows. We will never attempt to collect more using a CPA than the amount of the Borrower’s regular monthly repayment amount. If the Borrower owes us more than that amount, for example because they have missed more than one repayment, we will only attempt to collect the amount of one regular monthly repayment using your CPA. You will have to pay the extra amounts that are overdue by contacting us by phone or email. Although we charge interest on missed payments, we will never charge more interest in total than the total interest amount stated on the first page of the Agreement. If the Borrower owes us less than the amount of their regular monthly repayment amount, we may use your CPA to collect that lower amount.

We will exercise the rights under the CPA on the day before the Borrower’s next repayment is due (unless we give you notice that we will delay exercising the rights under the CPA). If that is unsuccessful, we will try again on the day before the next repayment is due.

We do not apply default charges under the Agreement and will not collect any using your CPA.
For your security, we need to verify your debit card against the details you’ve provided. For this ‘pre-authorisation’

check, your account must have at least 1p available. This check is not a charge and we will not take any money from your account. The amount may show as a pending transaction but will be available again within a few days. Once the loan is active, we may repeat this process regularly throughout the loan term to ensure the card is still valid. By entering into this Guarantee & Indemnity, you consent to us carrying out these pre-authorisation checks.

If you want to make voluntary payments to help the Borrower repay their loan early, you can do so. You can pay all of part of their balance at any time. You can do this by calling us or emailing [email protected].

If you want to repay the entire balance early, we may charge an extra 28 days’ interest.

You can make partial early repayments. We will treat as early payments any payments you make that exceed the amount of the next monthly payment due.

Do not act as a Guarantor unless you are sure you know exactly what the obligations are that you are taking on. We strongly recommend that you take independent legal advice from a solicitor or your local Citizens’ Advice Bureau.

Every so often, we need to contact you about this Guarantee & Indemnity. To make sure we can do this, you must tell us as soon as you reasonably can if you changed your home address, your name, your email address, or any phone number that we use to contact you.

You can tell us about any change by emailing us at [email protected] or by phone.

If we need to contact you, we’ll send all notices, information and statements to your last known address as shown on this Guarantee & Indemnity, unless we know that you have moved. We may send some notices via email, text message or phone instead.

If you have chosen to go paperless, we may send you certain documents electronically in line with our Electronic Consent Statement. You can change your mind about going paperless at any time. To withdraw your consent, please call us or email [email protected].

If you get a new payment card, you should give us the updated details.

You agree that if any part of this Guarantee & Indemnity is not valid or cannot be enforced, it will not affect any other part of it. If we do not exercise any of our rights or remedies under this Guarantee & Indemnity or any other agreement (or delay doing so), this does not act as a waiver. So, even if we do not insist on our full rights under this Guarantee & Indemnity for any reason, we may do in the future.

This Guarantee & Indemnity may be signed by you and us on different copies. Each copy is an original. All copies together are a single Guarantee & Indemnity. We may send you a copy of this Guarantee & Indemnity by email.

We calculate the amount and you must make all payments due to us under this Guarantee & Indemnity without any deduction for set-off or counterclaim.

If we release you from all or some of your obligations under this Guarantee & Indemnity, it will be on the basis that we have not set aside or made void any:

• right we have; or

• payment paid or due to us.

  If any right or amount is held to be void or set aside, we may later try to enforce this Guarantee & Indemnity against you in full as if we had not released you from any of your obligations.

This Guarantee & Indemnity applies only to you. You may not transfer any of your rights or obligations under it. For

business reasons, we may transfer our rights without your permission. This will not take away any of your rights or obligations under this Guarantee & Indemnity.

A person who is not a party to this Guarantee & Indemnity has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy the benefit of any of its terms.

You must pay us the amount of all costs and expenses (including legal fees and any VAT) we incur regarding the enforcement of, or preservation of, any of our rights under this Guarantee & Indemnity on a full indemnity basis. This means you must pay them in full.

We may record or monitor phone calls.

We’re fully committed to dealing with all complaints fully and fairly, and in a reasonable time. If you have a complaint about the Guarantee & Indemnity or anything we’ve done, please let us know. You can make a complaint over the phone by calling us, or by emailing us at [email protected] or by writing to RewardRate Complaints, 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP.

You have a right to refer your complaint to the Financial Ombudsman Service, Exchange Tower, London, E14 9SR, online at https://www.financial-ombudsman.org.uk/contact-us/complain-online, by phone on 0800 023 4567 or by email to [email protected].

The Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN is the supervisory authority under the Consumer Credit Act 1974. Financial Conduct Authority permission number 557709.

We are registered with the Information Commissioner’s Office, number Z8738456.

‘Account’ means the RewardRate account we open(ed) in the Borrower’s name when signing the Borrower’s Agreement.

‘Agreement’ means the credit agreement entered into or to be entered into between RewardRate and the Borrower on or about the date of this Guarantee & Indemnity. Its details are stated on the first page of this Guarantee & Indemnity.

‘Borrower’ means the person who is borrowing the loan from RewardRate under the Agreement, as stated on the first page of this Guarantee & Indemnity.

‘Tax’ means any tax or similar charge (including any penalty or interest payable for any failure to pay or delay in paying it).

‘we’, ‘us’ and ‘our’ mean Amigo Loans Ltd (trading as RewardRate) (and anyone we transfer this Guarantee & Indemnity to).

‘you’ and ‘your’ mean the person whose name appears on the Guarantee & Indemnity and who has agreed to guarantee, among other things, the full repayment to us of the Borrower’s loan if the Borrower fails to meet any payments due.

Amigo Loans Ltd trading as RewardRate. Authorised and regulated by the Financial Conduct Authority. Registered in the UK, company registration number 4841153. Registered Office: 11a Avenue Centre, Commercial Road, Bournemouth, Dorset, BH2 5RP. Registered with the Information Commissioner’s Office, number Z8738456. Financial Conduct Authority, firm reference number 708284. VAT number 945758376.