Terms of Business

Financial Compensation Centre Limited

1) The services provided by Financial Compensation Centre Limited (hereinafter FCC Ltd) shall consist of:

  • 1.1) Evaluating your claim in respect of mis-sold financial products and if appropriate pursue a claim for the recovery of your loss.
  • 1.2) Dealing with all aspects of your claim including correspondence and any negotiations with your bank.
  • 1.3) We will advise you of all offers that we receive to settle your claim and inform you whether we consider the offer acceptable or not.
  • 1.4) Should it be required we will pursue your claim with the Financial Ombudsman Service (F.O.S.) or the Financial Services Compensation Scheme (F.S.C.S.). There will be no additional charge for this.
  • 1.5) If the compensation amount from the bank is paid to FCC Ltd we will deduct our fee and forward the balance to you immediately.

2) What FCC Ltd will not do:

  • 2.1) Provide any legal or financial advice, other than in relation to mis-sold financial products.
  • 2.2) Accept any offer of compensation on your behalf without your agreement.
  • 2.3) Pursue any claim that we believe will not succeed.
  • 2.4) Take your complaint to court.

3) What FCC Ltd require of you:

  • 3.1) Provide us with the exclusive authority to act on your behalf in the pursuit of your claim.
  • 3.2) Your consent to correspond and negotiate with the bank on your behalf.
  • 3.3) Your consent to request that any compensation cheque be made payable to FCC Ltd and that we may deduct our fee before forwarding the balance to you.
  • 3.4) If payment of the compensation is made directly to yourself by the bank either by cheque or directly to your bank account that you will pay our fee within 14 days.
  • 3.5) You agree that you will assist FCC Ltd by providing all information relevant to your claim.
  • 3.6) Tell us if the bank contact you directly.

4) Our fees:

  • 4.1) If we do not succeed in obtaining compensation for you then you will pay us nothing.
  • 4.2) Our fee is 20% plus vat, which at current rates totals 24%. This means that if £1,000 is awarded, your total fee would be £240 including VAT..
  • 4.3) Compensation means the total cash received or the total refund that may be offset against any outstanding balance that you have with the bank.
  • 4.4) We do not charge for any reduction in your monthly payments.
  • 4.5) All invoices must be paid in full within 14 days.
  • 4.6) If our invoice is not paid promptly we reserve the right to make an additional charge to cover the costs of telephone calls and invoice reminders up to a maximum of £150.

5) Cancellation:

  • 5.1) We reserve the right to cancel this agreement if we believe that your claim is unlikely to succeed.
  • 5.2) We will make no charge if you cancel this agreement within 14 days of signing.
  • 5.3) "If, after the 14 day cooling off period, you cancel this Agreement prior to any offer of settlement being made, we reserve the right to charge you reasonable costs for the administration of your claim, up to the point at which you informed us you would like to cancel.
  • 5.4) If you reject an offer of compensation which complies with F.O.S. guidelines, our full fee is still payable. Our fee is 20% plus vat, which at current rates totals 24%. This means that if £1,000 is awarded, your total fee would be £240 including VAT.
  • 5.5) Cancellation of our Agreement can be made by completing and returning the cancellation form found at http://www.fcc123.com/information/cancellation to or by telephone.

6) Complaints:

  • 6.1) If you are unhappy with the service you receive from FCC Ltd please write to us at Academy House, 31 Church Street, Coatbridge ML5 3DP or telephone us on 01236 430011. We will respond within 7 days and look to resolve any issues as soon as possible. Complaints Procedure is available at www.fcc123.com//information/complaints-process.

7) Important information:

  • 7.1) FCC Ltd acknowledges that you can shop around or make this complaint yourself.  All banks and the Financial Ombudsman Service provide a free service for your complaint.
  • 7.2) If a PPI or other financial product claim is successful and is still in force, this will be cancelled by the bank or policy provider.

8) Data Protection

  • 8.1) The Company will process all information in accordance with the Data Protection Act 1988. We use the personal information you provide us with to assess your position and carry out the services we provide. We may disclose your information to other companies as the need arises during the claims process. By providing your personal information you explicitly authorise us to process your information. If you provide information to us about another party you confirm they consent to us processing their personal information and that you collected the information on their behalf. You can request a copy of the information we hold about you at any time.


© Copyright 2020 Financial Compensation Centre Ltd - 31 Church Street, Coatbridge. ML5 3DP
Registration No. SC259248 - Registered Office: Suite 411, Baltic Chambers, 50 Wellington Street, Glasgow G2 6HG - email: info@fcc123.com

Regulated by the Claims Management Regulator in respect of regulated claims management activities. Authorisation Reference No CRM2352.
Registration recorded on the website http://www.justice.gov.uk/claims-regulation