Terms & Conditions of this Agreement
The Damart Select Personal Account allows you to purchase items from the Damart or Sedagyl catalogues on credit up to your credit limit as advised by us. After a maximum of 28 days home approval you then have a choice to pay for the items in full or to pay by instalments. If at any time during the life of your Damart Select Personal Account you do not clear the full balance outstanding you will enter into a regulated consumer credit agreement. The following sets out important information about if you decide to enter into a regulated consumer credit agreement.
Please read this carefully along with the other information provided to decide whether this credit is suitable for you.
Paying on credit terms will require you to pay interest and therefore increase the overall cost of the goods that you buy. Please ensure that you will be able to afford the repayments. Your credit limit will be set based upon our creditworthiness and affordability assessment up to a maximum £500 for the first year you are a customer.
Each month you will be sent a statement which will detail your total outstanding balance. You must pay the minimum amount due by the date specified on your statement to avoid going into arrears. The minimum payment will be 1/20th of the value of the goods you have bought subject to a £5 minimum or the outstanding balance if it is less than £5. Interest is applied to the balance outstanding from the previous statement at a daily rate of 0.0893 pence in the pound unless you pay the balance in full. Interest is calculated when the statement is produced and added to the balance, subject to a minimum charge of 50 pence per month.
The sooner you are able to pay off your balance, the less interest you will have to pay.
Representative Example: total amount of credit £400, cash price of goods £400, amount of advance payment £Nil, the daily interest rate is 0.0893 pence in the pound , equating to 37.5% per annum (variable) charged on the previous outstanding balance, Representative APR 37.7% (variable). Total amount repayable £516.53
If you do not pay the balance in full on each statement your purchase will cost you more; for example, if you buy goods worth £100 and make the minimum payment every month you will repay twenty monthly instalments totalling £129.42 and the total charge for credit will be £29.42.
If you don't make a payment by the due date shown on your statement or if you pay less than the minimum amount requested, this will result in the total cost of your debt growing due to the addition of interest and default charges. We may charge you:
1. an administration charge of up to £12 for any missed or incomplete payments and
2. an administration charge of up to £6 for any returned payments and
3. any reasonable costs and expenses we may incur in the instruction or involvement of third parties for: tracing you or debt collection.
Late or missed payments can increase the cost of your credit, impair your credit rating, making it more difficult and/or expensive for you to obtain credit in the future.
You have the right to withdraw from this credit agreement before the end of 14 days beginning with the day after the agreement is made, or if information is provided after the agreements made, the day on which you receive a copy of the executed agreement under sections 61A or 63 of the Consumer Credit Act 1974, the day on which you receive the information required in Section 61A(3) of that Act or the day on which you are notified of the credit limit, the first time it is provided, whichever is the latest. You can exercise this right by contacting us as detailed below. If you withdraw you must pay for the value of the goods you have kept within 30 days of the date of the withdrawal.
You may close your Damart Select Personal Account at any time by paying off any sums that are outstanding on your account and notifying us using the contact details below.
Please contact us by any of the following methods if you have any questions about our agreements. By phone on 0330 1234083 by e mail to firstname.lastname@example.org, or in writing to: Damart, Bowling Green Mills, Lime Street, BIngley, West Yorkshire, BD97 1AD. Included in this pack is your first statement, a copy of the Standard European Consumer Credit Information (which can be found overleaf) and two copies of a Consumer Credit Agreement. You should consider this information carefully. If you decide that you want to enter into a regulated credit agreement with us please sign and return one copy of the agreement to Damart using the envelope included. The second copy should be completed and signed then kept for your own records.
Pre-contract Credit Information (Standard European Consumer Credit Information - SECCI)
|Creditor Address||Damartex UK Limited trading as "Damart" and "Sedagyl" Bowling Green Mills, Lime Street, Bingley, West Yorkshire, BD97 1AD.|
|Telephone number||For orders: 0871 200 9000 (calls cost 12p per minute plus your telephone company's network access charge). For queries about this information: 0330 1234083|
|The type of credit||Running account (retail).|
|The total amount of credit This means the credit limit.||We will determine from time to time how much credit you may have under this agreement, and will notify you of that amount on a statement or other communication.|
|How and when credit would be provided.||Credit will be provided upon expiry of the 28 day approval period for the goods unless they are returned.|
|The duration of the credit agreement.||The agreement has no fixed or minimum duration.|
|Repayments.||Each month you must repay the minimum payment shown on your statement by the date shown. This is calculated as 1/20th of the total cash price of goods purchased on the account or £5.00, whichever is the greater. We re-calculate the minimum payment in the same way whenever you buy more goods or return goods. If your balance is less than £5 you must pay the outstanding balance.|
|The total amount you will have to pay This means the amount you have borrowed plus interest and any costs.||The total amount payable is the sum of the amount borrowed plus the total charge for credit. The total charge for credit comprises interest only. Interest is applied to the total balance outstanding from the previous statement based on the daily interest rate of 0.0893 pence in the pound or 50 pence, whichever is the greater. Based on an example of taking credit of £100 and paying the minimum repayments for the term, the total charge for credit is £29.42and the total amount repayable is £129.42.|
|The rates of interest which apply to the credit.||The rate of interest is based on the daily interest rate of 0.0893 pence in the pound. Interest is applied to the total balance outstanding from the previous statement which is calculated when the statement is produced and added to the balance, subject to a minimum charge of 50 pence per month.|
|'Annual percentage rate of charge' (APR). This is the total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers.||37.5%. The assumptions underlying this calculation are that a credit limit of £400 be drawn down immediately and in full and repaid over a one year period in equal monthly instalments commencing four weeks after the date of initial drawdown along with interest as provided for in this agreement.|
|Charges for using a specific payment method||If you choose to make repayments to your Damart Select Personal Account at the Post Office their standard fees will be payable.|
|Costs in the case of late payments||We reserve the right to charge you (i) an administration charge of up to £12 in respect of each missed or incomplete payment due; (ii) an administration charge of up to £6 in respect of each returned payment; (iii) any reasonable expenses and costs that we may incur in the instruction or involvement of third parties for tracing you or debt collection.|
|Consequences of missing payments||Missing payments could have severe consequence, including increasing the cost of your credit, impairing your credit rating which may make obtaining credit in the future more difficult and/or expensive for you.|
|Right of withdrawal||You have the right to withdraw from this credit agreement before the end of 14 days beginning on the day after the agreement is made, or if information is provided after the agreement is made, the day on which you receive a copy of the executed agreement under sections 61A or 63 of the Consumer Credit Act 1974, the day on which you receive the information required in section 61A(3) of that Act or the day on which you are notified of the credit limit, the first time it is provided, whichever is the latest.|
|Early Repayment||You have the right to repay early in full or in part.|
|Consultation with a Credit Reference Agency||If we decide not to proceed with your credit application on the basis of information from a credit reference agency, when informing you of the decision we will inform you that it has been reached on the basis of information from a credit reference agency and the particulars of that agency.|
|Right to a draft credit agreement||You have the right to request a copy of the draft credit agreement free of charge.|
|The period of time during which the creditor is bound by the pre-contractual information||This information is valid for a period of 30 days from the day we send it to you.|
|(a) concerning the creditor|
|Registration number||Damart and Sedagyl are trading names of Damartex UK Limited which is a company registered in England and Wales company number 00852773.|
|The supervisory authority||We are authorised and regulated by the Financial Conduct Authority of 25 The North Colonnade, Canary Wharf, and London, E14 5HS to provide consumer credit. Firm Reference Number: 702607.|
|(b) concerning the credit agreement|
|The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit agreement||English law (or the law of Scotland or Northern Ireland if you reside there).|
|The law applicable to the credit agreement and/or the competent court||The laws of England and Wales govern the credit agreement unless you reside in Scotland or Northern Ireland in which case local law will apply and the local courts have jurisdiction.|
|Language to be used in connection with your agreement||The contractual terms and conditions and prior information are in English. The creditor undertakes with the debtor's agreement, to communicate with the debtor in English for the duration of the credit agreement.|
|(c) concerning redress|
|Access to out-of-court complaint and redress mechanism||If you have a complaint and feel that we haven't resolved it to your satisfaction, you may refer the matter to the Financial Ombudsman Service, for independent investigation after having first raised your complaint with us. If, after 8 weeks we have still not resolved your complaint, you have the right to complain to the Financial Ombudsman Service.|
Terms & Conditions of this Agreement
1.1 You accept these Terms and Conditions.
1.2 You have been provided with a full copy of this agreement for consideration before signing together with a copy of the Adequate Explanations and Standard European Consumer Credit Information (SECCI).
1.3 You are over 18 years of age.
1.4 The details you have given are true and complete.
1.5 You will inform us as soon as possible of any change in your personal details such as name and home address.
1.6 Your signature to this agreement acknowledges receipt of a true copy.
1.7 All sums owed under the agreement shall become due and payable immediately if:
1.7.1 We believe you have provided us with any false information when you entered into this agreement.
1.7.2 A statutory demand is served on you, or any other steps are taken by you or any other person, to make you bankrupt.
1.7.3 You commit an act of bankruptcy (e.g. failing to pay a debt pursuant to a court order).
2.1 Once you have opened your Damart Select personal account and signed the credit agreement, you can use your account to order at any time and spread your payments for up to 20 months.
Here's how it works:
2.1.1 Complete your order form and tick the personal account box. If ordering by phone, call 0871 200 9000 and tell our orderline advisor it is a personal account order or visit us at www.damart.co.uk. Calls cost 12p per minute plus your telephone company's network access charge.
2.1.2 Full payment details are shown on every Damart or Sedagyl order form, including postage and packaging charges.
2.1.3 We normally send you a statement every 4 weeks showing your orders, balances, payments, minimum payment required and payment due date. 2.1.4 You can then choose to pay in full, or by regular 4 weekly instalments. You can pay your account by direct debit, cheque, postal order and debit card. Alternatively, you can pay by cash at the Post Office (fee will be payable).
2.1.5 We reserve the right to vary the duration, interest charge and the minimum payment. We may do this if for example our costs, including the costs of borrowing, increase. Should this be necessary we will give you at least 28 days notice.
2.1.6 To calculate your approximate repayment, simply divide the cash price of any item by 20, e.g. goods costing £100 could be paid for in 20 instalments of £5 plus service charges. If you repay more than the minimum payment the service charge will be reduced accordingly (written quotations are available on request).
3.1 Damart is committed to delivering the highest possible standards of service. If you have a complaint relating to the operation of your Damart Select Personal Account please do so by contacting us by any of the following methods:
• by phoning us on 0330 123 5429
• by emailing us at email@example.com
• by going to our website www.damart.co.uk.
• by contacting us at the address or telephone number as detailed in section 4.2 We will ensure that your issue is dealt with in line with our credit complaints policy.
3.2 We will:
3.2.1 Give your complaint immediate attention.
3.2.2 Aim to resolve complaints fully the first time you contact us. If we cannot do this, we will let you know why and keep you up to date with progress until it is fully resolved.
3.3 If you are not satisfied with our suggested resolution or if eight weeks have passed since you first brought your complaint to our attention, you have the right to refer your complaint to the Financial Ombudsman Service. If you want the Financial Ombudsman Service to look into your complaint, you must contact them within six months of the date of any final response issued by us. You can write to them at: The Financial Ombudsman Service, Exchange Tower,London,E14 9SR
3.4 Alternatively you can phone 0300 123 9123 . Further helpful information can be obtained from visiting the Financial Ombudsman Service website at: www.financial-ombudsman.org.uk
3.5 In the event you have a complaint regarding a product or service purchased from Damart, please contact us at firstname.lastname@example.org. In the unlikely event that we are unable to resolve your complaint, and you are still not satisfied following the conclusion of our complaints handling procedure you may refer your complaint to The Retail Ombudsman which is a certified Alternative Dispute Resolution Provider. We will respond to any complaint referred to us by them. The Retail Ombudsman, 33 Floor Euston Road, London, NW1 3DP Email: email@example.com. Web: www.theretailombudsman.org.uk Tel: 0203 137 8268 Alternatively, if your complaint is regarding goods or services purchased from damart.co.uk and you are not satisfied with the resolution we have provided, the EU Online Dispute Resolution platform is available at www.ec.europa.eu/consumers/odr Please note following submission of your complaint on the EU platform you will be directed to The Retail Ombudsman. You may therefore refer your complaint directly to them.
4.1 The personal information we collect about you is used by us to verify your identity, undertake credit assessments to inform our lending decisions, manage your account and to make collections. It is also used to contact you for marketing purposes.
4.2 We may share information about you and the conduct of your account with credit reference agencies (see 4.3 below and with fraud prevention agencies. We may also share your information with relevant third parties including businesses within the same group as Damart and (with your express consent) any other third parties who offer products or services in which we think you may be interested. If you do not wish us to contact you or you wish to revoke any consent you may contact us at any time either by writing to The Data Protection Manager at Damart, Bowling Green Mills, Lime Street, Bingley, West Yorkshire BD97 1AD or via our website at www.damart.co.uk.
4.3 We will use credit reference agencies to help us make lending decisions. We may also disclose to credit reference agencies the details of your agreement, payments made and any default, suspicion of fraud or failure to maintain the terms of the agreement. For full written details of how your data may be used by credit reference agencies, please contact the agencies below (they may charge you a small statutory fee):
4.3.1 Call Credit, Consumer Services Team, One Park Lane, Leeds, West Yorkshire, LS3 1EP or visit www.callcredit.co.uk.
4.3.2 Equifax Credit File Advice Centre, PO Box 1140, Bradford, BD1 5US, or visit www.equifax.co.uk.
4.3.3 Customer Support Centre, Experian Ltd, PO Box 9000, Nottingham, NG80 7WP, or visit www.experian.co.uk.
4.4 We will disclose your personal data when legally required to do so, for example at the request of government authorities conducting an investigation. We will also use it to verify or enforce compliance with our policies, for example governing our web site and applicable laws or to protect against misuse or unauthorised use of our web site.
4.5 If we transfer, change or assign this agreement to a third party or if we use a third party to manage any aspect of this agreement, we will pass your information to them. Your data may be used for other purposes for which you give your specific permission.
4.6 Your data remains on file for 6 years after your account is closed whether settled by you or in default.
5.1 We may transfer all or any of our rights under this agreement.
5.2 This agreement is governed by English Law. This agreement is in English and all communications regarding it shall be conducted in English.
5.3 Damart and Sedagyl are trading names of Damartex UK Limited which is authorised and regulated by the Financial Conduct Authority to provide Consumer Credit under these names pursuant to register number 264768.
5.4 Damart is a responsible lender and will monitor your individual payment performance on an ongoing basis. If we consider that you are experiencing repayment problems such that it would be irresponsible to offer you further credit we may decline to do so.
5.5 We reserve the right to refuse or restrict credit orders.