1. What Morgan Lowry Ltd. will do for you:
(a) We will evaluate your bank statements and, if valid, pursue, on your behalf, a claim for refunding of bank charges.
(b) We will provide this service on a "Contingency Fee” basis (Except in certain circumstances as set out in Section 5 below on “Cancelling this Agreement"). A "Contingency Fee” is one that is only charged if compensation is recovered and is worked out on an agreed percentage of the amount recovered. However, we will require an initial payment from you of £30, (this consists of a £20 administration charge plus a £10 fee that the bank will charge us to make a Data Protection Act 1988 subject access request on your behalf for your bank statements). The £20 administration charge is refundable if monies are recovered from the bank, but otherwise it is not refundable.
(c) We will conduct all the correspondence and negotiation with your bank. We will keep you informed if you are required to sign any further documentation to facilitate this.
(d) We will Inform you of all offers that we receive from the bank, evaluate them and advise you in writing whether we consider it to be in your interests to accept or to reject.
(e) We will forward to you all the monies received from the bank, after deduction of our fee, as soon as possible after we have received it.
(f) We will always endeavour to act in your best interests in pursuing your claim and obtaining the best results for you.
(g) We will provide you with the professional and dedicated service that you deserve and use all reasonable skill and care in the pursuit of your claim for reimbursement of bank charges.
(h) We will return to you all your papers (Including bank statements) following the receipt by us of payment of all money owed to us under this Agreement.
2.What Morgan Lowry Ltd. will NOT do for you:
We will NOT advise you to pursue a claim that in our opinion has no realistic chance of success, or where the amount in issue does not in our opinion justify the likely work involved, and we reserve the right to cancel this Agreement if we form this opinion.
(b) We will NOT advise you to accept an offer that we consider inadequate or to reject an offer that we consider to be reasonable, and we reserve the right to cancel this Agreement if you wish to accept an offer that we consider inadequate or to reject an offer that we consider to be reasonable.
(c) We will NOT accept an offer without your agreement.
(d) We will NOT give or offer you any financial advice.
(e) We will NOT advise you whether there is a risk that your bank may close your account after refunding your bank charges and whether you should open a second account in anticipation of this happening, but you may consider this to be a prudent step to take.
(f) We will NOT take steps to deal with any negative credit entry that your bank may have registered against your name
3.What we expect from you:
(a) To provide us promptly with all relevant information and details we request to enable us to pursue your claim, including a cheque for £30 made payable to Morgan Lowry Limited (which consists of the £20 administration charge and the £10 fee that the bank will charge us to make a Data Protection Act 1998 subject access requesting bank statements on your behalf).
(b) To provide us with clear instructions.
(c) To cooperate with us (including sending to us any correspondence you receive directly from the bank).
(d) Not to ask us to work in an improper or unreasonable way or to mislead us.
(e) To provide us with the exclusive authority (even to the exclusion of you):
(i) to pursue your claim;
(ii) to enter on your behalf into correspondence and negotiations;
(iii) to receive, bank and give valid receipt for your compensation payment;
(iv) to request the bank to make the cheque payable to Morgan Lowry Limited so we can bank it, or (if the cheque is made payable to you but received by us) to pay it into a treasury account or to retain it pending receipt from you of payment in cleared funds of our fee agreed pursuant to this Agreement and;
(v) (If the cheque Is made payable to us or is paid by us into a treasury account) to deduct our fee agreed pursuant to this Agreement before sending to you a Morgan Lowry Limited cheque for the balance.;
(f) (If the cheque is instead sent by the bank to you rather than to us) to pay within 7 days our fee agreed pursuant to this Agreement;
(g) To read all of our Terms and Conditions and to sign them to indicate that you have understood them.
(h) To retain a copy of our Terms and Conditions for your reference.
4. Our Fee
(a) We will charge you a fee of 20% of the total amount paid to you in full and final settlement of the claim made against your bank or any other financial institution.
(b) At the start of your claim, we will require you to pay a cheque for £30 to Morgan Lowry Limited (which consists of an administration charge of £20 plus the £10 fee that the bank will charge us to make a Data Protection Act 1998 subject access request on your behalf for your bank statements). This is non-refundable if no monies are recovered from the bank, but if monies are recovered, we will refund you the £20 administration charge but not the £10 mentioned above.
(c) If no refund is received, you pay us nothing except in certain circumstances (see section 5 below on “Cancelling this Agreement”).
5 Cancelling this Agreement
(a) We can cancel this agreement at any time, and no fee will be payable by you, if we advise that your claim is unlikely to succeed and if you have not breached your duties as set out at section 3 above.
(b) We can cancel this arrangement at any time, but we will have the right to charge you fees (details of which are set out below) for all our work done on your behalf, pursuant to this Agreement
(c) If you have breached your duties set out at paragraph 3 above or
(d) If you accept an offer that we consider inadequate or reject an offer that we consider to be reasonable.
(e) You can cancel this agreement at any time, but we will have the right to charge you fees (details of which are set out below) for all our work done on your behalf pursuant to this Agreement.
(f) If the Agreement is cancelled in circumstances that entitle us to charge you for our work, those fees, if we elect to charge them, will be calculated by multiplying the number of hours (or part thereof) spent by us on your claim by the applicable charging rate of £10 per hour, and time spent will be measured in units of six minutes. We will however, warn you if we intend to charge such fees and how much they are likely to be. We reserve the right, at our discretion, to waive or reduce any such fees.
(g) Cancellation of this Agreement by either party must be in writing.
(h) There is a 14 day cooling off period in which you may cancel the agreement without any charge other than the £10 Data Protection Act fee, if the last six years’ statements have been requested within that time limit; or else without any charge if the statements have not been requested. |
