Member Terms & Conditions

National Association of Commercial Finance Brokers (NACFB)

Membership Terms and Conditions

Definitions and Interpretation

In these Terms and Conditions (the Terms):

Association / NACFB / We / Us / Our means the National Association of Commercial Finance Brokers.
Member / You / Your means the individual or firm applying for or holding membership of the NACFB.
Membership means the contractual relationship formed upon acceptance of an application by the NACFB.
Registered Individual means an individual registered with the NACFB under a Member’s account.
Code of Practice means the NACFB Code of Practice and Assurance Programme, as amended from time to time.

These Terms form a legally binding agreement between the Member and the NACFB.

Membership Status and Scope

2.1 Membership grants the Member access to the NACFB website, services, and benefits made available from time to time, subject to these Terms and any applicable eligibility requirements.

2.2 Membership is granted at the sole discretion of the NACFB. The NACFB reserves the right to decline or defer any application without obligation to provide reasons.

2.3 Membership is personal to the Member and may not be assigned, transferred, or sublicensed.

2.4 The Member agrees at all times to comply with:

these Terms;
the NACFB Code of Practice and NACFB Assurance Programme; and
all applicable laws and regulatory requirements.

Onboarding, Assurance and Ongoing Review

3.1 As a condition of Membership, the Member will undergo:

an initial onboarding assurance review; and
an annual assurance review to be completed on an ongoing basis thereafter

3.2 Assurance is not a guarantee of regulatory compliance and does not transfer regulatory responsibility from the Member.

3.3 Member will not be granted access to member services until they have completed their Assurance and achieved the NACFB Assured status.

Membership Fees and Payment

4.1 Membership fees are payable upon submission of your application to the NACFB. As a condition of membership, you must establish a Direct Debit mandate within five (5) days of submitting your application.

4.2 Membership fees are collected by monthly direct debit, unless otherwise agreed in writing.

4.3 Fees are payable immediately upon submission and membership is cancellable at the member discretion during the initial period of assurance with 1 months’ notice.

4.4 Post successful completion of assurance, the member is committed to pay for a further 8 months at which point Membership becomes cancellable at the Members discretion subject to a 3 month notice period.

4.5 Membership automatically renews annually unless cancelled in accordance with clause 7.

4.6 Where a request to amend billing details is received fewer than seven (7) working days before month end, the NACFB cannot guarantee that the change will apply to the following month’s payment.

Failure to Pay

5.1 Late payment or a returned (bounced) Direct Debit may, at the NACFB’s discretion, result in an administration charge of £35. At the NACFB’s discretion, repeated late payments or returned Direct Debits may result in the Member’s membership being archived or suspended for a minimum of 6 months.

5.2 Suspension or termination for non‑payment does not relieve the Member of its obligation to pay fees already due and may at the NACFB’s discretion result in a late fee of £35.

5.3 Where Membership fees are not paid when due, the NACFB may:

suspend Membership and associated benefits;
withhold assurance certificates; and/or
pursue recovery of outstanding sums through reasonable means.

Paid‑for Services

6.1 Certain services are offered on a paid‑for basis in addition to Membership.

Cancellation and Termination

7.1 Where you are completing your initial Assurance review The Member may cancel Membership by providing not less than one (1) month’s written notice

7.2 Where you have completed your Assurance review and been assured against the NACFB’s standards, The Member may cancel Membership by providing not less than three (3) month’s written notice to:

admin@nacfb.org.uk;

7.2 Membership fees are non‑refundable, including where the Member chooses to cancel part‑way through a Membership year.

7.3 The NACFB may terminate Membership immediately by written notice where the Member:

breaches these Terms or the Code of Practice;
brings the NACFB or its Members into disrepute; or
no longer meets Membership eligibility criteria.

7.4 On termination, all rights to use NACFB branding, intellectual property, and Member benefits cease immediately.

Intellectual Property

8.1 All intellectual property rights in NACFB materials, branding, and content remain with the NACFB.

8.2 The Member is granted a non‑exclusive, non‑transferable licence to use NACFB intellectual property solely for the purposes of active Membership.

8.3 The NACFB may withdraw this licence to use them immediately where continued use may damage the reputation of the Association.

Services, Events and Third‑Party Providers

9.1 Any guidance, templates, or recommendations provided by the NACFB are generic in nature and do not constitute legal, regulatory, or professional advice.

9.2 Members are responsible for ensuring that any materials or recommendations adopted are appropriate for their own business and regulatory circumstances.

9.3 Access to third‑party partners or discounted services is conditional upon active Membership and may be withdrawn upon suspension or termination.

Liability

10.1 To the fullest extent permitted by law, the NACFB excludes all liability for loss or damage arising from Membership or use of NACFB services, except where liability cannot be lawfully excluded.

Indemnity

11.1 The Member shall indemnify the NACFB against all costs, and expenses arising from:

breach of these Terms or the Code of Practice; or
misuse of NACFB intellectual property; or
regulatory, legal, or reputational issues caused by the Member’s conduct.

Confidentiality

12.1 Each party agrees to keep strictly confidential all confidential information received from the other party in connection with this Agreement. Neither party shall disclose such information to any third party, nor use it for any purpose other than the proper performance of its obligations under this Agreement, without the prior written consent of the disclosing party.

12.2 Disclosure is permitted where required by law or regulatory authority, or to advisers who are bound by confidentiality obligations.

Data Protection

13.1 Personal data will be processed in accordance with applicable data protection legislation and the NACFB Privacy Notice.

13.2 By accepting these Terms and Conditions, you acknowledge that NACFB Patrons and Partners may contact you to market their services where they have a legitimate interest in doing so, in accordance with applicable data protection legislation.