Member Terms & Conditions

National Association of Commercial Finance Brokers (NACFB)

TERMS AND CONDITIONS

  1. YOUR MEMBERSHIP:

a. Members of the National Association of Commercial Finance Brokers are entitled to receive access to the NACFB website, and the support functions the Association offers, unless otherwise stated as a paid for service.

b. You agree to abide by the NACFB Code of Practice and Minimum Standards as revised from time to time and acknowledge the statements above covering the General Data Protection Regulation.

c. You will be required to complete an online registration form which forms part of the contractual agreement to subscribe to the NACFB. The registration is assigned to you and you are not allowed to re-assign the rights and obligations elsewhere without prior written consent.

d. As part of these terms and conditions, you will undergo an initial onboarding review conducted by the NACFB compliance department and an annual minimum standards review whilst you maintain active membership of the NACFB.

e. There is a monthly membership fee. Payment details are due upon registration and will need to be provided before you become a Member of the NACFB. The fee is payable by direct debit. The fee for your membership starts from £720 per year which includes one Registered Individual. Each additional Registered Individual is charged at £210 per year.

f. Over time NACFB may offer varying levels of membership services. The Member will be kept informed by the NACFB in this event and this will not affect current membership with us.

g. If the NACFB adds new products or services, the Association may offer you a trial period at the start of your membership, or a longer assessment term as a special offer Member rate. The length and cost of any trial or offer will vary from time to time, but full details will always be made available at the time of your registration. Please note that we only offer one introductory rate, or discounted membership in any 12-month period.

h. You understand that registration of your membership will be granted at the absolute discretion of the NACFB, who are under no obligation to give any reason or explanation should membership be declined.

 

  1. PAYING FOR YOUR MEMBERSHIP:

a. Full details of your Membership fee will be provided to you during the registration process, and payment is due upon registration. The cost for your membership to the NACFB is as defined above. By agreeing to this document, a Member agrees to pay the monthly fee, via Direct Debit, for a 12-month period.

 

  1. FAILURE TO PAY YOUR MEMEBRSHIP:

a. If you fail to pay any Membership fee on the due date we may, without prejudice, suspend your application until payment has been made in full.

b. Your NACFB membership forms a one-year binding contract, whereby the Membership will automatically renew after one year. The membership amount will remain at the same as the previous year unless the Association advises of any changes or upgrades to your membership.

c. If you are unable to maintain your membership payments, or you are entering into any financial difficulty, please contact us at FINANCE@NACFB.ORG.UK as soon as possible.

 

  1. CANCELLATION/TERMINATION:

a. If you wish to cancel your membership to the NACFB, you must notify us in writing. You can do this via email or via phone or postal address, providing one months’ notice:

Email:                  ADMIN@NACFB.ORG.UK

Phone:                0207 101 0359

Address:              33 Eastcheap, London, EC3M 1DT

b. Consistent failure to pay your membership may result in NACFB pursuing payment through any means reasonably available at the time.

c. As your Membership can be used immediately, you do not have the statutory cooling off period during which you may cancel your membership without charge.

 

  1. REFUNDS

a. The NACFB will not offer any refund for your cancellation of membership to the NACFB. If the NACFB issues notice of cancellation within the 12-month period, your current membership will terminate, and no further charges will be liable to be paid.

b. We may terminate your membership to NACFB immediately by giving you written notice if you breach the conditions of these terms and conditions.

c. Upon termination of your membership status, all rights and licences granted to you under these terms and conditions automatically cease and you may not use any of NACFB intellectual property.

 

  1. PAID FOR SERVICES:

a. For any paid for services, not including direct downloads, you can cancel the order up to 14 days after their order is requested. After this, the NACFB reserves the right not to issue any refund after the 14-day period.

 

  1. COPYRIGHT AND TRADEMARKS: 

a. You acknowledge that all intellectual property rights pertaining to NACFB utilised by your organisation are owned by and licensed by NACFB.

b. We hereby grant you a non-exclusive and non-transferrable licence to use such copyrighted material solely for the purposes of your Member status with the NACFB in accordance with these conditions.

c. You undertake to follow the instructions given in the permitted use of the copyrighted material and any of our other intellectual property rights.

d. We reserve the right to terminate immediately your right to use any of the copyrighted material by giving you written notice if, in our opinion, your continued use could be prejudicial to the reputation of the Association and/or its other Members/subscribers.

 

  1. NACFB – FACILITY AND SERVICES:

a. Where we provide recommendations or suggestions, we do not take responsibility for their implementation and embedding. Any recommendations made will be generic and Members should ensure that what is implemented is appropriate to their overall business and where necessary should seek legal advice.

b. The NACFB host collaborative events throughout the year, such NACFB Expo, NACFB Patron Awards, Commercial Broker Awards and regional road shows helping Members to network and learn. Some of these events require personal data to be processed. More information on how we process your personal data can be found in our Privacy Notice.

c. The NACFB has partnered with third party suppliers to provide Members with additional benefits and support throughout their membership. Access to these suppliers at any discounted rate is strictly subject to your active membership. All discounted rates will cease on termination or suspension of your membership, unless otherwise agreed beforehand.

 

  1. OUR LIABILITY:

a. To the fullest extent permitted by law, we the Company and any third parties connected to us shall not be liable to you, the Member for any costs, expenses, loss, or damage (whether direct, indirect, or consequential, and whether economic or other) arising from your exercise of any other rights granted to you under these Conditions. We hereby expressly exclude all conditions, warranties and other terms which might otherwise be implied by statute, common law, or equity. Our aggregate liability to you in respect of claims arising out of, or in connection with, these Conditions or any collateral contract, whether in contract or tort (including negligence) or otherwise shall in no circumstances exceed 200% of the total Membership fee payable by you in the year in which the claim arises.

 

  1. INDEMNITY:

a. As a Member, you will indemnify NACFB against all liabilities, costs, expenses, damages, and losses.

b. This includes any direct, indirect, or consequential losses, loss of profit, loss of reputation, and all interest penalties and legal and other reasonable professional costs and expenses suffered or incurred by us, that arise out of or in connection with any breach of these conditions by you including (but not limited to); any breach of any provisions relating to the licensing of the Association’s intellectual property to the Member or out of our use, review and standards of any related materials.

 

  1. CONFIDENTIALITY:

a. Each party undertakes that it shall not disclose to any person any confidential information concerning the business, affairs, customers, clients, or suppliers of the other party.

b. Each party may disclose the other party’s confidential information:

i. To its employees, officers, representatives, or advisers who need to know such information for the purposes of carrying out the party’s obligations under this agreement. Each party shall ensure that its employees, officers, representatives, or advisers to whom it discloses the other party’s confidential information comply with this clause.

ii. As may be required by law, court order or any other governmental or regulatory authority, no party shall use any other party’s confidential information for any purpose other than to perform its obligations under these conditions.