Tax and Pension Contribution Loan Agreement

Tax and Pension Contribution Loan Agreement KBCTPCLANIL131108 Fixed Sum Loan Agreement regulated by the Consumer Credit Act 1974 (Tax and Pension Contribution Loan Agreement) The terms and conditions of this agreement are printed below. Address for correspondence : KBC Bank Ireland plc, Number One, Lanyon Quay, Belfast BT1 3LG Tel: +44 (028) 9044 6100 Fax:+44 (028) 9044 6120 Please ensure this agreement is completed correctly and in full and return it to the above address. This is a loan agreement (the “Loan Agreement”) made between Premier Homeloans Limited (Company Number 02267120) trading as KBC Business Finance having its registered office at 14-15 Quarry St., Guildford, Surrey, GUI 3UY (the “Lender”) and the person named in Section A below as the Borrower (the “Borrower” and “you”). Agreement No. Please tick Purpose of the Loan Tax Personal Pension Contribution Both (the “Pension Provider”) The Borrower’s personal pension plan (the “Pension Plan”) is provided by That portion of the loan which shall be used by the Borrower to pay income tax shall hereinafter be referred to as Tranche A. The portion of the loan which shall be used by the Borrower to fund contributions to the Borrowers Personal Pension Plan shall hereinafter be referred to as Tranche B. Tranche A and Tranche B shall hereinafter together be referred to as the 'Loan' which expression shall mean one or all of them as the context so admits or requires. A. The Borrower Name Address Business /Occupation Email Address Business Tel. Home Tel. Date of Birth B. Key Financial Information Loan Amount Total amount payable Repayments Repayable by Monthly repayments of Annual Percentage Rate (APR) £ £ £ £ £ Tax (Tranche A) Personal Pension Contribution (Tranche B) £ £ £ £ £ % % Repayments will be due on the same date in each month (or on the last day of the month, if earlier) commencing on being at least one month after the date on which the Loan is drawn down and are payable by direct debit. Duration: This agreement comes into effect on the date when it is signed on our behalf. The duration of the agreement is from that date for a period of _______________months or until the date the Loan is repaid in full whichever is the later. , C. Other Financial Information Purpose of Loan: To be used by the Borrower to pay income tax and/or to fund contributions to the Borrowers Personal Pension Plan Fixed Interest Rate charged per Annum % The interest due on the full term of the Loan is calculated at the beginning of the Loan and apportioned over the term of the Loan and charged to the Borrower’s account on a monthly basis. Total Charge for Credit • Administration Fee £3.00 payable with each instalment • Interest £ • Total £ D. Key Information SECURITY This facility is unsecured. LIST OF DEFAULT CHARGES Each Letter re Missed Repayments/Account Conduct £15 Each Unpaid Item on Borrowers account £15 Each Solicitors Letter £100 Each Visit to the Borrower £25 Default Interest on any overdue instalments at the rate of 2% per month or part thereof Any fees or additional expenses incurred by the Lender in relation to the collection of any amounts in connection with this Loan Agreement (including, without limitation, any amounts of principal, interest charges, costs and expenses). All charges are subject to change and will be personally notified to Borrowers 30 days prior to any variation. EXAMPLES OF EARLY SETTLEMENT Amount payable if you choose to discharge all of your indebtedness to the Lender in relation to the Loan on the date when a quarter of the term of the Loan elapses half of the term of the Loan elapses £ £ three quarters of the term of the Loan elapses £ In calculating the amounts shown, no account has been taken of any variation which might occur under the Loan Agreement and therefore the amounts are accordingly only illustrative. Furthermore these examples assume that the repayment schedules are being met and that the early settlement date in the future would be likely to be different from the examples quoted above so the figure would probably vary in reality. MISSING PAYMENTS Missing repayments could have severe consequences and make obtaining credit more difficult. YOUR RIGHT TO CANCEL Once your have signed this Loan Agreement you will have a short time in which you can cancel it. We will send you exact details of how and when you can do this. IMPORTANT - READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, the creditor cannot enforce this agreement without getting a court order. The Act also gives you a number of rights. You can settle this agreement at any time by giving notice in writing and paying off the amount you owe under the agreement which may be reduced by a rebate. Examples indicating the amount you might have to pay appear in the agreement. If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens’ Advise Bureau. E. Signature Boxes This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by its terms. Witness to Customer (s) Signature (s) Signature Name Signature (s) Signature (s) Date Date Address Signature for and on behalf of Premier Homeloans Limited trading as KBC Business Finance Authorised Signature Authorised Signature Date Date YOUR RIGHT TO CANCEL You have a right to cancel this agreement. You can do this by sending or taking a WRITTEN notice of cancellation to the Bank at the address at the top of this agreement. You have FIVE DAYS starting with the day after you receive this copy. You can also use the form below. If you cancel this agreement, any money you have paid and any property given as security must be returned to you. You will still have to repay any money lent to you. But if you repay all of it before the first instalment is due - or, if you are not paying by instalments, within one month after cancellation - you will not have to pay interest or other charges. IMPORTANT NOTICE By signing this Loan Agreement, you are: 1. agreeing to the terms and conditions set out below; and 2. confirming that the information you have provided to us (directly or indirectly) is in all respects true, accurate and complete and may be relied upon by us when deciding whether to enter this Loan Agreement; and 3. requesting us to draw down the Loan and credit the funds in respect of Tranche A to HM Revenue & Customs and or in respect of Tranche B to the Pension Provider or to release the monies by cheque payable in respect of Tranche A to HM Revenue & Customs and or in respect of Tranche B to the Pension Provider; and 4. confirming that the income tax is due and payable to HM Revenue & Customs and or that you wish to make a personal pension contribution to your Pension Plan THE BORROWER IS ADVISED THAT PREMIER HOMELOANS LTD T/A KBC BUSINESS FINANCE OR ANY OF ITS SUBSIDARY COMPANIES MAKES NO WARRANTY OR REPRESENTATION IN RELATION TO THE PENSION PLAN TO WHICH THE CONTRIBUTION IS BEING MADE, THE PENSION PROVIDER WHO MANAGES THE PENSION PLAN OR THE EFFECT (IF ANY) A CONTRIBUTION MAY HAVE ON THE BORROWERS TAX LIABILITIES (SEE STANDARD CONDITIONS 1(B) AND 30) F. Data Protection Notice The Borrower hereby confirms his or her consent to the collection, use, processing and disclosure by the Lender and KBC Finance of personal information relating to him or her and any other information which arises from the conduct of, or in connection with the Loan for the purposes specified in clause 18 of the Standard Terms and Conditions below. Subject to paying any applicable fee the Borrower has the right to obtain a copy of all personal data within the meaning of the Data Protection Act 1998 (UK), the Data Protection Act 1988 (ROI) and the Data Protection (Amendment) Act 2003 (ROI) relating to him or her individually which is held by the Lender, KBC Finance or any other KBC Bank NV Group company and to have any inaccuracies in that data corrected. G. Direct Marketing Each Signatory to this Loan Agreement acknowledges that Clause 18 of the Standard Terms and Conditions below entitles the Lender, KBC Finance and KBC Homeloans (together ‘the KBC Group’) and its and their successors to use information about him or her to provide him or her individually with information by way of direct marketing. From time to time the KBC Group may notify you of promotional offers, competitions and information on further identified products and services. The KBC Group offers individuals a wide range of investment products. The information given on this form may be used to send you marketing materials or to electronically communicate with you or telephone you about products and services available from the KBC Group and carefully selected third parties. In order to receive this information please tick this box The KBC Group offers individuals a wide range of credit/loan and insurance related products (including both business and personal related products). The information given on this form may be used to send you marketing material or telephone you about these products and services. Where any signatory does not wish to receive this information he or she should indicate this by ticking this box If any signatory to this Loan Agreement subsequently decides he or she no longer wishes to receive such information, he or she may notify the Lender free of charge at KBC Bank Ireland plc, Number One, Lanyon Quay, Belfast, BT1 3LG or e-mail marketing@kbc.ie. Each signatory should note the fact that if he or she chooses not to receive such information, this will not affect any aspect of the facilities and services that KBC Group provides to the Borrower now or in the future. H. Identity details required (if not previously furnished) (i) One form of photographic I.D. appropriately certified such as a current valid passport or driving license or alternatively two forms of uncertified photographic I.D. (ii) Two original current utility bills/bank/building society statements. I. Cancellation Form To: Premier Homeloans Limited c/o KBC Bank Ireland plc, Number One, Lanyon Quay, Belfast BT1 3LG I/We hereby give you notice that I/we wish to cancel our loan agreement with you in relation to the payment of professional services. Signed Date / / Instruction to your Bank or Building Society to pay by Direct Debit Please fill in the whole form and send it to: Premier Homeloans Ltd t/a KBC Business Finance,Sandwith Street, Dublin 2. Name and full postal address of your Bank or Building Society To the Manager: Bank / Building Society Address: Post Code: Name(s) of Account Holder(s): Instructions to your Bank/Building Society Please pay Premier Homeloans Ltd. T/A KBC Business Finance Direct Debits from the account detailed in this Instruction subject to the safeguards assured by The Direct Debit Guarantee. I understand that this Instruction may remain with KBC Finance and, if so, details will be passed electronically to my Bank / Building Society. Signature(s): Branch Sort Code No: Date: Originator’s Identification No: 9 6 4 5 7 3 Reference No: Bank / Building Society Account No: Premier Homeloans Limited T/A KBC Business Finance. Registered in England and Wales. Number 2267120. Registered office: 14-15 Quarry Street, Guildford, Surrey GUI 3UY. Banks and Building Societies may not accept Direct Debit Instructions for some types of account. Standard terms and conditions In addition to the terms and conditions set out above, the Loan specified in Section B above is subject to these Standard Terms and Conditions which form part of this Loan Agreement. Unless the context otherwise admits or requires, any term defined above has the same meaning in these Standard Terms and Conditions and vice versa. 1. Authority to remit Loan to the Revenue. (a) The Borrower hereby irrevocably authorises the Lender to remit the proceeds of Tranche A directly to HM Revenue and Customs, provided however, if the Lender has received evidence of a receipt of payment (which is satisfactory to Lender in its absolute discretion) from HM Revenue and Customs of an amount at least equal to the amount of Tranche A in relation to the Borrower’s tax liability in connection with which tax liability Tranche A is requested, then the Lender will remit the proceeds of Tranche A directly to the Borrower at the business address specified above. (b) The Borrower hereby irrevocably authorises KBC Bank Ireland plc to remit the proceeds of Tranche B directly to the Pension Provider. 2. Interest. The Borrower will pay interest on the Loan, at the rate specified in Section C above. 3. Repayment. The Borrower will repay the Lender the whole of Loan plus interest by the instalments specified in Section B above. 4. Default Interest. The Borrower will pay interest (payable on demand) on any overdue instalments at the rate of 2% per month or part thereof. 5. All Information furnished is true. The Borrower warrants that the information furnished to the Lender for the purpose of this Loan is true and accurate in every respect and that terms and conditions set out (here and above) have been read by the borrower before signing this Loan Agreement and that full disclosure has been made to the Lender of all facts in relation to the Borrower which ought properly to be made known to the Lender when contemplating the provision of loan facilities to a borrower. 6. Events of Default. The Lender shall be entitled to cancel its commitment to provide any loan to the Borrower and to demand immediate payment of the Loan and any overdue instalments and interest and any other amounts outstanding in connection with this Loan Agreement (including, without limitation, any amounts of principal, interest, charges, costs (including any broken funding costs) and expenses), less a rebate of interest calculated in accordance with The Consumer Credit (Early Settlement) Regulations 2004, at any time if any of the following events occur; a) if he defaults in the payment of any sum due in connection with the Loan or if he defaults in the performance of any other term or condition contained in this Loan Agreement; or b) if any warranty, statement or representation made by him to the Lender is untrue in any material respect; or c) if he breaches any other obligation to the Lender; or d) if the Lender receives a notice of a third party debt order or a garnishee order in respect of the Borrower or if the Lender receives a notice of attachment in relation to the Borrower from the Inland Revenue/the Revenue Commissioners pursuant to Section 1002 of the Taxes Consolidation Act 1997 of the Republic of Ireland (“ROI”); or e) if any Judgement or order is made against him and is not wholly stayed or complied with within a period of 30 days; or f) if a distress or execution is levied upon or effected against any of his property; or g) if a receiver or other similar officer is appointed over any of his assets or other steps are taken to enforce any mortgage, charge pledge or lien granted by him; or h) if he stops payment of his debts or ceases or threatens to cease to carry on his business; or i) if he enters into an agreement or composition with his creditors, without the prior approval in writing of the Lender; or j) if he commits any act of bankruptcy or any order is made declaring him bankrupt or if he dies or becomes of unsound mind; or k) if any event occurs which, in the opinion of the Lender, is likely to have a material adverse effect on his business or his future prospects or is detrimental to the interests of the Lender. 7. Termination by Borrower. Should the Borrower wish to terminate this Loan Agreement while any amounts in connection with the Loan (including, without limitation, any amounts of principal, interest, charges, costs (including any broken funding costs) and expenses) remain outstanding, the Borrower shall give three business days prior notice to the Lender and the Borrower shall pay to the Lender, on the date specified in the notice, an amount of pounds sterling equal to the amount of pounds sterling outstanding under all monthly instalments then outstanding, together with all other interest, fees, costs or expenses, if any incurred by the Lender as a result of such early repayment less a rebate of interest calculated in accordance with the Consumer Credit (Early Settlement) Regulations 2004. 8. Gross up of Payments. All payments must be made by the Borrower free and clear of all deductions, including (without limitation) withholding taxes. If the Borrower is compelled by law or regulation to deduct any such amount, the amount payable hereunder will be automatically increased so that the net amount payable after allowing for such deduction would be equal to the amount which would have been payable if no such deduction had arisen. 9. Time and method of the essence. For the purposes of this Loan Agreement, both time and method of payment shall be of the essence. 10. Increased costs. If as a result of any law or regulation or any direction of a regulatory authority, the cost to the Lender of providing the Loan is increased or its profit on the Loan is reduced, the Borrower must pay such increased interest as is necessary to compensate the Lender for such increased cost or reduction in profit. 11. Costs and expenses. The Borrower must immediately on demand pay to the Lender all costs and other expenses, including legal fees and expenses, reasonably incurred by the Lender in preserving, perfecting or enforcing or seeking to preserve, perfect or enforce any of the Lender’s rights under or in connection with this Loan Agreement. 12. Waivers. Any relaxation or delay by the Lender in enforcing the terms of this Loan Agreement shall not affect the Lender’s rights or constitute a waiver of any of the terms of this Loan Agreement. 13. Protection of Statutory Rights. No provision of this Loan Agreement shall affect, or be construed so as to effect, the Borrower’s statutory rights under the Consumer Credit Act, 1974. If there is any conflict between the Loan Agreement on the one hand and the Borrower’s statutory rights on the other hand, the Borrower’s statutory rights will prevail. We would like to draw your attention to the following information relating to the safeguards of the Direct Debit Scheme: The Direct Debit Guarantee • This guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the scheme is monitored and protected by your own Bank or Building Society. • If the amounts to be paid or the payment dates change KBC Bank Ireland plc will notify you 10 working days in advance of your account being debited or as otherwise agreed. • If an error is made by KBC Bank Ireland plc or your Bank or Building Society, you are guaranteed a full and immediate refund from your branch of the amount paid. • You can cancel a Direct Debit at any time by writing to your Bank or Building Society. Please also send a copy of your letter to us. Once you have read this please complete the direct debit mandate. Premier Homeloans Ltd. T/A KBC Business Finance. Registered in England and Wales. Number 2267120. Registered Office: 14-15 Quarry Street, Guildford, Surrey GUI 3UY. 14. Severance. If at any time any provision of this Loan Agreement is held to be unenforceable, the remaining provisions shall nonetheless be enforceable. 15. Notices. Notices may be given by hand, by facsimile, or by post. They shall be deemed given, if given by hand, when delivered, if facsimiled, when the transmission is completed, if posted, 48 hours after posting. 16. Credit Searches. The Borrower acknowledges that, as part of its normal procedures, the Lender, may carry out searches of the records held by credit reference agencies (including the Irish Credit Bureau and Experian) against him and/ or his business and will also supply information to them about him and his business and the conduct of the Loan. The Borrower should note that the credit reference agencies will keep for a period of at least a year, a record that a search has been made, and they will inform anyone else carrying out a search of the other searches made against him in that period. 17. Assignment. The Lender may at any time without notice to or consent from the Borrower assign its rights and obligations in respect of the Loan to any person. The Borrower may not assign or transfer his rights and obligations in respect of the Loan. 18. Data Protection. The Lender shall be entitled and the Borrower hereby authorises and consents for the purposes of the Data Protection Act 1998 (UK), the Data Protection Act 1988 (ROI) and the Data Protection (Amendment) Act 2003 (ROI) (without the need for any further consent from or notice to the Borrower): (1) the Lender providing the Loan to the Borrower and processing transactions in relation thereto; (2) to the Lender providing any information concerning the Borrower to any (or to any proposed) assignee, transferee, or successor or their respective officers, employees, agents and advisers, KBC Bank Ireland plc and to any other member of KBC Bank NV Group and their respective officers, employees, agents and advisers; (3) to the Lender providing any information concerning the Borrower to any credit reference agency; (4) to the Lender making such enquiries about the Borrower as it from time to time, considers appropriate; and (5) to any of the above parties referred to in (2) above, sending the Borrower details of their products and services. 19. Recording of telephone conversations. The Borrower consents to the Lender recording telephone conversations between (i) the Lender, and the Borrower and (ii) KBC Bank Ireland plc and the Borrower, and the Borrower consents to any such recording, or the transcript thereof, being used in evidence in any litigation, arbitration or other dispute proceedings. 20. Interpretation. In this Loan Agreement the headings are for convenience only and shall not affect the interpretation of this Loan Agreement. As the context admits or requires references in this Loan Agreement to any gender include all genders and references to the singular include the plural and vice versa and references to any legislation includes references to that legislation as amended or re-enacted from time to time. Any reference to ‘the agreement’ shall be interpreted as a reference to this agreement and shall have the same meaning as ‘Loan Agreement’ and any reference to the ‘Act’ in Section D of this Loan Agreement shall be construed as a reference to The Consumer Credit Act 1974. Any reference to ‘loan’ in this Loan Agreement shall have the same meaning as the ‘Loan’. The reference to ‘Bank’ in the section headed ‘Your Right to Cancel’ shall be interpreted as a reference to Premier Homeloans Limited trading as KBC Bank Ireland plc and shall have the same meaning as the ‘Lender’. 21. Power of Attorney. By way of security for the Borrower’s obligations under this Loan Agreement, the Borrower irrevocably appoints the Lender as his attorney to do anything which he is required to do by this Loan Agreement. The Lender may delegate this power. The Borrower undertakes to ratify and confirm all things done by the Lender or its delegate in the exercise or purported exercise of this power of attorney. 22. Certificates of the Lender conclusive. A certificate of the Lender as to the amount which is payable to it under this Loan Agreement shall, in the absence of manifest error and until the contrary is proved, be conclusive for the purpose of this Loan Agreement 23. No commitment to further loans. Nothing in this Loan Agreement shall be construed as requiring the Lender to provide any further tax or other loans to the Borrower and the provision of any further loans shall be solely at the discretion of the Lender. 24. Payments by direct debits. All payments by the Borrower hereunder shall, unless otherwise specified by the Lender, be made by direct debit and the Borrower undertakes to complete any direct debit orders which the Lender may require. The Borrower agrees that a direct debit order given by the Borrower in connection with this facility can be relied upon by the Lender for any other facility and vice versa. 25. Governing law. This Loan Agreement shall be governed by, and shall be construed in accordance with, the laws of Northern Ireland. 26. Jurisdiction. It is irrevocably agreed for the benefit of the Lender that the courts of Northern Ireland are to have jurisdiction to settle any disputes which may arise out of or in connection with this Loan Agreement and that accordingly any suit, action or proceeding arising out of or in connection with this Loan Agreement (in this clause referred to as “Proceedings”) may be brought in such courts. Nothing in this clause shall limit the right of the Lender to take Proceedings against the Borrower in any other court of competent jurisdiction, nor shall the taking of Proceedings in one or more jurisdictions preclude the taking of Proceedings in any other jurisdiction, whether concurrently or not. 27. Counterparts. This Loan Agreement may be signed by the different parties hereto on separate counterparts and, if so signed, will be as effective as if all signatures on the counterparts were on a single copy of this Loan Agreement. 28. Effective Date. This Agreement shall not be binding on the Lender until the date (above) upon which it is signed by a duly authorised signatory of the Lender (“the Effective Date”) and the Loan shall be deemed to have been advanced to the Borrower on the Effective Date. 29. Judgements and Currencies. If for the purposes of obtaining judgement in any court it is necessary to convert a sum due hereunder in one currency (in this clause called the “first currency”) into another currency (in this clause called the “second currency”) the rate of exchange which shall be applied shall be that at which in accordance with normal banking procedures, the Lender could purchase the first currency with the second currency on the business day preceding that on which final judgement is given and the Borrower’s obligation in respect of any such sums due from it to the Lender hereunder shall, notwithstanding any judgement in the second currency, be discharged only to the extent that on the business day following receipt by the Lender of any sum adjudged to be due hereunder in the second currency the Lender may in accordance with normal banking procedures purchase the first currency with the second currency. If the first currency so purchased falls short of the sum originally due to the Lender in the first currency the Borrower agrees that it shall as a separate obligation and notwithstanding any such judgement indemnify the Lender against such shortfall. 30. No Warranty in relation to the Pension Plan. The Borrower acknowledges that the Lender does not give, make or agree to any warranty, term, stipulation or representation expressed or implied in respect of the Pension Plan, the Pension Provider and the effect (if any) a contribution may have on the Borrower’s tax liabilities. The Pension Provider is not an agent of the Lender.