STANDARD EUROPEAN CONSUMER CREDIT INFORMATION

1. Identity and contact details of the creditor

Creditor	Penny Farthing Finance
Address	Unit 4G, Block A, Dunhill Ecopark, Dunhill, Co Waterford
Telephone Number	051 345109 087 6469207

2. Description of the main features of the credit product

Approved figure to be stated on the agreement form.

The above figure is representative and may not be your actual credit limit. Typical loans begin at €200 for first time customers with higher credit made available as a credit history is established with the company

The type of credit	Fixed sum cash loan
The total amount of credit.	€100 - €1,000 This means the ceiling or the total sums made available under the credit agreement.
The conditions governing the drawdown. This means how and when you will obtain the money.	Following approval of the loan the agreed credit will be given to you in cash on the date of the agreement.
The duration of the credit agreement	Standard duration is 20, 30 or 52 weeks.
Instalments and, where appropriate, the order in which instalments will be allocated.	You will have to pay the following: 20 week loan = €6 per week per €100 borrowed. 30 week loan = €4.33 per week per €100 borrowed. 52 week loan = €2.85 per week per €100 borrowed.
The total amount of money you will have to pay. This means the amount of borrowed capital plus interest and possible costs related to your credit.	Based on a representative loan of €100 - 20 week loan = €120 30 week loan = €130 52 week loan = €148

3. Costs of the credit

The borrowing rate, or if applicable, different borrowing rates which apply to the credit agreement.	Fixed - 20 week loan = 20% 30 week loan = 30% 52 week loan = 48%
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	20 week loan = 153.25%* 30 week loan = 150.77%* 52 week loan = 128.08%* *Calculation based on first payment being received 7 days from the receipt of the loan
Is it compulsory, in order to obtain the credit or to obtain it on terms and conditions marketed, to take out - an insurance policy securing the credit, or - another ancillary service contract If the costs of the services are not known by the creditor they are not included in the APR	No No
Related Costs	None
Costs in the case of late payments Missing payments could have severe consequences for you and make obtaining credit more difficult	None

4. Other important legal aspects

Right of withdrawal You have the right to withdraw from the credit agreement with a period of 14 calendar days	Yes
Early repayment You have the right to repay the credit early at any time in full or partially.	Yes
Consultation of a database The creditor must inform you immediately and without charge of the result of a consultation of a database, if a credit application is rejected on the basis of such a consultation. This does not apply if the provision of such information is prohibited by European Community law or is contrary to objectives of public policy or public security.
Right to a draft credit agreement You have the right, upon request, to obtain a copy of the draft credit agreement free of charge. This provision does not apply if the creditor is at the time of the request unwilling to proceed to the conclusion the credit agreement with you.

Penny Farthing Finance Terms and Conditions

The credit (a) will be given to you on the date of the agreement in cash, or if mutually agreed, by credit transfer.

The customer is required to furnish proof of identity, date of birth, address and proof of income.

The first instalment is due 7 days from the date of this agreement unless otherwise stated.

Balances must be paid in full by the expiry date (d). Failure to do so may affect further applications for credit.

The customer must inform the company within reasonable time of any change of address or any change in circumstances that may affect the terms of this agreement.

The customer is liable to pay legal costs and expenses reasonably incurred for finding the consumer has changed address without informing the company.

All notices and statements mailed or hand delivered shall be deemed to be validly sent, and received by the customer, once delivered to the address above or the last known address.

Where two or more persons are named as the customer the obligations and liabilities are joint and several.

We may, if you supply false information or fail to comply with any part of this agreement, end the agreement and/or demand all balances outstanding on this agreement. We will give you 10 days notice in writing before taking either of these steps.

You have the right, upon request, free of charge, to receive a full statement of your accounts in the form of an amortisation table.

You have the right to repay the credit early either in part or in full by way of additional payments or a full payment of the balance outstanding. You may then be entitled to a rebate.

You have the right to withdraw from the credit agreement within 14 days of the agreement by contacting us at the above number or in writing to the above address. You will need to repay all capital (a) within 30 calendar days of the notification of withdrawal.

By signing this agreement, the customer acknowledges that the credit (a) is for personal use only and will make available the repayment book on request for updating, inspecting or removal for auditing.

Complaint Policy and Procedures

Policy

We are committed to ensuring that there are clear and effective procedures in place so that any complaints received will be dealt with fairly, reasonably, and promptly. Complaint handling will be carried out in accordance with the “Complaints Handling” provisions of the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020 (‘2020 Regulations’) as of 1 January 2021 and the Financial Services and Pensions Ombudsman (FSPO) complaints process.

Procedure

The company is committed to providing a high standard of customer service and support. From time to time we may not get things right. When this happens, we make every possible effort to deal with the situation promptly and to our customer’s satisfaction.

Anyone can complain who has an active loan or a completed loan. The complaint can be made orally, by text, email, or in writing.

A complaint may be about:

• The quality of our service, standards, or actions
• The way a customer has been treated
• Our policies or our decisions

Complaint handling will be carried out in accordance with “Complaints Handling” section of the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Licensed Moneylenders) Regulations 2020 (‘2020 Regulations’) as of 1 January 2021 with reference to the following issues:

• Providing the customer with a copy of the company’s Complaint’s Procedure Leaflet
• Adherence to stated time scales for dealing with complaints
• Escalation to resolution as required
• Consumer’s right to refer unresolved disputes to the Financial Services and Pensions Ombudsman.

It should also be noted that Section 57 BX 3 (5) of the Central Bank and Financial Services Authority of Ireland Act 2004, prescribes that:

"A consumer is not entitled to make a complaint (to the FSPO) unless the consumer has previously communicated its substance to the regulated Financial Service Provider concerned and has given that Financial Service Provider a reasonable opportunity to deal with it."

On receiving a complaint from a customer:

• A customer is permitted to complain orally, by text, email, or in writing. All complaints will be treated the same irrelevant of the method of communication.
• If a customer makes a complaint in person, over the telephone, Email or SMS text, attempt to resolve the complaint immediately and sympathetically.
• The complaints procedures need not apply where the complaint has been resolved to the complainant’s satisfaction within 5 business days, however a record of this fact including details of the complaint and resolution will be maintained.
• If immediate resolution is not possible, the company will acknowledge the complaint in writing, within 5 business days and give or send the customer the company’s Complaints Procedure Leaflet and inform the customer that their complaint is being dealt with.
• Before 10 business days have elapsed, the company will contact the complainant either in person, over the telephone or, if appropriate, in writing and let them know the outcome (or the reason for any delay).
• A regular written update on the progress of the investigation of the complaint must be provided at intervals of not greater than 20 business days.
• If a complaint is not resolved within 40 business days the complainant will be informed in writing of the anticipated timeframe for resolution and their right to refer the complaint to the Financial Services and Pensions Ombudsman (FSPO). Contact details for the FSPO will be included in the correspondence.
• It is the company’s policy to make every effort to resolve a complaint as soon as possible and prevent the need to escalate the matter to the Financial Services and Pensions Ombudsman (FSPO).

Record Keeping

The company will retain records of all complaints, including complaints that are resolved to the complainant’s satisfaction within 5 business days and therefore not subject to the complaint’s procedures.

The company will maintain up-to-date records of all complaints subject to the complaint procedure. This record will contain the details of each complaint, a record of the company’s response(s), any other relevant correspondence or records and the action taken to resolve each complaint.

Business Day: “Business Day” is defined by the Consumer Protection Code for Licensed High Cost Credit Providers as “any day except Saturday, Sunday, bank holidays and public holidays”