V12VF | Consumer Duty | April 23 - Flipbook - Page 23
If you apply or wish to apply any of these add-ons to the loans associated with V12VF products:
a) The total credit charge of any add ons to the loan must be presented to the customer.
b) You must be able to explain to V12VF the sales process (advertisement, presales disclosure, application to the loan etc)
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evidence the disclosure to the customer (advertisement, pre-sales disclosure, application to the loan)
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explain the criteria for applying (how, who, when).
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It must not be a charge for the arrangement or introduction of finance to the customer.
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You identify the details and cost of the add-ons where funded on a V12VF agreement so it can be identified separately, as
well as being included in the total sales price.
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In the proposal submission (via Calms system or integration fields, using the DFO fields)
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On the invoice
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You retain and make available for audit any documents relating to the sale of add-ons on a V12VF loan.
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You will share complaints data with V12VF where they are concerned with the add-ons of sales process.
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