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Business Accounts....statutes/reports

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  • Amethyst
    started a topic Business Accounts....statutes/reports

    Business Accounts....statutes/reports

    UTCCR

    Sole Traders have oft be told they can claim under UTCCR....I don;t think they can. However I think it is something needs looking into further urgently.

    UTCCR 1999 covers business to consumer - the only way it could apply to business accounts were if the charges were incurred outside of the course of the business.

    But as it is a business account by definition the charges are incurred as a business transaction.

    UCTA

    This only covers terms which limit liability.


    Liquidated Damages

    Common law based on the charge being triggered on a breach of contract. With penalties out then this is also out.


    EU Directives

    COUNCIL DIRECTIVE 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts - only apply to consumers (

    (b) 'consumer' means any natural person who, in contracts covered by this Directive, is acting for purposes which are outside his trade, business or profession; )


    ================================================== ===============================================
    REPORTS/INVESTIGATIONS


    Unfair Contracts Bill - Law Commissions

    So we're back to this final report draft bill.which isn't in yet.

    Originally posted by law commission
    In July 2006, the Government told us that it accepts our recommendations, subject to a regulatory impact assessment. If the assessment proves favourable, the Department of Trade and Industry will seek an opportunity to introduce appropriate legislation to implement our recommendations as soon as practicable.
    and the government response - http://www.berr.gov.uk/files/file34128.PDF


    Its pending regulatory impact assessment.

    Going to ask some questions of some people about it.


    COmpetition Commission Report 2002


    Summary of report (html format) Full text (pdf format) http://www.competition-commission.or...2/462banks.htm

    Originally posted by [SIZE=3
    Lord McIntosh of Haringey:[/size] 14 Mar 2002]"Let me set out the Competition Commission's findings. First, it finds that these banks had failed to compete on price by: refusing to pay interest oncurrent accounts and only paying low rates of interest on smaller, short-term deposit accounts; and by maintaining a structure of charges not related to costs.


    The Office of Fair Trading: Small and medium sized enterprise (SME) banking review.





    • The Supply of Goods and Services Act 1982

    requires a supplier of a service acting in the course of business in England, Wales and Northern Ireland to carry out that service with reasonable care and skill and, unless agreed to the contrary, within a reasonable time and make no more than a reasonable charge.
    Last edited by Amethyst; 3rd May 2009, 20:42:PM.

  • Jeyson
    replied
    Very helpful information. Thank.

    Leave a comment:


  • Amethyst
    replied
    Re: Business Accounts....statutes.

    Limitations doesnt run from entry of a court claim, it runs from the first complaint (so the prelim letter really) so I don't feel there is any need to enter a court claim to protect limitations period. Of course business accounts not being under the waiver means that without arguing exclusion of limitations period you can go back to 2003 if you were sending your first complaint in now. Personal accounts are held at 27 July 2001, complaint in yet or not.

    Leave a comment:


  • natweststaffmember
    replied
    Re: Business Accounts....statutes.

    There is an argument by some which includes personal accounts to file at court because of limitations arguments. What is your take on that?

    Leave a comment:


  • Amethyst
    replied
    Re: Business Accounts....statutes.

    I can't recommend anyone going to court with it, well we havent done since the original penalty judgment but prelim, lba (using banks complaints system so 8 weeks etc), possibly FOS,tho they are coming down on the banks sides more now, is still okay.....just removing the risk from the claimants for now. Theres some cases coming up which might give a clearer picture. Some banks are still paying out on letters, so don;t give up just be very aware of the risks if you want to take it to court.
    Originally posted by jax007 View Post
    Should we hold fire with Business Claims forward for the time being Ames?

    I have one with 2nd LBA sent in for son-in-law.

    jax

    Leave a comment:


  • jax007
    replied
    Re: Business Accounts....statutes.

    Should we hold fire with Business Claims forward for the time being Ames?

    I have one with 2nd LBA sent in for son-in-law.

    jax

    Leave a comment:

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