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FCA Regulator link to reporting "unfair terms"
We all have the opportunity to use the the FCA reporting facility that follows, this could be anything on your contract that you find limits your rights or causes significant imbalance as the following notes explain:
The Regulations set out a test for deciding whether a term is unfair. Under this test an unfair term is a term that creates a significant imbalance in the parties’ rights and obligations to the detriment of the consumer. For example, a term that allows the seller to change the terms of the contract without a valid reason and without consulting the consumer may be unfair. However, ultimately only a court may decide conclusively whether a term is unfair under the Regulations.In deciding whether a particular term does create a “significant imbalance” between the rights and obligations of the parties we may also, where relevant, take into account other potential breaches of other rules or guidance. It is also important to note that we take a risk-based and proportionate approach to regulation. When deciding whether to take action as a result of an unfair term, we consider factors such as the number of consumers who may be affected and the actual or potential harm. For example, it would not be proportionate for us to spend resources on a case where the number of consumers likely to be affected is low. In addition consumers retain the right to refer individual disputes to FOS.
Our views on the fairness of contract terms do not affect a consumer’s right to take further action themselves, as only a court can ultimately decide if a term is unfair.
The link;
http://www.fca.org.uk/firms/being-re...contracts/faqs
Use drop down menu Q14 :
Q14: What should I do if I think I am subject to an unfair term?
Answer:
Where a consumer believes that a term creates a significant imbalance between their rights and obligations and those of the firm or that a term is not expressed in plain and intelligible language, they should refer the matter to the Consumer Contracts team for their consideration.
Contact us:
Online reporting form
Email: consumer.contracts@fca.org.uk
Postal address: Consumer Contracts Team, Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS
Checklist - does your concern fall under the scope of the Regulations?
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A typical example of an already successfully disputed term under the UTCCR 5.1 regs ( http://en.wikipedia.org/wiki/Unfair_...gulations_1999 )
as follows :
“We may from time to time vary our interest rate. We may
increase or reduce our interest rate to reflect a change which
has occurred or which we reasonably expect to occur in interest
rates generally or to ensure that our business is carried on
prudently, efficiently and competitively"
You can find these terms on your signed contracts & in my most humble opinion there are a hell of a lot of very questionable terms being used to consumer detriment.
Please take a look at the the other bullets & use the "checklist" on Q14 if in doubt !
If you decide to make a complaint it is most likely you will receive an automated response, its a bit impersonal but bear in mind this is a numbers game & the more information/s supplied increases the chances of actions for the benefit of all consumers.
Have a go :director:
Ps; it would be wonderful if you can provide any responses !
The Regulations set out a test for deciding whether a term is unfair. Under this test an unfair term is a term that creates a significant imbalance in the parties’ rights and obligations to the detriment of the consumer. For example, a term that allows the seller to change the terms of the contract without a valid reason and without consulting the consumer may be unfair. However, ultimately only a court may decide conclusively whether a term is unfair under the Regulations.In deciding whether a particular term does create a “significant imbalance” between the rights and obligations of the parties we may also, where relevant, take into account other potential breaches of other rules or guidance. It is also important to note that we take a risk-based and proportionate approach to regulation. When deciding whether to take action as a result of an unfair term, we consider factors such as the number of consumers who may be affected and the actual or potential harm. For example, it would not be proportionate for us to spend resources on a case where the number of consumers likely to be affected is low. In addition consumers retain the right to refer individual disputes to FOS.
Our views on the fairness of contract terms do not affect a consumer’s right to take further action themselves, as only a court can ultimately decide if a term is unfair.
The link;
http://www.fca.org.uk/firms/being-re...contracts/faqs
Use drop down menu Q14 :
Q14: What should I do if I think I am subject to an unfair term?
Answer:
Where a consumer believes that a term creates a significant imbalance between their rights and obligations and those of the firm or that a term is not expressed in plain and intelligible language, they should refer the matter to the Consumer Contracts team for their consideration.
Contact us:
Online reporting form
Email: consumer.contracts@fca.org.uk
Postal address: Consumer Contracts Team, Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS
Checklist - does your concern fall under the scope of the Regulations?
---------------------------------------------------------------------------------------
A typical example of an already successfully disputed term under the UTCCR 5.1 regs ( http://en.wikipedia.org/wiki/Unfair_...gulations_1999 )
as follows :
“We may from time to time vary our interest rate. We may
increase or reduce our interest rate to reflect a change which
has occurred or which we reasonably expect to occur in interest
rates generally or to ensure that our business is carried on
prudently, efficiently and competitively"
You can find these terms on your signed contracts & in my most humble opinion there are a hell of a lot of very questionable terms being used to consumer detriment.
Please take a look at the the other bullets & use the "checklist" on Q14 if in doubt !
If you decide to make a complaint it is most likely you will receive an automated response, its a bit impersonal but bear in mind this is a numbers game & the more information/s supplied increases the chances of actions for the benefit of all consumers.
Have a go :director:
Ps; it would be wonderful if you can provide any responses !
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