- Clients are not allowed to deal with non-licensed companies. A list of licensed companies is available on the Authority’s website or by contacting customer service
- Before taking a decision, it’s crucial to thoroughly understand all aspects of the product or service. This includes details like terms and conditions, payment options, rescheduling terms, data privacy, related costs e.g. interest rates, finance charges, application fees, release fees , and any other administrative expenses the company or financial institution may charge
- Verify that all necessary information is complete and trustworthy.
- Take time to thoroughly review all the contract terms. Make sure you fully grasp the meaning of each provision and that terms of the contract are unambiguous and you have the ability to comply with it
- Clients have the right to ask any questions if aspect of the financing agreement or associated documents seems unclear. The company shall provide clear responses in this respect
- Clients have the right to receive a copy of any contract or document they sign
- All parties to the contract shall abide by the agreed-upon terms.
- Beware of signing blank documents or security receipts – they may not guarantee funding.
- Don’t sign anything that gives the company or financial institution the right to share your personal or financial information without your permission
- Ensure you are fully informed of all costs associated with dealing with a financial institution
- Upon settlement of any financial obligation to the institution, ensure you receive a formal receipt.
- Clients have the right to receive a product or service that meets the agreed-upon specifications as outlined in the contract
- Use the product or service according to the rules outlined in your contract with the financial institution.
- Pay your premiums on time as per the agreed-upon schedule
- Once your service ends or you make a full payment (whichever comes first), get your documents and guarantees back from the company right away.
- Make sure the person you’re dealing with is a legitimate employee of the financial institution before disclosing any personal or account information
- For any disputes with the company, utilize the designated channels for addressing concerns and finding a solution.
- Start by trying to resolve the issue directly with the company’s Complaints Department. If you’re unhappy with their response, you can then escalate your complaint to the Authority’s Complaints Department for further assistance
