Common use of CREDIT REPAIR Clause in Contracts

CREDIT REPAIR. 7.1 A supplementary credit repair Agreement is attached (Appendix E). 7.2 All subscribers to the GTA who have elected to also apply the supplementary credit repair agreement are required to also abide by the dispute resolution mechanism as described in paragraph 2.7 of the GTA in relation to disputes between individual subscribers to the supplementary credit repair agreement that, in the opinion of either party, raise issues of principle or interpretation of operation or wording of the supplementary credit repair agreement (unless the two subscribers at issue have agreed alternative bilateral arrangements for the resolution of their disputes). The principles in paragraph 2.8 will also apply to any equivalent changes to the supplementary credit repair agreement. Enclosures Enclosure 1 GTA subscription administration arrangements 1. Subscribers will be required to pay any subscriptions set by the GTA Technical Committee. Failure to pay any subscription within three weeks of a reminder sent four or more weeks after the invoice date will be deemed to mean that the subscriber no longer wishes to subscribe to the protocol and their company name will be removed from the subscriber list. 2. Unless agreed to the contrary by the Technical Committee, the required income to cover the GTA administration arrangements will be collected from subscribers with insurers meeting half the costs and CHOs the other half. 3. Subscriptions will be collected for insurers by the ABI and for CHOs by The CHO Ltd. The arrangements will apply whether or not the subscriber is a member of the relevant trade association. The ABI and The CHO will each be entitled to recover, from the sums that they collect, their respective costs of administering the collection of subscriptions from relevant subscribers to the GTA, provided these do not exceed 10% of the sums collected. 4. The ABI and The CHO is able to set separately the basis for the allocation of subscriptions between insurer and CHO subscribers. This must be set following consultation with subscribers (ABI for insurers and The CHO Ltd for CHOs) and must command majority support, by number of subscribers and volume of business. In the absence of majority support for any proposed allocation method, all subscribers for either insurers or CHOs (as applicable) will be required to pay an equal share of the overall share to be collected. 5. The GTA Technical Committee is able to set a fee (at cost) for an independent audit to vet any applications from CHOs applying to subscribe to the protocol. Audits will be non-refundable and only carried out after payment is received. For successful applicants, the cost of the audit will be deducted from any subscriber subscription for the year of joining. New subscribers will be required to pay their audit fee and/or subscription for the year of joining up front. 6. Subscribers will be required to co-operate with any audit arrangements agreed by the Technical Committee and communicated to all subscribers. Failure to co-operate in an audit or engage in the process will be will be deemed to mean that the subscriber no longer wishes to subscribe to the protocol and their company name will be removed from the subscriber list. 7. If any disputes arise in the interpretation or operation of the subscription administration arrangements, these will be considered and resolved by the GTA Technical Committee. In the absence of an agreed view in the Technical Committee the GTA Chairman will be empowered to make a decision following representations from interested parties. To be supplied by CHO and included in Payment Pack Date of notification by policyholder to 1st party insurer ……………………….. (If available) Date of inspection ………………………… (If available) Date repair authorised ………………………… In total loss/cash in lieu case - Date of settlement offer ………………………………….. - Date offer accepted ………………………………….. - Date cheque received ………………………………….. If repair case - Date satisfaction note signed ………………………………………….. (Attached - copy estimate or agreed labour figure or, if not available, telephone contact details for garage) If applicable – explanation for delays TO BE COMPLETED BY CHO NAME REF TEL E-MAIL ADDRESS DATE FAX NO We attach a copy of the new claim advice form previously submitted, where it contains any additional information which was not available at that time. TO BE COMPLETED BY CUSTOMER Prior agreeing to enter into the hire agreement my duty to keep my losses to a minimum have been explained to me and I had not received an offer for a replacement vehicle from the at-fault insurer. OR I did receive an offer of a replacement vehicle but did not accept it because……………………………………………………………………………… ………………………………………………………………………………………… ………………….. I understand that if I choose to hire on credit I am personally liable for paying for the hire costs which I would not have incurred had I been offered and accepted a suitable courtesy vehicle from my own motor insurer or legal expenses insurer I need to hire a vehicle because ……………………………………………………………………………….………. …………………………………………………………..………………………….. . I believe my own vehicle is unroadworthy and/or unusable and I understand temporary repairs are impractical or uneconomic. I do not have another suitable vehicle available to me, either being my own or through my immediate family. I understand I am classified as a non-standard driver for insurance purposed because (please tick as appropriate): ▪ of age (I am under 25 or older than 70) ▪ of occupation (I am in one of the following groups: Professional – Sportsmen/Women, Actors, Entertainers, Gamblers and Musicians, Publicans, Journalists) ▪ have held a full driving licence in the UK for less than 12 months ▪ of convictions/points (I have convictions resulting in an unspent ban or 7 or more outstanding points in the last 4 years) I have read and understood the above and I believe that the answers I have given are true Signed…………………………….. Name in Block Capitals…………………… Address…………………………….Date…………………………………………. Specimen Payment Request Letter (applicable to ABI Repair and Hire Agreements) This claim is made under the terms of the ABI Credit Repair Agreement and payment is required within one calendar month We initially advised you of this claim on the ………………………………… or This is our first notification and New Claim Advice form is attached. This claim was referred by an insurer? YES/NO The claim consists of, net of VAT, if this tax is recoverable (complete as appropriate) Administration fee (repair/hire only or combined) £ • Repair cost (Supported by engineer’s report NB Settlement of total losses will normally be made direct with the customer (Supported by engineer’s report) • Hire Cost (Supported (as appropriate) by invoice/engineer’s £ report/payment date (total loss/satisfaction note) • Engineer’s Fee (Supported by fee note) £ • Customer Excess (Supported by invoice/insurer confirmation) £ • Storage & Recovery (Supported by invoice) £ • Other as detailed TOTAL £ All appropriate documents are enclosed in support together with the Mitigation Questionnaire/Statement of Truth signed by our customer and the Hire Period Validation Form, if applicable. Please forward a cheque for the total cost payable to ourselves or Please forward cheques as follows………………….. We should be promptly advised if payment will be delayed beyond one calendar month. APPENDIX E ABI GENERAL TERMS OF AGREEMENT - CREDIT REPAIR AGREEMENT‌