Terms & Conditions

 

These Terms (together with the documents referred to in it) tell you the terms on which you may make use of our website, symplifi.co.uk, and any services that we provide to you through our website including any mobile version or app (our website), whether as a guest or a registered user. Use of our website includes accessing, browsing, or registering to use on any of our website. 

Please read these Terms carefully before you start to use our website, as these will apply to (i) your use of our website; (ii) our services; and (iii) your relationship with certain third parties. We may make changes to these Terms from time to time and you should regularly review this page.

By using our website, you confirm that you accept these Terms and that you agree to comply with them. Registration as a user of SympliFi includes your agreement that these Terms will apply to your use of our website. If you do not agree to these Terms, you must not use our website.

You should also see our Privacy Policy which sets out the terms on which we process any personal data we collect from you, or that you provide to us.

 

About us

SympliFi.co.uk is a site operated by Simplifi Financial Solutions Limited (Symplifi, we or us or our). We are a company registered in England and Wales (company number 10872479) and our registered address is Templeback, First Floor, 10 Temple Back, Bristol BS1 6FL. You can write to us at this address or email us at contact@symplifi.co.uk.

 

General terms applying to our website

Accessing our website

We do not guarantee that our website, or any content on it, will always be available or be uninterrupted. Access to our website is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of our website without notice. We will not be liable to you if for any reason our website is unavailable at any time or for any period.

You are responsible for making all arrangements necessary for you to have access to our website.

You are also responsible for ensuring that all persons who access our website through your internet connection are aware of these Terms and other applicable terms and conditions, and that they comply with them.

You must be at least 18 years old to access the services on our website.

 

Changes to our website

We may update our website from time to time and may change the content at any time. However, please note that any of the content on our website may be out of date at any given time, and we are under no obligation to update it.

We do not guarantee that our website, or any content on it, will be free from errors or omissions.

 

Intellectual property rights

We are the owner or the licensee of all intellectual property rights in our website (including the “look and feel” of it), and in the material published on it. Those works are protected by copyright and trademark laws and treaties around the world. All such rights are reserved.

You may print off one copy, and may download extracts, of any page(s) from our website for your personal use and you may draw the attention of others within your organisation to content posted on our website.

You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.

Our status (and that of any identified contributors) as the authors of content on our website must always be acknowledged.

You must not use any part of the content on our website for commercial purposes without obtaining a licence to do so from us or our licensors. 

If you print off, copy or download any part of our website in breach of these Terms, your right to use our website will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.

 

You must not:

  • disassemble or attempt to reverse engineer any software in our website, except as permitted by law;

  • copy, distribute or communicate to the public content from our website or seek to copy, remove or alter any regulatory notices, trademarks, logos or business names from our website; or

  • use a program or application to generate quotes or to scrape, copy or index the content from our website;

  • use or launch automated systems such as bots, spiders or load testers that access or attempt to access our website or services.

 

No reliance on information

Although we make reasonable efforts to update the information on our website, we make no representations, warranties or guarantees, whether express or implied, that the content on our website is accurate, complete or up-to-date.

 

Third party links and resources in our website

Our website may contain links to other sites and resources provided by third parties. We have no control over the contents of those sites or resources and they will be governed by separate terms and conditions.  

You should ensure that you understand the regulatory notices, terms and conditions and privacy policies of any third-party website which you might be agreeing to.

 

Limitation of our liability

Nothing in these Terms excludes or limits our liability for fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by English law. 

To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our website or any content on it, whether express or implied.

We will not be liable to any user for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise for,

  • losses that:

  • were not foreseeable to you and us when this contract was formed; or

  • that were not caused by any breach on our part; or

  • business losses; or

  • losses to non-consumers

arising under or in connection with:

  • use of, or inability to use, our website;

  • any delay in execution, or a change or fluctuation in a market or currency; or

  • use of or reliance on any content displayed on our website.

You agree not to use our website for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our website or to your downloading of any content on it, or on any website linked to it.

We assume no responsibility for the content of websites linked on our website. Such links should not be interpreted as endorsement by us of those linked websites. We will not be liable for any loss or damage that may arise from your use of them.

Viruses

We do not guarantee that our website will be secure or free from bugs or viruses.

You are responsible for configuring your information technology, computer programmes and platform in order to access our website. You should use your own virus protection software.

You must not misuse our website by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our website, the server on which our website is stored or any server, computer or database connected to our website. You must not attack our website via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our website will cease immediately.

 

Linking to our website

You may link to our home page, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it.

You must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part where none exists.

You must not establish a link to our website in any website that is not owned by you.

Our website must not be framed on any other site, nor may you create a link to any part of our website other than the home page.

We reserve the right to withdraw linking permission without notice.

 

Posting content

We may allow you, and other users, to post content to publicly available areas of our site, such as a blog. If you do you are responsible for that content and grant to us a perpetual, worldwide, non-exclusive, royalty-free, sub-licensable and transferable licence to use, reproduce and create derivative content, in whole or in part and in any format and through any media channel, including social media.

You are not allowed to post any content that is libellous, defamatory, indecent, obscene, pornographic, harassing or otherwise offensive (in our opinion). You must not post content which would infringe the proprietary rights of any other person.

You must not abuse our facilities by soliciting for donations, signatures, sales or business opportunities or advertising or promoting any goods or services. You should respect other user’s privacy and must not copy personal or business information or attempt to contact any other user directly without their consent.

You agree we can edit for clarity, or delete, any content.

 

Your indemnity to us

You shall indemnify and hold harmless us, and our directors, employees and partners against all claims and expenses attributable to any breach of these terms by you.

Changes to these Terms

We may modify these Terms from time to time in accordance with this clause and the current terms will always be posted on our website, including the last revision date. Accessing our website after any change is deemed acceptance of those changes.

We may, without limitation, amend these Terms:

  • in order to comply with applicable laws or regulations;

  • to make these Terms fairer or clearer, or to correct mistakes;

  • to reflect changes in the way that third parties provide services to us or interact with you;

  • to enable us to make changes to our own services as we develop our technology and the things that we may decide to offer to you.

If we propose a change that is detrimental to registered users, we will give 30 days’ notice of those proposed changes (unless we are obliged to make the change sooner for legal or regulatory reasons) but otherwise we may make such changes immediately.

 

Language

The language used on our website, and in relation to any information and any communication with us, will be English.

 

Third Party Rights

These Terms and Conditions and any SympliFi Guarantee or Guarantee are not intended to confer a benefit upon any third party under the Contracts (Rights of Third Parties) Act 1999.

 

Applicable law

These Terms, its subject matter and its formation, are governed by English law. If you live in the United Kingdom, you and we both agree to that the courts in the part of the United Kingdom in which you reside will have non-exclusive jurisdiction in relation to any proceedings. If you do not live in the United Kingdom, the course of England and Wales will have exclusive jurisdiction in relation to any proceedings.

 

Terms relating to our services

 

What do we do?

Through our network of partner financial institutions, we can simplify the process of accessing credit for borrowers overseas. Through a partner institution, potential borrowers can ask friends and family in the UK to support them by acting as a guarantor. We simplify the lending process by directly guaranteeing a loan with the relevant Lender. In return, Guarantors agree to provide us with a Guarantee for an equivalent amount in GBP.

 

Pre-contract information

Before you agree to provide a guarantee, you must read the “How it works” page on the website. This document can also be sent by email. Its contents are important. Entering into a Guarantee is a legally binding commitment. If there’s anything that you don’t understand, you need to ask us prior to accepting the Terms and Conditions.

The Guarantee is an obligation to pay SympliFi a sum of money if SympliFi is obliged to make a payment to the Lender in respect of a SympliFi Guarantee which is related to the Guarantee. A Guarantor is never a party to the loan agreement and never has any obligation to the Lender.

 

Your responsibility

We will agree to act as a guarantor for the Borrower for all or part of the obligations under the Borrower’s Agreement. In return you will pay to us, by way of security for the performance of your obligations under any guarantee, the amount of the Guarantee. We will hold this money in a SympliFi custodian account.

We will repay those sums to you on discharge of the Borrower’s obligation under the Borrower’s Agreement or upon expiry of the Guarantee, whichever is the earlier.

Following demand(s) for payment from us, we will take an amount equal to the demand(s) up to, in aggregate, the amount of the Guarantee from the Account. You unconditionally and irrevocably undertaking to let us use the amount held in the Account, upon our first written demand, provided that:

  • our demand by email must state that the Borrower has failed to perform its obligations to the Lender under the Borrower’s Agreement and the amount was claimed from us by the Lender; and

  • your obligations in respect of the Guarantee shall not exceed the agreed amount of your Guarantee; and

  • any demand guarantee will expire on discharge of the Borrower’s obligation under the Borrower’s Agreement or, if relevant, upon expiry of the Guarantee, whichever is the earlier.

You will not be entitled to any interest on any sums you give to us as security for your obligations.

Your responsibilities under a Guarantee are owed to us and not the Lender. We do not have to make any demand on, or takes any steps against, the Borrower or any other person, before requiring payment from you under a demand guarantee.

 

Continuing guarantee

Except for where the Borrower has repaid the loan in full (or has otherwise been released from all of their obligations to repay by the Lender), any Guarantee will not be affected by:

  • any change to the Borrower’s Agreement;

  • any other security or guarantee the Lender takes relating to the Borrower’s responsibilities;

  • any security taken for the Borrower’s Agreement or the failure to realise or enforce any security or the failure to take any security;

  • the Borrower dying, becoming bankrupt or insolvent;

  • the Borrower entering an individual voluntary arrangement (IVA), debt relief order (DRO) or similar; or

  • us transferring our rights and responsibilities under the Borrower’s Agreement or our guarantee to the Lender.

 

Card payment authority

Before any Borrower’s Agreement has been entered into, you must transfer the amount of the requested Guarantee from your payment card (debit / credit), that will be held in Account. Further details about account are set out below.

If we are unable to take payment, we cannot act as guarantor to a Borrower.

Collecting payments from your payment card is not an enforcement of a Guarantee.

For your security, we might need to verify your payment card against the details you’ve provided. For this ‘pre-authorisation’ check your Account must have at least 1p available. Rest assured that this check is not a charge and no funds will be debited from your Account. The amount may show as a pending transaction but will be available again within a few days.

If the Borrower repays a loan or a loan instalment in respect of which you have given a Guarantee we will transfer funds back to your payment card. For regulatory reasons we can only refund sums to the card which you used to pay with.

 

The custodian account

When you provide details of a payment card, this will be securely held by Global Currency Exchange Network Limited T/A GC Partners and Global Custodial Services Limited T/A GC Partners (together GC Partners), who we have appointed to act as a payment services provider and custodian. We have instructed GC Partners to operate a separate custody account for receiving and holding (and repaying) any sums that you pay to us as security for your obligations.

However, if Simplfi becomes insolvent, an administrator or liquidator is not bound to follow the instructions that we have given to GC Partners. This means that they are entitled to use the money in the custody account to pay other creditors.

GC Partners is separately obliged to safeguard the funds in the custody account. If GC Partners becomes insolvent, SympliFi may make a claim to recover funds from the bank which maintains the safeguarding account. However, if the administrator incurs costs in distributing the funds, SympliFi may recover may be less than the total amount of the custody account. This does not alter SympliFi’s obligation to repay the entire amount to you if the Guarantee is not required.

 

Independent advice

You should not act as a guarantor unless you are sure you know exactly what the responsibility is that you are taking on. If you are at all unsure, we strongly recommend that you take independent legal advice from your solicitor or your local citizens advice bureau.

 

You must tell us about any changes

Every so often we need to contact you about the Borrower’s Agreement. To make sure we can do this, you must tell us within seven days if you’ve changed your home address, your name, your email address, or any phone number that we use to contact you.

You can tell us about any change in writing at our normal address or by logging into your Account at www.symplifi.co.uk and updating your profile under ‘My Account’.

If we need to contact you, we’ll send all notices, information and statements to your last known address which shall be the address shown on ‘My Account’, unless we know that you have moved. We may send some notices via email, text message or phone instead.

If you get a new payment card, you should provide us with the updated details.

 

General

Sometimes we can’t meet our promises to you because of matters beyond our reasonable control. This would include a problem with a computer system, a third-party supplier (such as the postal service) or an industrial dispute. In these cases, we will not be responsible to you for the duration of the interruption.

Your Guarantee is personal to you and you may not transfer any of your rights and responsibilities under it. For business reasons, we may transfer our rights without your permission provided that we take reasonable steps to ensure that your rights and obligations will not be adversely affected as a result of the transfer.

There may be taxes or costs that you may need to pay in connection with a Guarantee, but we are not aware of any.

We may record or monitor phone calls.

 

What you should do if you have a complaint

We’re fully committed to dealing with all complaints, fully and fairly, and in a reasonable time. If you have a complaint about the guarantee or anything we’ve done, please let us know.

You can make a complaint on our website at www.symplifi.co.uk, or by writing to SimpliFi Financial Solutions Ltd, First Floor, Templeback, 10 Temple Back, Bristol BS1 6FL. 

If we are unable to resolve any dispute with you, you may use the online dispute resolution (ODR) platform available on the Your Europe portal. The ODR platform only relates to additional services we may agree to supply and is not applicable to your use of our website generally.

 

Preventing Fraud

When you apply to be a Guarantor, we undertake checks for the purposes of preventing fraud and money laundering, and to verify your identity. These checks require us to process personal data about you. Please refer to our Privacy Notice for further information.

If we, or a fraud prevention agency, determine that you pose a fraud or money laundering risk, we may refuse to provide the services you have requested or may stop providing existing services to you.

A record of any fraud or money laundering risk will be retained by the fraud prevention agencies, and may result in others refusing to provide services, financing or employment to you. If you have any questions about this, please contact us on the details above.

 

GC Partners Disclaimers and Terms of Business

By agreeing to these terms and conditions you also acknowledge that Global Currency Exchange Network Limited trading as GC Partners (a Company incorporated in England and Wales under Company number 04675786, having its registered office situated at 3rd Floor 100 New Bond Street, London, W1S 1SP, England and which is authorised and regulated by the United Kingdom’s Financial Conduct Authority under the Payment Services Regulations 2017 with registration number 504346) and/or Global Custodial Services Ltd trading as GC Partners (a Company incorporated in England and Wales under Company number 08321940, having its registered office situated at 3rd Floor 100 New Bond Street, London, W1S 1SP, England and which is authorised under the Financial Services and Markets Act 2000 with authorisation number 595875) (together GC Partners) have been formally engaged by Symplifi with respect to the following services (hereinafter referred to as the GC Partners Services):

  • Payment Services

  • Custodial Services

 

While GC Partners provides you with the GC Partners Services and your relationship is solely with Symplifi, by agreeing to these terms and conditions, you automatically acknowledge and agree (i) that you have no recourse to GC Partners; and (ii) to the disclaimers and terms of business of GC Partners as set out in the following link: www.gcpartners.co/gcs-disclaimer/.


Definitions

Account means the SympliFi account, created by a Guarantor.

Borrower means the person a Guarantor wishes to support and who will enter into the Borrower’s agreement.

Borrower’s Agreement means the loan agreement between the Lender and the Borrower, whether or not it incorporates the SympliFi Guarantee.

Guarantee means the performance bond incorporating an undertaking to pay a sum to SympliFi, on demand, as compensation for any payment it must make to a Lender under the SympliFi Guarantee.

Guarantor, you and your means the person using SympliFi and who agrees to provide a Guarantee to SympliFi in relation to any Borrower’s Agreement.

Lender means a financial institution, duly registered and regulated in its own country by the local regulatory body, that is willing to provide a loan to a Borrower with a SympliFi Guarantee.

SympliFi Guarantee means any guarantee, payment obligation or similar promise to pay, whether or not incorporated into the Borrower’s Agreement and whether as primary obligor or otherwise, given by SympliFi to a Lender in respect of a Borrower’s Agreement. 

We, us and our means Simplifi Financial Solutions Ltd (and anyone we transfer a Guarantee to).