Treating Customers Fairly (TCF) policy

Treating Customers Fairly (TCF) Policy

What is Fleetsauce Ltd Treating Customers Fairly (TCF) Policy?

We value our customers and treat them fairly by providing a professional service and sell them products that fit their needs. We have embedded treating customers fairly (TCF) principles within our business and our service. Fleetsauce Ltd believe TCF is more than just a policy, but it is about establishing a culture of fairness throughout the business. The TCS Policy sets out the responsibilities for the fair treatment of customers and demonstrate how the Company continually assesses how it treats customers fairly.

What do we do as a business to support TCF and ensure desired outcomes?

Fleetsauce Ltd ensure that the business and its staff are supporting TCF by;

·       Products and services we offer – We ensure that the products and services we offer are suitable for our current and potential customer. We monitor the industry for new products or services that we can offer that would complement our current services. Whilst offering information on what products/services we offer we will ensure that only those pertinent and affordable to the customer are explained.

·       Marketing and Promotions – We ensure that all marketing or financial promotions we create and/or distribute are clear, fair and not mis-leasing. We ensure this is adhered to by having a clear checklist for the Marketing team to follow on what should be included in any promotions, compliance team spot checking marketing materials and ensuring that all staff confirm details with the customer which may impact the decision or outcome.

·       Monitoring the end results – When a deal is completed customers are offered the opportunity to advise us on their journey with us. Customer Feedback is important is it a clear indication on what if anything needs improvement or amendment.

·       Management Information – Compliance MI’s are completed on a monthly basis and discussed amongst the board. This includes but is not limited to information on sales targets and achievement, complaints, cancellations and staff performance. During these meetings any amendments to our services, products or procedures will be determined.

What are Fleetsauce Ltd TCF commitments?

Fleetsauce Ltd ensure that all staff follow the below commitments to ensure TCF is managed:

1.      We explain key attributes of products and make sure that our documentation and advertising is clear, easy to understand and is not misleading

2.      We design our marketing campaigns and literature so that the key messages are clear, balanced, and useful for our target customer segments

3.      We regularly review our sales activities to ensure that we are selling products and services that meet the needs of our customers

4.      Where a customer complains about our service, we treat their complaint seriously and positively. Our responses are clear and easy to understand

5.      We use data to monitor to improve our customer service.

What are FCA Principles?

FCA has a number of principles which we must adhere to. Principle 6 is directly associated to TCF & Principle 12 is associated with the Consumer Duty which ensure a greater protection for consumers, however all the principles are designed to ensure a good outcome for consumers.

·       Principle 1: A firm must conduct its business with integrity;

·       Principle 6: A firm must pay due regard to the interests of its customers and treat them fairly

·       Principle 7: A firm must pay due regard to the information needs of its clients and

·       communicate information to them in a way that is clear, fair and not misleading;

·       Principle 8: A firm must manage conflicts of interest fairly, both between itself and

·       its customers and between a customer and another client;

·       Principle 9: A firm must take reasonable care to ensure the suitability of its advice

·       and discretionary decisions for any customer who is entitled to rely upon its

·       judgment.

·       Principe 12: A firm must act to deliver good outcomes for retail customers.

Cross Cutting Rules

Under the FCA Consumer Duty, Fleetsauce Ltd recognises the importance of the Cross Cutting Rules which underpin how firms should act to deliver good outcomes for retail customers. These rules apply across all areas of our business and customer interactions.

Fleetsauce Ltd is committed to ensuring that all staff understand and apply the following principles in their day-to-day activities:

1.               Act in good faith towards retail customers We act honestly, fairly and professionally in all dealings with customers. We ensure that our communications, advice and services are designed to support customers in making informed decisions and achieving suitable outcomes.

2.               Avoid causing foreseeable harm to retail customers We identify and assess potential risks to customers throughout the customer journey. We take reasonable steps to prevent foreseeable harm by ensuring products, services and processes are appropriate, transparent and regularly reviewed.

3.               Enable and support retail customers to pursue their financial objectives We provide customers with clear information and appropriate support so they can make effective, timely and properly informed decisions. We aim to ensure that customers understand the products and services available to them and receive support throughout the lifecycle of their agreement.

What is the Consumer Duty?

The Consumer Duty is a new set of standards introduced by the UK Financial Conduct Authority (FCA) to enhance consumer protection in financial services. It requires firms to act to deliver good outcomes for retail customers, putting their needs first. This includes providing helpful and accessible customer support, timely and understandable information, and making it easy to switch or cancel products. When the new set of standards was created Principle 12 was added to the FCA’s principles. The Consumer Duty's cross-cutting rules are three core principles that firms must follow to ensure they are delivering good outcomes for retail customers and they act as a behavioural lens through which all other Consumer Duty requirements should be interpreted and applied.

The Consumer Duty's cross-cutting rules are

·       Firms must act in good faith

·       Firms must aim to avoid causing foreseeable harm

·       Firms must enable and support customers to pursue their financial objectives.

What is Fleetsauce Ltd desired outcome?

The FCA has defined the following TCF outcomes as critical for the fair treatment of customer:

1.      Consumers can be confident that they are dealing with Fleetsauce Ltd and are treated fairly

2.      Products marketed are designed to meet the needs of our customers

3.      Customers are provided with clear information and kept appropriately informed before, during and after the point of sale

4.      Customers are satisfied that advice received is suitable and takes account of their circumstances

5.      Customers are satisfied with the products (financial packages) that perform as Fleetsauce have led them to expect

6.      Customers should not face unreasonable post-sale changes to our product

7.      Customers receive communications they can understand

8.      Customers receive products and services that are suitable for their needs and offer a fair value

9.      Customer are supported through the lifetime of the product/contract

Why Choose Fleetsauce?

At Fleetsauce, we specialise in helping SMEs find the right car leasing solutions — not just the cheapest leasing deal.

With access to a wide range of leasing funders and hundreds of franchised dealerships across the UK, we find the best leasing deals and vehicle availability for your business and employees.

You’ll work directly with an expert dedicated account manager who understands the needs of companies — offering expert advice with a friendly, professional approach that you can always call directly.

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Whether you're managing one vehicle or a fleet, we make business leasing simple, flexible, and cost-effective.