This document explains the period of time in which you have to decide whether or not you wish to use Dynamic Vehicle Solutions’ brokerage service and our cancellation policy once this period of time has elapsed and we have commenced our brokerage service. Please note, this section specifically relates to cancelling Dynamic Vehicle Solutions’ brokerage service and does not relate to your cancellation rights with the finance provider, details of which will be provided in full in advance of entering into a formal lease agreement.
For regulated credit broking agreements that have been concluded without any face-to-face dealings (ie. over the phone, internet etc.) you have the right to cancel the contract without penalty and without giving any reason within 14 calendar days in accordance with the Distance Marketing Directive. This legal right applies equally to all personal customers, sole traders and partnerships with up to four partners. Finance agreements for Limited Companies, Limited Liability Partnerships (LLP) and Partnerships with more than four partners are unregulated so therefore these rights do not apply.
For regulated customers as described above, the 14 calendar day cancellation period for Dynamic Vehicle Solutions’ Brokerage Service begins from the day we confirm to you that we have received your Signed Vehicle Order form and proof (via signature) that you have read and accepted our Initial Disclosure Document. There is no cancellation period for unregulated customers as described above and any cancellation fees become applicable as soon as we confirm to you that we have received your Signed Vehicle Order form.
For regulated orders cancelled after 14 calendar days have elapsed, or unregulated orders cancelled after we confirm to you that we have received your Signed Vehicle Order form, the following cancellation fees will apply;
- If you cancel your order before you sign your Contract Hire or Personal Contract Hire agreement, a cancellation fee of £200 inc VAT will be retained by Dynamic Vehicle Solutions to cover all costs and expenses incurred in arranging the credit hire agreement up to that point. This fee will be deducted from the £216 inc VAT processing fee (otherwise known as the brokerage fee) paid by the customer at point of order.
- If you cancel your credit hire agreement after you have signed your Contract Hire or Personal Contract Hire agreement, Dynamic Vehicle Solutions will retain the full processing fee of £216 inc VAT (otherwise known as the brokerage fee) to cover all costs and expenses incurred in arranging the credit hire agreement.
Exercising Your Right To Cancel
If you wish to exercise your right to cancel, you must notify Dynamic Vehicle Solutions of your decision to cancel the contract by a clear statement in writing by post or via email to;
Dynamic Vehicle Solutions Ltd
Turners Hill Road
You must include details of your full name, address and details of the order you wish to cancel. Please note, by exercising your right to cancel, you are withdrawing from the brokerage contract and the contract is terminated. For consumers entitled to a refund of the processing fee, either in part or in full, refunds will be issued within 14 working days from the day on which Dynamic Vehicle Solutions receives the notification of cancellation. If you have any further questions about our cancellation policy, please call us on 01342 710400