The Business Finance Code
This Business Finance Code sets out the standards that FLA members will meet when providing asset finance to businesses and the public sector.
The FLA Business Finance Code
- FLA members will abide by the Code and all relevant laws and regulations, will trade fairly and responsibly with customers, and will promote responsible trading between intermediaries and customers.
- Before a business finance agreement is contracted, FLA members will provide customers with appropriate information.
- FLA members will make business finance agreements that are clear and fair.
- FLA Members will provide effective customer service.
- FLA Members will clearly explain the options available to customers at the expiry or termination of business finance agreements.
- Members will operate appropriate complaints procedures.
Detailed guidance on how FLA members will abide by the Code is available on this page.
Compliance with the Code is a condition of FLA membership. Members’ compliance with the Code is governed by the FLA’s Business Code Group. In the event of continued or repeated non-compliance, the FLA will take action, including a warning or expulsion from FLA membership. The FLA operates a conciliation procedure for customer complaints that cannot be resolved by members, and also offers an independent mediation scheme. Details are available from Megan Charles at the FLA.
