The FLA Business Finance Code sets out standards of good practice for the finance and leasing industry in the conduct of transactions with business customers. The Code covers companies, other corporate bodies or unincorporated businesses, local authorities or the National Health Service who seek credit or leasing facilities for the purposes of a trade, profession, or public service activity.
This Code sets out key commitments, and principles with which FLA members are expected to apply, with good sense and in the spirit of the Code.
In connection with the Code, the FLA operates a conciliation procedure for business complaints irrespective of the amount involved, and has an independent Mediation Scheme operated by the Chartered Institute of Arbitrators.
Compliance with the FLA Business Finance Code is monitored by the FLA Business Finance Code Group. The Group consists of a panel of independent representatives and a panel of industry practitioners - plus FLA representatives. The Group is Chaired by an independent Chairman, Professor Iwan Davies.
