Terms of Business
By asking us to quote for, apply or arrange Broker Services you acknowledge and accept to the following terms, and the terms of any Engagement Letter provided to you, which shall apply from the Effective Date to all future Engagements of Bear Business Finance Limited, until and unless terminated in accordance with clause 5, or updated or amended in accordance with clause 11.5.
“We”, “us”, “our” and “Bear Business Finance” are references to Bear Business Finance Limited of 41 Commerce Road, Lynch Wood, Peterborough, Cambridgeshire, PE2 6LR, registered in England and Wales under company number 10614202. “You”, “your” and the “Client” refer to the company engaging with us to provide Broker Services.
1. INTERPRETATION
1.1 Definitions:
- Agreement: these Terms of Business and the terms of any Engagement Letter provided to you by us.
- Affiliate: in relation to a party, any entity that directly or indirectly controls, is controlled by, or is under common control with that party from time to time.
- Applicable Laws: all applicable laws, statutes, regulations and codes, from time to time in force.
- Broker Services: the sourcing of potential business funding solutions for you, including the completing an application for business funding based upon the information given to us by you, and administering and facilitating the completion of a Finance Agreement between you and your selected lender(s).
- Business Day: a day other than a Saturday, Sunday or public holiday in England, when banks in London are open for business.
- Confidential Information: all information that one party discloses or makes available to the other party (“recipient”) in connection with this Agreement and/or the Broker Services and which would be regarded as confidential by a reasonable business person. It does not include information that is available to the public through no fault of the recipient, or was, is or becomes available to the recipient on a non-confidential basis from a person who, to the recipient's knowledge, is under no confidentiality obligation with respect to that information.
- Control: has the meaning given in section 1124 of the Corporation Tax Act 2010, and controls and controlled shall be interpreted accordingly.
- Client Materials: all documents, information, software, items and materials (whether owned by the Client or a third party), which are provided by the Client to the Bear Business Finance in connection with the Broker Services.
- Effective Date: the date Client accepts these Terms of Business.
- Engagement: each separate request from Client to Bear Business Finance to provide Broker Services for a particular finance need.
- Finance Agreement: a written agreement between you and a lender for the provision of business finance for your business, which sets out the terms upon which you borrow funds and/or lease assets.
- Intellectual Property Rights: patents, rights to inventions, copyright and related rights, moral rights, trade marks, business names and domain names, rights in get-up, goodwill and the right to sue for passing off, rights in designs, rights, rights to use, and protect the confidentiality of, confidential information (including know-how and trade secrets) and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted renewals or extensions of, and rights to claim priority from, those rights and all similar or equivalent rights or forms of protection which subsist or will subsist now or in the future in any part of the world.
- Losses: all liabilities, damages, losses (including loss of profits, loss of business, loss of reputation, loss of savings and loss of opportunity), fines, expenses and costs (including all interest, penalties, legal costs and reasonable professional costs and expenses).
1.2 Interpretation: A person or an individual includes a natural person, corporate or unincorporated body (whether or not having separate legal personality). Any words following the terms including, include, in particular, for example or any similar expression shall be interpreted as illustrative and shall not limit the sense of the words preceding those terms. A reference to writing or written excludes fax but not email.
2. THE BROKER SERVICES
2.1 In supplying the Broker Services, Bear Business Finance shall act with reasonable care and skill and comply with all Applicable Laws.
2.2 The parties acknowledge and agree that Bear Business Finance acts solely as an independent intermediary in connection with the Broker Services and does not act on a disinterested basis nor as a fiduciary, trustee, financial adviser or in any other capacity giving rise to fiduciary obligations to the Client.
2.3 The Client acknowledges that we have our own commercial interest when performing Broker Services and therefore we cannot offer impartial advice on the finance offers received by you.
2.4
Bear Business Finance has no obligation whatsoever to accept instructions from you and reserves the right at any time to cease providing Broker Services. Furthermore, in providing the Broker Services, we cannot be compelled to make an application to any lender on your behalf, or continue acting on your behalf.
2.5 We are not regulated by the Financial Conduct Authority. We only provide Broker Services to incorporated businesses and will reject any instructions from individuals or non-incorporated businesses.
2.6
If you have been introduced to us by a third party, we may pay commission to that third party for the introduction once you have agreed to and activated the Finance Agreement. Any commission paid to an introducer is taken from the commission we receive from the lender.
2.7 In the event that we charge an additional broking fee or administration fee to you, in accordance with the terms of the Engagement Letter, such fee will be invoiced to you after completion of the Finance Agreement and will be payable by you within 7 days. If you fail to pay the invoice on time, you shall pay interest on the overdue sum from the due date until payment of the overdue sum and all of our legal and administration costs, whether before or after judgment. Interest under this clause will accrue each day at the rate of 8% per year above the Bank of England's base rate, as amended from time to time.
2.8
We shall not be responsible for verifying the accuracy or completeness of any information that you provide and we shall be entitled to rely on that information.
2.9 We will act honestly, fairly and professionally when conducting business with our clients. Occasions can arise when we, or one of our other clients, will have some form of business interest in the business that we are transacting for you. If this happens, or it becomes apparent that our interests conflict with your interests, you will be informed.
2.10 In providing the Broker Services, the parties agree that time is not of the essence. We take no responsibility for delays or omissions in obtaining finance quotes and/or completion of finance agreements and will not be liable for any related costs or losses whatsoever.
2.11
Where a lender rejects your application, withdraws an offer or changes the terms of an offer, the lender may not provide us with an explanation as to why they have taking such action. Accordingly, we are not obliged to provide feedback to you, but will endeavour to do so, where possible.
2.12 We may share your data (including personal data) and information with Bear Finance Group Holdings Ltd and its subsidiary companies (including Bear Commercial Capital Ltd and Bear Leasing Limited).
3. YOUR OBLIGATIONS
3.1 You shall at all times:
(a) provide complete, accurate and truthful information;
(b) disclose any adverse financial information relevant to the application;
(c) notify us immediately of any material changes and ensure all information supplied to lenders remains accurate;
(d) comply with all Applicable Laws;
(e) provide information and documents promptly when requested (in a format which is easily accessible and processable);
(f) adhere to any timescales and deadlines set by us or our lenders;
(g) co-operate with us, and the lender panel, in all matters relating to the Broker Services and ensure that your other advisors (e.g. legal, accountancy and tax advisors) co-operate with us where reasonably necessary;
(h) provide us with any such evidence and information about your identity and that of any individuals connected with your business as we may reasonably require, including to comply with our obligations under anti-money laundering legislation;
(i) comply with clause 7.3 in respect of the provision of personal data, and shall not share any personal data with us without first obtaining all appropriate permissions and consents from all individuals to whom the data relates for all of the data processing uses described in the Engagement Letter, these Terms of Business and our Privacy Policy;
(j) retain your own back-up copy of all data, information, documents, files and other materials provided to us;
(k) take all reasonable steps to ensure that any documents, files, data, software, or other materials provided or made available to us are free from viruses, malware, ransomware, malicious code, and any other cybersecurity threats or vulnerabilities that could adversely affect our systems, networks, or data; and
(l) use up-to-date and appropriate security measures, including antivirus and malware scanning, before transmitting any documents, files, data, software, or other materials to us.
3.2 You acknowledge that lenders will rely upon information supplied during the application process. Providing false or misleading information may constitute fraud and may result in refusal of finance, withdrawal of facilities, legal action and/or criminal investigation.
3.3 You shall advise any individual(s) proposing to act as a guarantor for your business finance to seek independent legal advice prior to entering into any guarantee.
4.
WEBSITE USAGE TERMS
4.1
The materials appearing on our website could include technical, typographical, photographic or other errors. We do not warrant the materials on our website are accurate, complete or up-to-date. We may make changes to the materials contained on our website at any time without notice.
4.2
We have not reviewed all of the sites linked to our website and are not responsible for the contents of any such linked site. The inclusion of any link does not imply endorsement by us of the site. Use of any such linked website is at the user’s own risk.
4.3
Bear Business Finance may revise these terms of service for its website at any time without notice. By using our website you are agreeing to be bound by the then current version of these Terms of Business.
4.4 All intellectual property rights in our website, branding, logos, trade names, software, systems, templates, documents, methodologies, reports, marketing materials, databases, content, graphics, text and other materials made available by Bear Business Finance ("Our Materials") are owned by or licensed to Bear Business Finance and are protected by copyright, trademark and other intellectual property laws. Our Materials may not be copied, reproduced, modified, distributed, published, transmitted, reverse engineered or exploited without our explicit prior written consent.
5. TERM AND TERMINATION
5.1 Either party may terminate this agreement by providing at least 30 days’ written notice to the other party.
5.2
Either party may terminate this agreement with immediate effect by notifying the other party if:
(a) the other party commits a material breach of any term of this Agreement which (i) is not capable of remedy; or (ii) if capable of remedy, is not remedied within a period of 30 days by the other party after being notified to do so;
(b)
the other party takes or has taken against it (other than in relation to a solvent restructuring) any step or action towards its entering bankruptcy, administration, provisional liquidation or any composition or arrangement with its creditors, applying to court for or obtaining a moratorium under Part A1 of the Insolvency Act 1986, being wound up (whether voluntarily or by order of the court), being struck off the register of companies, having a receiver appointed to any of its assets or its entering a procedure in any jurisdiction with a similar effect to a procedure listed in this
clause 5.2(b);
(c)
the other party suspends or ceases, or threatens to suspend or cease, carrying on all or a substantial part of its business; or
(d)
the other party's financial position deteriorates so far as to reasonably justify the opinion that its ability to give effect to the terms of the agreement is in jeopardy.
5.3
We may terminate this Agreement with immediate effect if we consider that you, your personnel, your business dealings and/or business associates could cause any damage, or a risk of damage, to our business reputation and/or brand.
5.4 Any provision of the Agreement that expressly or by implication is intended to come into or continue in force on or after termination of the Agreement shall remain in full force and effect.
6. COMPLAINTS
6.1 Our aim is always to provide you with the best possible service, but we recognise that sometimes things go wrong, or we may fall short of your expectations. If you are unhappy with our services and want to make a complaint, you can do this in writing (by post or email) or call us.
Postal: 41 Commerce Road, Lynch Wood, Peterborough, Cambridgeshire, PE2 6LR.
Email: complaints@bearbusinessfinance.com
Telephone: 01832 770273
6.2 We will acknowledge your complaint and investigate it. We aim to provide a final response within eight weeks of receiving the complaint. If this is not possible, we will explain the reason for the delay and when we expect to provide our response.
6.3 Where a complaint relates wholly or partly to the actions or decisions of a lender or other third party, we may refer the relevant part of the complaint to that party for consideration or we may ask you to raise the matter directly with them. We will, where appropriate, assist with the referral or provide relevant information.
6.4 Bear Business Finance Ltd is not authorised by the Financial Conduct Authority.
6.5 If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service for an independent assessment. The Financial Ombudsman Service Consumer Helpline is on 0800 023 4567 or email complaint.info@financial-ombudsman.org.uk Their address is: Financial Ombudsman Service, Exchange Tower, London E14 9SR. Their website is at: https://www.financial-ombudsman.org.uk/
7. DATA PROTECTION
7.1 We shall process your personal data responsibly, fairly and in strict accordance with the UK General Data Protection Regulation. Our
Privacy Policy
explains how we process personal data during the performance of the Broker Services. In particular, please note how we, and our lenders, may perform both hard and soft credit searches upon individuals connected to your business.
7.2 In providing Broker Services, we will share the personal data of you and other individuals connected to your business with lenders, partners and other third parties, as we consider appropriate. Lenders are independent data controllers who will be processing your personal data in accordance with their own privacy policy. You can ask them for a copy.
7.3 Prior to sharing personal data with us, you shall obtain all appropriate permissions and consents from all individuals to whom the personal data relates, for sharing with both us and the lenders.
8. INTELLECTUAL PROPERTY
8.1 Each party shall retain ownership of all Intellectual Property Rights owned or developed by that party prior to, or independently of, the provision of our Broker Services. Nothing in these Terms transfers ownership of either party's Intellectual Property Rights to the other.
8.2 You retain ownership of all Client Materials owned by you. You grant us a non-exclusive, royalty-free licence to use the Client Materials solely for the purposes of providing our Broker Services, submitting applications to finance providers, complying with legal or regulatory obligations and operating our business.
8.3 Unless expressly agreed otherwise in writing, all reports, funding assessments, lender comparisons, funding recommendations, financial models, application summaries, presentations, documents, analyses, templates, correspondence and other work product prepared by us in the course of providing the Broker Services ("Service Outputs") shall remain our intellectual property.
8.4 Any suggestions, comments or feedback you provide regarding our services may be used by us without restriction or obligation to you, provided that such use does not disclose your Confidential Information.
9. LIMITATION OF LIABILITY
9.1 Nothing in this Agreement limits or excludes liability for death or personal injury, fraud or fraudulent misrepresentation and any liability that cannot legally be limited.
9.2 Subject to clause 9.1, we shall not have any liability to you whatsoever for loss of profits (including loss of anticipated savings), loss of business or business opportunity; loss of or damage to goodwill; or indirect or consequential loss.
9.3 We accept no liability whatsoever for:
(a) any losses arising from the supply by you or others of incorrect or incomplete information, or yours or others failure to supply any appropriate information or your failure to act on our advice or respond promptly to communications from us;
(b) any action, or inaction, of the lenders we introduce you to (including lenders withdrawing offers or changing the terms of an offer);
(c) you failing to take adequate time and/or care in reviewing the documentation (including this Agreement and any Finance Agreement);
(d) any delay in applications, approvals of finance or commencement of finance howsoever caused;
(e) any delay or inaction by you or us in adhering to the timeframes set by lenders;
(f) any detrimental information that may come to light following credit reference or other searches undertaken by us or our lender panel which results in any application being declined or otherwise impacts the application or any offer; or
(g) any failure or delay in presenting lender offers or lender feedback to you.
9.4 Subject to clauses 9.1, 9.2 and 9.3, our total liability shall not exceed 50% of the commission received by us from the specific lender for the part of the Engagement relating to the specific incident giving rise to the liability.
9.6 To the extent permitted by law, you agree that any legal claims must be brought only against Bear Business Finance as a company. You waive the right to bring personal claims or lawsuits against our directors, members, officers, shareholders, employees, consultants or other personnel
9.7 Subject to clause 9.1, all conditions, warranties, representations or other terms that might otherwise be implied into this Agreement by statute, common law or otherwise are excluded from this Agreement.
10. ANTI-BRIBERY
10.1 Both parties agree to comply fully with the requirements of the Bribery Act 2010, and will not engage in any of the following activity:
(a) promising or giving of an advantage, financial or otherwise, to another person to bring about an improper performance or to reward such improper performance;
(b) requesting, agreeing to receive, or accepting of an advantage, financial or otherwise to act improperly; or
(c) bribing a foreign public official to do or reward them for doing, something improper.
11. GENERAL
11.1 Force majeure
Neither party shall be liable for any delay or failure in performing any of its obligations for so long as and to the extent that the delay or failure results from events, circumstances or causes beyond its reasonable control.
11.2 Assignment and other dealings
We may at any time assign, novate, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any or all of our rights and obligations under this Agreement. You may not assign, novate, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any or all of your rights and obligations under this Agreement, without obtaining our prior written permission.
11.3
Confidentiality
(a) Each party undertakes that it shall not at any time during the term of the Agreement and for a period of 10 years each engagement disclose to any person any Confidential Information of the other party, except as permitted by
clause 11.3(b).
(b) Each party may disclose the other party's Confidential Information:
(i) to those of its and its Affiliates' employees, officers, representatives, contractors, subcontractors or advisers who need to know that information for the purposes of exercising its rights or carrying out its obligations under the Agreement (“Representatives”). Each party shall ensure that its Representatives are bound by, and comply, with confidentiality obligations which are substantially equivalent to those set out in this
Error! Bookmark not defined.11.3; and
(ii) as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.
(c) Neither party may use the other party's Confidential Information for any purpose other than to exercise its rights and perform its obligations under this Agreement.
11.4 Entire agreement
The Agreement constitutes the entire agreement between the parties and supersedes all previous agreements and understandings between them, whether written or oral, relating to its subject matter. Each party acknowledges that in entering into this Agreement it does not rely on and shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement. Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.
11.5 Variation
No variation of these terms of this Agreement shall be effective unless it is in writing and signed by the parties (or their authorised representatives). We may amend these terms of this Agreement from time to time by sending you revised Terms of Business or updating the Terms of Business on our website, in which case the updated terms shall apply to your next Engagement of us.
11.6 Waiver
A waiver of any right or remedy is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy. A delay or failure to exercise, or the single or partial exercise of, any right or remedy does not waive that or any other right or remedy, nor does it prevent or restrict the further exercise of that or any other right or remedy.
11.7 Severance
If any provision or part-provision of this Agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of the Agreement.
11.8 Notices
Any notice given to a party under or in connection with the Agreement shall be in writing and shall be:
(a) delivered by hand or by pre-paid first-class post or other next working day delivery service to its registered company address (or usual place of business);
(b) sent by email to Bear Business Finance at operations@bearbusinessfinance.com or to you at any email address provided to us by the business contacts liaising with us; or
(c) sent to any other address as it may have notified to the other party in accordance with this clause 11.8
Any notice shall be deemed to have been received:
(d) if delivered by hand, at the time the notice is left at the proper address;
(e) if sent by pre-paid first-class post or other next working day delivery service, at 9.00 am on the second Business Day after posting; or
(f) if sent by email, at the time of transmission, or, if this time falls outside business hours in the place of receipt, when business hours resume. In this clause 11.8(f), business hours means 9.00am to 5.00pm Monday to Friday on a day that is not a public holiday in the place of receipt.
11.9 Third party rights
11.10 Governing law and jurisdiction
The Agreement, and any dispute or claim arising out of or in connection with it, shall be governed by and construed in accordance with the law of England and Wales. Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this Agreement or its subject matter or formation.
Version 2.0 | September 2026