Initial Disclosure Document - Insurance

The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.

Whose products do we offer?

We only offer products from a limited number of insurers for;

GAP – Premia Solutions

BL Autosource LLP is appointed to act as the agent of the insurers and not as your agent, when offering or recommending the above products and where we collect any premium or handle premium refunds, we do so as the agent of the insurer

We act as a credit broker, not as a lender, for the introduction to a limited number of finance providers only for; Our panel of Lenders, who may be able to finance your purchase are;

We act as their agent for this introduction and not as your agent. We are not an independent financial advisor; we will provide details of products available. We may advise you on the products, subject to your personal circumstances, though you are not obliged to take our advice or recommendation.

You are under no obligation to make use of any financial product arranged by BL Autosource LLP, or to purchase any insurance product from us. Other providers may offer similar finance or insurance products that may or may not meet your needs.

Which service will we provide you with?

We will advise and make a recommendation for you after we have assessed your needs for;

Guaranteed Asset Protection (GAP) & Return to Invoice Insurance

We will review suitable Insurance products for you after we have assessed your needs for;

You are not obliged to agree with our recommendations or to make any purchase of an insurance product. You may obtain free, unbiased guidance from the Money Advice Service at www.moneyadviceservice.org.uk or Your Impartial Guide to Car Finance at www.financingyourcar.org.uk.

What will you have to pay us for this service?

We arrange the policy with the insurer on your behalf. You do not pay us a fee for doing this. We may receive a revenue from the sale of the product, which is based on the margin between the selling price, net of Insurance Premium Tax, and the cost price to us.

Commission Arrangements

We will be paid a commission for introducing you to the Insurer. This will be a flat fee amount. This means the commission will be the same no matter each policy sold.

Who regulates us?

Global Vans is a trading name of BL Autosource LLP 497010 and are an appointed representative of Autoease Vehicle management Ltd who is authorised and regulated by the Financial Conduct Authority Firm ref no. 689175

You can check this on the Financial Services Register by visiting the FCA’s website or by contacting the FCA on 0300 500 8082.

.BL Autosource LLP is authorised and regulated by the Financial Conduct Authority. BL Autosource LLP FCA Reference Number is 497010. BL Autosource LLP permitted business is to act as a Credit Broker for introduction to finance providers, acting on behalf of the lender.

You can check this on the Consumer Credit Register by visiting the FCA’s website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.

What to do if you have a complaint

If you wish to register a complaint, please contact us;

… In writing Global Vans, County Gates, Ashton Road, Bristol, BS3 2JH

… by phone Telephone 0117 962 5314

… by e-mail [email protected]

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising, and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim without any upper limit
Further information about the compensation scheme arrangements are available from the FSCS.

Please note – finance products are not covered by this scheme.

The Data Protection Act

BL Autosource LLP is also governed by the Data Protection Act (2018). This ensures any information you give us managed in a secure and confidential manner. This information may be passed to other groups or affiliated members including those company(s) detailed in Section 2 above. Without this information BL Autosource LLP is unable to process your order or enquiry. Under the Data Protection act you may have this information restricted or removed by telling BL Autosource LLP via phone on 01179 625314 ext 125 or in writing to BL Autosource LLP County Gates, Ashton Road, Bristol, BS3 2JH