Terms & Conditions
1.1 Terms and abbreviations
1.1.1 “you” and the “Company” refers to the company named above and any other “associated” companies or entities within the meaning defined by current company legislation.
1.1.2 “date of this agreement” is as dated at the end of this agreement.
1.1.3 “funds” or “funding” is funds in any form from any source, including equity, debt (all forms including commercial lending, asset/trade finance and overdrafts), mezzanine, convertible debt and grants. Where funds are as a facility, e.g. an overdraft or provision, then fees are based upon the maximum amount of the facility.
1.1.4 “FFFP” refers to Fast Forward Funding Programme.
1.1.5 “A2F” refers to Access to Finance Ltd
1.1.6 “FFG” refers to Fast Forward Growth Limited
1.2 Scope of work
1.2.1 The scope of work is specific to the Fast Forward Funding Programme.
2 Programme Fees
2.1 Phase 1: Entry & Cost
2.1.1 This is the course entrance fee and includes two full training days and an optional third day for investment presentation purposes, which is at the discretion of the attending business and subject to the applicant completing the FFFP to the required standard as stipulated by the Programme
2.1.1a Applicants who proceed to funding sources will be administered by A2F, FFG or the appointed representative
2.1.2 The cost of the Fast Forward Funding Programme is £895 plus VAT, payable to Access to Finance Limited, which is due for payment 14 calendar days before the selected commencement date.
2.13 The course fee includes the venue, course material, refreshments, online reference library and one to one professional support limited to 3 hours for the duration of the programme. On completion of day 3, the delivery team will supply ongoing support (telephone calls, emails, letters or meetings) up to a maximum of 8 hours after which such support will be chargeable at an agreed rate.
2.2 Phase 2: Raising finance
2.2.1 Success fees. Where A2F or FFG help you conclude funding for your business, you should be aware that several investment networks used charge a success fee of between 3% and 6%. When the business is financed through other selected funders, A2F will charge a success fee of 3% of the amounts raised, these fees being used to support the FFFP running costs and the Fast Forward Growth fund held by Access to Finance Limited (fees are subject to VAT).
2.2.2 Payment terms. Success fees for equity investments are payable on the drawdown of funds from the investor (whether drawdown is partial or complete) and are to be distributed by the solicitor on completion of the deal.
3 Other Services and Fees
3.1 Post-Investment Monitoring
3.1.1 FFFP has a range of Ambassadors, (specialist business advisors) which can be used on a commercial basis by successful FFFP applicants
3.2 Placement Service
3.2.1 Non-Exec and Advisors; Where A2F or FFG introduce you to a Chairman, Director, Consultant, Advisor, Senior Executive or any other appointment (whether executive or non-executive), who you decide to appoint to your company or any associated company, A2F will request a discretionary contribution towards the scholarship fund payable for the provision of the service.
4 General terms
4.1 Detail on Fees
4.1.1 Late payment of fees. Please be advised that in addition to a principal sum outstanding, we are also entitled to charge statutory interest under the Late Payment of Commercial Debts [Interest] Act 1998 as amended and supplemented by the Late Payment of Commercial Debts Regulations 2002, calculated at 8% over the Bank of England base rate for the overdue period, and continuing at the same rate up to the date of judgment or earlier payment at the calculated daily interest rate. Furthermore, A2F or FFG will also claim compensation arising from the late payment under section 5A of the Late Payment of Commercial Debts (Interest) Act 1998, which amounts to a further £70.
4.1.2 As soon as it seems likely that you might secure funding from your own sources, you will notify us in writing of the names and addresses of the potential investors that you are in direct negotiations with, and furthermore you will have received acknowledgement back from us that we agree to forgo our success fees chargeable on investments made by these investors.
4.2.1 Once investment ready, you grant A2F permission to promote your investment opportunity in marketing material, including but not exclusively, FFG website, FFG Investor Bulletins and other communications to potential investors
4.2.2 For marketing your investment opportunity, you will permit A2F or FFG to post on our public website a short summary of your investment opportunity. This summary will have been approved by you. You will be aware that the public website will be available to non-registered investors.
4.2.3 In the event of successfully raising finance for your business, you will permit A2F or FFG to use for marketing purposes summary information relating to the deal. Summary information shall include the name of your company, the sector, the location and the amount raised.
4.3 Termination of this Agreement
4.3.1 A2F and FFG reserve the right to terminate this agreement by immediate notice if, at any time, material facts are uncovered concerning you or your business that leads us to believe that we cannot continue looking to raise finance for you. If this occurs, A2Fand FFG may provide the details of the possible sources of finance, but will no longer act to support your proposition. A2F or FFG shall be entitled to charge for work undertaken up to the date of termination. Our success fees will still apply in respect of any funds raised from sources introduced by A2F or FFG.
4.4.1 In the course of our work we realise it will be necessary for you to inform A2F and FFG of confidential details concerning your business. A2F and FFG will use reasonable endeavours to keep strictly confidential any information relating to the nature of your business that we acquire during the course of our discussions.
4.5.1 Both Access to Finance Ltd and Fast Forward Growth Limited will respect your personal information. Once investment ready and before fund raising efforts are commenced, you will permit us to undertake a credit check on the directors of the business with more than a 15% equity holding for the purposes of due diligence. This may be recorded as a credit enquiry against your personal credit profile
4.5.2 Notwithstanding the above, you authorise us on your behalf to provide details of your Company to possible sources of funding to the extent necessary for us to provide the services agreed with you.
4.5.3 A2F and FFG will not share, copy or distribute any personal or business contact details with any third party without your prior consent.
4.5.4 Aside from the occasions mentioned above A2F and FFG will not share, copy or distribute any personal or business contact details with any third party without your prior consent.
4.6 Further work
4.6.1 Any further work outside of this agreement will be agreed with you beforehand, and subject to a separate agreement.
4.7.1 In making recommendations, we will have relied upon information disclosed by the management and staff of your business. Accordingly, FFG and A2F cannot be held liable for information based on that information where it is inaccurate or incomplete.
4.7.2 FFG and A2F shall not be liable for any damages or liabilities, arising from errors in our negotiations with you or with third parties. In no circumstances shall FFG or A2F be liable for any indirect or consequential loss and/or loss of profit for whatever reason. In particular, FFG and A2F are not responsible for due diligence nor the preparation of legal documents, nor for your negotiations with third party sources of funding and do not approve or suggest terms. A2F and FFG also make no representation that they will be successful in introducing funding. All fees are non-refundable.
4.7.3 Nothing in this engagement shall limit FFG or A2F’s liability for fraud or any other matter which cannot by law be limited without rendering this agreement void or voidable.
4.8.1 You and/or the Company (as appropriate) hereby indemnify A2Fand FFG on a pound for pound basis against the loss of fees which would have been payable to A2F or FFG but for the fact that sums raised through introductions made by A2F or FFG, were paid to an associated or third party (“Receiving Party”) instead of to you.
4.8.2 Further you agree to procure that in the event that the investment raised as a result of introductions made by us that such Receiving Party pays to us the success fee that would have been payable to us by you under the terms of this agreement.
4.9.1 This agreement is subject to the laws of England and Wales and the exclusive jurisdiction of the English Courts;
4.9.2 This agreement is not capable of being assigned by you without our written consent
5.01 A copy of these terms and conditions will require to be signed for applicants that are authorised and wish to proceed to be introduced to the funding partners