Premium Financing. 11.1. RS Risk Solutions Limited acts as a credit broker and, in arranging premium finance, we are acting on behalf of and owe a duty to the premium finance provider. We work with Close Brothers Limited, trading as Close Brothers Premium Finance (‘Close’) to provide a premium finance facility to our insurance clients. A loan with Close is designed for the repayment of insurance-related premiums only. We will provide you with information about this payment option on a non-advised basis, i.e., we are not providing you with advice as to the choice of finance provider or the suitability of the premium finance product and you will need to make your own decision about whether to proceed. 11.2. If you do elect to finance your premium payments via Close, we will receive a payment in return for the work that it undertakes on behalf of the finance provider. Acceptance is subject to status and terms and conditions apply. Close may undertake an enquiry with a credit reference agency, such as, Experian when you make an application. The credit reference agency will add details of the search and the application to their record about you whether or not the application proceeds. Further details will be provided when an application for finance is made. Insurers own credit facilities may also be available if appropriate.
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Sources: Standard Terms of Business, Standard Terms of Business