Terms & Conditions of this Agreement
The Damart Personal Account lets you buy goods from the Damart or Sedagyl catalogues on credit, up to your credit limit. We set your credit limit based on your credit status and by assessing what you can afford, up to a maximum £500.
How your account works
Each month we send you a statement which details your total outstanding balance. You then have two choices:
- Pay the balance in full
- Pay in instalments
Entering a credit agreement with us
Choosing to pay in instalments requires you to enter into a regulated consumer credit agreement. The following sets out important information on what entering into a regulated consumer credit agreement means for you. Please read it carefully along with the other information we've given you to decide whether this credit account is suitable for you. Remember that if you pay in instalments, you will be charged interest which increases the overall cost of the goods that you buy.
The minimum payment
Each month we send you a statement which details your total outstanding balance. You must pay the minimum payment by the date specified on your statement. The minimum payment will be 1/25th of the value of the goods you have bought, or £3, whichever is greater. If your outstanding balance is less than £3, we will ask you to pay the balance in full.
How interest is calculated
Interest is applied to the balance outstanding from the previous statement at a daily rate of 0.0893 pence in the pound, equating to 32.6% per annum (variable), unless you pay the balance in full. Interest is calculated when the statement is produced and added to the balance, subject to a minimum charge of 50 pence per month. The sooner you pay off your balance, the less interest you will have to pay. For example, if you buy goods worth £75 and make the minimum payment every month you will repay twenty five monthly instalments totalling £102.93 and the total interest charged will be £27.93
If you do not pay the balance in full on each statement your purchase will cost you more; for example, if you buy goods worth £75 and make the minimum payment every month you will repay 25 monthly instalments totalling £102.93 and the total charge for credit will be £27.93.
##Introductory Interest Free:
When you open a Personal Account we will waive the first 3 months' interest charges, so you pay 0% interest on all your purchases for the first 3 months after you open your account with us. You must continue to make the minimum monthly payment as requested on your statement during the first 3 months or your introductory interest rate waiver may be withdrawn. As long as you pay in full by the end of the first 3 months, you will pay no interest.
At or before the end of the 3 month introductory period you can choose to pay in full, in which case you will pay no interest, or spread the cost over a longer period, in which case interest charges will apply from month 4 at our Standard rate of 37.7% APR Variable.
Offer only valid for selected new credit customers who apply and are accepted for a Personal Account by 31st May 2021. Existing Damart Personal Account balances cannot be transferred onto an Interest Free offer. Our Introductory Interest Free offer cannot be used in conjunction with any other credit offers.
Introductory Interest Rates
From time to time we may offer introductory interest rates to new customers by waiving our standard interest rates during the introductory period on your purchases. The introductory rate and introductory period (if applicable) will be set out in the offer. You must continue to make the minimum monthly payment as requested on your statement. Your introductory interest rate offer may be withdrawn if we don't receive at least the minimum monthly payment by the due date. The standard interest rate will apply from the end of the introductory period to any outstanding balance accrued during the introductory period and purchases made after that time unless any promotional interest rate applies.
Buy now pay later (BNPL)
BNPL may be offered as a payment option when you order items from us using your personal account, subject to there being no recent history of arrears on your account. BNPL allows you to defer the payment date for orders of £70 or more (including postage and packaging costs), for up to 3 months (the Delayed Payment Period) from the date your order is despatched (these are known as BNPL Transactions).
With BNPL Transactions, the cost of your order is charged to your Damart Personal Account when we despatch the order, and your credit limit adjusted accordingly. Interest at an annual rate of 32.6% (variable) will be calculated daily from the date your items are despatched and charged to your account on the balance of the BNPL Transaction outstanding as a lump sum at the end of the Delayed Payment Period. At the end of the Delayed Payment Period, the lump sum will attract further interest going forwards, meaning you will be charged interest on interest.
You will be sent a monthly statement showing your BNPL Transaction balance, the end of the Delayed Payment Period, and an estimate of interest to be charged at that date. Each BNPL Transaction will become payable [at the end of the third monthly statement following the despatch date]. If you make more than one BNPL Transaction within the same statement period, these BNPL Transactions will become payable on the same due date.
You will not pay interest on any element of the BNPL Transaction value you pay off before the end of the Delayed Payment Period. You will only be charged interest on the outstanding balance of the BNPL Transaction at the end of the Delayed Payment Period.
For example, if a BNPL Transaction is £150, with a delayed payment period of 3 months at a standard interest rate of 32.6% per annum:
- If you make a single payment of £150 during the Delayed Payment Period, no interest will be charged on the BNPL Transaction.
- If you make no payment towards the BNPL Transaction during the Delayed Payment Period, a lump sum of £12.05 interest will be charged to your account at the end of that period.
- If you make 3 payments of £20 during the Delayed Payment Period, a lump sum of £7.23 interest will be charged at the end of that period.
If you don't make a payment by the due date shown on your statement, or if you pay less than the minimum amount requested, we may make the following extra charges:
- an administration charge of up to £12 for missed or incomplete payments
- an administration charge of up to £6 for returned payments
- any reasonable costs and expenses we incur by having to involve third parties such as debt collection agencies, for example.
Your right to cancel
You have the right to withdraw from this credit agreement. Your right starts from the day after the agreement is made, or the date we confirm your credit limit, whichever is the latest – and continues for 14 days. If you want to cancel the agreement, please contact us using the details shown below.
Remember, you must repay any amount you still owe, plus the interest we have charged you.
Questions? Here's how to contact us
By phone: 0330 1234083
By email: email@example.com
By letter: Damart, Bowling Green Mills, Lime Street, Bingley, West Yorkshire, BD97 1AD.
Included in your first statement is a copy of the Pre-contract Credit Information and two copies of a Consumer Credit Agreement. You should consider this information carefully. If you decide that you want to enter into a regulated credit agreement with us please print, sign and return one copy of the agreement to Damart. Please keep the second copy for your own records.
Pre-contract Credit Information
|Creditor Address||Damartex UK Limited trading as "Damart" and "Sedagyl" Bowling Green Mills, Lime Street, Bingley, West Yorkshire, BD97 1AD.|
|Telephone number||For orders: 0871 423 0000 (calls cost 13p per minute plus your telephone company's network access charge). For queries about this information: 0330 1234083|
|The type of credit||Running Account Credit Agreement regulated by the Consumer Credit Act 1974.|
|The total amount of credit (This means the credit limit)||We will determine from time to time how much credit you may have under this agreement, and will notify you of that amount on a statement or other communication.|
|How and when credit would be provided||Credit will be provided in the form of a deferred payment terms for goods purchased from Damart from the date on which payment would otherwise fall due.|
|The duration of the credit agreement||The agreement has no fixed or minimum duration.|
|Repayments||Each month you must repay the minimum payment shown on your statement by the date shown. This is calculated as 1/25th of the total cash price of goods purchased on the account or £3.00, whichever is the greater. We re-calculate the minimum payment in the same way whenever you buy more goods or return goods. If your balance is less than £3 you must pay the outstanding balance.|
|Your repayments will pay off what you owe in the following order|| Any payments made under this agreement will be applied in paying off sums owing on the account in the following order: |
|The total amount you will have to pay (This means the amount you have borrowed plus interest and any costs)||The total amount payable is the sum of the amount borrowed plus the total charge for credit. The total charge for credit comprises interest only. Interest is applied to the total balance outstanding from the previous statement based on the daily interest rate of 0.0893 pence in the pound or 50 pence, whichever is the greater. Based on an example of taking credit of £500 (without BNPL) and paying the minimum repayments for the term, the total charge for credit is £180.87 and the total amount repayable is £680.80.|
|The rates of interest which apply to the credit||The rate of interest is equivalent to an annual rate of 32.6% (variable). Interest is applied to the total balance outstanding from the previous statement which is calculated when the statement is produced and added to the balance, subject to a minimum charge of 50 pence per month.|
|Annual Percentage Rate of Charge (APR). This is the total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers.||37.5% (variable). The assumptions underlying this calculation are that no BNPL option was exercised, a credit limit of £500 is drawn down immediately and in full and repaid over a one year period in equal monthly instalments commencing four weeks after the date of initial draw down along with interest as provided for in this agreement.|
|Charge for using a specific payment method||If you choose to make repayments to your Damart Personal Account at the Post Office their standard fees will be payable. Or if you choose to pay at a bank some banks may charge if you do not bank with them.|
|Costs in the case of late payments||We reserve the right to charge you (i) an administration charge of up to £12 in respect of each missed or incomplete payment due; (ii) an administration charge of up to £6 in respect of each returned payment; (iii) any reasonable expenses and costs that we may incur in the instruction or involvement of third parties for tracing you or debt collection. Interest will also be payable on any late payments at the interest rate shown above.|
|Consequences of missing payments||Missing payments could have severe consequences, including increasing the cost of your credit, impairing your credit rating which may make obtaining credit in the future more difficult and/or expensive for you.|
|Right of withdrawal||You have the right to withdraw from this credit agreement before the end of 14 days beginning on the day after the agreement is made, or if information is provided after the agreement is made, the day on which you receive a copy of the executed agreement under sections 61A or 63 of the Consumer Credit Act 1974, the day on which you receive the information required in section 61A(3) of that Act or the day on which you are notified of the credit limit, the first time it is provided, whichever is the latest.|
|Early repayment||You have the right to repay early in full or in part.|
|Consultation with a Credit Reference Agency||If we decide not to proceed with your credit application on the basis of information from a credit reference agency, when informing you of the decision we will inform you that it has been reached on the basis of information from a credit reference agency and the particulars of that agency.|
|Right to a draft credit agreement||You have the right to request a copy of the draft credit agreement free of charge.|
|The period of time during which the creditor is bound by the pre-contractual information||This information is valid for a period of 30 days from the day we send it to you.|
|(a) concerning the creditor|
|Registration number||Damart and Sedagyl are trading names of Damartex UK Limited which is a company registered in England and Wales (company number 00852773).|
|The supervisory authority||We are authorised and regulated by the Financial Conduct Authority of 12 Endeavour Square, London, E20 1JN to provide consumer credit. Firm Reference Number: 702607.|
|(b) concerning the credit agreement|
|The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit agreement||English law (or the law of Scotland or Northern Ireland if you reside there).|
|The law applicable to the credit agreement and/or the competent court||The laws of England and Wales govern this credit agreement unless you reside in Scotland or Northern Ireland in which case local law will apply and the local courts have jurisdiction.|
|Language to be used in connection with your agreement||The contractual terms and conditions and prior information are in English. The creditor undertakes with the debtor's agreement, to communicate with the debtor in English for the duration of the credit agreement.|
|(c) concerning redress|
|Access to out-of-court complaint and redress mechanism||If you have a complaint and feel that we haven't resolved it to your satisfaction, you may refer the matter to the Financial Ombudsman Service, for independent investigation after having first raised your complaint with us. If, after 8 weeks we have still not resolved your complaint, you have the right to complain to the Financial Ombudsman Service.|
Terms & Conditions of this Agreement
1.1 You accept these Terms and Conditions.
1.2 You have been provided with a full copy of this agreement for consideration before signing together with a copy of the Adequate Explanations and Pre-contract Credit Information.
1.3 You are over 18 years of age.
1.4 The details you have given are true and complete.
1.5 You will inform us as soon as possible of any change in your personal details such as name and home address.
1.6 Your signature to this agreement acknowledges receipt of a true copy.
1.7 All sums owed under the agreement shall become due and payable immediately if:
1.7.1 We believe you have provided us with any false information when you entered into this agreement.
1.7.2 A statutory demand is served on you, or any other steps are taken by you or any other person, to make you bankrupt.
1.7.3 You commit an act of bankruptcy (e.g. failing to pay a debt pursuant to a court order).
2.1 Once you have opened your Damart Personal Account and signed the credit agreement, you can use your account to order at any time and spread your payments for up to 25 months.
Here's how it works:
2.1.1 Complete your Order Form and tick the personal account box, or select the Personal Account option when you shop at www.damart.co.uk. If ordering by phone, call 0871 423 0000 and tell our orderline adviser it is a personal account order. Calls cost 13p per minute plus your telephone company's network access charge.
2.1.2 Full payment details are shown on every Damart or Sedagyl Order Form, including delivery charges.
2.1.3 We will provide a statement every month where there is any movement on the account, showing your orders, balances, payments, minimum payment required and payment due date.
2.1.4 You can choose to pay in full, or by regular monthly instalments. You can pay your account by direct debit, bank transfer, at the bank(some banks may charge if you do not bank with them) cheque, postal order and debit card. Alternatively, you can pay by cash at the Post Office (fee will be payable).
2.1.5 We reserve the right to vary the duration, interest charge and the minimum payment. We may do this if for example our costs, including the costs of borrowing, increase. Should this be necessary we will give you at least 28 days notice.
2.1.6 To calculate your approximate minimum repayment, simply divide the cash price of any item by 25, e.g. goods costing £75 could be paid for in 25 instalments of £3 plus service charges. If you repay more than the minimum payment the service charge will be reduced accordingly (written quotations are available on request).
2.1.7 If you place an order which exceeds your credit limit we may contact you to offer you an increase. We can change your credit limit at any time. We will notify you each time you are eligible for a credit limit increase. You can choose how you would like to manage future credit limit increases. You must choose between:
• 'AUTO INCREASE' - If you exceed your limit and we offer you a credit limit increase, this will be applied unless you reject it
• 'DO NOT AUTO INCREASE' - If you exceed your limit and we offer you a credit limit increase, this will not be applied unless you accept it
• 'DO NOT INCREASE' - If you exceed your limit we will not offer you a credit limit increase
3.1 Damart is committed to delivering the highest possible standards of service. If you have a complaint relating to the operation of your Damart Personal Account please do so by contacting us by any of the following methods:
• call us on 0330 123 5429
• email us at firstname.lastname@example.org
• visit our website www.damart.co.uk
• contacting us at the address as detailed in section 4.5 We will ensure that your issue is dealt with in line with our credit complaints policy.
3.2 We will:
3.2.1 Give your complaint immediate attention.
3.2.2 Aim to resolve complaints fully the first time you contact us. If we cannot do this, we will let you know why and keep you up to date with progress until it is fully resolved.
3.3 If you are not satisfied with our suggested resolution or if eight weeks have passed since you first brought your complaint to our attention, you have the right to refer your complaint to the Financial Ombudsman Service unless you are a business debtor, in which case you may have this right. If you want the Financial Ombudsman Service to look into your complaint, you must contact them within six months of the date of any final response issued by us. You can write to them at: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
3.4 Alternatively you can phone 0800 023 4567. Further helpful information can be obtained from visiting the Financial Ombudsman Service website at: www.financial-ombudsman.org.uk
3.5 In the event you have a complaint regarding a product or service purchased from Damart, please contact us at email@example.com. In the unlikely event that we are unable to resolve your complaint, and you are still not satisfied following the conclusion of our complaints handling procedure you may refer your complaint to The Retail Ombudsman which is a certified Alternative Dispute Resolution Provider. We will respond to any complaint referred to us by them. The Retail Ombudsman, 33 Floor Euston Road, London, NW1 3DP Email: firstname.lastname@example.org. Web: www.theretailombudsman.org.uk Tel: 0203 137 8268. Alternatively, if your complaint is regarding goods or services purchased from www.damart.co.uk and you are not satisfied with the resolution we have provided, the EU Online Dispute Resolution platform is available at www.ec.europa.eu/consumers/odr Please note following submission of your complaint on the EU platform you will be directed to The Retail Ombudsman. You may therefore refer your complaint directly to them.
or by contacting us using the details at 4.5 below), which explains how and why we acquire and use your personal information in accordance with the Data Protection Act 2018.
4.2 The personal information we collect about you is used by us to verify your identity, undertake credit assessments to inform our lending decisions, manage your account and to make collections. We may also use it to contact you in relation to this agreement (or for marketing purposes in accordance with your preferences) by post, email or telephone.
4.3 In considering whether to enter into this agreement, we may search your record at credit reference agencies and fraud prevention agencies. They will add to their records about you, details of our search and your application and this will be seen by other organisations that make searches. We may also disclose to credit reference agencies the details of your agreement, payments made and any default, suspicion of fraud or failure to maintain the terms of the agreement. More information about credit reference agencies and how they use personal information is available at https://www.equifax.co.uk/crain
4.4 We will disclose your personal data when legally required to do so, for example at the request of government authorities conducting an investigation. We will also use it to verify or enforce compliance with our policies, for example governing our web site and applicable laws or to protect against misuse or unauthorised use of our web site.
4.5 We may use your personal information in accordance with your marketing consent preferences to notify you of products and/or services, offered by ourselves or (only where you have previously provided your explicit consent by way of an 'opt-in') of named third parties whose products and services we believe you may be interested in. You may have already opted-out of receiving these marketing communications from us but if not you may do so at any time by clicking the unsubscribe link in the email, or by contacting us either by writing to The Data Protection Manager at Damart, Bowling Green Mills, Lime Street, Bingley, West Yorkshire BD97 1AD or or by emailing us at email@example.com
4.6 Your data remains on file for 6 years after your account is closed whether by you or in default.
5.1 We may transfer all or any of our rights under this agreement.
5.2 This agreement is governed by English Law (or the law of Scotland or Northen Ireland if you reside there). This agreement is in English and all communications regarding it shall be conducted in English.
5.3 Damart and Sedagyl are trading names of Damartex UK Limited which is authorised and regulated by the Financial Conduct Authority of12 Endeavour Square, London, E20 1JN to provide Consumer Credit under these names pursuant to register number 264768.
5.4 Damart is a responsible lender and will monitor your individual payment performance on an ongoing basis. If we consider that you are experiencing repayment problems such that it would be irresponsible to offer you further credit we may decline to do so.
5.5 We reserve the right to refuse or restrict credit orders.