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Panacea Finance

Where you select to pay the premium by instalments under a credit agreement that we arrange, the finance will be provided by Conister Trust Ltd, registered in the Isle of Man, registered address: Conister House, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man, IM2 2QZ, registration number: 00738C and administered by Panacea Finance Ltd, registered in England & Wales, registration number: 04307838, registered address: 21 St Thomas Street, Bristol, BS1 6JS. The interest rate charged on the credit equates to 14.75% (APR 35.8%).

Panacea Finance is a premium finance company who specialise in delivering innovative insurance premium finance solutions. Conister Trust Ltd has appointed Panacea Finance to administer the Direct Debit process on their behalf.

Direct Debit Process

The account details you give us will be passed to Panacea Finance Ltd to set up your Direct Debit agreement. Your deposit is paid to eGroup Insurance by credit or debit card and the remaining premium passed to Panacea Finance Ltd. There will be an interest rate of 14.75% added. Approximately 14 days from when you have paid your deposit, the first direct debit payment will be taken from your account followed by 9 further payments taken on a monthly basis, on the same date each month.

You will receive a welcome letter from Conister Trust Ltd containing a copy of their full terms and conditions and a schedule of your payments.

As the finance is provided by Conister Trust Ltd, all correspondence will be in their name, but Panacea Finance Ltd will be administering the Direct Debit process on their behalf. All contact needs to be made through Panacea Finance Ltd.

Direct Debit Guarantee

1. This guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own Bank or Building Society.
2. If the amounts to be paid or the payment dates change, Panacea will notify you at least 7 days in advance of your account being debited or as otherwise agreed.
3. If an error has been made by Panacea or your Bank or Building Society, you are guaranteed a full and immediate refund from your branch of the amount paid.
4. You can cancel a Direct Debit at any time by writing to your Bank or Building Society. Please also send a copy of your letter to Panacea.

Cancellation of the premium finance agreement

If you are an individual (including sole trader, or partnership of no more than three non-incorporated bodies, in England and Wales) acting for purposes which are outside of any business that you carry on, you have the right to cancel the finance agreement within 14 days from the date of completion of the contract or receipt of the welcome letter, whichever is the later. This right can be exercised by providing notice to Conister Trust Ltd c/o MMT Centre, Aust, Bristol, BS35 4BL, by facsimile to 01454 634585 or by email to conister.trust@panaceafinance.net. If you do not cancel the finance agreement within the 14 days period, the agreement will continue in accordance with its terms.

Automatic cancellation of attached contracts

Any finance agreement arranged on your behalf, is exclusively for the purpose of paying the premium for the insurances that we arrange and is referred to as a "secondary" contract. Where the insurance contract is cancelled in accordance with the terms of this agreement, the secondary contract will automatically be cancelled.

Complaints about the finance agreement

It is our intention to provide you with a high level of service at all times. In the unlikely event that you should have cause for complaint, you should write to the Operations Manager at Panacea Finance Ltd, MMT Centre, Severn Bridge, Aust, Bristol, BS35 4BL.

We will acknowledge receipt of your complaint in writing, within 5 working days of receiving your letter and will provide you with a full written response within 20 working days, or explain the current position and provide you with a timescale for a full response. We will endeavour to provide you with a final response within 8 weeks.

If you remain dissatisfied with our final response to your complaint you may be able to refer the matter to the Financial Ombudsman's Service. To use their service you must be eligible and your complaint must be sent to them within 6 months of our final response letter. Full details of our complaints handling procedures are available upon request. Panacea Finance Ltd can be contacted on the details below.

Panacea Finance MMT Centre,
Severn Bridge,
Aust,
Bristol,
BS35 4BL,

Tel: 0845 219 0587
Fax: 01454 634 585
Email: conister.trust@panaceafinance.net

Click here for more information on Conister Trust Ltd