Finex Ventures Ltd Terms of Engagement

Finex Ventures Ltd (Finex) trading as Air Travel Claim Europe is registered at Level 1, Blue Harbour Business Centre, Ix-Xatt ta' Xbiex, Ta' Xbiex XBX1027, Malta, and is registered in Malta with company registration number C108285. This document sets out the Terms of Engagement. These Terms are the complete and exclusive statement relating to its subject matter and supersede all prior communications (oral or in writing) between you and Finex.

Definitions and Interpretation

"Additional Passenger" refers to any passenger whom the Customer has included in the Form for receiving Flight Compensation, such as a family member or another individual who travelled with the Customer on the same airline.
"Airline" means the business who operated the flight, against whom a claim is being pursued.
"Air Passenger Rights Regulations" refers to any law, regulation, directive, international convention, or similar provision - whether enacted at the state, federal, European Union, national, international, or regional level, including relevant case law - that grants consumers the right to claim monetary compensation, damages, or refunds in cases of overbooked, delayed, canceled, or otherwise disrupted flights, as well as issues related to luggage. This includes, but is not limited to, general consumer protection laws, such as "EC 261": Regulation (EC) No. 261/2004 of the European Parliament and Council dated February 11, 2004; "UK 261": The Air Passenger Rights and Air Travel Organisers' Licensing (Amendment) (EU Exit) Regulations 2019; Turkey's "SHY" passenger regulation, Canada's Air Passenger Protection Regulations under the Canadian Transportation Act, and "MC 99": The Montreal Convention of 1999.
"Agreement" means the Terms of Engagement set out herein.
"Assignment Agreement" refers to the document, in electronic or any format, that Finex may request for each claim. Through this agreement, you and Finex agree that Finex will assume ownership of the Claim, as outlined in the terms of the Assignment Agreement, to facilitate the collection and receipt of payments.
"Authority Document" refers to the document that grants Finex, a Finex Group Company, or an authorised Third-Party permission to act on your behalf concerning your Claim. This document may take various forms to meet different jurisdictional requirements, including, but not limited to, a power of attorney or a certificate of authorisation.
"Cancellation Period" means 14 days after the date that You sign the Agreement to Proceed.
"Claim(s)" means any Claim(s) against the Airline in relation to Your flight delay Claim(s), including gestures of goodwill made by the Airline.
"Claims Services" includes but is not limited to checking, preparing, submitting, and negotiating Your Claim(s) to/with the Airline. Where appropriate, this may include commencing legal proceedings. These services may be completed either by Finex or one of its group companies, or an authorised third party.
"Compensation" means any sum offered, paid or given in respect of a settlement, goodwill gesture, rebate or any other payment associated with the Claim(s).
"Court" means a court in the relevant jurisdiction.
"Customer" refers to you, the individual who has agreed to these Terms. In some documents, the Customer may also be referred to as the "Client."
"Discretion" means that Finex has the authority to make decisions regarding your Claim.
"Disbursements" means payments made on Your behalf to others involved in the case. These may include Court fees, barrister fees and/or courier charges. This is not an exhaustive list.
"Fee(s)" refers to the fees and charges outlined here, detailing accepted currencies and payment methods, which you are required to pay to Finex. In addition to Our Fees, Finex may also be entitled to recover Legal Expenses from the Airline as specified in these Terms.
"Form" includes but is not limited to the Assignment Form, Authority Document, power of attorney, or other documents that enable Finex Group and its authorised Third Parties to deliver Services to the Customer. Finex will decide the most suitable Form for each Claim.
"Gesture of Goodwill" refers to a request made by Finex to the Airline for Flight Compensation in cases where established Air Passenger Rights Regulations do not apply. Compensation for Goodwill Claims may be provided in monetary form or as in-kind benefits, such as flight vouchers, loyalty points, or air miles.
"Instructions" means Your formal Instructions to Us to commence the Claims Services by signing and returning an Agreement to Proceed.
"Lawyer" refers to any attorney or law firm that Finex has engaged to provide legal services or take Legal Action in connection with a Claim.
"Legal Action" refers to the process of preparing and submitting a Claim for judicial proceedings, which may involve filing the Claim in court, presenting it before a government entity such as a national enforcement body (NEB), transferring the Claim to a Lawyer to present it directly to the Airline or pursue judicial action, or relocating the Claim across jurisdictions.
"Legal Expenses" refer to all costs incurred, paid, or awarded to you or Finex Group while pursuing a Legal Action. These include, but are not limited to, attorney fees, application fees, court and clerk fees, translation costs, bailiff fees, extrajudicial collection expenses, and any other related costs.
"Letter of Authority" means the document that will be sent to the Airline that evidences Your authority for us to act on Your behalf.
"Finex" means Finex Ventures Ltd registered at Level 1, Blue Harbour Business Centre, Ix-Xatt ta' Xbiex, Ta' Xbiex XBX1027, Malta.
"Reassignment Form" refers to the document signed by both you and Finex, which transfers the rights of your Claim back to you or authorises the return of your Claim to you.
"Signature" refers to an electronic signature you provide using the online signing tool of Finex, which is regarded as equivalent to a handwritten signature. If you are unable to sign electronically, a handwritten or scanned signature can be submitted as an alternative.
"Terms" means these Terms of Engagement, including the form of assignment.
"Third party" means any person or entity with whom Finex contracts with to provide services under this agreement.
"VAT" refers to any system of value added tax where applicable.
"You/Your" means the individual whose details are detailed in the Letter of Authority.

Unless the context otherwise requires, words in the singular include the plural and, in the plural, include the singular.

Your Claim and Responsibilities of the Parties

Upon receipt of Your signed Terms, we will conduct a free flight disruption check to establish whether You have a valid claim. To assist, please supply a copy of Your booking reference. If You don't have a copy, we will contact Your Airline to try and find out the information about the flight.

By signing these terms, you agree:

You will provide Finex with all the data and information for us to execute the services under this agreement. Further, you warrant that the data and information you provide is correct, complete, and true, and, where applicable, with the consent of Fellow Passengers; such as Passenger's first and last name, email address, phone number, type of disruption (such as delay, flight cancellation, or denied boarding/overbooking), reason for delay (if known), duration of delay, airline name, flight number, flight date, departure and arrival locations, and a description of the incident, along with relevant documentation including boarding passes.
That the failure to supply the information in (2.a) will negatively impact the ability of Finex to obtain compensation on your behalf.
That any information supplied is accurate, and that Finex is not liable for any incorrect communications, documents, inaccurate data/information, or fraudulent conduct provided by you. If you knowingly provide false information or data, in addition to any other remedies available to Finex under these Terms, you will reimburse Finex for any Legal Expenses upon request.
That Finex will claim compensation that is monetary. Should you receive an offer of compensation that is not monetary, this will be classified as a refusal by the Airline to provide compensation.
That you have not and will not pursue a claim for compensation for through any other third party or directly with the Airline yourself.
You will forward all communication received from the Airline to Finex.
If you receive any payments in relation to this claim, you must advise Finex immediately. Such payments will entitle you to claim any fee incurred and due because of the compensation award, including recovery of any legal fees.
You assign the rights of the claim to Finex and as such, Finex may pursue the claim in its own name.
At its discretion, Finex may reassign the claim back to you and in this instance, you agree to authorise Finex to process the claim on your behalf, including the collection of any compensation due.
Your claim may be reassigned to you at the initiative of Finex. This reassignment will be formalised by the signing of a Reassignment Form by both you and Finex, which Finex will complete and provide to you.
Finex may accept or decline any individual offer of compensation or an offer of compensation because of a group of claims being initiated.
You accept that the claim has been assigned to Finex, however in the case of an unassigned claim, Finex may also accept or reject offers of compensation on your behalf, without the requirement of further consent from you.
To receive marketing material in respect of any other potential claims/complaints against lenders, airlines and any other business entity.

By signing these Terms, you are instructing us that You have the consent of all other additional passengers listed to make Claim(s) on their behalf, and You agree to be the lead passenger.

You may not transfer any of your rights or obligations under these Terms without our prior written consent. Finex may transfer any of its rights or obligations under these Terms to any Finex Group Companies or any third party designated by Finex.

If you receive payments from us that are (also) intended for other people (e.g., fellow travellers or co-tenants), you must forward these amounts proportionally to the entitled persons.

By signing these Terms, you consent for Your signature to be applied to:

A letter to the Airline requesting they deal directly with Us, or our law partner in UK or EU Jurisdiction, and/or the Airline's alternative dispute resolution scheme form.
To a form assigning the ownership of the claim to Finex.
In respect of any minors, you consent to add Your signature to a Certificate of Suitability to act on their behalf in relation to any Court proceedings and/or legal pack and Letter of Authority.

For additional passengers over the age of 18, to expedite the claim process we will utilise digital signatures to send to the airline in support of the claim.

For passengers under the age of 18, You consent that the lead passenger may act as the Litigation Friend to that minor, and grant permission for us to settle any claim on behalf of any minors without the necessity for an Infant Approval Hearing.

Finex exercises its discretion in deciding whether to pursue your Claim during the Eligibility Service or at any point in the Compensation Service. This includes decisions on whether to proceed with Legal Action, make or accept a settlement offer from the Airline, withdraw the Claim, or pursue a Goodwill Claim.

Finex's discretion in 4. is guided by various factors, including, but not limited to, applicable Air Passenger Rights Regulations, the jurisdictions and court systems relevant to your Claim, Legal Expenses and the likelihood of recovering or being required to cover those expenses, the Airline's historical responses to similar Claims, the expected time to secure Flight Compensation or a favorable ruling through Legal Action, the quality of information you have provided regarding your Claim, any facts that may complicate obtaining Flight Compensation, advice from Lawyers, and Finex's experience with similar Claims.

If Finex determines that You have a valid Claim(s), we send a claim form to the airline to claim compensation.

If the Airline does not pay the Flight Compensation within a reasonable timeframe after notification from Finex, or if Finex, at its sole discretion, determines that the Airline is unlikely to respond to a payment request, Finex may proceed with Legal Action.

If a Lawyer is engaged for Legal Action, you expressly consent to Finex selecting the appropriate jurisdiction and lawyer for the proceedings, and allow Finex to grant the Lawyer access to all data provided to Finex to facilitate the Legal Action. You also expressly consent to Finex to complete the appropriate documentation for the law firm in compliance with 3.d.

If Finex or the Lawyer initiates Legal Action to pursue a Claim, Finex will cover any Legal Expenses incurred during the process, even if the case is unsuccessful. If the lawsuit is won or a settlement is reached with the Airline, Finex may cover any additional costs not paid by the Airline.

When applicable, a reimbursement claim for Legal Expenses will be submitted if a lawsuit is successful. This applies to all Legal Expenses, whether incurred by Finex or by a Lawyer. For clarity, all reimbursements, including Legal Expenses and interest, shall belong to Finex.

Finex reserves the right to withdraw from the Compensation Service if obstacles beyond its control are identified that prevent it from obtaining Compensation for you. Such obstacles may include, but are not limited to, Airline insolvency, court closures, lockdown measures, or a low Flight Compensation value. In these instances, Finex will inform you of the obstacles and close your Claim, with no fee applied.

The Compensation Service ends when the Claim has been settled with the Airline, you have received the Flight Compensation, and any amounts you owe to Finex have been paid, or Either you or Finex may terminate the Compensation Service at any time and for any reason by providing timely written notice; or Finex may immediately terminate the Compensation Service if:

You have breached your obligations under the Terms or any other applicable rules or Regulations.
You have provided incorrect information, engaged in fraud, or participated in activities that Finex reasonably suspects to be misleading or fraudulent, in which case you will forfeit any entitlement to the Flight Compensation or other payments.

Finex reserves the right to seek compensation for any losses incurred because of termination due to your breach.

Upon termination of the Compensation Services for any reason, you must immediately pay any fees owed to Finex under the Terms, including, without limitation, in cases where the Customer withdraws after the Airline has confirmed payment of Flight Compensation.

Finex will not automatically reassign your Claim to you upon Withdrawal or termination. You must request a reassignment, and Finex will provide a Reassignment Form for you to sign.

If you withdraw from the Compensation Service or Finex terminates it due to your breach of the Terms, Finex is entitled to recover the following from you:

Finex's Legal Expenses if Legal Action has been initiated; or
An amount equivalent to the Legal Expenses if, after your Withdrawal, a Judicial Authority requests Finex to pay Legal Expenses to the Airline; or
Finex's Service Fee and, if Legal Action was taken, the Legal Action Fee, in cases where you subsequently receive Flight Compensation directly from the Airline.

Fees and Other payments

Finex will conduct a free flight checking service. Finex undertake Claims Services free of charge unless we are successful in obtaining compensation for the claim, in which case we will transfer the compensation to you, next of our fees.

Finex Fees apply to any type of settlement where Finex successfully obtains Flight Compensation, whether through a court decision, a settlement with the Airline, or by settling the Claim alongside other Claims with the Airline.

If we are successful in obtaining an offer or payment of Compensation, then You owe us the Fee of 35% of the Compensation which has been offered or received. For example, if You receive Compensation of £520, the Fee would be £182 plus VAT. This is applicable to all additional passenger Claim(s).

Fees are subject to VAT at the prevailing jurisdictional rate.

If legal proceedings are issued, an additional 15% of the Compensation that You have been offered or received will be charged to cover the additional costs involved in litigation.

We reserve the right to charge additional Disbursements where necessarily incurred in pursuing the case through litigation.

In all cases we charge an Administration Fee of £15 + VAT per passenger.

If you have provided Finex with incorrect or incomplete payment information, and any Flight Compensation amounts due to you are either unable to be issued or returned to Finex, we will make reasonable efforts to contact you, including email reminders and other communication methods you provided. If you do not respond with the correct payment information, Finex reserves the right to retain the portion of the Flight Compensation that would otherwise have been transferred to you.

In the event the claim is re-assigned to you, you agree to authorise the Airline to remit the Compensation to Finex and agree that we shall deduct the Fee(s) plus VAT before paying the balance of the Compensation to You.

Where You have more than one successful Claim against one or more Airlines, we may deduct from any Compensation paid the Fee(s) plus VAT payable in respect of each of the Claim(s).

Fee(s) plus VAT become due at the point that either we or You are informed of an offer of Compensation and payable from the date You receive Your Compensation.

If the Airline offers or pays Compensation to You directly, you agree to notify us immediately (and within seven days at the latest) and to provide the details we need to calculate the Fee(s).

For the avoidance of doubt, should You reject a reasonable offer of compensation the Fee plus VAT remains due on the sum offered and payable by You within seven days of receiving the offer of Compensation.

VAT, at the prevailing rate is applicable.

If You fail to pay the Fee(s) plus VAT due and payable in accordance with these Terms, we reserve the right to cancel all other active Claims and pursue the payment of our fees by relevant means.

If a fee due to us by You remains unpaid after 45 days, then late payment interest will be calculated at 8% per annum from the date that the fee becomes due until the date payment is made.

Where fees remain unpaid, and Finex are forced to either take Court action or appoint a debt collection agency to recover outstanding monies, Finex reserves the right to increase the amount owed by the amount equivalent to the cost of that recovery. A Court may award additional cost and/or statutory interest at the rate of 8% above the Bank of England rate.

If you fail to notify us of the value of the Compensation offered to you, we reserve the right to charge the Fee(s) plus VAT.

Once Finex has paid the Flight Compensation according to the Customer's instructions and chosen payment method, Finex is not responsible for:

Checks, prepaid debit cards, credit cards, or similar items lost in transit to the Customer.
Any issues arising from incorrect bank account details, address, or similar information provided by the Customer, including, but not limited to, Flight Compensation being sent to the wrong recipient.

If Flight Compensation is paid to an incorrect recipient due to the Customer's error, Finex is not obligated to actively recover it.

You are not entitled to claim interest on the Flight Compensation for the period between when Finex receives it and when it is transferred to you. Finex reserves the right to retain any interest recovered from the Airline, including interest obtained through Legal Action.

Finex is not liable for any compensation, damages, or similar amounts if prevented from transferring payment to you due to events beyond its control, including, but not limited to, strikes, lockouts, labour disputes, force majeure, natural disasters, war, riots, civil disturbances, malicious damage, compliance with laws or governmental orders, rules, regulations or directives, accidents, equipment breakdowns, fires, floods, or storms.

Complaints Procedure

Should You have a complaint You can contact us by writing to Finex at Level 1, Blue Harbour Business Centre, Ix-Xatt ta' Xbiex, Ta' Xbiex XBX1027, Malta, by email to compliance@finexventures.com.

Full details of our complaints handling procedure can be viewed on our website: https://www.finexventures.com/complaints-procedure.

Data Protection

We will hold, control, and process Your personal information in accordance with applicable data privacy and data protection laws (collectively, "Data Protection Laws") in connection with the services we provide. The particular Data Protection Laws may include, depending on the circumstances, the General Data Protection Regulation (EU) 2016/679 (the "GDPR"), and the Brazilian General Data Protection Law (Lei Geral de Proteção de Dados or LGPD), Data Protection Act 2018, the UK General Data Protection Regulations and the Privacy and Electronic Communications Regulations, and other applicable legislation and regulations implementing Data Protection Laws.

By providing Your personal information to us, you explicitly authorise us to process the information for the purpose set out in this paragraph.

You can, at any time, request a copy of all information we hold relating to You by writing to us (a written Data Subject Access Request in accordance with the Data Protection Act/GDPR).

We will use the personal information You provide to assess Your claim and carry out our duties in accordance with this Agreement. We may share Your personal information with other companies, if necessary, to process Your claim for Compensation, or any financial matters we believe may be of assistance to You. Your personal information may also be processed by other organisations, including credit reference agencies, on our behalf for the purpose of processing Your claims and providing information or services to You. The use of Your personal information for these purposes will always remain under our control.

You can change Your mind at any time. Please visit our privacy policy: https://www.finexventures.com/privacy-policy. This will not affect Your credit score.

We may, from time to time, expand or reduce our business which may involve the sale and/or transfer of control of all or part of Finex. In this case, your data could be transferred along with that part and the new owner or newly controlling party will be permitted to use the data for the purposes for which it was originally supplied to us.

You have the right to request access to and rectification or erasure of personal data, or restriction of processing, or to object to processing as well as the right of data portability. To view and/or edit your personal data, or to receive information on how long we intend to retain personal data or if you would like information about whether we hold, or process on behalf of a third party, any of your personal data, please contact us at the following email address: compliance@finexventures.com.

Consequences of cancellation

If you had requested our services to commence during the cancellation period, you shall pay us an amount in compensation relevant to the services provided. Such amount shall be proportionate with the work undertaken until the date on which you notified us that you are exercising your right to cancel.

Your cancellation right shall expire early if we have received an offer of settlement from the Airline, and our services commenced after you gave express consent and by signing these terms and conditions, confirmed, that you were aware of the fact that you would lose your cancellation right in the case of full performance of the contract.

Should you wish cancel your claim(s), please email us at info@finexventures.com.

Other Information

Finex draws on various sources of information and data to provide the services described under these Terms. While Finex strives to deliver accurate information, our Services may occasionally contain omissions or errors and are provided "as is." To the fullest extent permitted by law, Finex disclaims all warranties, whether express or implied, statutory, or otherwise, including but not limited to implied warranties of merchantability, non-infringement of third-party rights, information accuracy, and fitness for a particular purpose.

Finex makes no guarantees that our Services will result in Flight Compensation, meet your expectations, or be secure, virus-free, uninterrupted, timely, complete, or reliable. You acknowledge and agree that you use our Services at your own risk.

To the fullest extent permitted by applicable law, Finex and its Group Companies shall not be liable for any direct, indirect, punitive, incidental, special, or consequential losses or damages, or for any loss of income, profits, or goodwill arising out of or related to: (i) our Services, (ii) any delay or inability to access our Services, (iii) viruses, bugs, malware, third-party linked websites, or services obtained through our Services, or (iv) any other matter concerning our Services, whether based on contract, tort, strict liability, or otherwise, even if Finex, its Group Companies, or suppliers have been advised of the possibility of such damages.

These Terms do not affect any of your statutory rights that cannot be excluded by law. If you are dissatisfied with any part of our Services or with these Terms, your sole and exclusive remedy is to Withdraw in accordance with the Terms.

Finex reserves the right to modify sections of these Terms at any time without prior notice. The latest version will always be available on the Finex website. Finex continually updates the features of our Services and these Terms to enhance service delivery. Consequently, any new features of our Services will be governed by the most recent version of the Terms available on the Finex website.

If you prefer to pursue your Claim through alternatives to Finex's Compensation Services, you have several options for enforcing the Claim: you may take your own extrajudicial or judicial action against the airline, seek support from a lawyer, or contact the Airline directly. In Germany, additional options include using the conciliation body for public passenger transport (die Schlichtungsstelle für den öffentlichen Personenverkehr e. V., "söp"), submitting an online form with the German Federal Aviation Authority, or contacting the Air Transport Arbitration Body at the German Federal Office of Justice.

These Terms, Forms, and the agreement between you and Finex, along with any dispute or claim arising from or related to them (including non-contractual disputes or claims), shall be governed by the laws of Germany, without regard to conflict of laws principles. This does not affect any mandatory legal provisions that would apply irrespective of this choice of law clause, such as the mandatory provisions of the customer's country of residence.

If any provision (or part of a provision) of these Terms is found by any court or competent authority to be void or unenforceable, that provision shall be replaced by an enforceable provision that most closely reflects the original intent, and the remaining provisions of these Terms shall remain valid and enforceable.

Any failure or delay by Finex in enforcing any provision of these Terms, in whole or in part, shall not be interpreted as a waiver of our rights or remedies.

In case of any inconsistency between language versions, the English version of these Terms shall prevail.

We reserve the right to assign all rights in these Terms and to subcontract to others all or any of our obligations under it.

I/We have read the Terms & Conditions and agree to be bound by their contents. A copy of the Terms & Conditions can be found on the reverse of the welcome letter. Please keep this document safe, as this is Your contract between You and us. Full T&C's can be viewed here: https://www.finexventures.com/terms-and-conditions.

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Complaints Procedure

Our clients are important to us. We want to exceed our customers' expectations every time; however, there will be occasions where we may fall short in some way. If this happens, we want to know, and we can assure you that we take every complaint received very seriously and deal with them in accordance with our internal complaints procedure which is designed to resolve our clients concerns quickly and efficiently.

How can I make a complaint?

If you need to make a complaint, please contact us using the details below:

Post: Finex Ventures Ltd, Level 1, Blue Harbour Business Centre, Ix-Xatt ta' Xbiex, Ta' Xbiex XBX1027, Malta.

Email: compliance@finexventures.com

What happens next?

You will receive an acknowledgement either by writing or by email within 5 working days of receipt. Our team will then investigate your concerns and a response will be issued within 8 weeks.

Where we decide redress is appropriate, we will provide you with fair compensation for any acts or omissions for which we are responsible and will comply with any offer of redress which you accept. Appropriate redress will not always involve financial redress.

If we do not hear from you within 14 days of receiving our response, we will assume that your complaint has been resolved and your file will be referred back to the relevant department.

I'm not satisfied with the response...What can I do?

If you do not feel that your complaint has been resolved satisfactorily please get back in touch with us (using the above contact details) to explain why and ask for a further review. Your case will be reviewed by the Senior Manager and a response will be sent within 8 weeks from the date we received your first complaint. This is the final stage of our internal complaints procedure.

Terms and Conditions