At Rossetts Commercials, we are committed to treating all our customers fairly, respectfully, and with integrity. We recognise that some individuals may find the process of purchasing a new or used commercial vehicle more challenging due to their personal circumstances. This policy outlines how we identify, support, and safeguard vulnerable customers throughout the sales and service journey.
A vulnerable customer is someone who, due to their personal situation, may be less able to fully understand the information provided, make informed decisions, or may require additional support. Vulnerability can be temporary, permanent or fluctuating, and may be caused by:
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Age (young or elderly)
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Mental health conditions (for example, anxiety, depression)
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Physical health issues or disabilities
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Learning difficulties or cognitive impairments
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Language barriers or low literacy
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Low financial capability or difficulty managing money
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Life events such as bereavement, job loss or divorce
In Inspired Business Investments Ltd [IBI Ltd] we recognise that people, through their life or just for a short time, may need us to work with them differently. This could be because of their physical or mental well-being, difficulty understanding and managing money, or because of a life event. As a business, we are committed to working hard to identify such situations and, in turn, tailor the support we can offer customers with their finance and product needs.
This definition is in line with the FCA’s own, as published in their document ‘Approach to Consumers’: “Someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.”
The purpose of the vulnerable customer policy is to communicate the minimum requirements for our colleagues, business areas and relevant third parties to identify and treat our vulnerable customers appropriately. In short, vulnerability is what we identify, tailored support is what we offer.
The requirements specified in this policy have been devised to help us manage risk and mitigate potential customer harm. This is in line with our regulatory obligation to treat customers fairly and our legal obligation to make reasonable adjustments.
A summary of the main regulatory requirements and guidance that support the need for this policy is included in the appendix of this document.
- Customers are considered to be ‘natural persons’, which includes individuals and business customers, where businesses are not incorporated. This includes sole traders and some partnerships.
- Definition of Customer Harm: Customer harm will have occurred if a customer has experienced material distress, inconvenience, detriment, loss or unfair outcomes as a result of a failure of our business model, process or control.
Rossetts Commercials is committed to delivering a fair and inclusive experience for every customer. If you believe you are in a vulnerable situation and need additional support, please let a member of our team know. We are here to help.