Article

Fraud ? That’s not our problem, we weren’t there!

01-Jun-2018

During a recent customer contract review, we discovered a machine, already the subject of an existing lease, had been sold to a new lease company alongside new equipment.

While this happens pretty much every day of the week in this industry, something about this agreement sparked our interest.

 

Although the upgrade information was correctly displayed in the new leasing document, the seller had neglected to settle the original lease, leaving the customer to foot the bill for Two lease agreements, sadly this too is a regular occurrence with some companies as it massively aids their cashflow.

However, in this instance, the upshot of the sellers ‘oversight’ was that the new leasing company had inadvertently bought equipment from the seller, which the seller didn’t own or have permission to sell.

An unfortunate oversight may be but to sell something without the owner’s permission is fraud.

Seeing as how the lease was based on a fraudulent transaction, you could be forgiven for thinking that once notified of the unfortunate turn of events, the new leasing company might perhaps declare the lease invalid or at least demand the money back from the seller.

Well it seems not so if the lease company is a UK subsidiary of a fairly large French bank.

When the fraud was bought to their attention they rather comically rolled out their standard response to any customer complaint, they told the customer basically; it is not our fault, we were not there, you chose the supplier and the equipment, you signed the delivery note to confirm it was delivered, talk to the supplier, they said basically it’s your own fault.

Clearly a ridiculous stance for any leasing company to take under such circumstances, it does however highlight how this company might value and protect you as a customer which is perhaps worth considering if you are ever encouraged to place your business with them.

Thankfully when we bought it to the attention of the seller, they immediately corrected the matter, cancelled the faulty lease, compensated the client accordingly and the client/ seller relationship continues today.

Note to Leasing company; it is not the nature of the complaints you receive that matters, it is your actions in resolving them which makes your reputation.     

If you too experience issues with a French or German, Dutch, Spanish, Swiss, Greek, Australian or an English leasing company, feel free to call us: 0208 695 7301 or email; advice@faircontracts.co.uk, we are here to help.

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