The BBA is now integrated into UK Finance. Please go to www.ukfinance.org.uk for new content and updates from UK Finance.
Material published by BBA prior to 1st July 2017 is still available on this website.
From 1 July 2017, the finance and banking industry operating in the UK will be represented by a new trade association, UK Finance. It will represent around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation will take on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association.x
Welcome to the British Bankers’ Association’s public website (the “Service“) currently located at www.bba.org.uk, www.bankfacts.org.uk, www.restoreuk.org.uk, www.jmlsg.org.uk and www.bbalibor.com (the “Sites“) or such other URL from time to time for the Service.
If you are a member, please refer to the Members’ terms and conditions.
Before using the Service you agree on your own behalf and on behalf of each entity and person on whose behalf you act to be bound by the following Terms and Conditions (the “Terms“).
If you do not agree to abide by these Terms you should not access or use the Service in any way.
For clarity, in these Terms, “we”, “our” and “us” means the BBA (The British Bankers’ Association) and/or its trading company BBA Enterprises Limited a company registered in England and Wales whose company number is 3162894 and BBA LIBOR Limited, company number 7064847 all registered office is Pinners Hall, 105–108 Old Broad Street, London, EC2N 1EX and their successors in title and assignees. “You” and “your” means any natural or legal person who uses the Service and each entity on whose behalf you act. You are also referred to the definitions at the end of this document.
1.1 The Service is free and we will not charge you any monthly or annual service fees for the use of the Service. You are liable, however, for all charges incurred in accessing and using the Service and where relevant for paying the telephone charges at the rate publicised by the operator with whom you make your local calls.
1.2 By accessing and using the Service you confirm that you are eligible to use the Service.
1.3 You shall use the Service in accordance with these Terms and all applicable laws, regulations and codes of conduct (including self regulatory) applicable to the use of the Internet and you agree to be solely responsible for all things arising from your use of the Service.
1.4 You agree not to:
1.4.1 use the Service except in accordance with these Terms as amended and posted on the Sites by us from time to time.
1.4.2 sub-license, assign or subcontract any part of your benefits and obligations under the Terms.
1.4.3 use or permit the use of the Service for any illegal purpose.
1.4.4 reproduce or re-transmit any part of the Information in any form without our prior written consent (except to the extent expressly provided in these Terms).
1.4.5 damage, interfere with or disrupt access to the Service and/or the Sites or do anything which may interrupt or impair their functionality.
1.4.6 make or derive any commercial use or benefit from any part of the Service and/or Sites.
1.4.7 use the Service in such a manner as would bring us, our organisation and/or business into disrepute.
1.4.8 obtain or attempt to obtain unauthorised access, through whatever means, to the Service, the Sites, other services or computer systems or areas of our networks.
1.4.9 make available, upload or distribute by any means any material or files that contain any viruses, bugs, corrupt data, “trojan horses”, “worms” or any other harmful software in connection with your use of the Service.
1.4.10 use the Service in any way to send unsolicited (commercial or otherwise) e–mail (spamming) or any material for marketing or publicity purposes.
1.4.11 post any infringing, defamatory, obscene or other unlawful information to any community, discussion or chat area of the Sites.
If your use of the Service interferes with our ability to provide the Service to you or any services to our other users, (each a “Prohibited Use“), we may suspend provision of the Service to you until the Prohibited Use has ended. We shall then as soon as reasonably practicable resume provision of the Services.
Except as expressly provided for below, you agree to indemnify and hold us, and any of our officers, employees and agents harmless from any loss or damage including without limitation in respect of any claim brought by any third party arising in respect of these Terms and/or the Service and/or the Information provided to you and/or your use or misuse of the Service and/ or conduct on the Sites.
4.1 We license you to use the Information in order to view it for your own use only.
4.2 All right, title and interest to the Intellectual Property Rights which subsist or may subsist in the Information, the Service and/or the Sites vests in us (or is licensed to us) and subject to 4.1 above, you agree not to modify, reproduce, republish, upload, post, distribute or otherwise transmit or use the Intellectual Property Rights provided by us to you in any way without our prior written consent.
4.3 BBA Libor is a registered trade mark of BBA. “BBA” and logo are trade marks of BBA. Any trade marks, service marks and/or other trade names used by us from time to time shall not be used by you at any time without our prior written consent including without limitation our registered trade mark BBA Libor and logos, all page headers, custom graphics and button icons on the Sites.
4.4 You shall not use any trade marks, service marks and/or other trade names used by us from time to time for any purpose including to imply endorsement by us of your website and/or goods and/or services or otherwise without our prior written consent.
4.5 All other trade marks referred to on the Sites are the trade marks of their respective owners.
4.6 Copyright guidelines for use by you of our Publications and Information
The following guidelines apply if you wish to reproduce the whole or part of a Publication and/or the Information whether in hard copy and/or electronic format or otherwise:
4.6.1 In all instances, you should obtain prior written permission from the BBA Publication Unit before doing any of the restricted acts under the Copyright, Designs and Patents Act 1988 or anything which would amount to an infringement of database rights in respect of all or any of the Publications and/or Information whether purchased from us in hard copy or CD–ROM or freely distributed by us online through the Sites including without limitation copying and/or distributing the Publications and/or Information in any format online or offline for internal use, use on intranets or for communication to the public. A licence fee may be payable if we grant you the right to reproduce the whole or part of a Publication and/or the Information.
4.6.2 Redistribution of the Publications and/or Information via another website is not permitted without our prior written consent.
4.7 Links to Third Party websites: the Sites may contain links to third party websites (“Linked Sites“). We do not control, sponsor, endorse or otherwise approve of any information or statements appearing in the Linked Sites (nor in other sites referred to in or linked to the Linked Sites). We are not responsible for webcasting or any other form of transmission received from any Linked Site nor are we responsible if the Linked Site is not working properly.
4.8 Third Party Software: Your use of any third party software that is made available to download by us in connection with the Sites is governed by any separate licence terms and conditions of the respective software supplier.
We reserve the right to amend these Terms, in whole or in part, at any time and you will be notified of the same by our posting of such Terms on the Sites. Your continued use of the Service after any changes have been posted on the Sites will be considered acceptance of any changes.
6.1 Any goods or services advertised on the Sites including without limitation our conferences, training and publications can only be ordered and/or booked by businesses and parties acting in a trading or professional capacity (including academics acting in their professional capacity) and not by consumers.
6.2 Any goods or services displayed on our Sites merely constitute an invitation to treat, and may be withdrawn by us at any time. Under no circumstances does the display of such goods or services constitute an offer by us to sell the same to you.
6.3 Prices and other terms and conditions listed on the Sites are for information purposes only and are subject to change by us without notice prior to delivery of goods or provision of services. We therefore reserve the right to change the programme for conferences and training without prior notification.
6.4 Bookings/Orders: Orders for Publications must be made on a registration form and we do not take provisional bookings for conferences and training.. You should send us your completed registration form accompanied by full payment by either fax to: 020 7216 8920 or post to: BBA, Pinners Hall, 105–108 Old Broad Street, London, EC2N 1EX, UK. If payment can be made via credit card or debit card, conferences and training may be booked by telephone or online. A binding contract will come into existence upon acceptance by us of your booking and/or order.
6.5 Payment: Payment may not be withheld or deferred by you on account of any counterclaim or set-off. Any amount not paid by you on the due date shall, at our discretion, bear interest from the invoice due date until payment by you in full at a rate equivalent to 2% above Barclays’ Bank plc’s base rate from time to time in force.
6.6 We aim to process each booking for a conference or training within 14 calendar days although time shall not be of the essence in respect of processing orders and bookings.
6.7 We do not invoice. However, we will issue you with a VAT receipt after the conference or training order. Our members can be invoiced for orders totalling more than £1000 for publications on request to us.
6.8 Delivery: delivery shall take place when the goods you have ordered including Publications are delivered to your delivery address as given by you in the relevant order. Subject to any delay that may result in consequence of the circumstances described in clause 13, we will make all reasonable efforts to deliver the goods including Publications to the address stated.
6.9 Time shall not be of the essence in the performance of any order.
6.10 Delivery is subject to stock and availability. We aim to deliver within 3 – 5 working days from the receipt of your order. Our prices include postage and packing costs within the UK. An additional charge for postage and packing applies to all overseas orders as notified to you at the time of the order.
6.11 Acceptance of goods: You shall be responsible for inspecting the goods including Publications promptly on delivery and notifying us in writing forthwith after delivery if any goods including Publications have been delivered damaged or have items missing.
You shall be deemed to have accepted the goods including Publications once:
Any complaint regarding the goods including Publications delivered by us to you must be communicated to us in writing within 3 (three) working days of delivery failing which you shall not be entitled to reject any of the goods including Publications accepted under this clause 6.
6.12 Title/Risk: risk in the goods including Publications shall pass to you once the goods including Publications have left our premises and/or our suppliers’ premises. All title in the goods including Publications sold subject to these terms and conditions remains vested in us until the Goods are paid for in full by you and until such time the Goods may not be charged or, encumbered in any way.
6.13 Amendments to bookings: any change of delegate details must be received in writing.
6.14 Cancellations: An administration charge of £35 will be payable by you on all cancellations of bookings for conferences and/or bookings for training and/or orders for goods including Publications (other than for bespoke orders of Publications which cannot be cancelled) received by us up to and including 14 days before the respective conference, training or dispatch of the order.
If a cancellation notice is received from you later than 14 days before the respective conference, training or dispatch of the order, no refunds will be made by us to you and you will be liable to pay in full for the goods and services in question. In such cases, registrations cannot be transferred to other events. You have no right to cancel bespoke orders of Publications and you will be liable to pay in full for the bespoke Publications in question.
6.15 Third Party’s Goods and Services: We may provide hyperlinks to goods and services on third party websites. However, each third party is responsible for setting and explaining their individual terms and conditions of shipping, return, security, data protection and other policies and terms applicable to their sale of goods and/sor services.
We do not endorse, guarantee or warrant any product or service sold by a third party, nor do we have any liability or responsibility for the fitness for purpose or quality or delivery of any product or service sold to you by third parties or otherwise. The purchase or receipt by you of any product or service from a third party is a transaction solely between you and that third party.
7.1 You acknowledge and accept that the Service involves transmissions over the Internet and that such transmissions are therefore subject to the Internet’s inherent risks. You acknowledge and accept that, as with any network, you may be exposed to:
7.1.1 unauthorised invasions of privacy during, or as a result of, using the Service and/or the Sites;
7.1.2 system–threatening viruses and other unauthorised and invasive programs transmitted by third parties;
7.1.3 unauthorised dissemination and publication to others of information and material originally sent only to selected recipients on or through the Service and/or the Sites;
7.1.4 eavesdropping and electronic trespassing;
7.1.5 fraud and forgery; and/or
7.1.6 the failure of information and data to reach their intended destinations and/or erroneous receipt or misdirection of such information.
7.2 Although, we and our suppliers’ privacy and security features are designed to reduce these risks, we cannot guarantee their elimination. It is your responsibility to ensure that your systems protect against the events listed in 7.1 and otherwise comply with good industry practice. You also acknowledge that no transmission via the Service and/or the Sites shall be deemed confidential and that we shall not be liable for any breach of confidence arising as a result of such event.
8.1 Any material contained in the Sites’ chatrooms and/or bulletin boards represents the opinions of the authors and does not in any way represent our opinions. We do not warrant or represent in any way the completeness or accuracy of the material posted in the Sites’ chatrooms and/or bulletin boards.
8.2 We do not monitor the content of the material posted in the Sites’ chatrooms and/or bulletin boards. However, in our sole discretion, and without prior notice, we may at any time review, remove, or otherwise block any posting or terminate your membership or use or participation in the Sites’ chatrooms and/or bulletin boards on any grounds we deem reasonable including without limitation your breach of clauses 1 and 4 of these Terms.
8.3 If you consider that any material on the Sites’ chatrooms and/or bulletin boards constitutes misuse under these Terms or constitutes harassment, defamation or infringes any third party rights or is otherwise unlawful please email us at email@example.com giving details of your concerns and objections.
Because the Service is provided by means of website and telecommunication systems (including local loop network providers and other connectivity arrangements over which we have no control) you acknowledge that:
9.1 The Service cannot be operated in all circumstances without error (including without limitation errors in any software used to provide the Service, the Information, the Sites and telecommunications links) and we shall be under no liability for the consequences arising from any such error or the reliance by you upon the Service.
9.2 Time shall not be of the essence in relation to our delivery and/or provision of the Service including without limitation provision of the Information and/or Publications.
9.3 We shall not be liable for any dissimultaneity, lack of availability and/or errors in the Information including without limitation errors in the Libor ratesand/or Repo rates and/or delays in telecommunication services and therefore we shall not be liable for any interruptions, faults or inaccuracies in the provision of the Service and/or the Information including without limitation the Libor rates and/or Repo rates however arising or for any loss or damage arising from such interruptions, delays, faults or inaccuracies.
9.4 You should independently verify all relevant Information, figures and rates provided on the Sites prior to your use of such Information, figures and rates. We may change, update or correct any such Information, figures or rates at any time without notice.
10.1 We warrant that we shall use reasonable skill and care in providing the Service.
10.2 To the extent not prohibited by law and subject to Clause 11.4, we exclude all conditions, terms, representations and warranties, whether implied by statute or by operation of law or otherwise, that are not expressly set out in the Terms.
11.1 You hereby agree to afford us not less than 28 days in which to remedy any breach of the terms. Subject to the other provisions of this clause 11, we hereby exclude liability to the fullest extent possible under law in respect of any breach by us, our directors, agents, employees or sub-contractors of the terms, unless you serve written notice setting out the details of the breach on us within one year of the date on which you became aware of the circumstances giving rise to the breach or the date when you ought reasonably to have become so aware.
11.2 Without prejudice to clause 11.1 and subject to clause 11.4, the following provisions set out our entire liability (including any liability arising from our directors, employees, agents or sub-contractors) to you in respect of:
11.2.1 Any breach of our contractual obligations arising under the terms;
11.2.2 Any representation statement or tortious act or omission including negligence arising under or in connection with the terms; or
11.2.3 Any breach of statutory duty relating to the subject matter or performance of the terms.
11.3 To the fullest extent permitted by applicable law, we shall not be liable for any direct or indirect:
11.3.1 Incidental loss;
11.3.2 Special loss;
11.3.3 Wasted or lost management time;
11.3.4 Lost profits, goodwill, savings or other economic loss; and/or
11.3.5 Loss of data
(“excluded loss”) arising from or relating to the terms and/or the supply of goods and/or services including without limitation the supply of information, publications, workshops, conferences and/or the performance or non-performance of the whole or part of the service and/or the sites or any other services performed by us, even if such loss was reasonably foreseeable by us or if we had been advised of the possibility of you incurring the same.
11.4 Our liability to you shall not be limited (except that to the extent permitted by applicable law the limit of liability in clause 11.5 shall apply to any intellectual property rights infringement claims) for:
11.4.1 Death or injury resulting from our own or that of our employees’, agents’ or sub-contractors’ negligence;
11.4.2 All damage suffered by you as a result of any breach by us of the condition as to title or the warranty as to quiet possession implied by section 2 of the supply of goods and services act 1982 or section 12 of the sale of goods act 1977; and
11.4.3 Any fraudulent representation made by us.
11.5 In the event that we become liable for loss or damage that we may lawfully limit or exclude, you agree that our liability to you shall be limited in the aggregate for all such loss and damage in any year to £100.
11.6 Nothing in this clause 11 shall confer any right or remedy upon you to which you would not otherwise be entitled.
We reserve the right, in our sole discretion, to suspend and/or terminate your access and/or use of any or all of the Services and/or the Sites at any time without notice.
13.1 Neither party shall be in breach of the Terms for failure to perform or delay in performing any or all of its obligations as a result of an event of force majeure (“Event of Force Majeure”) unless it has failed to comply with its obligations under this Clause. For the purposes of the Terms, Event of Force Majeure shall include without limitation acts of God (including flood, fire, earthquake or other similar event), riots, war, strikes, lock-outs or other industrial disputes, epidemics, failure of telecommunication systems, failure of the world wide web, governmental restraints and act(s) of legislature or any cause (other than lack of funds) outside the reasonable control of the affected party.
13.2 Each of the parties agrees that it shall immediately it becomes aware of any Event of Force Majeure give written notice to the other party containing details of the circumstances giving rise to the Event of Force Majeure and specifying the period for which it is estimated that it will continue.
13.3 The operation of the Terms shall be suspended during the period in which an Event of Force Majeure continues to have effect except for any obligation, if relevant, to pay any sum due at the onset of the Event of Force Majeure or payable in relation to performance before the Event of Force Majeure.
13.4 Immediately upon the Event of Force Majeure ceasing to have effect, the party relying on it shall notify the other in writing and the operation of the Terms shall continue.
13.5 If a default due to an Event of Force Majeure continues for more than 12 (twelve) weeks, either party shall be entitled to terminate the Terms upon serving a written notice to the other.
13.6 Neither party shall have any liability to the other in respect of the termination of the Terms as a result of an Event of Force Majeure.
14.1 Any notice given by a party under the Terms shall be in writing (which shall include in electronic form) and shall be delivered by hand or sent by pre-paid first class post or by facsimile transmission or electronic mail to the principal business address of the other party. The notice shall be effective when it is actually received or when it is deemed to have been received whichever is the earlier.
14.2 Notice shall be deemed to have been received:
14.2.1 if delivered by hand, on the date of delivery;
14.2.2 if sent by pre-paid first-class post, at the end of the second business day after the date of posting;
14.2.3 if sent by facsimile transmission to the correct facsimile number of the addressee (with confirmation of receipt), two hours after successful transmission has been printed or noted by the sender’s fax, if sent before 3.00 p.m. on any business day, and in any other case at 10.00 a.m. on the business day following the date of sending.
No rights are conferred on any person who is not a party to the Terms.
The giving of time or indulgence in respect of the observance or performance of any of the terms and provisions of the Terms by the other party or the failure by a party to exercise or enforce any right or remedy arising under the Terms shall not operate as a waiver of any such obligation of the other party or any such unexercised or unenforced rights and remedies shall not relieve the other party from any subsequent observance or performance of any such terms, conditions and provisions.
Each provision contained in the Terms shall be severable from any other provisions, and if any part of any provision shall be found to be invalid, illegal or void for any reason such invalidity, illegality or void shall not affect any other part of such provision or any other provision contained in the Terms which shall continue to have full force and effect.
These Terms constitute the entire agreement between the parties and supersede all prior agreements, negotiations, representations and proposals whether written or oral concerning the subject matter of the Terms, subject to clause 11.4.3.
The Terms shall be construed in accordance with the laws of England and the parties hereby submit to the exclusive jurisdiction of the English Courts.
You shall not assign any of your rights or obligations under these Terms without our prior written consent. We shall have the right to assign or otherwise delegate all or any of our rights or obligations under these Terms.
21.1 In the Terms where the context admits or requires:–
“Information” means any information or content made available in whatever form on the Sites including without limitation Publications, Libor rates, Repo rates, information, data, statistics, software, graphics, artwork, text, audio, video, animation and images.
“Intellectual Property Rights” means all present and future intellectual property rights world-wide howsoever arising and in whatever media, whether or not registered, including without limitation, patents, trade marks, design rights, copyright, database rights, service marks, trade names and rights in confidential information.
“Publication” means any publication provided free of charge by us on the Sites or any publication advertised on the Sites that can be ordered by you for which payment is required.
“Service” means access to the Information via the Sites as operated by us from time to time.
21.2 The headings of clauses are for ease of reference and shall not affect the interpretation or construction of the Terms.
21.3 In the Terms words importing any gender shall not exclude any other gender and the singular shall include the plural and the masculine include the feminine and vice versa.
21.4 Reference to any statute or statutory provision includes a reference to:
21.4.1 that statute or statutory provision as from time to time amended, extended, re-enacted or consolidated; and
21.4.2 all statutory instruments or orders made pursuant to it.
21.5 Unless the context otherwise requires those provisions contained in the Terms which relate to any subject matter of which there are more than one shall apply severally to each.
21.6 Clauses referenced by name shall refer to the Clause having the title referred to.
21.7 The following words shall be interpreted as follows:
21.7.1 “or” connotes any combination of all or any of the items listed and as the case may be from time to time; and
21.7.2 where “such as” or “including” is used to refer to an example or begin a list of items, such example or items shall not be exclusive; and
21.7.3 “specified” requires that an express statement is contained in the relevant document; and
21.7.4 “will” shall denote obligation, not purpose or intent, unless the context requires otherwise.