Terms and Conditions
In this document, you will find the detailed terms and conditions of service for Bionic Services Ltd.
For your benefit and ease of use, we have highlighted the following conditions to explain how we will put things right if have done something wrong, the circumstances in which you may be charged directly, and how we as a business earn our money.
1. The circumstances under which Bionic Services Ltd will compensate customers for any loss occurring as a result of an act or omission made by Bionic Services Ltd in carrying out the Services are set out at Clause 9.4.
2. There is no fee due from a customer directly to Bionic Services Ltd for its Switching Service (or any other Service), except when a customer subsequently decides not to continue with the transfer to the new energy supplier after having agreed upon a contract, in which case Bionic Services Ltd may charge an administration fee. See Clause 4.18 for more information.
3. Bionic Services Ltd makes its money through receiving commission from the energy supplier we switch you to, or your current supplier if we renew your existing contract for you. Bionic receives its commission directly from the supplier based on the estimated consumption for the term of that contract and the commission agreement with the supplier.
This commission is included in the rates we arrange for you with the supplier, there are no extra payments that you have to pay directly to us.
Some suppliers may make additional payments to us based on the size and/or profitability of our account with them, or new initiatives; for instance, if we place more than one of your meters, or arrange a certain volume of contracts and/or repeat contracts with a supplier, they may pay us more commission than for a single switch.
Additionally, we may continue to receive a commission with the supplier we place you with after your contract has ended, but you haven’t renewed your contract or switched elsewhere.
We are happy to share with you how much commission we may have earned, and you can request this at any time by contacting us at commission@bionic.co.uk.
See clauses 5.2 and 5.3 for more information.
4. Bionic will arrange the Contract based on the information provided by the Customer to Bionic. Prior to completion of the Contract, the Customer’s information will be confirmed by Bionic with the Customer by email, via the Call Centre or by letter. It is the Customer’s responsibility to ensure at this point that all the Customer information is true, accurate, complete, reliable and current in all respects and to inform Bionic promptly if there are any errors and/or if any amendments are required. If any of the Customer information needs to be amended or rectified, this may result in the transfer being delayed or rejected by the Supplier.
See clause 4.16 for more information.
If you have any specific questions in relation to our terms and conditions, our Customer Service team will be more than happy to help. Likewise, if you feel that we did not handle your issue in the right way or there is a problem we might be able to fix, please get in touch. Your views are very important to us. If we have not delivered the standard of service you expected, or if we made a mistake, we would like to know. We will investigate the situation and set about putting it right as quickly as we can, if we can. We don’t want to make the same mistake again, so your feedback is very important to us.
Bionic’s Customer Service Team can be reached on freephone 0800 970 0226
TERMS AND CONDITIONS OF SERVICE
These Terms govern the use by the Customer of any of the Services that Bionic agrees to provide to the Customer from time to time, whether via the Site, the Call Centre or otherwise. Please read these Terms carefully before accepting these Terms and using the Services. By using the Services you signify that you have read, understand and agree to be bound by these Terms as well as the terms and conditions set out in our Privacy Policy https://bionic.co.uk/about-bionic/privacy
If you do not agree to these Terms and the Privacy Policy, do not use the Services.
1. Definitions
The following definitions apply to these Terms and Conditions of Service (the “Terms”):
Bionic: means Bionic Services Limited, which is a company registered in England and Wales under company number 05949018 and which has its registered and trading office on the 4th Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
Contract Cancellation Administration Fee: has the meaning set out in clause 4.18.
Call Centre: means the call centre operated by Bionic for the purposes of providing the Services.
Contract Checking Service: this means the contract checking service that Bionic agrees to provide to the Customer whereby Bionic obtains, on the Customer’s behalf, information about the Customer’s existing contractual position with the Customer’s Existing Supplier.
Credit Score Criteria: means the credit rating requirements as may be determined and required by Bionic and/or the Supplier from time to time in order for a Customer to qualify to use the Services and contract with a Supplier.
Customer: means any non-domestic commercial customer who satisfies the eligibility requirements set out in clause 3.2 and to whom Bionic agrees to supply any of the Services from time to time.
Digital Renewal: means the renewal service that Bionic provides to the Customer whereby the Customer appoints Bionic as its exclusive agent with authority to negotiate, secure and enter into new Supply Contracts on behalf of the Customer and to terminate any existing Supply Contracts relating to each separate Supply Number during the Term applicable to any such Supply Number.
Existing Supplier: means the Customer’s existing third party energy/utilities supplier.
Intellectual Property Rights: means any and all intellectual property rights, including without limitation; copyright, patents, rights in inventions, design rights, trademarks, service marks (in each case whether registered, unregistered or the subject of an application to register), moral rights, database rights, rights in computer programs, semi-conductor topographies, confidential information, trade secrets, know-how, business, trade and domain names, rights in goodwill and rights to bring a claim for passing off, unfair competition rights and all similar, like and analogous rights wherever held in the world and all extensions revivals and reversions thereof and, in each case, all equivalent forms of protection which subsist now or which subsist in the future.
Letter of Authority: means a letter that the Customer will sign authorising Bionic to act on its behalf and to contact and liaise with the Customer’s Existing Supplier, as may be required in the course of Bionic providing the Services.
Price Comparison Service: means the price comparison service that Bionic agrees to provide to the Customer whereby the Customer is provided with impartial information on Suppliers’ prices in relation to the services and products offered by the Suppliers.
Quotation: means a quotation provided to the Customer by Bionic on behalf of a Supplier which sets out the terms and prices upon which a Supplier may be prepared to supply the Supplier Services to the Customer.
Services: the services provided by Bionic whether via the Site, the Call Centre or otherwise, to which the Customer chooses to subscribe from time to time, which shall include the Price Comparison Service, Digital Renewal, the Switching Service and the Contract Checking Service.
Site: means the website www.bionic.co.uk
Supplier: means any third party energy/utility supplier of services and/or products as may be selected by Bionic and/or listed on the Site from time to time.
Supplier Services: means the energy/utility supply services and/or products as may be agreed to be provided by a Supplier to a Customer from time to time.
Supply Contracts: means contracts with energy suppliers for the supply of electricity and/or gas.
Supply Number: means electricity or gas meter points with administration or reference numbers.
Switching Service: means the switching service that Bionic agrees to provide to the Customer whereby Bionic agrees to either: (i) facilitate the switching of the Customer to the Supplier; or (ii) assist in the renegotiation of the Customer’s arrangements with its Existing Supplier; in each case, if the Customer has accepted a Supplier’s Quotation presented to it as part of the Price Comparison Service.
2. Application of terms
2.1 Subject to clause 2.2 below, these Terms shall apply to the provision of any Service by Bionic to a Customer and shall apply in place of, prevail over and supersede any other terms or conditions contained or referred to elsewhere (whether in correspondence or otherwise) or implied by trade, custom, practice or course of dealing unless specifically agreed to in writing by Bionic or a Bionic authorised representative.
2.2 From time to time Bionic may supplement these Terms with additional terms relevant to the provision of certain Services, including without limitation the Contract Management Services. These additional terms may be placed on the Site and/or sent to you and you agree that any such additional terms are hereby incorporated into these Terms.
3. Subscribing to the Services
3.1 In order to use any of the Services, the Customer will need to register with Bionic via the Call Centre or the Site. Bionic may, in their sole discretion, refuse to register any business as a Customer.
3.2 In order to be eligible to register to use the Services, the Customer must:
a) be a business that is resident in the UK;
b) be aged eighteen years or over (if a sole trader);
c) meet any Credit Score Criteria required by Bionic and/or any Supplier; and
d) be able to provide Bionic with all such relevant information as Bionic may require in order to provide the Services to the Customer.
4. Provision of Services
Price Comparison Service
4.1 If the Customer opts for and Bionic agrees to provide the Price Comparison Service, Bionic will use its reasonable endeavours to negotiate and secure as favourable and competitive prices as possible on behalf of the Customer and will provide the Customer with any relevant Quotations obtained by the Suppliers for consideration by the Customer. Bionic and the Supplier reserve the right to revise, amend or withdraw any Quotation at any time upon informing the Customer.
4.2 The provision of any Quotation by a Supplier via Bionic does not constitute an offer to the Customer and the terms of a Quotation and duration for which any Quotation will be valid will vary depending on the Supplier. The Customer’s acceptance of a Quotation constitutes a non-revocable offer by the Customer to engage the Supplier to provide the Supplier Services and once such an offer has been made by the Customer, the Customer shall be committed to such offer and shall not be entitled to revoke the offer.
4.3 All offers made by Customers shall be subject at all times to the Supplier’s acceptance and the Supplier shall be entitled at any time to refuse to accept a Customer’s offer for any reason at the Supplier’s sole discretion. No offer placed by the Customer shall be accepted by the Supplier other than (a) by a written acknowledgement issued and executed by the Supplier, or (b) (if earlier) by the Supplier starting to provide any of the Services.
Digital Renewal Service
4.4 If the Customer opts for and Bionic agrees to provide the Digital Renewal service, Bionic will use all reasonable endeavours to secure a new Supply Contract relating to any Supply Number at the best available rates for which the customer is then eligible from Energy Suppliers featured in the Bionic Supplier Panel.
4.5 The Digital Renewal service will commence on the date the Customer signs a copy of the Digital Renewal contract and end on the date on which either the customer or Bionic terminates the agreement in accordance with the directions on the Digital Renewal Contract.
4.6 By signing the Digital Renewal contract the Customer agrees to the terms of that contract which also includes these general Bionic Terms and Conditions of Service.
4.7 The Customer then appoints Bionic to act as its exclusive agent in relation to the negotiation and execution of a new Supply Contract once the then-existing Supply Contract has reached its Digital Renewal date for that Supply Number or the first business day thereafter.
4.8 The Digital Renewal Date is one of twelve possible dates in the calendar year, with one occurring every calendar month. Bionic will select the most suitable date that provides the optimum time frame to secure your new Supply Contract. The date is stated in the Digital Renewal contract and will be confirmed to the customer when signing.
4.9 The Customer has the right to terminate the Digital Renewal Service Contract by following the directions in the Digital Renewal contract, and Bionic will take no action on the next Digital Renewal Date for any Supply Number (s) in respect of which Term of its appointment has been terminated.
4.10 Bionic will provide the Customer with updates at appropriate times to their designated email account detailing the status of the Supply Contracts, the Digital Renewal dates for each Supply Contract, and a reminder of how to revoke the Digital Renewal contract with Bionic.
4.11 The Customer undertakes to inform Bionic promptly, and not less than 5 working days prior to any relevant Digital Renewal date of the following:
4.11.1 A change of tenancy (COT) of the Customer
4.11.2 Any significant increase or decrease of electricity or gas requirements at the Customer’s premises.
4.11.3 If the Customer’s business changes hands or another party assumes financial responsibility.
4.11.4 If the Customer’s designated email address changes
4.11.5 If the Customer’s business ceases trading, or enters into any form of insolvency procedure.
Any changes should be sent to Bionic via email at doitforyou@bionic.co.uk or to our address.
4.12 In the event that a new Supply Contract does not go live for any unforeseen reason beyond Bionic’s control, the applicable Supply Number will be removed from the Digital Renewal contract, other Supply Numbers on the contract will not be affected.
4.13 Bionic may check your credit score before the contract starts, before the start of a pricing period and at other times during this contract.
4.14 Bionic promises to make it easy for customers to use the Digital Renewal service. If for whatever reason, the Customer feels Bionic has not delivered to this promise, the Customer may choose to claim against the ‘Make It Easy Guarantee’. This guarantee entitles the Customer to receive any commission earned by Bionic for that Supply Contract. The request should be sent to Bionic via email at doitforyou@bionic.co.uk or in writing to Bionic Services Ltd, 4th Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG or to such other email address or address as Bionic may from time to time notify to the Customer via the Customer’s designated email address.
Switching Service
4.15 If the Customer makes an offer based on a Quotation and if the Supplier accepts the Customer’s offer, Bionic will provide the Switching Service which will include organising the contract between the Supplier and the Customer (the “Contract”) for the supply and purchase of the Supplier Services. Bionic shall not be responsible for any delay or failure caused by any Supplier or Existing Supplier in relation to effecting any transfer.
4.16 Bionic will arrange the Contract based on the information provided by the Customer to Bionic. Prior to completion of the Contract, the Customer’s information will be confirmed by Bionic with the Customer by email, via the Call Centre or by letter. It is the Customer’s responsibility to ensure at this point that all the Customer information is true, accurate, complete, reliable and current in all respects and to inform Bionic promptly if there are any errors and/or if any amendments are required. If any of the Customer information needs to be amended or rectified, this may result in the transfer being delayed or rejected by the Supplier.
4.17 Once the Contract is in final form, Bionic will send a summary of the key terms of the Contract to the Customer. The Customer must check that all the details are correct and must inform Bionic of any errors and/or amendments within 24 hours of receipt.
4.18 If a Customer subsequently decides to not proceed with providing its custom to the Supplier in respect of which Bionic has performed the Price Comparison Service and the Switching Service, Bionic shall be entitled to charge the Customer an administration fee of £150 plus VAT (the “Contract Cancellation Administration Fee”).
4.19 The Customer agrees that within reasonable time and by no later than 15 days prior to the last day upon which notice to terminate the Contract can be served by the Customer, the Customer shall contact Bionic so as to enable Bionic to perform the Price Comparison Service again on behalf of the Customer. Bionic shall also be entitled, but not obliged to, contact the Customer for the same purpose.
4.20 The Customer acknowledges that by entering into a contract with a Supplier, the Customer will be contracting directly with the Supplier and not with Bionic. The Customer agrees that Bionic is not liable in any way in relation to any transactions, dealings or arrangements of any kind made between the Customer and any Supplier and that any such transaction, dealing or arrangements (including, without limitation, any payment obligations of the Customer thereunder) are the Customer’s sole risk and responsibility.
Contract Checking Service
4.21 If the Customer opts for and Bionic agrees to provide the Contract Checking Service, the Customer will be required to sign a Letter of Authority authorising Bionic to contact and liaise directly with the Customer’s Existing Supplier and the Customer agrees to promptly provide to Bionic all such information and assistance as Bionic may require in order to carry out the Contract Checking Service.
4.22 Upon receipt of a signed Letter of Authority Bionic will send to the Customer’s Existing Supplier a questionnaire requesting details of the key terms of the Customer’s arrangements with the Existing Supplier, including the contract end date, notice period, termination process, current prices and details of the Customer’s consumption.
4.23 Once Bionic has received a response to the questionnaire from the Existing Supplier, Bionic will use its reasonable endeavours to forward such a response to the Customer. However, Bionic shall not be responsible for any delay or failure by the Existing Supplier to respond to the questionnaire and/or to cooperate with Bionic in relation to any request Bionic may make whilst performing the Contract Checking Service.
4.24 For the avoidance of doubt, Bionic shall not be responsible for the provision of any Supplier Services.
5. Charges
5.1 Save in respect of clause 4.18 above, there is no fee due from a Customer to Bionic for providing the Services. However, Bionic reserves the right to be entitled to charge for any of the Services and/or impose charges at any time in its sole discretion, upon reasonable notification to the Customer. If the Customer does not agree to such charges, the Customer shall be entitled to opt out of receiving the Services to which it had subscribed.
5.2 Bionic is remunerated by commission from the Supplier as a result of Bionic securing and finalising the Supply Contract between the Customer and the Supplier. This commission is included in the rates Bionic arranges for the Customer and is based on the estimated consumption for the term of the Supply Contract and the commission agreement we have with the Supplier. There are no extra payments that the Customer has to pay directly to Bionic.
Some Suppliers may make additional payments to Bionic based on the size and/or profitability of its account with that Supplier or new initiatives; for instance if Bionic places more than one meter for a Customer, or arranges a certain volume of contracts and/or repeat contracts with a Supplier, that Supplier may pay Bionic more commission than for a single switch.
Additionally, Bionic may continue to receive commission from the Supplier Bionic places a Customer with after their contract has ended, but the Customer has not renewed their contract or switched elsewhere.
Bionic earns commission in order to make sure it can keep providing you with the best possible and most comprehensive service. Bionic measures the amount of commission it will earn on any one contract or meter per year in order to gain a fair return while balancing customer needs and ensure we retain trust from our Customers and maintain a competitive position in the market.
5.3 The Customer can request the amount of commission that Bionic has received as a result of arranging the Supply Contract, by emailing their Bionic Customer ID to commission@bionic.co.uk.
5.4 Any Administration Fee payable under clause 4.18 above shall be payable to Bionic by no later than 30 days from the date of the invoice for the same.
5.5 Without prejudice to Bionic’s other rights and remedies, if the Customer fails to pay when due any amount payable by it under or in connection with these Terms, it shall forthwith on demand by Bionic pay interest on the overdue amount from the due date until the date of actual payment (after as well as before judgment) at the rate of 8 per cent per annum or such percentage equivalent to the statutory rate of interest prescribed for judgments from time to time in place. In the alternative and where appropriate, Bionic reserves the right to claim interest pursuant to the Late Payment of Commercial Debts (Interest) Act 1998.
6. Customer's obligations
6.1 In addition to the Customer’s other obligations set out in these Terms, the Customer warrants, represents and undertakes:
a) to co-operate with the Supplier(s) in all matters relating to the Services including, without limitation, providing all relevant information in a timely manner as the Supplier(s) and/or Bionic may require from time to time and that all such Customer information will be true, accurate, complete, reliable and current in all respects;
b) to comply at all times with these Terms and any applicable terms and conditions imposed by a Supplier in relation to the supply of the Supplier Services;
c) that any password, user details and/or account number allocated to or created by the Customer to enable the Customer to use the Services shall be kept confidential by the Customer at all times. Bionic will be entitled to assume that any person using the Customer’s password, user details and/or account number is the Customer or someone doing so with the Customer’s permission. The Customer shall be responsible and liable for any actions of any person using the Customer’s password, user details and/or account number and shall immediately notify Bionic of any unauthorised use of the same.
7. Intellectual property rights
The Customer agrees that any and all Intellectual Property Rights in or to the Services, any information and/or materials provided the Customer, the Site and any content therein (including, without limitation, the look and feel of the Site) shall remain owned by Bionic and/or its licensors and any use or attempted use of any of the same shall constitute an infringement of Bionic’s (and/or its licensors’) Intellectual Property Rights and may expose the Customer to both civil and criminal liability.
8. Termination
8.1 Without prejudice to the foregoing and any other rights and remedies that Bionic may have, Bionic shall be entitled to terminate or suspend the Services immediately upon written notice to the Customer in the event that: (a) the Customer is in breach of any of the provisions of these Terms and that in the case of a breach capable of remedy, such breach shall not have been remedied within 7 days of the date of a written notice from Bionic to the Customer specifying such breach; or (b) Bionic suspects on reasonable grounds that the Customer may have committed or attempted to have committed any fraud against Bionic and/or any Supplier.
8.2 The Customer hereby agrees to indemnify, keep indemnified, defend and hold Bionic and its parent companies, subsidiaries, affiliates and each of their respective officers, directors, employees, owners, agents, suppliers, contractors, partners, information providers and licensors harmless from and against any and all claims, damages, liability, demands, losses, costs and expenses (including legal fees) (whether or not foreseeable or avoidable) incurred or suffered by any of such parties and any claims or legal proceedings which are brought or threatened arising out of or in connection with any use by or conduct of the Customer in relation to any of the Services, any transactions, dealings or arrangements made with any third party as a result of using the Services or any breach of any of the provisions of these Terms or of any law or the rights of any third party.
9. Limitation on Liability
9.1 Bionic will exercise all reasonable skill and care in providing the Services. However, the performance of the Services by Bionic may be dependent upon third parties (including, without limitation, Suppliers and Existing Suppliers) and Bionic is not able to guarantee or accept any responsibility for any failure or delay caused by such third parties or for any inaccurate, incomplete or unreliable information provided to the Customer by such parties via Bionic.
9.2 Bionic shall use its reasonable endeavours to ensure that all pricing information provided by Bionic to the Customer as part of the Pricing Comparison Service is accurate, current and reliable in all material respects. However, save in respect of the foregoing, Bionic does not warrant and excludes all liability in respect of the accuracy, completeness, fitness for purposes or legality of any information accessed as a result of the Customer’s use of the Services, the Site or the Call Centre or otherwise communicated by Bionic to the Customer.
9.3 Except as expressly provided in these Terms, the Services and the Site are provided on an “as is” basis without representation or warranty of any kind and to the fullest extent permissible pursuant to applicable law Bionic disclaims all other conditions, representations, statements and warranties, either express or implied (whether by common law, custom, statute or otherwise).
9.4 Subject to the foregoing, if by any mistake, act or omission of Bionic in the performance of the Services, the Customer suffers a direct financial loss as a result of such mistake, act or omission, Bionic will compensate the Customer for such direct loss on the following basis:
a) the Customer must submit any claim within 3 months of identifying the mistake, act or omission that has resulted in such direct loss and must follow Bionic’s claims process, as is more particularly set out in https://bionic.co.uk/about-bionic/complaints/
; and
b) Bionic’s total liability for all losses of whatever nature suffered by the Customer as a result of such mistake, act or omission is strictly limited to the lesser of: (i) the amount that the Customer would have saved but for Bionic’s mistake, act or omission; or (ii) the commission fee earned by Bionic from the Supplier as a result of Bionic securing and finalising the Contract between the Supplier and the Customer, which can be found by emailing the customer ID to commission@bionic.co.uk
c) Subject to clause 9.5, the Customer acknowledges and agrees that Bionic shall not be liable for:
(a) any indirect loss, claim or damage, or any punitive, special, incidental or consequential damages of any kind that are not directly associated with the Customer’s claim;
(b) any loss of profit or savings;
(c) loss or corruption of data or information;
(d) loss of contracts, business or opportunity;
(e) damage to goodwill or reputation(s); in each case whether direct or indirect and in each case whether based in contract, tort (including without limitation negligence), strict liability, or otherwise, arising out of or in connection with these Terms, the Services, the Site and/or any use thereof, in each case even if Bionic has been forewarned or is aware of the possibility of such loss or damage.
9.5 Bionic does not exclude or limit its liability (if any) in any way:
a) for death or personal injury caused by Bionic’s negligence;
b) for fraud or fraudulent misrepresentation; or
c) for any matter from which it is unlawful to exclude, or attempt to exclude, Bionic’s liability.
10. Data protection
The Customer acknowledges and agrees that details of the Customer’s name, address and payment record may be submitted to a credit reference agency, and personal data will be processed by and on behalf of the Customer in accordance with Bionic's Privacy Policy, as is more particularly set out in https://bionic.co.uk/about-bionic/privacy
The Customer also grants Bionic permission to investigate their supply details on the relevant industry databases (including but not limited to Transco, Xoserve, ECOES, Companies House, HRMC, The Charity Commission for England and Wales) in order to provide any quotation, or facilitate any contract or transfer.
11. Force majeure
Bionic shall have no liability to the Customer if it is prevented from or delayed in performing any of its obligations in relation to the provision of any of the Services, or from carrying on its business, by acts, events, omissions or accidents beyond Bionic’s reasonable control, including (without limitation) strikes, lock-outs or other industrial disputes (whether involving the workforce of Bionic or any other party), failure of a utility service or transport network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of suppliers or subcontractors, and Bionic shall be entitled to a reasonable extension of the time for performing such obligations in the event of any such occurrence.
12. No waiver
Any failure or delay by Bionic to enforce any of its rights under these Terms is not to be taken as or deemed to be a waiver of that or any other right unless Bionic acknowledges and agrees to such a waiver in writing.
13. Severability
If any clause or part of a clause of these Terms is, or becomes, invalid, illegal or unenforceable, then that clause or part of a clause shall be deemed to be deleted from these Terms. Any such deemed deletion shall not affect the validity, legality or enforceability of the remainder of these Terms.
14. Third Party Rights
Except as expressly provided in clause 8.2, the parties agree that the provisions of these Terms are personal to them and are not intended to confer any rights of enforcement on any other third party. The Contracts (Rights of Third Parties) Act 1999 shall not apply to this Contract or to any of its provisions, other than clause 8.2.
15. Transfer of rights and obligations
15.1 These Terms are binding on the Customer and Bionic and on each parties’ respective successors and assigns.
15.2 The Customer may not transfer, assign, charge or otherwise dispose of these Terms, or any of its rights or obligations arising under them, without Bionic’s prior written consent.
15.3 Bionic may at any time transfer, assign, charge, sub-contract or otherwise dispose of these Terms, or any of its rights or obligations arising under them.
16. Entire Agreement
The warranties, exclusions and other express provisions of these Terms, the Privacy Policy and the Terms of Use set out the full extent of our obligations and liabilities concerning the subject matter and supersede any previous agreements between the parties relating thereto.
17. Governing Law and Jurisdiction
These Terms are governed by the laws of England and Wales and the parties agree to submit to the non-exclusive jurisdiction of the English Courts.
Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006
Smile Topco Limited
The board of directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Group for the benefit of its members as a whole having due regard in doing so for the matters set out in section 172(1) (a) to (f) in the Companies Act 2006.
The Board is fully aware of its responsibilities to promote the success of the Group. A summary of how we deliver for our stakeholders is outlined below
After weighing up all relevant factors, the Directors consider which course of action best enables delivery of our strategy through the long-term, taking into consideration the impact on stakeholders and balancing the interests of all stakeholder groups.
| Stakeholder Group | Our Priorities | How we engage | 2020 Activities & Outcomes |
Customers Our purpose is to earn the lifetime loyalty of British businesses | We want our customers to smile when thinking about us Communicating with them on the benefits of saving money and hassle on their business essentials and being able to focus on growing their own businesses within their communities Ensuring their contracts are switched to new suppliers with minimum hassle and with excellent communication throughout | We engage with our customers every day through our voice, email and digital communications channels. We track their engagement through NPS and trustpilot feedback and review this feedback monthly to improve our services and processes We conduct regular customer forums to gain feedback on new and existing product features, benefits and pricing We explain the features and benefits of products that can enable customers to save time and money forever such as the DIFY proposition | Achieved Customer NPS consistently over 80 We continue to monitor and improve individual agent-level reporting of customer satisfaction which is factored into all sales colleagues’ performance reviews and all our remuneration schemes. Our renewal metrics remained incredibly strong and stable, with a Net Revenue Retention of over 90%. We launched “The Backbone”, our fortnightly newsletter with news and views relevant to small business owners. And we published 1,906 social posts across Twitter and Facebook, reaching a total of 547,169 feeds. |
Colleagues Our Colleagues are the heart of our business and provide excellent service to our customers day in and day out | Investing more money and time in our colleagues’ progression and development. Focus on ways of working and how we celebrate success together across the group. Bolstering two-way feedback with more surveys. | We go to exceptional lengths to engage our colleagues and create an open culture. We have a clear plan on how we recognise, reward and incentivise our colleagues, celebrating success together. We are also passionate about our Performance Culture that’s built on a formula of “Getting Better every day” and enabling our people to thrive to be the best version of themselves. | Retained our World Class accreditation with Best Companies having a 78% response rate. The majority of our leaders have been promoted internally through our development schemes. We currently have over 30 colleagues participating in our Year of the Team Leader” and “Year of the Coach” programme. |
Partners Our partners trust us to represent their brands and provide essential services for their customers | Ensuring we operate in accordance with partner agreements while providing stand out service to our shared customers Renewing customer partnerships in perpetuity for joint benefit | We perform monthly and quarterly reviews with key suppliers to track performance on shared metrics. We provide regular balanced scorecard reporting ranging from customer outcomes to financial metrics | We have proactively managed the lead volumes and our capacity through working collaboratively with our partners. We have launched our direct connectivity customer journey with a key partner. This has provided good early results in terms of conversion and customer outcomes. We have also been adding partnerships within our finance division. |
Suppliers Maintaining an engaged panel of suppliers is essential to providing our customers with the best products | Operating responsibly and ethically is vital to our long term success and we work with our suppliers to ensure the quality and appropriateness of products for our customer base and to ensure our systems and theirs align to provide both quality data flows and a quality service to our customers | We have Gold partner relationships with the majority of our key partners that uphold customer centric standards of conduct We complete due diligence and regular reviews with our suppliers generally on a monthly and quarterly basis to track performance towards shared goals | Gold supplier relationships are in place with suppliers that represent over 90% of our sold contracts Consistently receive positive feedback and are able to launch unique customer propositions with their support |
Community We give back to our communities | Supporting the community we operate in Encourage all our colleagues to volunteer for a day with either our or a charity of their choice at the Group’s expense | We partner with the Childhood Trust to alleviate the impact of child poverty We provide regular volunteering opportunities and feedback | In addition to Childhood Trust the business also supports Future Frontiers – with 24 employees enrolled on the programme, mentoring under-privileged under 16 year olds to help them through their GCSEs and to think about their career choices ahead. This has proved extremely successful and participates on all sides have benefitted greatly. Employee charitable donations are matched by the Group. |
| Regulators | We maintain regular and ongoing dialogue with key regulatory bodies including the FCA, TISE, Ofgem and others | Our Legal and Compliance team works across the Group to ensure it remains compliant with new and existing regulation. | We continue to comply with our duties under the GDPR and all relevant regulatory regimes. |
| Shareholders | We maintain regular contact with all our shareholders. Major shareholders are represented on the board where key strategic decisions are taken Good corporate governance and alignment with best practice | We provide regular updates to all share and share option holders on the performance of the group Through our fair, balanced and understandable annual accounts we communicate our financial and operational performance | We have 11 board meetings through the year covering the full breadth of governance, strategic review and operational performance management We have periodic shareholder update sessions with our share option holders |
Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006
Smile Midco 2 Limited, Smile Bidco Limited and Bionic Services Group Limited
The board of directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Group for the benefit of its members as a whole having due regard in doing so for the matters set out in section 172(1) (a) to (f) in the Companies Act 2006.
The Board is fully aware of its responsibilities to promote the success of the Group. A summary of how we deliver for our stakeholders is outlined below
After weighing up all relevant factors, the Directors consider which course of action best enables delivery of our strategy through the long-term, taking into consideration the impact on stakeholders and balancing the interests of all stakeholder groups.
Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006
Smile Midco 1 Limited
The board of directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole having due regard in doing so for the matters set out in section 172(1) (a) to (f) in the Companies Act 2006.
The Board is fully aware of its responsibilities to promote the success of the company.
After weighing up all relevant factors, the Directors consider which course of action best enables delivery of our strategy through the long-term, taking into consideration the impact on stakeholders and balancing the interests of all stakeholder groups. The majority of decisions are set at a group level, and therefore a summary of how we deliver for the Group’s stakeholders is outlined below.
Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006
Bionic Services Limited
The board of directors consider, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole having due regard in doing so for the matters set out in section 172(1) (a) to (f) in the Companies Act 2006.
The Board is fully aware of its responsibilities to promote the success of the company. A summary of how we deliver for our stakeholders is outlined below
After weighing up all relevant factors, the Directors consider which course of action best enables delivery of our strategy through the long-term, taking into consideration the impact on stakeholders and balancing the interests of all stakeholder groups.
Gender Pay Gap Reporting
At Bionic, we believe that diversity makes a business stronger and that our teams are at their best when everyone feels safe to bring their whole self to work. We continue to be committed to promoting equal opportunities for growth and development and ensuring equality of pay for all colleagues performing the same roles.
We ensure this using our sales progression salary and commission banding and structures for our sales roles, which are reviewed and updated regularly. These progression plans support our teams as they grow their career as well as providing an objective framework for all colleagues to progress equally.
Our sales roles attract more male than female applicants, and whilst we are working hard to encourage women into this exciting role, we still have a sales population that is predominantly male.
This impacts our gender pay results, in that our sales colleagues earn monthly commissions. We do have a good proportion of women across the organisation and many are in senior positions. These roles tend to be eligible for our annual bonus scheme rather than commission. The resulting impact at our snapshot date gave us a bonus gap of 42% mean and 39% median in favour of men.
It also impacted total earnings with on average men having a 10% mean gender gap and a 15% gap at the median.
Bionic is committed to attracting and retaining more women across the business, to both address this gap and to access these talented individual across our business.
We confirm that our data is accurate and has been calculated according to the requirements of The Equality Act 2010 (Gender Pay Information) Regulations 2017.
Modern Slavery Act Statement
BIONIC SERVICES GROUP - UK-ONLY POLICY
At Bionic, we exist to be the smart way for SMEs to get their business essentials sorted by tech-enabled human experts. People, both our employees and those of our suppliers are at the heart of everything we do and our commitment to those people and securing the right outcome for each of them is central to our purpose, strategy and how we operate. This is why we are committed to complying with the Modern Slavery Act.
What is the Modern Slavery Act 2015?
The Modern Slavery Act 2015 (the “Act”) seeks to address the role of businesses in preventing modern slavery from occurring in their organisations and supply chains. It applies to businesses of a certain size, which are required to publish a statement setting out the steps they have taken to ensure that modern slavery and human trafficking are not taking place in their business or supply chains.
This statement sets out the steps that we have and will continue to take as part of our ongoing commitment to keep slavery and human trafficking out of our business and our supply chains.
Bionic Services Group
Bionic Services Group Limited, trading variously as (Bionic Services, Bionic Financial Services, Think Business Finance, Business Comparison and Business Save), is the UK’s leading provider of SME energy comparison and switching services and a provider of comparison and intermediary services across of range of other business products and services. We are a private limited company operating in the UK.
Our suppliers are businesses that support our trading entities and the products we supply and/or administer whether as product/service providers, system providers and/or outsource service providers.
We have taken time to consider our services and the nature of the business we operate across all of its functional areas and we have concluded that as a group of businesses we are not directly exposed to a high risk of modern slavery and human trafficking. However, the risk of modern slavery and human trafficking may not always be obvious, and we remain, at all times, vigilant for new or emerging risks.
Accordingly, we continue to be committed to acting ethically and with integrity in all of our business relationships, and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking are not taking place anywhere in our business or supply chains.
Our Practices and Policies
We want our suppliers and contractors to support our position on modern slavery and human trafficking, and we take the steps set out below to secure this outcome:
- Set up ongoing processes to review our supply chains and carry out risk-based assessments of our suppliers
- Review the Modern Slavery and Human Trafficking Statements published by our key suppliers
- Source our goods and services in accordance with policies, standards and scrutiny designed to ensure all suppliers achieve and maintain our standards
- Where appropriate, include provisions within agreements and arrangements with our suppliers that require them to comply with the law, including applicable anti-slavery and related laws
- Made this statement publicly available on our public website and distributed it on our internal communication channels so that it can be accessed at any time by our suppliers, employees and customers
- Reviewed our internal policies to address modern slavery issues and establish accountability for the prevention and ongoing vigilance in relation to these risks at the most senior levels of our organisation
- Continuously monitor and assess our business culture and operations to ensure they meet the standards set by our regulators.
Our on-going activities
We will continue to review our internal practices and our supply chain to ensure that our approach in respect of human trafficking and modern slavery is being upheld.
During the next financial year, we aim to identify, assess and manage risks on an ongoing basis by gathering information from suppliers regarding their awareness of, and compliance with, the Act, and endeavour to ensure that appropriate contractual provisions are built into our supplier contracts.
Our General Counsel, who reports to the CFO, is responsible for overseeing the implementation of policies and procedures relating to our annual Modern Slavery and Human Trafficking Statement.
This statement is made pursuant to section 54(1) of the Act and constitutes our Slavery and Human Trafficking Statement for the financial year ending March 31, 2022. This statement is approved by the Board.
Paul Galligan
CEO, Bionic Services Group Limited