Cobra Network's premium finance agreement with Close Brothers is now linked with the Bank of England and is automatically adjusted when the rates change.
This e-mail is intended to advise you that the six-month LIBOR has been above 0.10% for more than 14 days.
As specified in your contract with Close Brothers Premium Finance, the net rates applicable to your agencies will increase by 0.05% for <8 instalments and 0.15% for >9 instalments with effect from 16 April unless LIBOR moves below 0.10% in the interim.
Please note if . . .
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