Prepaid service contract company to close 31st Oct 24

Jatra

Anyone have experience of having paid a 3 year service plan only to have the company say they are closing their business at the end of October 24. They are saying they will transfer my contract to a new company that has no trading history. What if I don't want this? Its a 3 year plan, I had to pay by bank transfer when I set it up last December as they wouldn't take credit card payments over £500. The 1st of 3 services are due in December 24. I've emailed to request a refund as I would prefer to choose my provider, but I'm not sure where I stand. Any help from anyone who has experienced something similar would be appreciated.

Alderbank

Not enough information here really.

What does the 3 year contract actually say? Does it promise specific performance, ie. that a named person or company will perform the service, or simply that certain tasks will be carried out at defined intervals during the 3 years?

born_again

What exactly is the service plan for?

Jatra

It's for caravan servicing. 
The T&Cs state
Service plans cannot be transferred to any other dealership from xxxxxxxxxx,
no cash refunds are given on any service plan at any time during the policy life.

But it seems to me they are transferring it before they even complete the first of the three services.

Not sure if this means the policy hasn't even started, or if it started from the moment I paid.

Maybe I'm worrying unnecessarily?

Alderbank

Only two T&Cs?  That's unusual, especially as one of them seems to be unlawful since it is in breach of s56 of the Consumer Rights Act 2015.

...or have you cherry-picked? For us to give any useful advice you need to give a link to their full T&Cs. You can't consider them in isolation.

'...during the policy life...' means after the policy has started.

It doesn't alter their legal obligations but caravan dealers have had a very lean time over the last year or two. Large tranches of s/h vans have changed hands and some firms have gone out of business.

Your worries might be well grounded.

born_again

Jatra said:

It's for caravan servicing. 
The T&Cs state
Service plans cannot be transferred to any other dealership from xxxxxxxxxx,
no cash refunds are given on any service plan at any time during the policy life.

But it seems to me they are transferring it before they even complete the first of the three services.

Not sure if this means the policy hasn't even started, or if it started from the moment I paid.

Maybe I'm worrying unnecessarily?

So is this service plan from the manufacture of the caravan, or the dealer you bought from?

If manufacture that is good news.
If it is from dealer who are closing down. Then that is generous to move it to another dealer. Even if they have no history.
They could simply take the money & run, leaving you with nothing for the payment, other than maybe a few p in the £ if there is anything left in the pot.