The contract was the revised packaged, with a bond for FI of over £16,350....
How can a bond POSSIBLY be for more than the value of the course they're providing? I can only assume that they aren't aware that you've already got the fATPL. If I were you, as has been said already, I'd get the £7k together for the FIC and do it elsewhere, then offer yourself to Cabair (or anywhere else for that matter) as a FI(R) with no strings attached.
There is one advantage, I guess, in doing the FIC with Cabiar, in that you become familiar with the Company way of doing things, instructing-wise.
Cheers,
TheOddOne