CREDIT GUIDE AND PRIVACY FORM

Credit Assistance Provider
Fuel Asset Finance
ABN: 69629901079, ACL:515914
L1, 15 Lissner Street
Toowong, QLD, 4066
E: admin@fuelassetfinance.com.au
P: 1300936660

About this Credit Guide

This Credit Guide sets out important information to help you decide whether to accept our assistance in obtaining a credit contract or consumer lease

THIS CREDIT GUIDE WILL TELL YOU

  • Who we are & how to contact us;
  • Engagement & Conditions;
  • Fees & Commissions;
  • Referrers & Referral Fees;
  • Our Responsible Lending obligations;
  • Credit Providers we conduct consumer credit business with; and
  • What to do if you have a complaint.

We are required to provide this Credit Guide to you as soon as practicable after it becomes apparent we are likely to provide credit assistance to you.

WE PROVIDE “CREDIT ASSISTANCE” WHEN WE

  • Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
  • Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
  • Suggest you remain in a particular credit contract with a particular credit provider.

ENGAGEMENT AND CONDITIONS

You (the customer) engage us (the broker) to arrange a loan on your behalf. You acknowledge that we act as an independent contractor to assist you to obtain and negotiate a loan, and that we have advised you to obtain your own independent legal and financial advice regarding the suitability of any loan.

FEES PAYABLE BY YOU

We sometimes charge a fee for our services. More details about any fees payable will be detailed in a “Quote” we will give you before a finance application is lodged. No commission is payable by you to us, this is paid by the credit provider.

How we and our Authorized Credit Representative are paid

We are paid commissions by Credit Providers for introducing customers. The Credit Providers we deal with will usually pay a commission based on:

  • the size of the loan; and
  • the particular loan product you have selected.

We only receive a commission if your loan is settled and is paid to us either directly by the lender, or paid to us by our aggregator. We may receive the following commissions after we provide credit assistance and your loan has settled.

TYPE OF COMMISSION

Commission/Brokerage. (Paid shortly after settlement)

Range from 0% to 10% depending on type of finance sought.

Volume Bonus

Range 0% to 2.5% depending on aggregate of volume introduced to a Credit Provider over a monthly period. The amount of this additional commission cannot be determined at the time of loan settlement

Method of Calculation

ion Based on Net amount financed plus GST

If you would like a detailed estimate of how much commission we would be paid by a particular credit provider, we will provide this to you.

REFERRERS AND REFERRAL FEES

n some cases, your business may have been referred to us by non- regulated third parties such as accountants, financial planners, motor resellers etc. Where this is the case, we may pay a referral fee to these parties. If we do pay a fee to these parties, then

  • They should already have told you about this; and
  • We will either disclose the fee or a reasonable estimate in our Proposal Disclosure Document.

Alternatively, if you want to know, you can ask about the fee and we will tell you how much was paid and how it was worked out.

PRELIMINARY ASSESSMENT

What we will need from you:

When we provide you with credit assistance, we must only recommend credit products that are not unsuitable for you. To be able to determine which loan products are not unsuitable, we are required to complete a Preliminary Assessment. When we make this preliminary assessment, we determine:

  • your requirements and objectives – that is, what kind of loan do you want, and for what purpose;
  • your financial and relevant personal situation; and
  • your ability to repay the loan that you are considering

In assessing these factors, we are also required to take reasonable steps to verify some of the information you provide us.

This verification may include:

  • asking you for copies of documents that demonstrate your financial situation – in some cases we may also need to sight original documents; and
  • contacting third parties to assist in verifying the information that you provide.

Obtaining a copy of your Preliminary Assessment:

If we haven’t already provided it to you, you may request a copy of our Preliminary Assessment, and we must give you a copy of it:

  • at any time during the first 2 of years of conduction the assessment, within 7 business days; or
  • between 2 years and 7 years after it was conducted we must provide it within 21 business days.

There is no charge for requesting or receiving a copy of the Preliminary Assessment

FINANCIAL HARDSHIP

It is important to us that the new credit commitment remains affordable to you but understand those situations can change. In the event that you find yourself in financial difficulty we ask that you let us know so we can assist you in contacting the credit provider to discuss alternate options.

OUR “CONSUMER” CREDIT PROVIDERS INCLUDE:

We source credit products from a range of banks, lenders and other credit providers. However, at present, we write a greater percentage of loans with the following banks, lenders and other credit providers. These Lenders do not necessarily represent all the lenders who offer credit of the nature you seek.

  • Latitude Personal Finance
  • Australian Motorcycle & Marine Finance
  • Liberty Financial
  • Macquarie Leasing Pty Ltd
  • Pepper Asset Finance Pty Ltd
  • St George Equipment Finance Limited

DISPUTE RESOLUTION AND COMPLAINTS

We are committed to providing you with the best possible service, however we understand there may be times where you are not satisfied.If this occurs please inform us verbally or in writing with the exact details of your complaint, so we can work towards a prompt and fair resolution.

If we are unable to reach a satisfactory resolution, you can make a complaint in writing to the Australian Credit Licence holder, Connective Credit Services. With regards to complaints resolution, we are mindful of the need to ensure that consumers are treated fairly and with respect during the complaints handling process. Any dis-satisfaction with a credit representative operating under the licence will be handled in an efficient, timely and effective manner in accordance with ASIC regulations of Internal Dispute Resolution (IDR).

Details are:
Attention: Compliance and Complaints Handling Officer
Phone:
Email:
Mail: null 3/12 Navigator Place, Hendra, QLD, , null

We hope that you will be satisfied with how we deal with your complaint. However, if your concerns remain unresolved, or you have not heard from us within45 days, then you can have your complaint heard by an independent party. The complaint can be lodged with the Australian Financial Complaints Authority(AFCA):
Phone: 1800931678 (freecall)
Email: info@afca.org.au
Website: www.afca.org.au
Mail: Australian Financial Complaints Authority, GPOBox3, Melbourne VIC 3001

Time limits may apply to complain to AFCA and so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.