It costs you less than you’d think.

Our cost is the higher of (i) a flat 1.75% of the insurance company invoice value, or (ii) minimum of $45 per invoice. We deduct this fee out of the cash we send you for the purchase of the invoices.

• Each time you use our service, you must send us the original invoice addressed to the insurance company; the “Repair Authority” from the insurance company authorising your business to do the repair work; a copy of the original quote as adjusted by the Assessor; a copy of invoices for sublet repairs; a copy of the signed release from the insured customer accepting completion of repairs (if required by Insurer).
   
• If after 50 days the insurance company has not fully paid us for your invoice and some portion of the cash that we paid you is still outstanding, then you may be required to make up this shortfall plus our discounting fee by repurchasing the invoice from us. Late payment interest will apply if you delay in making this payment. You must still pay the discounting fee because you have had the use of our funds for 50 days.
   
• If the insurance company pays us less than the full value of the invoice, then you must pay us the outstanding residual. This can be done by giving us some more invoices to factor and we take the residual off the amount otherwise due to you. It is your decision whether to chase the insurer for the outstanding residual or not.
   
• We only factor invoices where a clear Insurance Company “Authority to Repair” has been issued.
   
• Delays in receiving your cash will occur if, you fax us incomplete or unsigned documentation. Missing sublet invoices or Insurance Company “Authority to Repair” forms, or no copies of the adjusted quote/estimate, will also cause delays in the process.

We are here to help you – if you need more information or advice, please call us on 02 9968 2328 or email help@workfinance.com.au.

All original documentation must be posted to:
Working Capital Finance Pty Ltd
PO BOX 84
Mosman, NSW 2088

By courier:
Working Capital Finance Pty Ltd
Unit 2, 836 Military Road
Mosman, NSW 2088
 

(*An additional fee applies for this service. Call us for details)