April 29, 2016

What is Costs

Our cost is the higher of (i) a flat 1.75% of the insurance company invoice value, or (ii) minimum of $80 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 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 click the ‘Free Call’ button below to call us for free

or email admin@workfinance.com.au.

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

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

Need something else? Use our Contact Us page.