Settlements

Documentation Requirements

As part of your approval there may be other conditions added by our Credit Team.

We recommend that all non-standard approval conditions be signed off prior to settlement to avoid unnecessary delays.

Standard approval conditions

	Copy of tax invoice from a verified supplier.
	Contracts and documentation to be executed in full – available for download from the “Documents” tab in MacLease.

Contract consistency and execution checks

To ensure the client has reviewed and signed the documents in their entirety, a full copy of the signed contract document must be provided.

Please ensure the contract documentation meets the following requirements:

	All pages have been provided in a consistent format (a combination of photos and scanned contract documents won’t be accepted for settlement).
	Clearly legible when viewed at full size with the ELN/Application ID and a consistent version number visible across all pages.
	Documents must be dated within 90 days of the settlement date.
	Contract is signed correctly by all relevant parties.
	Company borrower, the contract must be signed by either: Any Two Directors and/or Secretary where there are more than 2 Directors of the Company Both Directors where there are 2 Directors of the Company A Director and the Company secretary (If Company Secretary is different to the Director) The Sole Director (if no Company Secretary or if Director is also the Company Secretary).

Invoice Requirements

Please ensure the below requirements are met and the relevant details match our systems and the contract documents exactly:

Supplier Tax Invoice

	Must state tax invoice (a tax invoice that indicates it’s not the ‘final’ invoice, such as a contract of sale or a proforma invoice, will not be acceptable for settlement)
	Invoice date – can’t be older than 90 days at time of settlement (if the invoice date is greater than 15 business days, please confirm if the applicant has possession of the asset vehicle and when this occurred)
	Supplier name and physical address
	Supplier ABN
	Invoice to: applicant name and address (Consumer Loan and Chattel Mortgage) or Macquarie Leasing (Novated Lease)
	Delivery to: applicant name and address
	Full vehicle description including make, model and year of manufacture
	Condition of the vehicle – new/used/demo (odometer reading if used/demo)
	VIN and engine number
	For new vehicles, on roads must be itemised
	Balance payable including asset vehicle cost and GST and deposit/trade-in/payout itemised
	Intangible products including but not limited to Insurance, Warranty, Membership and Service Plan products are not accepted
	Banking details – account name, BSB and account number.

Brokerage and Origination Fee Invoice

	Invoice date
	ABN
	Company name
	Invoice to: applicant name (consumer) or Macquarie Leasing (commercial)
	Brokerage amount $ (including GST)
	Reference to the applicant or ELN
	Banking details – account name, BSB and account number
Note an invoice isn’t required for indicative commission as this will be paid in bulk at month end.

Vendor Invoice (Private Sale only) where the vendor is an Individual

	Invoice date – within 90 days at time of settlement (If invoice date is greater than 15 business days, please confirm if the applicant has possession of the vehicle and when this occurred)
	Vendor name and physical address
	Invoice to: applicant name and address (Consumer Loan and Chattel Mortgage) or Macquarie Leasing (Novated Lease)
	Delivery to: applicant name and address
	Full vehicle description including make, model and year of manufacture
	Condition of the vehicle – must state used & odometer reading
	VIN and engine number
	Vehicle cost (no GST)
	Disbursement instructions – directions to pay funds to the vendor’s bank account or financier if encumbered. Funds may be split between both if the vehicle cost exceeds the payout amount – where this is the case, ensure the disbursement amounts are itemised correctly
	Banking details – account name, BSB and account number.

Vendor Tax Invoice (Private Sale only) where the vendor is an ABN holder/Company Entity

As stated in Vendor Invoice (Private Sale only), plus:

	Must state Tax Invoice
	ABN (registered for GST)
	GST must be itemised
	Vendor ABN.

Private Sale Requirements

Vehicle inspections

	An inspection will verify the vehicle details only (this doesn’t constitute a mechanical inspection) and requires a photo of the front, rear and side of the vehicle (with registration plate visible)
	All vehicle inspections must be completed by our Macquarie approved inspection provider.

Please use the unique Macquarie link:

	DoxAI (formerly Verimoto) – digital inspection Order Digital Vehicle Inspection
	Redbook – physical inspection only Order Physical Vehicle Inspection

For alternative inspection options please reach out to the team.

Applies to all private sales, sale and lease/loanback or refinance of residual/balloons or where the supplier doesn’t meet our verification process.

Registration papers

To be supplied to our settlements team as part of your settlement pack and must be dated within the last 12 months.

PPSR

We will require PPSR priority, and that the vehicle is not a repairable write-off or stolen.

For non-individual vendors, there may be further PPSR requirements such as obtaining waivers from other secured parties.

Vendor bank verification

Unless 100% of funds are being disbursed to a financier in a Private Sale, a bank statement or deposit slip is required to verify the banking details of the vendor.

This must include:

	Account name, BSB and account number – this must correspond to the vendor details and direction to pay on the invoice
	A bank logo
	Statement period that is within three months.

Payout letter

A payout letter is required where the vehicle is currently encumbered to another financier. This facilitates the payment of the vehicle in full so the competing security interest can be lifted. The document must include:

	The name of the vendor (private sale scenario) or applicant (refinance – other scenario)
	Description of the vehicle – this must match our vehicle description including at minimum one identifier
	Current, active payout amount – the expiry date cannot be in the past. An updated payout letter will be required.
	A clause stating that any encumbrance will be removed upon receipt of funds
	EFT bank details – account name, BSB and account number.

Settlements checklist

A tailored checklist is available for download in the Origination portal. Please generate a copy each time you are preparing a settlement so it can guide you on the specific requirements of each application to ensure a smooth experience.

Insurance

A Certificate of Currency is required where the net amount financed exceeds $100,000.00. The document must include:

	Insurance underwriter & policy number
	The period of cover for the policy – this must be current at the time of settlement
	The insured party – this must match our applicant
	Description of the insured goods – this must match our vehicle description including at minimum one identifier
	The interested party in the name of Macquarie Leasing Pty Ltd or Macquarie Bank Ltd.

Emailing settlement documents

Scanned copies of settlement documents are required to be sent via email. Only one set of settlement documents per email is accepted. This includes all contract and ancillary documents, invoices, payslips and payout letters.

All settlement documents must be emailed to: leasingsettlements@macquarie.com.

The following details must be included in the subject line of the email:

	Client name
	Application ID number (i.e. ELN).

Please ensure the application is in ‘approved’ status in Maclease when this is emailed. Applications that are still in progress or amended will not trigger a notification for our team to commence reviewing your documents and may create delays.

E-signature document requirements

We accept electronically signed loan contract documents for the following products:

chattel mortgages
novated leases

Please follow the below instructions to start using e-signatures for your clients.

Step 1: Use our approved e-signature providers

To submit an e-signed loan contract, make sure you use one of our approved platforms, listed below:

DocuSign
AdobeSign
OneSpan
Iress
Conga.

Step 2: Prepare your documents for e-signatures

To avoid any delays, when you’re preparing your document for an e-signature, please keep the following in mind:

We recommend you create templates for the product and applicant structures you commonly originate and the number of parties signing. This pre-sets the tagging locations where the party signing must put their electronic signature, date, and other details as required. This includes prompting an initial at the bottom of each page of the contract documents. Alternatively, you may manually tag each time. This will ensure that all parties required to execute the document (as per a wet-sign process) are prompted to the right location in the contract.
Two-factor authentication (2FA) is required for all parties signing the loan contract document. This is to protect the security of our clients’ details. Contracts must be issued using the same email and phone number that is established in MacLease – this will be validated by the Macquarie settlements team.

Note: there are some additional things to bear in mind depending on product:

Chattel mortgages:

A company secretary is unable to execute contracts via e-sign for a chattel mortgage company application as these details are not stored in MacLease.
A single director company where the director is not the company secretary will require wet signature to conform with section 127 of the Corporations Act 2001 (Cth) Accordingly, these contract documents must be wet signed.

Novated leases:

2FA is not a requirement for the employer, nor the witness to the employer’s signature where a deed of novation is used.
For government employers that still use a Deed of Novation in lieu of a Novation Agreement, we can also accept these being electronically signed where that government department is based in Victoria, New South Wales or Queensland. Due to legislative requirements, we’re currently unable to accept an e-signed Deed of Novation from all other remaining states.

Step 3: Returning your documents

When returning your documents to us, please ensure:

All e-signed contracts are returned in the one packet. We can’t accept a combination of e-signed contract document pages and wet-signed contract document pages.
All e-signed contracts must be accompanied by an audit certificate or certificate of completion from the approved provider. This is what we will use to validate the 2FA details.
Continue to collate all other supporting documents (such as dealer tax invoices, origination invoices etc) and send these together in one email to leasingsettlements@macquarie.com.

Clients can continue to wet-sign documents, however we encourage you to e-sign documents where possible as it’s a quicker and more convenient way to send documents to us.