Collecting acceptable documents
It’s important that only acceptable documents are provided to us when submitting a settlement-ready contract.
This information will help you prepare the documentation correctly.
The following outlines the standard conditions that must be satisfied at settlement:
- copy of tax invoice from a satisfactory supplier
- contracts and documentation to be executed in full – available for download from the Documents tab in MacLease.
There may be other conditions manually added by the Credit Team. We recommend that all non-standard approval conditions be signed off prior to settlement to avoid unnecessary delays.
Tax File Numbers
Please ensure that all Tax File Numbers (TFNs) are redacted on any documents received from the customer. Doing so will ensure minimal delays during the settlement process.
Contract consistency and execution checks
To ensure the customer has reviewed and signed the documents in their entirety, a full copy of the signed contract document, not just the signed pages, must be provided.
All contract documents are reviewed to ensure a contract is ready for settlement. As part of the settlement review process, the following verifications are undertaken to ensure documents are:
- signed correctly by all relevant parties with wet ink – we don’t accept electronic signatures
- where the borrower is a company, the contract must be signed by either:
1. two directors
2. a director and the company secretary
3. the sole director and company secretary.
- documents can’t be older than 90 days at time of settlement
- free from any handwritten amendments to the documents
- complete and 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 Application ID and a consistent version number visible across all pages.