How to import an asset

1. Log into Shift Connect and submit an ‘Application to Credit’ for an Equipment Line
2. State the purpose is for an imported asset
3. Upload a copy of the supplier quote or invoice

1. Log into Shift Online and sign the ‘Equipment Line - Finance Loan Agreement’.

Broker action:

Once the Equipment Line facility is active, create an ‘Import Budget’ in Shift Connect and enter:

1. Equipment cost (currency and amount)
2. Other import related costs if applicable (e.g. Marine cargo insurance and freight)
3. Asset type
4. Asset country location

Upload a copy of the proforma invoice, ensuring it includes:

1. Customer's full name and address
2. Supplier's full name, address and contact number
3. Supplier's bank details:

• • Bank name and address
  • Account number
  • SWIFT code

4. Details of any progress payments (if required)

The Shift team will then review the Import Budget and Proforma Invoice and establish the import limit (typically within 24 to 48 hours). We will notify you once established.

Broker action:

Please call your customer and ask them to log into Shift Online to review and accept the Import Budget.

Customer action:

Review and accept ‘Import Terms’ in Shift Online. Once done, the import facility is established.

1. Cover goods in transit, including:

• • Loss at sea
  • Damage in transit
  • Theft
  • Container damage
  • General average claims

2. Be held with a reputable insurer
3. Note Shift’s interest as lender

Broker action:

1. Enter the payment details require into Shift Connect (if requesting a partial payment such as a deposit, only enter the amount to be paid)
2. Upload the supplier invoice into Shift Connect

Customer action:

Log into Shift Online and review that the payment details are correct and authorise the payment.

The Shift team will then review and process the payment (typically within 48 hours). Once paid, we will issue a payment confirmation.

After the asset has arrived in Australia and has been delivered to the customer’s premises, the following occurs.

Primary and secondary assets

• The Shift team will refinance from the ‘Equipment Line – Import Product’ into a ‘Chattel Mortgage’.
• Commission is paid at conversion, when the import facility is refinanced into a Chattel Mortgage.

Broker action:

1. Please contact your BDM to confirm the Term, Rate and Commission.

Required documentation (post-arrival) – only if converting to Chattel Mortgage

2. Please obtain the following and provide to Shift:

• • Customs clearance certificate
  • Photos of the asset (clearly showing serial numbers)
  • Certificate of Currency (Required for settlement of the Asset Finance contract)
  • Documentation confirming asset description and serial numbers, this may include:
    • Bill of Lading
    • Manufacturer’s Certificate
    • Packing List
    • Pre-Shipment Inspection Certificate

Tertiary assets

• No additional documentation is required post-arrival.
• Asset remains within the Equipment Line facility on a 60/Nil Chattel Mortgage structure. Please contact your BDM to confirm the term, rate and commission.
• Commission is paid progressively, on each supplier payment made under the import facility.