About

Brokers can set up an import budget, upload invoices and initiate payments. Progress payments are approved by the customer, and multiple invoices can be funded under the same facility.

To get started, log into Shift Connect, select your customer, apply for Equipment Line and then select the ‘+New import’ button. View more detailed instructions here.

The key benefits include:

• The ability to finance the asset and all costs associated with the import.
• The ability to pay a deposit and make progress payments.
• A digital experience, with minimal documentation and checks required.
• No establishment fees and no repayments for the first 120 days while waiting for assets to arrive, followed by a 5-year repayment term on a Chattel Mortgage.
• Access to funds for purchases from over 50 countries, with competitive exchange rates.

Any business that meets Shift’s standard lending and credit criteria for Equipment Line and/or Chattel Mortgage can use our Asset Import feature. Funding is available from $10,000 to $1 million.

All Primary, Secondary and Tertiary assets can be considered. The facility also supports staged domestic payments on locally built assets.

Imports from certain high-risk or sanctioned countries are not supported. Please refer to your BDM for a full list of restrictions.

It’s ultimately the customers responsibility to perform their own due diligence prior to agreeing and signing terms with any supplier. Shift provides finance and facilitating payment on behalf of your customer only. Shift is not responsible for the asset, its delivery, or its condition - this responsibility remains between the supplier and the customer.

Marine/transit insurance is strongly recommended for imports. Domestic assets should be insured appropriately. The customer is responsible for insuring the asset. We recommend brokers ensure that their client has insurance in place prior to the first payment being made. This insurance should be held with a reputable insurer ands note Shift’s interest as the lender.

The insurance should also cover goods in transit, including:

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

All customer payments are deferred for up to 120 days during the asset import phase. Standard Equipment Line rates apply to the asset import, please view the Broker Product Guide for further information.

Brokers can upload invoices and make progress payment claims via Shift Connect. Your customers will receive notifications at each stage. All payments will require approval by customers via Shift Online.

For primary and secondary assets, commissions are paid when the asset converts to Asset Finance. For tertiary assets, commissions are paid on every invoice uploaded and paid.

Once the asset arrives in Australia or the local build is completed, the facility may transition to an Asset Finance Chattel Mortgage, depending on the asset type. Evidence of asset arrival to Australia and customs clearance is required. Assets deemed Tertiary or not eligible for Chattel Mortgage will remain on the Equipment Line.

Brokers should notify Shift approximately 30 days before the expected arrival date so conversion can be planned.

View more detailed instructions here.