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Premium Finance Procedure |
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- CREATE THE FINANCE AGREEMENT
Use the APFC Quotes Software to
create the Premium Finance Agreement.
Print the Finance Agreement and First Payment Coupon and then print
Funding Draft if desired.
Obtain the signature of the Insured on the Finance Agreement.
- COLLECT THE REQUIRED DOWN PAYMENT
FROM THE CUSTOMER
Collect the full Down Payment stated
on the Finance Agreement from the customer.
- SEND THE FINANCE AGREEMENT TO
APFC
Send the Finance Agreement to APFC
via the Internet.
If you DID NOT USE the Electronic Signature feature - you must MAIL
or FAX
to 800-662-8854 the Original Finance Agreement to APFC.
If you used the Electronic Signature feature - DO NOT mail the
Original Finance Agreement.
- MAIL THE FINANCE AGREEMENT AND
DOWN PAYMENT TO THE INSURANCE COMPANY
Mail a copy of the signed Finance
Agreement and the Down Payment to the Insurance Company or General
Agent. If the Insurance Company
allows your agency to retain your Commission, send the full Down
Payment less your Commission.
- FAX THE DECLARATIONS PAGE TO APFC
Upon receipt of the Declarations
Page or Invoice from the Insurance Company, fax that document to APFC at
800-662-8854. If your agency did not issue a Funding Draft, APFC will fund the policy after receipt of
the Declarations Page or Invoice where the premium information
matches the Finance Agreement.
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