T W White And Sons > Suzuki > Business > Credit Policy

Suzuki Contract Hire Credit Policy

Arval fund Suzuki Contract Hire vehicles in partnership with Suzuki GB.

Credit Policy - Business Contract Hire

The policy covers Contract Hire credit proposals up to £150,000 credit limit. Above this value, customers will be considered individually.

Credit proposals over £150,000 are subject to a full credt review and additional information may be required.

The policy assumes that all mandatory information fields are completed when proposing a customer.

The policy confirms general information and any other mandatory information that should be provided to Arval before the proposal can be considered.

New Businesses trading less than two years

Limited Companies:

Mandatory nine months rentals in advance will be required. These are to be paid before vehicle delivery
Most recent three months business bank statements are to be provided. Overdraft limit to be demonstrated if applicable
Last set of accounts is to be provided if the company has recently changed trading style e.g. was a sole trader but has become a Limited company

Non Limited Companies:

Mandatory nine months rentals in advance will be required. These are to be paid before vehicle delivery
New customers must provide most recent three months business bank statements and/or latest accounts. Overdraft limit to be demonstrated if applicable
Consent to complete a credit search must have been obtained from proprietor / all partners (Professional partnerships with multiple partners – two to agree is acceptable)

Exceptions:

New limited company originated from partnership / sole trader (require last company accounts)
Subsidiary of more established group
If accounts filed at Companies House

Business trading for two years or more

Non Limited Companies:

Most recent three months business bank statements and/or accounts (both if possible)

Limited Companies:

Exceptions:

Charities and Housing Associations may be referred where no financials are available
Government organisations will be automatically approved providing ownership can be confirmed

High Value Vehicles to New Customers

Applies where the On The Road Cost is £30,000 or higher
Require three months business bank statements
Require accountant’s name, address and telephone number. Accountant will be called to confirm customer is a client of theirs and they must be registered with CIMA, ACCA or FSA

High Value Vehicles to Existing Customers

Applies where the On The Road Cost is £30,000 or higher
Must be referred for credit approval prior to order regardless of whether existing credit limits apply

Taxi and Chauffeur Firms

Multi User – (“courtesy car” business)

All proposals for multi-user purposes must be declared
Proposals or orders for a number of vehicles of the same type or on short terms must have their proposed usage explained
Latest audited accounts to be supplied
Most recent three months business bank statements and most recent management accounts where available to be supplied
Quotation reviewed internally by Arval

Payment Terms

Security

If conditionally approved by Credit subject to six or nine months rental in advance, payment must be paid by direct debit to Arval prior to vehicle delivery
Where customer chooses above payment profile and there are no credit issues (e.g. government) then Initial Invoice is collected as normal by Direct Debit after vehicle delivery
For deals conditionally approved by Credit, terms must reflect a terminal pause profile e.g. 9 + 27
Director and parental guarantees will be offered by exception

Service Levels

Up to £50,000 credit limit is six hours
Between £50,001 and £250,000 is two working days
Between £250,000 and £500,000 is three working days
Greater than £500,000 is five working days
The service level is based on an aggregation of credit limits (includes any existing credit limit the customer may have with Arval) and starts when all required information is received by Arval