OPF Limited (Our, Us,) is the premium funding company for Omni Fire & General Limited.
Invoiced policy/ies from Omni Fire & General Limited may be paid on an agreed installment basis weekly, fortnightly, monthly or by agreed alternative arrangement over the period of insurance through our premium funding company. We have set dates available for deductions and You can choose your preferred date for deductions, or We will choose a date for you.
OPF Limited will pay Omni Fire & General Limited the total amount of Your invoice (/s) prior to the expiry of the credit terms with Your Insurer.
Direct debit is the preferred method of payment to ensure Your payments are received by Us on time. Alternative methods of payment are by arrangement only.
Interest is charged on the total invoiced amount and included within your installment payments. The flat interest rate applied to your agreement will range between 8 and 10%. The rate applied to Your agreement will be decided by Us. Rates offered outside of this range will be based on account performance and relationship and the size of Your account with Omni Fire & General Limited. Any rates applied which are outside of the above range are applicable only for the term of the agreement which they are applied to and are not guaranteed to be continued on any subsequent agreement.
Occasionally, at Our discretion, We may choose to apply an administration fee to Your agreement to assist in covering Our costs. Currently, We do not apply administration charges or charge penalty interest to missed or late payments. We reserve the right to amend this stance at any time.
If You fail to meet Your obligations to make payment to Us, due to dishonoured payments or failed payments, We are required to cancel your agreement and the associated insurance policies with Omni Fire & General Limited. Our credit terms specify a maximum of 90 days outstanding. You must ensure You make an acceptable arrangement for clearing missed, failed or dishonoured payments with Us. If Your failure to meet the terms of your agreement with Us causes us a loss, We reserve the right to forward Your agreement to an independent debt collection agency at Your cost.
A schedule of payments and a finance agreement is provided to You at the inception of each agreement or on request. Wherever possible, after amendment to Your agreement at Your request (due to an amendment to your insurance policy/ies) we will provide You with a revised schedule of payments 10 days prior to your next deduction. If this time frame is not possible, We will advise you by another suitable method of Your next payment amount (by email, fax or verbally).
We reserve the right to decline to provide premium funding to any client at Our own discretion.