DISBURSEMENT FUNDING Lending Process Summary CONFIDENTIAL www.medlee.com.au.

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Presentation transcript:

DISBURSEMENT FUNDING Lending Process Summary CONFIDENTIAL

LENDING PROCESS SUMMARY New Loans Payments into Firm Trust Acc. Reconciliation Loan Maintenance Loan Closure

NEW LOANS PROCESS Client discussion Solicitor discussion with new client Medlee brochure provided Client informed that further information is available on website Application Lawyer / PA completes online application on medlee intranet (secure login for client law firm) Decide total credit limit Decide initial drawdown Drivers licence photocopied (back & front) & attached Contract 1 page application (produced via intranet lodgment) attached to pro forma credit contract Loan documents provided to client Includes credit guide & contract general conditions Client signs contract & authority* Loan documents scanned and ed to Medlee * Authority to firm for claim settlement funds to be held on trust for repayment of Medlee loan

LENDING PROCESS Payments to firm Payments made by Medlee into Firm trust account Reconciliation Periodic reconciliation with firm Loan maintenance Loan statements sent to client and lawyer quarterly Medlee may request periodic updates on case status Loan closure Firm advise case completing Medlee advise loan payout Loan repaid Loan closed

KEY DOCUMENTS Application Credit contract Authority* General terms Firm guarantee *to firm to hold claim proceeds on trust for repayment of Medlee loan