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1.     Complete Insurance Company Application.

2.     Create APFC Premium Finance Agreement using our Quotes Software.

Use our APFC Quotes Software to create and calculate the premium finance agreement.

For Commercial Policies, you must break down the pure premium from all Taxes and Fees.  We do not finance any taxes or fees.  The software will calculate the required down payment.

3.      Print the Finance Agreement.

Have the Insured sign the Finance Agreement.

Collect the appropriate Down Payment from Insured in cash. 

4.     Print an APFC Funding Draft payable to the insurance company.

For Personal Policies the software calculates the amount of the funding draft.  On Commercial Policies no funding draft is necessary, as we will fund the policy upon receipt of the policy Invoice or Declarations Page.

 5.     Transmit the finance agreement to APFC from the Quotes Software.

6.   Send a copy of Premium Finance Agreement along with the APFC Funding Draft
(if you issued a draft) and your Agency Check for the Down Payment amount attached to the Insurance Company Application to the insurance company.  

7.     Give the Insured a copy of Premium Finance Agreement and First Payment Coupon.

8.     Retain the original signed Premium Finance Agreement and the Draft stubs for your records.

9.    Upon receipt of the Premium Finance Agreement, APFC will mail to the Insured a letter and Coupon Book advising the insured that the premium is being financed and where and when to send payments to APFC.

10.  Upon receipt of the Declarations Page or Invoice from the insurance Company, the Agent must fax the Invoice or Declarations Page to APFC at 800-662-8854.   

APFC will fund any balance of the amount financed to the insurance company upon receipt of the Invoice or Declarations Page.  Please review the Declarations Page to determine if there is an uprate to the quoted premium.  If there is an uprate, the agent must contact the insured and arrange for payment and or financing of the additional premium amount.  See our Additional Premium Procedures for details.

Review all Declaration Pages or Premium Billing Notices from the insurance carrier.  If the premium is greater than the premium written on the original finance agreement, any greater amount is treated as an Additional Premium. 

In cases of Additional Premiums, follow our Additional Premium Procedures.  You must contact the Insured and get him or her to bring you the new down payment required on the uprate and have them sign an Additional Premium Finance Agreement.