The key elements of “Your Commission Now” are:

• ALF will advance clients up to 90% of the commissions they are due once a sale becomes unconditional;
• Prior to any advance being made the deposit paid by the purchaser must be held in a trust account and be forfeitable if the purchaser does not proceed with the contract;
• The maximum settlement time in any contract that ALF will advance funds against will be 90 days;
• If the client is an employee the advance will be calculated having reference to the amount of tax to be withheld by the client’s employer;
• The client will assign their rights to the commission to ALF and the payer must acknowledge the assignment of the commission;
• ALF will be paid the full commission due directly from the solicitor at settlement or the client’s employer or aggregator;
• ALF will then retain from the commission the amount originally advanced plus ALF’s fee and pay the client any surplus;
• There is no limit to the number of commissions you can use Your Commission Now for and individual brokers or agencies can use Your Commission Now;
• Fees paid for using Your Commission Now are normally tax deductible if you use the cash for predominantly business or investment related purposes.  Of course, you need to confirm this with your adviser in light of your individual circumstances;
• Unlike the banks, Your Commission Now is not constrained by restrictive lending criteria such as the length of time you’ve been in business, your financial results or ability to service a loan. Even if you’ve had credit problems in the past, you can use Your Commission Now to improve your cash flow as we consider what you’re doing today and in the future to be more important than the past.  We understand the challenges of earning an income based on commission and have designed Your Commission Now as a faster, easier and much more accessible alternative to traditional bank loans or credit cards;
• If you find that you suddenly have enough cash and want to terminate your Your Commission Now arrangements, repay the cash we gave you and the rights to your commission will be transferred back to you, less the minimum fee we charge;
• Prior to your first use of Your Commission Now we will conduct a credit check to make sure there are no other financiers or creditors that may have security over your income but if that’s not the case, you can use Your Commission Now at the same time as leaving in place any other loans you have with your bank or finance company;
• We have a strict privacy policy and your use of our service is never disclosed to the other parties involved in the sale transaction, apart from the payer or your employer who needs to acknowledge that your commission should be paid to us on settlement;
• In much the same way as a loan, the advance you receive from Your Commission Now is repayable if the sale transaction doesn’t settle for some unforseen reason, however we know from experience that around 97% of sales transactions settle after they become unconditional.  If your sale doesn’t settle for some reason, you can always assign a different commission to us to cover the initial advance;
• Most of our processes and management are conducted through our secure website.  You’ll be given a password for access to your personal account that allows you to monitor your account 24 hours a day, seven days a week.  Once your set up as an online client, you can even arrange new advances through the website.