Credit application

Please complete this form if you wish to apply for credit with us for either the Personal Property Securities Register (PPSR) or bankruptcy-related matters.

Before filling out the form please read AFSA credit application: note on practice below.

Annual General Purpose financial reports or Business Activity Statements for the past 12 months should be sent with applications for credit with AFSA.


The AFSA Credit Application:

  • requires applicants (with some exemptions) to include details of trade supply referees
  • includes a term that permits us to seek personal guarantees from directors and other officers of corporate customers.

Some applicants and potential applicants have argued those requirements are neither necessary or appropriate for their financial situation.

This note sets out our position in relation to those requirements.

In addition, some applicants and potential applicants have raised questions about the operation of other clauses. This note also sets out our approach to application and interpretation of certain other clauses.

Note on referee information and personal guarantee

The AFSA credit application form is designed to cater to a wide range of applicants, from individuals and small businesses through to large corporations.

The form notes that trade supply referee information is not required to be included on application forms of approved deposit-taking institutions or Government agencies. We may reject applications from other entities that do not include referee details. However, applicants whose sound financial standing can be readily ascertained by other means (for example, through published audited financial statements) may choose not to include referee details and such applications will not necessarily be rejected. Applicants should note that we may seek financial reports and other information to assist in assessing the application in appropriate cases.

We will not seek to obtain personal guarantees from officeholders of corporate applicants that we consider will pose no material credit risk. Accordingly, officeholders of entities that have clearly established sound financial standing (for example, approved deposit-taking institutions) will not be required to provide personal guarantees.

Note on clauses regarding variations (clauses 1 and 21)

Clause 1 includes an acknowledgment by the Customer that the terms and conditions may be varied by us. Clause 1 should be read in conjunction with to clause 21, which provides for how we may vary the terms and conditions (for example, by agreement or complying with notice requirements).

Note on indemnity clause (clause 6)

Clause 6 includes an indemnity in favour of us ‘…in respect of any loss, injury or damage arising out of any breach of these terms and conditions by the Customer or any negligent act or omission by the Customer …’ The reference to ‘any negligent act or omission by the Customer’ should be read in the context of the credit application and other terms and conditions. It is not intended to extend to negligent acts or omissions that have no connection with use of the credit facility or related matters.

Note regarding disputed amounts (paragraph 12(c))

Paragraph 12(c) ensures that a party cannot act to delay any legal proceeding seeking urgent interlocutory relief, or action by us under clauses 16 to 20, simply lodging a written notice of dispute in order to trigger the dispute resolution procedure under paragraph 12(a). If the parties are working through the paragraph 12(a) process in good faith to resolve a disputed invoice, we would not seek to proceed with interlocutory relief or exercise of remedies under clauses 16 to 20 before the process were completed, except in the most extraordinary circumstances.