A Full Membership is the membership for the asset and equipment finance firm.
In order to apply for a Full Membership, at least one Associate Membership is required. An Associate Membership is a personal membership for the nominated representative of the firm and any additional brokers in the firm.
In order to be eligible to apply for a Full Membership of CAFBA applicants are required to have:
Professional Indemnity Insurance cover of not less than $2m per claim and in the aggregate, including 12 months’ run-off cover. A PI Insurance Scheme endorsed by CAFBA is available to members
Current membership in an External Dispute Resolution scheme
An Internal Dispute Resolution policy for your firm. CAFBA is able to assist you if you do not have one in place
FOUR professional referees from finance/lending institutions
For each Associate member that is named in the application, applicants are required to have:
Agreement to abide by CAFBA’s Professional Standards
Police Check for all Associate members (no more than 3 months old)
Credit and Bankruptcy Check for all Associate members (no more than 3 months old)
A copy of AML Training Certificate (no more than 12 months old)
A copy of a Diploma in Financial Services (Finance/Mortgage Broking) or equivalent for all Associate members
Applicants for membership with CAFBA are required to submit a Police, Credit and Bankruptcy check as part of their application. These checks must be no more than 3 months old at the time of application.
CAFBA Members are required to provide an updated Police, Credit and Bankruptcy Check every 5 years at their renewal.
Current financial members of MFAA have a reciprocal membership arrangement with CAFBA which allows you to claim 50% discount on the annual CAFBA membership fee. The membership discount will only be applied to the same person as shown on the MFAA certificate.
To claim this discount, please upload a copy of your current MFAA membership certificate in your online new member application, and advise CAFBA this has been done at: firstname.lastname@example.org
We will then apply this discount to your application so you can then pay the reduced amount.
By submitting your application for Full CAFBA membership you are agreeing to pay CAFBA Membership Fees as per the schedule.
All applications are subject to approval by the CAFBA Committee.
Documentation submitted will not distributed or shown to any third party unless an issue arises pertaining to dishonesty, in which case referral to the sub-committee consisting of the President, Vice-President and one Committee member, will determine the relevancy of the application.
If you have any questions, please contact the CAFBA Secretariat:
Phone: 1300 022 322