United Trust Bank was contacted by an established broker connection with a potential transaction for a company purchasing two items of construction equipment from an auction. The sale price had just been agreed and the customer needed to move very quickly to secure the equipment. Payment to the auctioneers within 24 hours was imperative.
The finance proposal was agreed within an hour of receipt and the broker then signed documentation with the customer later that day. Original documentation was then sent to us and received the following morning and a CHAPS payment made to the auction house. The time elapsed from receiving the proposal to making the payment was less than 24 hours.
In Asset Finance, UTB pay all of their supplying dealers by same day payment, ensuring that transactions can be processed quickly and efficiently and enabling our broker partners to offer the very best service to their customers.