FAQ
Frequently Asked Questions
A deposit is not always required, and when applicable, the amount is determined by the asset’s type, year model, and value.
As the asset remains the property of Quest Capital Solutions during the rental period, it cannot be recorded in your financial statements. Only the monthly tax invoices are recorded in your Income Statement.
If the client can no longer afford the asset, it must be returned to Quest. The client remains responsible for rental payments until the asset is either rented to another client or sold. Any costs incurred to prepare the asset for resale or replacement will be charged to the client.
The client is solely responsible for all maintenance costs associated with the rented assets. This includes ensuring the upkeep of the assets, performing annual Certificates of Fitness (COFs), and keeping license discs current at the client’s cost.
The client who rents the asset is responsible for maintaining comprehensive insurance coverage on the asset(s) at all times. Alternatively, we have partnered with Libra Brokers, who can assist with your insurance needs.
The client who rents the asset is liable for new registrations, annual license costs, traffic fines incurred, and a Valid Roadworthy Certificate (COF). The asset belongs to Quest Capital Solutions (Pty) Ltd, therefore clients will be invoiced when license renewals are due. Payment confirmation thereof, and a valid roadworthy (COF) are necessary for us to obtain the license discs.
Yes, credit checks and FICA are performed on all new clients who have signed the consent form, with annual reviews thereafter.
Yes, it is mandatory for all directors to sign suretyship for all new client onboardings. If there is more than one director, an additional Resolution must be drafted and signed by all directors, nominating and authorizing an officer, director, or member to sign on behalf of the Company. Quest Capital’s directors will also provide surety for all assets.
- Quest Capital application form to be completed
- Latest 3 months bank statements
- Most recent management accounts and latest financial statements
- Company Registration Documents / CIPC Documents
- ID(s) and proof of address of Director(s)/member(s)
- SARS Tax Clearance Certificate
- Asset Register – if applicable
- Proof of address of business
- Credit checks will be done
- All documents to be submitted to: credit@qcapital.co.za