Raising Commission Deals
When to Raise a Commission Deal
Commission deals should be raised on the same day as the settlement
Prompt submission ensures smooth and efficient processing
Delayed submissions may impact processing timelines
How to Raise an Asset Finance Commission
Navigate to the Oxcel Broker Services dashboard
Go to the "Commissions Claim" section
Click on "New Commission Claim"
Enter the following required details:
Lender Name
NAF (Net Amount Financed)
Loan Account Number
Lender's Reference
Client's Full Name
Borrowing Company Name
Referral (select from dropdown)
BSO/BDM
Origination Fee (Including GST)
Brokerage/Commission (Including GST)
Settlement Date
Note (Optional) - Include any relevant information for the accounts team
Click "Submit"
Important Notes:
Red status indicates the payment is pending or being processed
Green status confirms the payment has been successfully processed
Recheck all details before submission - entries cannot be edited after submission
Inaccurate information will result in the deal being marked as "inaccurate"
Commission Processing
Processing Timeframe
Commissions are processed within 7 days of receipt by Oxcel
Required Information for Verification
Loan contract number
Client name
Origination amount
Commission amount
GST figures
Commission Payment Process
An RCTI (Recipient Created Tax Invoice) is automatically generated and sent to you
Funds are deposited into your nominated account within 24 hours of processing
Tracking and Communication
Tracking Commission Payment Status
Use the OBS system to check payment status
Red status: Payment is pending or being processed
Green status: Payment has been successfully processed
Communicating with the Accounts Team
Use the dedicated notes section in the system
Include relevant information that might affect commission processing
This ensures clear communication between brokers and the accounts team
Handling Special Situations
Clawback Process If a clawback occurs:
An accounts officer will notify you via email
You have two options for settlement:
Pay the amount by the specified due date
Have it adjusted against future commission payments (if this option is notified)
Handling Inaccurate or Duplicate Commission Details
Deals with inaccurate information will be marked as "inaccurate" in the OBS system
This prevents the processing of incorrect or duplicate payments
Contact the accounts team to resolve discrepancies
Contact Information
For any commission-related queries, contact:
Email: [email protected]
System: OBS (Oxcel Broker Services)
Documentation
You will receive the following documentation:
An automatically generated RCTI
Commission payment confirmation
Clawback notifications (if applicable)