Price of Vehicles.

Chassis Number.

Colour of Vehicle.

Model and Make.

Engine Number.

The total amount of the loan would be at the discretion of the Credit Committee.

Assignment of Fully Comprehensive Insurance Policy to the Credit Union. Credit Union will write insurance company indicating that the vehicle is being held as collateral.

The following is a list of approved car insurance providers. Insurances outside of this list can be used once meeting the requirements of the Credit Union or at the discretion of the Credit Committee and Board of Directors:

1. COLFIRE.

2. Sagicor.

3. Beacon.

Submission of Certified Copy of vehicle ownership, one week after receipt of vehicle.

Mortgage Bill of Sale on Vehicle or Instrument of Charge (vehicle to be owned by both Credit Union and Member).

If the borrowing member wishes to register the vehicle on two (2) persons’ names, a Mortgage Bill of Sale applies and documented legal authorisation is required from the third party.

Payment of legal fees are to be borne by the applicant.

A member shall not dispose of a vehicle unless written consent is granted by the Credit Union.

On completion of the loan the Credit Union must release the Instrument of Charge or Mortgage Bill of Sale for the asset.