Asset Inspection Form

Asset Inspection Form

Info
For additional assistance in completing the form, please download the demo document which shows where each of the fields are to be populated on the document. 
WarningPlease note: The current version document is V2.4. If you have a previous version saved, please delete and download the new template below.

WHY

For Sales and Hire Purchase deals, or where the supplier is not known to Simply, an asset inspection is required to understand the asset quality and suitability for credit. As it is the security on the contract, it is important that this information is understood as part of the application process. 

WHEN

Asset inspections are usually requested as part of the Underwriting decision and will need to have been checked prior to paying out the deal. 

HOW

  1. Download the External Asset Inspection form from the attachments.
  2. Complete the general information section:
    1. Date of Audit: (A)
      The date the information was gathered and photos were taken. 
    2. Customer Name: (B)
      The primary account associated to the Application 
    3. Address where asset(s) inspected: (C)
      The location you gathered the information and took the asset photos. 
    4. Address where asset(s) to be sited: (D)
      The location of the asset once contract activated if different from the location it is inspected. 
  3. Complete the Equipment Details:
    1. Manufacturer/Model: (E)
      The manufacturer and model of the asset being inspected. 
    2. Are all asset identifiers clear, visible and attached: (F)
      Answer YES if the asset photos you provide with the inspection clearly depict the registration and/or serial/chassis numbers. Please provide the photos when returning the asset inspection. 
    3. If NO . What is the explanation?: (G)
      If you have answered NO to whether the asset identifiers are clear and visible, please provide the reason why this is. 
    4. Asset Condition: (H)
      Please provide the conditions of the asset based on the criteria below 
      1. New
      2. Excellent
      3. Very Good
      4. Good
      5. Poor: 
    5. Asset Age (if used): (I)
      If the asset is used, what is its age in years. 
    6. Hours/milage (if used): (J)

    7. Is the equipment in working order: (K)

  4. Complete the Inspector Details
    1. Name: (L)
      The name of the individual inspecting the assets. 
    2. Company: (M)
      The company the inspector works for. 
    3. Date: (N)
      The date the documentation was completed.
    4. Signature (O)
      The signature of the person that inspected the asset. 

Notes
Multi-Asset Deals
If you have a large volume of assets on a deal being inspected at the same time, you may use the spreadsheet attachment and use the form as a front sheet. Audit identifiers should be  added to the sheet and referenced within the photos to ensure all information can be linked. 

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