Providing finance under the NETCC

New energy tech can be purchased in more ways than ever before. The NETCC seeks to protect consumers, no matter how they pay.

Offering deferred payment options

New Energy Tech Approved Sellers may only offer consumers deferred payment arrangements through a credit provider that:

• is licensed under the National Consumer Credit Protection Act (2009)(Cth)(“NCCPA”) and the deferred payment arrangement is regulated by the NCCPA and the National Credit Code (NCC); or
• has had its deferred payment contract and internal policies approved by the NETCC Administrator, in accordance with A7 of the NETCC Annexure

If you are unsure if a payment arrangement you’ve agreed to or are being offered is covered by the NCCPA and NCC, you can visit the Australian Securities and Investments Commission here. There, you will find information about to search for licenced providers or making complaints about licenced credit providers.

A list of NETCC Approved Finance Providers can be found at the bottom of this page.

Applying to have your deferred payment product approved

Finance providers with offerings not regulated by the NCCPA and NCC can submit an application to the Administrator and the Finance Delegate to have their deferred payment arrangement approved. This means that New Energy Tech Approved Sellers will be able to offer your deferred payment contract to your consumers, or for Approved Sellers to offer their own deferred payment product.

To begin the application process:

1. Review clause A7 of the NETCC
2. Prepare your evidence, which may include:
   1. Your deferred payment contract
   2. Evidence to support the product’s exclusion from NCCPA and NCC regulation
   3. Supporting policies and procedures, e.g., dispute resolution, hardship
3. Send a request to the Administrator and Finance Delegate at [email protected] and CC [email protected] including your supporting evidence.
   

Upon submission the Finance Delegate will raise an invoice for the fee of $2,500. Please note this fee was set by the Finance Delegate. Once payment is received, processing of your application will commence.

Should the decision be made to refuse approval, the decision may be appealed to the external Code Compliance and Monitoring Panel as per Clause A8 of the NETCC.

For any questions about deferred payments, please contact [email protected].

Approved finance providers

The NETCC Administrator has approved the use of the following deferred payment arrangements, in accordance with A7 of the NETCC Annexure.