LAUNCH / HANDOVER EVENT DATES ARE DECIDED TWO MONTHS IN ADVANCE
2 months before Handover Date:
Account Managers notify PAYG candidates that they have one month to hit their required targets for PAYG Program Launch / Handover Event eligibility
Account Managers will provide a specific date for when pre-booking targets must be met, which is to be one month before the Launch / Handover date.
4 weeks before Handover Date:
Account Managers verify all bookings of the PAYG candidates in the potential launch pool
Account Managers finalize the official Launch Pool List (no new additions hereafter)
Credit Team requests asset quotes (tractors and implements)
3 weeks before Handover Date:
Operations Team sends asset pricing invoices to Credit Team
Credit Team runs models and tools for structuring of the deals
Credit Team conducts KYC on each PAYG Candidate in the Launch Pool (calls candidate references, outreach for missing data/files, etc.)
Credit Team makes borrower group assignments, a process that pools 3-4 PAYG Candidates who are cross-guaranteed and cross-collateralized to one another. Each borrower group includes regional diversity, which serves to: 1) encourage the swapping of service bookings when any single PAYG Customer is oversubscribed in demand and 2) allow PAYG Customers in each borrower group to share insights about demand opportunities across regions to increase tractor productivity year-round. Note: The Credit Team ensures that borrower group participants are not too sparsely located, as to not present prohibitive travel costs.
2 weeks before Handover Date:
Credit Team escalates Credit Approval Documents to Credit Risk Committee and schedules meeting for review, restructuring edits, issue escalation, etc.
Operations Team purchases all assets (tractors and implements)
Credit Team drafts official Contracts for internal review and approval
1 week before Handover Date:
Contracts are shared with Potential PAYG Customers
Down Payments are collected
On Handover Day:
New PAYG Customers attend the event, receive their contracts, and are walked through each clause in detail
PAYG Candidates confirm their understanding and execute their contracts
A field demo is performed to show the proper use and maintenance routines for tractor operation