It has about 1000 equipment finance customers in the mining and mining support sectors.
The bank’s offer extends the measures offered to BOQEF customers hit by the floods to those who were affected by Cyclone Yasi.
This hardship relief package includes:
- An opportunity to defer payments for up to three months on equipment finance contracts
- A waiver of substitution or early termination arising from insurance payouts of written-off cyclone or flood damaged equipment finance by BOQEF
- An opportunity for finance of replacement equipment rendered inoperable due to Cyclone Yasi or flood waters without the standard requirements for detailed financial information.
However, on the last point it should be noted that conditions apply. Standard documentation fees also will be waived for applications approved under this offer.
A BOQEF Hardship Relief Application form is available for eligible customers by contacting the bank’s Financial Hardship Team on financialhardship@boq.com.au or 1800 079 866.
“Our equipment finance hardship relief package is part of a special hardship package we’ve established for our customers requiring financial assistance as a result of the recent extreme weather events,” BOQ managing director David Liddy said.
