Dealernet (Pty) Ltd facilitates the sales of short term insurance and financial related second gross products between, vehicle dealers, their clients and the suppliers through a state of the art portal. All transactions are 100% compliant with FIAS and FICA legislation.
Dealernet is also registered as a financial Services Provider with FSP license number 15487. The vehicle dealer transaction spans the whole value chain from vehicle appraisals, stock management, offer to purchase(client Needs Analysis), electronic vehicle finance (with all major finance houses), value added products including extended cover, credit life, motor warranty, maintenance and service plans as well as short term insurance on a Multi Quoting Platform. The system is also geared for any NCA (New Credit Act) Legislation and requirements. The platform provides extensive reporting and budgeting facilities. Portal is a term, generally synonymous with gateway, for a World Wide Web site that is or proposed to be a major starting site for users when they get connected to the Web or that users tend to visit as an anchor site.
The Dealernet system is a niche portal with, a centralized starting place for access to consolidated enterprise-related functions specific to the dealer environment currently in South Africa.
The Dealers and the Act The FAIS ACT regulates the advisory and intermediary service component of the financial service industry. The act requires that all persons performing an advisory or intermediary service function be licensed as Financial Service Providers (FSP's), or else they must be representatives of a licensed FSP. This information serves only as a guide, and is not intended as a legal interpretation of the act. Further information can be obtained from the Financial Services Board.www.fsb.co.za
Steps to be taken by Dealers who want to be licensed
Determine if you are required to register with FSP. Determine the categories of license for which you require authorization. Determine if you meet the "fit and proper requirements". Determine if you need a compliance officer. Complete the application with any "recognized body" appointed by the FSB.