RAF Bridging Finance
GET A PORTION OF THE VALUE OF YOUR ROAD ACCIDENT FUND SETTLEMENT
The South African Road Accident Fund (RAF) is designed to compensate road accident victims and their dependants. However, the process of securing compensation can take several years.
HOW LONG DOES IT TAKE THE RAF TO PAY AFTER SETTLEMENT?
Even after both parties have agreed to a settlement or the courts have ordered the RAF to award
you compensation of a specific amount, it can take months before the funds you’re owed are
actually paid out.
Legally, the RAF has 180 days to complete this process.
GETTING BRIDGING FINANCE AGAINST THE VALUE OF A RAF CLAIM
During the time it takes the RAF to pay out, you can get bridging finance against the value of your
Bridging finance can give you access to needed funds in the months you spend waiting for the
compensation you’ve been awarded.
To secure bridging finance for Road Accident Fund payouts, you’ll need to provide either:
- a RAF settlement agreement or
- a court order requiring the RAF to pay you specified compensation.
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