Bridging finance can be used in various situations where there is a need for short-term funding to bridge a financial gap. Third-party claims refer to claims made by individuals or entities against a business or person.

In situations where an approved claim is awaiting payout, bridging finance can serve as a valuable tool to provide short-term funding while awaiting the actual disbursement. Here are examples of third-party claim scenarios where bridging finance might be beneficial:

1. Personal Injury Claims: In cases where a personal injury claim has been approved but the actual payout is pending, individuals may utilise bridging finance to cover immediate medical expenses, legal fees, or other pressing costs.

2. Property Damage Claims: After a property damage claim has been approved, bridging finance can be used to address urgent repair or replacement needs while waiting for the insurance payout.

3. Product Liability Claims: Businesses that have an approved product liability claim can use bridging finance to cover immediate expenses such as legal fees, potential settlements, or costs associated with product recalls.

4. Professional Negligence Claims: Professionals facing an approved professional negligence claim may require bridging finance to cover legal expenses, settlement amounts, or to maintain operations during the interim.

5. Contract Disputes: When a contract dispute has been settled in favour of a business, bridging finance can be employed to cover initial costs, such as legal fees, potential settlements, or to sustain regular operations.

6. Insurance Claims Delays: In cases where there is a delay in processing insurance claims, bridging finance can be a vital resource to meet immediate financial obligations while awaiting the eventual payout.