The Australian Securities and Investments Commission (ASIC) has endorsed United Electrical as a provider of extended warranty services to the channel.
Victoria-based United Electrical Engineering (UEE) said in a statement that the new endorsement, the Australian Financial Services (AFS) licence, was a jewel in the crown for the service provider.
"This licence sets UEE apart from many of the unlicensed competitors," the company said.
ASIC required that only AFS-licensed companies offer extended warranty products. That was the law, UEE said.
The Victorian company would now retail and wholesale electrical equipment warranties to channel players across Australia and New Zealand.
The market segment had traditionally been dominated by insurance companies and their brokers, UEE said.
"UEE looks forward to the opportunity to compete in the financial services market," the statement said.
The company would also add on-sites support services on electrical and electronic equipment, it said.
UEE has been operating since 1992, providing maintenance and warranty services to retail, wholesale and distribution customers.
Lately, the company has added on-site services for audio-visual and home entertainment products, it said.
Consumers often wanted better than the 12 months' warranty often offered by manufacturers. UEE provides third-party warranties to the channel.