|Commission Referral Agreement
The National Consumer Credit Protection Regulations 2010 contain provision for referrers to be exempt from licencing requirements provided that certain criteria pertaining to the collection and provision of consumer details to registered/licenced persons are met.
If you refer potential borrowers to Ink Wealth Pty Ltd, you will be deemed to have agreed to the terms set out in this document.
A referral is deemed as an introduction to a consumer and consequent settlement of any/all ongoing loans.
A referral does not include a referrer’s own personal lending.
All commission payments are GST inclusive.
All commission payments will only be paid once Ink Wealth Pty Ltd has received payment from the lending institution. This could take up to 4 to 8 weeks from the settlement date.
Ink Wealth Pty Ltd reserves the right to change the level and amount of any commission payment at any time. Any such changes will be communicated to all Ink Pal Partners. Any previous pending commission will not be effected by any such change.
Ink Wealth Pty Ltd reserves the right to cancel this agreement with any Ink Pal, at any time.
The Ink Pal partner program is solely the property of Ink Wealth Pty Ltd.
Ink Wealth Pty Ltd reserves the right to terminate the program in its entirety at any time providing there are no pending commissions owing at the time of termination.
- Only engage in credit activities as a referrer incidentally to another business you are carrying on.
- Not charge a fee to the consumer for the referral.
- Only inform the consumer that we are able to arrange loans but not any particular product, and not provide any recommendations or advice concerning loans.
- Inform the consumer of any commissions or other benefits you may receive.
- Obtain the consent of the consumer to pass on their name, contact details and a short description of the purpose for which they may want the credit.
- Pass the consumer’s contact details to us within five business days of informing the consumer that we are able to arrange loans but not any particular product.
|I hereby agree that if a loan is discharged within 18 months of establishment that I have received a referral commission for and Ink Wealth Pty Ltd gets clawed back any or all of their revenue from the said lender, I agree to refund to Ink Wealth Pty Ltd our percentage of that clawback so that Ink Wealth Pty Ltd is not at a financial loss.|