REAA - Referral Service Agreement

REAA Finance
REFERRAL SERVICE AGREEMENT

10th September 2021
REAA Finance
520 Lutwyche Road
Lutwyche, 4030 QLD
Dear Charlie,
We refer to our recent discussion concerning arrangements for the referral-by-Referral

Organisation to Broking Organisation of any of your clients who may require business or personal
finance lending needs.
The advent of the National Consumer Credit Protection Act 2009 (the Act) has required that we have
a formal agreement in place to detail our obligations in respect to the conduct of referring
customers. This letter is intended to explain those obligations and to record the terms of our
arrangement which is as follows:
Disclosure
You must:
• 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 can arrange loans and leases but not specify any product, and
not provide any recommendations or advice concerning loans or leases,
• inform the consumer of any commissions or other benefits you may receive,
• obtain the consent of the consumer to pass their name, contact details and a short description
of the purpose for which the consumer may want the credit or lease, and
• pass the consumer’s contact details to us within five business days of informing the consumer
that we can arrange loans and leases but not any specified product.
Broking organization must disclose to the client all commissions and fees payable to it from any
source and a brokerage split involving you. If the client decides not to proceed with any
recommendations, we will not make any further unsolicited contact with your client.
© Real Estate Academy Australia Page 3 Version 1.0 – September 2021

RTO 32436
REAA Finance
Referral Fee payable
On completion of your referred client’s new finance business by Broking organisation, we agree that
the
net amount of commission received will be split as follows:
(a) Upfront of 75 % to Broking organisation and 25 % to you.

(b) Ongoing of 75% to Broking organisation and 25% to you.
Confidentiality Agreement
Broking organisation agrees to keep all information, records, and documentation of a private and
confidential nature in relation to a client which comes into possession of Broking Organisation, not
to disclose any such information except as required by law and generally to respect the confidential
nature and integrity of the other party’s relationship with the client.
Relationship
The relationship between Broking organisation and you created by this agreement is that of an
independent contractor. Nothing in this agreement constitutes a party to the partner, agency, or
authorised representative of another party or for any purpose or creates any partnership, agency
or relationship.
Termination
This agreement may be terminated by either party on 14 days written notice to the other. Any
termination is without prejudice to any existing rights, liabilities, or obligations of the parties.
Non-Exclusivity
Each party is free to enter referral arrangements with other parties and to render similar services
to other persons.
Assignment
You cannot assign or transfer any of your rights, benefits, or obligations under this agreement
without the written consent of Broking Organisation except the termination of this agreement.

RTO 32436
REAA Finance
Notices
Any notice or other communication in connection to this agreement must be in writing and be sent
to the address set out of this letter and signed by the party making the communication or its
authorised agent and is deemed to have been received by the addressee within five days.
Amendment and Waiver
This agreement may not be amended, or any provision waived in whole or in part except in writing
signed by the parties.
We thank you for you cooperation with the above. If you do not refer business to us in accordance
with the above, you will be in breach of the Act and liable to substantial fines. If you do not comply
with the above and we continue to accept referrals from you, then we will be in breach of the Act.
We trust you will understand the rationale of these terms and that they are driven by the
requirements of the Act. Please confirm your acceptance of the terms and conditions set out in this
letter by signing the attached duplicate and returning it to me.
Thank you and we look forward to our continued relationship.
X ________________________________________
Mortgage broker
Broking Organisation
X ________________________________________ Date: ____________________

Referrer
Referral Organisation

RTO 32436

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REAA Finance

REFERRAL SERVICE AGREEMENT

We refer to our recent discussion concerning arrangements for the referral-by-Referral

© Real Estate Academy Australia Page 3 Version 1.0 – September 2021

Referral Fee payable

(a) Upfront of 75 % to Broking organisation and 25 % to you.

© Real Estate Academy Australia Page 3 Version 1.0 – September 2021

Amendment and Waiver

Thank you and we look forward to our continued relationship.

X ____________________ Date:

© Real Estate Academy Australia Page 3 Version 1.0 – September 2021

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