1. Scope of arrangement
You may introduce prospective clients to LendStart Finance Pty Ltd ("LendStart"). Your role is limited to a mere referral: passing on the client's contact details with their consent, or providing them with LendStart's details. You must not discuss loan products, rates or suitability, or assist with any credit application.
2. Client consent & disclosure (NCCP)
Before referring a client you must (a) obtain their consent to pass their details to LendStart, and (b) disclose any commission or benefit you may receive for the referral. Each referral submitted through this portal records your confirmation of both.
3. Commission
LendStart may pay you a referral fee on referred loans that settle. Commission varies by lender and product and is confirmed when each fee is paid. Fees exclude GST; if you are registered for GST, GST is payable in addition on supply of a valid tax invoice or RCTI.
4. Payment & clawback
Commission is payable after LendStart receives its upfront commission from the lender. If a lender claws back LendStart's commission (e.g. early discharge), the corresponding referral fee may be clawed back on a pro-rata basis.
5. Privacy
Both parties must handle client personal information in accordance with the Privacy Act 1988 (Cth) and use it solely for the purposes of the referral.
6. Term
Either party may end this arrangement with 14 days' written notice. Commission remains payable for referrals submitted before termination that later settle.
