Independent Contractor Agreement Between Broker And Associate Generator for Australia

The Independent Contractor Agreement Between Broker And Associate is designed for use in the Australian financial services industry where brokers engage associates as independent contractors rather than employees. This arrangement is common in various broking sectors, including mortgage, insurance, and financial planning. The document ensures compliance with Australian regulatory requirements, including ASIC regulations, financial services licensing obligations, and independent contractor legislation. It addresses crucial aspects such as commission structures, service obligations, compliance requirements, professional indemnity insurance, and client management protocols. This agreement is particularly important in protecting both parties' interests while maintaining regulatory compliance in the heavily regulated Australian financial services sector.

1. Parties: Identifies the contracting parties - the Broker and the Associate, including their full legal names, ABN/ACN, and registered addresses

2. Background: Outlines the context of the agreement, including the Broker's business, the Associate's qualifications and intentions of the parties

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out interpretation rules

4. Appointment and Term: Establishes the Associate's appointment as an independent contractor and specifies the term of the agreement

5. Nature of Relationship: Explicitly confirms the independent contractor relationship and disclaims any employment relationship

6. Services: Details the specific services to be provided by the Associate, including any minimum performance requirements

7. Compliance Obligations: Outlines regulatory compliance requirements, including financial services laws and licensing obligations

8. Fees and Commission Structure: Details the payment terms, commission splits, and calculation methods

9. GST and Taxation: Addresses GST requirements and tax responsibilities of both parties

10. Obligations of the Associate: Lists specific duties, responsibilities and conduct requirements for the Associate

11. Obligations of the Broker: Details the Broker's responsibilities and support provided to the Associate

12. Intellectual Property: Addresses ownership and usage of intellectual property, including client lists and business materials

13. Confidentiality: Protects confidential information of both parties and clients

14. Insurance and Liability: Specifies required insurance coverage and allocation of liability between parties

15. Termination: Details circumstances and processes for termination of the agreement

16. Post-Termination Obligations: Outlines obligations that survive termination, including restraint of trade

17. Dispute Resolution: Establishes process for resolving disputes between parties

18. General Provisions: Includes standard boilerplate clauses such as notices, amendment process, and governing law