Loan Broker Agreement Generator for Australia

The Loan Broker Agreement is essential for financial services providers operating in Australia who engage in credit assistance activities. This document is required when establishing a formal relationship between a licensed credit assistance provider (broker) and their clients, whether individuals or businesses seeking loan products. The agreement must comply with the National Consumer Credit Protection Act 2009, the Corporations Act 2001, and other relevant Australian legislation. It includes crucial elements such as service scope, fee structures, disclosure requirements, privacy provisions, and compliance obligations. The document is particularly important given the regulatory focus on consumer protection and transparency in financial services following the Banking Royal Commission recommendations.

1. Parties: Identifies the loan broker and the client, including full legal names, ABN/ACN, and registered addresses

2. Background: Establishes the context of the agreement, including the broker's licensing status and the client's desire to engage broker services

3. Definitions: Defines key terms used throughout the agreement, including regulatory terms from relevant legislation

4. Appointment and Scope of Services: Details the appointment of the broker and specific services to be provided

5. Broker's Obligations: Lists the broker's duties, including best interests duty, disclosure requirements, and compliance obligations

6. Client's Obligations: Outlines the client's responsibilities, including providing accurate information and required documentation

7. Fees and Commissions: Details the fee structure, payment terms, and disclosure of commissions from lenders

8. Compliance and Regulatory Requirements: Addresses compliance with relevant laws, including credit licensing and responsible lending obligations

9. Confidentiality and Privacy: Covers handling of confidential information and compliance with privacy laws

10. Liability and Indemnity: Sets out liability limitations and indemnification provisions

11. Term and Termination: Specifies the agreement duration and termination provisions

12. General Provisions: Standard boilerplate clauses including governing law, notices, and dispute resolution