Commercial Loan Broker Agreement Template for New Zealand

The Commercial Loan Broker Agreement is essential for businesses in New Zealand seeking to engage professional assistance in securing commercial financing. This document is typically used when a business requires expert guidance in identifying, negotiating, and securing commercial loans, with the broker acting as an intermediary between the business and potential lenders. The agreement ensures compliance with New Zealand's financial services regulations while protecting both parties' interests. It details the broker's scope of authority, compensation structure, and obligations under relevant legislation including the Financial Service Providers (Registration and Dispute Resolution) Act 2008 and the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The document is particularly important in complex commercial financing scenarios where professional expertise is required to navigate the lending marketplace effectively.

1. Parties: Identification of the broker and the client, including full legal names, addresses, and company registration details

2. Background: Context of the agreement, including the broker's qualifications and the client's desire to engage the broker's services

3. Definitions: Key terms used throughout the agreement, including 'Services', 'Success Fee', 'Loan', 'Lender', etc.

4. Appointment and Scope: Terms of the broker's appointment, exclusivity status, and detailed scope of services

5. Broker's Obligations: Core duties, including due diligence, documentation preparation, lender negotiations, and compliance requirements

6. Client's Obligations: Client's responsibilities, including providing accurate information, timely responses, and necessary documentation

7. Fees and Payment Terms: Compensation structure, including success fees, retainers, expenses, and payment timing

8. Confidentiality: Protection of confidential information and trade secrets

9. Term and Termination: Duration of the agreement and circumstances for termination

10. Regulatory Compliance: Compliance with NZ financial services laws and regulations

11. Representations and Warranties: Key assurances from both parties

12. Liability and Indemnification: Limitations of liability and mutual indemnification provisions

13. General Provisions: Standard clauses including governing law, dispute resolution, and entire agreement