Amounts and Benefits We Receive
As a broker, we may receive commission payments and other benefits from a third party for arranging and facilitating finance and insurance for you.
A financier may make payments to us for business introduced to the financier and/or based on the volume of transactions we introduce to the financier, and/or the extent to which finance agreements we introduce remain up to date in payments
Consumer credit law has specific requirements for disclosure of commissions and like payments. We will set out the required detail in the transaction disclosure documents we must give you. In addition, the financier will include details in your loan contract.
If insurance is arranged, details of the benefits we receive and the business providing them to us, will be set out in the Financial Services Guide we give to you before you accept the insurance.
We may also receive payments from other brokers because we have arrangements with them for the introduction of clients to a financier.
Not all benefits we receive are monetary and may include training, tickets, holidays or similar benefits.
Amounts and Benefits We Pay
In addition, we may pay amounts to third parties who refer you to us. These third parties may include other businesses with whom you are, or have been, dealing with, such as other broker or sellers of goods or services.
For consumer finance, we will tell you about them in the transaction disclosure documents the law requires us to give you.
For specific finance transactions we arrange for you, we will tell you details of the amounts we receive or pay or are likely to receive or pay, or if not known at the time, how those amounts are calculated and/or a reasonable estimate of the amounts, as well who pays and receives the amounts.