This agreement is made between Bigstone Capital Pty Ltd ("Bigstone") and the company described below ("you").
Term: This agreement will become effective from the date you submit it to Bigstone.
The Services: You agree to introduce prospective clients seeking finance to Bigstone. You determine the amount of time that you spend doing so.
Compensation: In consideration for successful introductions, Bigstone will pay you as follows:
a) For each referral form (contact details only) that results in a transaction in which Bigstone provides finance to the customer referred (each a "Settled Transaction"), Bigstone will pay you an upfront percentage of the face value of the loan (excluding any fees) in relation to that Settled Transaction;
b) For each completed application form, and all related ancillary documents required for an approval (e.g. financials, & compliance processes) that results in a Settled Transaction, Bigstone will pay you an upfront percentage of the face value of the loan (excluding any fees) in relation to that Settled Transaction;
The compensation rate for a the referral or application may vary from time to time. It is available directly from a member of our business development team. If you haven't spoken to us or would like to know more about how we reward introducers, you can book a quick 15 minutes with our team.
Life of customer: Bigstone will pay you compensation every time a customer introduced by you obtains finance from Bigstone (i.e. for the life of the customer account). You will be paid the compensation monthly in arrears, after the gross transaction revenue related to the introduced client has been earned. A customer is considered to be introduced by you as long as they have not subsequently requested another party represent them in a loan transaction.
Clawback: Compensation paid to you by Bigstone may be clawed back (i.e. you must repay Bigstone the amount of the compensation you received) if the facility:
a) falls into arrears within 90 days, or is written off within 6 months of the date the loan is provided - in which case 100% of the compensation must be repaid, or
b) is written off within 12 months of the date the loan is provided — in which case 50% of the compensation must be repaid.
You must repay Bigstone any amount of compensation that Bigstone informs you in writing is to be clawed back within 5 Business Days of receiving that notice. Bigstone may set-off any other compensation payable to you against any amounts payable under the clawback.
Requests: Bigstone will comply with your reasonable requests and provide access to information and forms reasonably necessary for you to refer clients under this agreement.
Termination: We may terminate this agreement at any time by notice to you, and Bigstone will continue to pay you the compensation in relation to clients that you have previously introduced unless:
a) We consider on reasonable grounds that information you or any of your agents or employees provided pursuant to this agreement is not true and correct in circumstances where you ought reasonably to have known it is not true and correct;
b) You are or become insolvent (including being in administration, liquidation or receivership);
c) You commit any offence involving fraud or dishonesty or otherwise do anything that in our opinion is likely to bring our reputation into disrepute.
Intellectual Property: You have no rights to our names, brands, logos and other intellectual property that we allow you to use.
Exclusivity: This agreement is not exclusive, and nothing in this agreement constitutes a partnership, joint venture, agency or other form of fiduciary relationship between us and you.
Counterparts: This agreement may be executed in counterparts and the executed counterparts when taken together will constitute a single document.
Jurisdiction: This agreement is governed by the laws in force in New South Wales, and each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of New South Wales and the courts of appeal from them.
Electronic Signature: The parties may execute this document electronically, and each consent to entering into this agreement through the insertion of electronic signatures into this document.