Referral Partner Terms & Conditions
These Terms & Conditions govern your participation in the Fairbanks Financial Referral Partner Program. By submitting a partner application or introducing any referral, you agree to be bound by these terms in full.
These Referral Partner Terms & Conditions ("Terms") are entered into between Consolidated Funding Group Pty Ltd trading as Fairbanks Financial Group (ACN 119 381 832, ACR 481272) ("Fairbanks", "we", "us", "our") and the individual or entity who has submitted a Referral Partner Application ("Partner", "you", "your"). By submitting an application, accepting a partner invitation, or introducing any referral to Fairbanks, you agree to be bound by these Terms. If you do not agree, do not submit an application or introduce any referral.
1. Definitions
| Term | Meaning |
|---|---|
| Agreement | These Terms & Conditions together with any written confirmation issued by Fairbanks to the Partner. |
| Approved Referral | A Referral that Fairbanks, in its sole and absolute discretion, has accepted and chosen to act upon. |
| Client | A person or entity introduced to Fairbanks by the Partner as a potential borrower. |
| Commission | Any referral fee payable by Fairbanks to the Partner pursuant to clause 4, subject to the conditions therein. |
| Commission Schedule | The schedule of referral fee rates published or communicated by Fairbanks from time to time, as amended at Fairbanks' sole discretion. |
| Confidential Information | Any non-public information disclosed by Fairbanks to the Partner, including the Commission Schedule, internal processes, client data and proprietary systems. |
| Intellectual Property | All trade marks, logos, branding materials, software, templates and any other intellectual property owned by or licensed to Fairbanks. |
| Referral | An introduction of a potential client made by the Partner to Fairbanks in accordance with these Terms. |
| Settled Loan | A loan that has been formally approved by a lender, fully executed and funds disbursed to the borrower or relevant third party. |
2. Nature of the Relationship
The Partner has no authority to bind Fairbanks to any agreement, make representations on behalf of Fairbanks, or hold themselves out as an employee, officer or authorised representative of Fairbanks, except as expressly permitted in writing by Fairbanks.
The Partner is solely responsible for their own tax obligations (including income tax and GST) arising from any Commission received. Fairbanks will not withhold tax on behalf of the Partner unless required by law.
The Partner acknowledges that Fairbanks may engage any number of referral partners simultaneously and that this Agreement is non-exclusive. Fairbanks reserves the right to introduce competing referral arrangements without any obligation to notify the Partner.
Where the Partner is a licensed mortgage broker or holds an Australian Credit Licence (ACL) or acts as a credit representative, the Partner must at all times comply with their own licensing obligations. Fairbanks is not responsible for the Partner's compliance with the NCCP Act 2009 or any other applicable law.
3. Referral Process & Acceptance
To make a Referral, the Partner must introduce a potential client to Fairbanks using the official referral link, online form or contact method designated by Fairbanks from time to time. Referrals submitted through unauthorised channels may not be accepted.
What triggers a valid Referral
- Submitted via Fairbanks' designated referral channel
- Client has not previously engaged with Fairbanks
- Partner is the first party to introduce the client
- Client has provided consent to be referred
What invalidates a Referral
- Client was already in Fairbanks' database prior to referral
- Referral submitted after client made direct contact with Fairbanks
- Client withdraws consent at any time before settlement
- Partner provided false or misleading information about the client
Fairbanks retains full, absolute and unfettered discretion to accept or reject any Referral for any reason, including but not limited to: the client's creditworthiness, suitability, compliance risk, geographic location, or Fairbanks' current capacity. Rejection of a Referral does not give rise to any obligation to pay Commission or any other amount to the Partner.
Fairbanks is under no obligation to advise the Partner of the outcome of any loan application, update the Partner on the progress of a referral, or disclose the reasons for any rejection. Partner acknowledges that privacy obligations prevent Fairbanks from sharing client-specific information.
4. Commission & Payments
4.1 — Commission Rates
Commission rates are set out in the Commission Schedule communicated by Fairbanks to the Partner. Fairbanks reserves the right to vary the Commission Schedule at any time and without prior notice. The Commission rate applicable to any given referral is the rate in effect at the time the relevant loan settles, not the rate at the time of referral.
4.2 — Payment Timing
Commission will be calculated and paid within 30 days of Fairbanks receiving the trail or upfront commission payment from the relevant lender in respect of the Settled Loan. Fairbanks is not obligated to pay Commission before it has received payment from the lender.
4.3 — Clawback
If a lender claws back or requires repayment of any commission paid to Fairbanks in respect of a Settled Loan (for example, where the loan is discharged within 12–24 months of settlement), Fairbanks reserves the right to deduct a proportionate amount from any future Commission payable to the Partner, or to invoice the Partner for repayment of the clawed-back amount.
4.4 — GST
Commission amounts are exclusive of GST. Where the Partner is registered for GST and provides a valid tax invoice, GST will be added to the Commission payment. The Partner is responsible for issuing valid tax invoices in compliance with Australian tax law.
4.5 — No Guaranteed Income
Fairbanks makes no representation or warranty regarding the volume of referrals that will be approved, the number of referrals that will settle, or the total Commission that the Partner will earn. The Partner has no entitlement to any minimum level of Commission or income from participation in the program.
4.6 — Disputes
Any dispute regarding Commission must be raised in writing to partners@fairbanksfinancial.com.au within 30 days of the relevant payment date. Fairbanks' records constitute prima facie evidence of the amounts payable and the Partner bears the burden of demonstrating any error.
5. Partner Obligations
By participating in the program, the Partner represents, warrants and undertakes to Fairbanks at all times that:
Licensing & Compliance
- Maintain all required licences, registrations and professional memberships
- Comply with all applicable laws including the NCCP Act, Privacy Act, Spam Act and AML/CTF Act
- Hold appropriate professional indemnity insurance at all times
- Notify Fairbanks immediately if any licence or registration is suspended or cancelled
Client Conduct
- Obtain the client's explicit consent before submitting any Referral
- Provide accurate, complete and up-to-date information about referred clients
- Not provide credit advice, financial product advice or legal advice to clients on behalf of Fairbanks
- Inform clients that they are being referred to a third-party mortgage broker
Brand & Representation
- Only use Fairbanks' approved marketing materials provided in writing
- Not make representations about Fairbanks' products, rates or services without prior written approval
- Not advertise the Commission arrangement without Fairbanks' prior written consent
- Promptly correct any misleading statements made to clients about Fairbanks
Record Keeping
- Maintain accurate records of all Referrals submitted to Fairbanks for a minimum of 7 years
- Provide records to Fairbanks on request within 5 business days
- Cooperate with any audit or compliance review conducted by Fairbanks
- Report any suspected data breaches or privacy incidents to Fairbanks immediately
6. Prohibited Conduct
The Partner must not, directly or indirectly:
Provide credit advice, financial product advice or legal advice to any client in connection with a Referral, unless the Partner holds the appropriate licence to do so and is acting in that capacity independently of Fairbanks.
Offer, promise or pay any incentive, kickback, gift or benefit to a client as an inducement to use Fairbanks' services without prior written approval from Fairbanks.
Represent to any person that the Partner is an employee, officer, authorised representative or agent of Fairbanks.
Submit fraudulent, fabricated or misleading Referral information, including false client details, inflated income figures, or manufactured client circumstances.
Use Fairbanks' Intellectual Property (including its name, logo, branding or trademarks) without prior written consent, or in any manner that may damage the reputation of Fairbanks.
Solicit or attempt to poach any client, employee, broker or partner of Fairbanks during the term of this Agreement or for 12 months after its termination.
Engage in any conduct that constitutes misleading or deceptive conduct, unconscionable conduct or a breach of the Australian Consumer Law (Schedule 2 of the CCA 2010).
Assign, subcontract or otherwise transfer the Partner's rights or obligations under this Agreement to any third party without Fairbanks' prior written consent.
7. Confidentiality
The Partner must keep all Confidential Information strictly confidential and must not disclose it to any third party without Fairbanks' prior written consent. The Partner may only use Confidential Information to the extent necessary to perform their obligations under this Agreement.
Confidential Information includes, without limitation: the Commission Schedule and any variations thereto, client data provided by Fairbanks, Fairbanks' internal processes and systems, information about Fairbanks' lender panel and commercial arrangements, and any other information designated as confidential by Fairbanks.
The confidentiality obligations in this clause survive the termination of this Agreement for a period of 5 years and, in respect of personal information, indefinitely.
The Partner must immediately notify Fairbanks in writing if they become aware of any actual or suspected unauthorised disclosure, use or access of Confidential Information, and must cooperate with Fairbanks to mitigate any harm.
Privacy Obligations
Where the Partner receives personal information about a client in connection with this Agreement, the Partner must handle such information in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs). The Partner must only use client personal information for the purpose of facilitating the Referral and for no other purpose. Upon termination, the Partner must destroy or return all client personal information held in connection with this Agreement.
8. Intellectual Property
All Intellectual Property used in connection with the Fairbanks Referral Partner Program, including but not limited to the Fairbanks name, logo, trademarks, website, branding materials, partner portal, templates and marketing collateral, remains the exclusive property of Consolidated Funding Group Pty Ltd trading as Fairbanks Financial Group.
Fairbanks grants the Partner a limited, non-exclusive, non-transferable, revocable licence to use Fairbanks' approved branding materials solely for the purpose of making Referrals in accordance with these Terms. This licence may be revoked by Fairbanks at any time and without notice.
The Partner acquires no interest in Fairbanks' Intellectual Property by virtue of this Agreement and must immediately cease using all Fairbanks Intellectual Property upon termination of this Agreement.
Any feedback, suggestions or improvements provided by the Partner regarding Fairbanks' services or systems become the property of Fairbanks upon submission, and Fairbanks may use such feedback for any purpose without compensation to the Partner.
9. Liability & Indemnity
Fairbanks excludes all liability (whether in contract, tort, statute or otherwise) for:
- Any indirect, consequential, special, incidental or punitive loss or damage suffered by the Partner
- Loss of profit, revenue, business opportunity or anticipated savings
- Loss arising from Fairbanks' decision to reject a Referral or decline a client's loan application
- Loss arising from a lender's clawback of commission
- Loss arising from Fairbanks exercising its right to amend the Commission Schedule
- Loss arising from termination of this Agreement in accordance with clause 10
- Loss arising from the suspension or modification of the Referral Partner Program
Partner Indemnity
The Partner indemnifies and holds harmless Fairbanks, its directors, officers, employees, brokers and agents (collectively, "Indemnified Parties") from and against all claims, losses, damages, liabilities, costs and expenses (including legal costs on a solicitor-client basis) arising out of or in connection with: (a) any breach of these Terms by the Partner; (b) any negligent, reckless or unlawful act or omission by the Partner; (c) any misrepresentation made by the Partner to a client; (d) any breach by the Partner of their regulatory obligations; or (e) any claim by a client arising from the Partner's conduct.
10. Termination
Termination for Convenience
Either party may terminate this Agreement at any time by providing 7 days' written notice to the other party. Fairbanks may elect to waive this notice period at its discretion.
Immediate Termination
Fairbanks may terminate this Agreement immediately and without notice if the Partner commits a material breach, engages in prohibited conduct under clause 6, loses their professional licence, becomes insolvent, or acts in a manner that Fairbanks determines is contrary to its interests or reputation.
Upon termination (for any reason), Fairbanks has no obligation to pay Commission on any Referral that has not resulted in a Settled Loan at the date of termination, regardless of the stage of the application. Fairbanks retains absolute discretion to continue processing pipeline applications following termination and to retain the Commission arising therefrom.
Fairbanks also reserves the right, at any time and without notice, to:
- Suspend the Partner's access to any partner portal or tools
- Suspend or terminate the Referral Partner Program in its entirety
- Modify the eligibility criteria for the program
- Reassign pipeline referrals to another broker or partner at Fairbanks' sole discretion
11. Post-Termination Obligations
Upon termination of this Agreement, the Partner must immediately:
Destroy or return all Confidential Information, Fairbanks' branding materials, client data and any other materials provided by Fairbanks.
Cease using the Fairbanks name, logo, trademarks and any branding associated with the Referral Partner Program.
Cease introducing any new clients to Fairbanks through any channel, direct or indirect, unless a new agreement has been executed.
Remove all references to Fairbanks from the Partner's website, social media profiles, marketing materials and business collateral.
The Partner must not, for a period of 12 months following termination, directly or indirectly solicit, entice away, engage or employ any person who was an employee, broker, contractor or client of Fairbanks at any time during the 12 months prior to termination.
Clauses 7 (Confidentiality), 8 (Intellectual Property), 9 (Liability & Indemnity), 11 (Post-Termination), and 13 (Governing Law) survive the termination of this Agreement.
12. Amendments to These Terms
Fairbanks reserves the right to amend these Terms at any time. Amendments will be communicated to the Partner via email to the address provided in their Partner Application, or by publication on Fairbanks' website, with a minimum of 14 days' notice before taking effect.
The Partner's continued participation in the program after the effective date of any amendment constitutes acceptance of the amended Terms. If the Partner does not agree to any amendment, their sole remedy is to terminate this Agreement in accordance with clause 10 prior to the effective date of the amendment.
13. Governing Law & Dispute Resolution
This Agreement is governed by and construed in accordance with the laws of the State of Queensland, Australia. The parties irrevocably submit to the exclusive jurisdiction of the courts of Queensland, Australia, and any courts of appeal therefrom.
Step 1 — Good Faith Negotiation
The parties must attempt to resolve any dispute arising out of or in connection with this Agreement through good faith negotiation. A party claiming a dispute exists must notify the other in writing, and the parties must meet (in person or virtually) within 10 business days of that notice to attempt resolution.
Step 2 — Mediation
If negotiation fails within 20 business days, either party may refer the dispute to mediation through the Resolution Institute or a mediator agreed in writing by the parties. The costs of mediation are shared equally unless agreed otherwise.
Step 3 — Litigation
If mediation does not resolve the dispute within 30 business days, either party may commence legal proceedings in the courts of Queensland, Australia. Notwithstanding the foregoing, Fairbanks may at any time seek urgent interlocutory or injunctive relief without first complying with steps 1 or 2.
If any provision of this Agreement is found to be invalid, illegal or unenforceable, that provision is severed and the remaining provisions continue in full force and effect. Failure by Fairbanks to enforce any provision of these Terms does not constitute a waiver of that provision or Fairbanks' right to enforce it in the future.
14. Contact — Partner Relations
For any queries relating to these Terms, your Partner Application, Commission payments or the Referral Partner Program, please contact our Partner Relations team:
Ready to apply?
If you agree to these Terms and would like to join the Fairbanks Referral Partner Program, head back to the registration page and submit your application.
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