This sets out the terms and conditions for Connective members who sign up to the ACL Compliance Program.
The ACL Compliance Program is a monthly subscription offering. Fees are paid per active loan writer (Associate) within the Partner group. Subscription has a 6-month minimum sign-up period per loan writer.
As with your Connective membership monthly fee, the ACL Compliance Program fee will be charged as part of your monthly fee invoice.
Cancellation and refund policy
All services and collateral provided are the copyright property of Connective. We do not issue refunds after the service is provided.
The Service is provided under the terms and conditions of the Connective Full Member agreement.
Connective may terminate the ACL Compliance Program service it provides you in the following circumstances:
- by giving you at least 30 days prior written notice
- immediately if you become insolvent, bankrupt or such other equivalent event occurs, or
- immediately if you cease to be a member of Connective.
Subject to completion of the minimum 6-month period, you may terminate your ACL Compliance Program service by giving us at least 30 days prior written notice.
Other applicable terms and conditions
By subscribing, you:
- must use Mercury as your CRM and store all correspondence and compliance documentation relating to your client-loan file within an Opportunity in Mercury
- must use Connective compliance document templates.
- must use the Compliance Centre in Mercury to capture your Best Interests Duty requirements.
- acknowledge that the files reviewed are limited to consumer residential loans that are submitted through Apply Online (AOL).
- acknowledge that this ACL Compliance Program service is a targeted review focused on whether a loan file meets responsible lending and best interests duty obligations and is based on the information stored in your Mercury account. This Service will provide feedback regarding your governance policies and procedures. The Service does not absolve you of your responsibility for meeting your general conduct obligations or any other applicable legislation. Our service may identify corrective actions and recommendations to assist you in meeting your general conduct obligations. The ACL holder and full member retains overall responsibility for all actions (or inaction) of their loan writers and themselves.
- acknowledge and agree that Connective is not responsible for any loss or liability that you or your directors, employees, associates, contractors, or customers may suffer as a result of using this Service.
- acknowledge the terms and conditions are subject to change at Connectives discretion.
- agree to the terms and conditions of this Service.
ACL Compliance Program
ACL Compliance Program Q&A