Credit Broker Agreement

1. Definitions

• "Cocofinance," "we," "us," or "our" refers to Cocofinance (Pty) Ltd
• "Broker," "you," or "your" refers to the registered credit broker
• "Client" refers to borrowers referred by the Broker
• "Agreement" refers to this Credit Broker Agreement
• "Services" refers to credit brokerage services provided under this Agreement
• "Portal" refers to the Cocofinance Broker Portal platform

2. Broker Registration and Qualification

2.1 Eligibility Requirements

To become a registered Cocofinance broker, you must:

• Be at least 21 years of age
• Be a South African citizen or permanent resident
• Have a valid South African ID
• Be registered with the National Credit Regulator (NCR) as a credit provider or debt counselor (preferred)
• Have relevant experience in financial services or credit industry
• Pass our background and credit checks
• Complete required training and certification
• Not have any criminal convictions related to fraud or financial crimes

2.2 Application Process

Your broker application will be reviewed based on:

• Completeness and accuracy of application
• Industry experience and qualifications
• Credit and background check results
• References and professional history

Approval typically takes 5-10 business days. We reserve the right to reject applications at our sole discretion.

3. Scope of Services

3.1 Broker Responsibilities

As a Cocofinance broker, you agree to:

• Promote Cocofinance loan products to potential clients
• Assist clients with loan application completion
• Gather and verify required documentation
• Submit complete applications through the Broker Portal
• Provide accurate and truthful information
• Maintain client confidentiality and data protection
• Act in the best interests of clients
• Comply with National Credit Act (NCA) requirements

3.2 What Brokers May NOT Do

You may not:

• Make false or misleading statements about loan products
• Guarantee loan approval or specific terms
• Charge clients fees for referrals or applications
• Access or use client information for unauthorized purposes
• Share your broker portal login credentials
• Represent other lenders without disclosure
• Engage in any fraudulent or unethical practices

4. Commission Structure

4.1 Commission Rates

Brokers earn commission on successfully approved and disbursed loans:

• Payday Loans: 5% of loan amount
• Bridging Loans: 3% of loan amount
• Business Loans: 4% of loan amount

Commission rates are subject to change with 30 days' notice.

4.2 Commission Payment Terms

Commission payments are made:

• Upon successful loan disbursement to the client
• Monthly, on the 15th of each month
• Via EFT to your registered bank account
• With a minimum payout threshold of R500

4.3 Commission Clawback

Commission may be clawed back if:

• The client defaults within the first 30 days
• Fraudulent information is discovered
• The loan is cancelled or reversed

5. Broker Portal Access

5.1 Portal Features

The Broker Portal provides:

• Client management system
• Application submission and tracking
• Commission reporting and statements
• Document upload functionality
• Real-time application status updates
• Performance metrics and analytics

5.2 Portal Security

You are responsible for:

• Maintaining confidentiality of login credentials
• Implementing secure access controls
• Logging out after each session
• Reporting any security breaches immediately
• Not sharing account access with unauthorized persons

6. Compliance and Regulatory Requirements

6.1 National Credit Act Compliance

You must comply with all NCA requirements, including:

• Conducting affordability assessments
• Providing pre-agreement statements
• Ensuring responsible lending practices
• Maintaining accurate records
• Protecting consumer rights

6.2 FICA Requirements

You must adhere to Financial Intelligence Centre Act requirements:

• Verify client identity (Know Your Customer)
• Conduct due diligence checks
• Report suspicious transactions
• Maintain audit trails

6.3 POPIA Compliance

You must protect client personal information according to POPIA:

• Collect only necessary information
• Secure client data appropriately
• Use information only for authorized purposes
• Obtain consent where required
• Report data breaches within 24 hours

7. Training and Support

7.1 Initial Training

All new brokers must complete:

• Product knowledge training
• Portal navigation tutorial
• Compliance and regulatory training
• Ethics and best practices module

7.2 Ongoing Support

We provide:

• Dedicated broker support line: 071 700 1758
• Email support: brokers@cocofinance.co.za
• Monthly webinars and updates
• Marketing materials and resources
• Performance coaching (for top performers)

8. Performance Standards

8.1 Quality Metrics

We monitor broker performance based on:

• Application quality and completeness
• Approval rate of submitted applications
• Client satisfaction scores
• Default rates of referred clients
• Compliance with policies and procedures

8.2 Performance Reviews

We conduct:

• Monthly performance reports
• Quarterly performance reviews
• Annual broker evaluations

8.3 Consequences of Poor Performance

Consistent poor performance may result in:

• Additional training requirements
• Reduced commission rates
• Suspension of broker privileges
• Termination of this Agreement

9. Marketing and Branding

9.1 Use of Cocofinance Brand

You may:

• Use approved Cocofinance marketing materials
• Identify yourself as an authorized Cocofinance broker
• Display Cocofinance logos per brand guidelines

9.2 Marketing Restrictions

You may not:

• Modify Cocofinance logos or branding
• Make unauthorized claims about products
• Create misleading advertisements
• Use Cocofinance branding after termination

10. Confidentiality

10.1 Confidential Information

You must maintain confidentiality of:

• Client personal and financial information
• Cocofinance business processes and procedures
• Commission structures and financial arrangements
• Proprietary systems and technology
• Trade secrets and competitive information

10.2 Duration of Confidentiality

Confidentiality obligations continue:

• During the term of this Agreement
• For 5 years after termination
• Indefinitely for client personal information

11. Term and Termination

11.1 Agreement Term

This Agreement:

• Begins upon your approval as a broker
• Continues indefinitely until terminated
• May be renewed annually with updated terms

11.2 Termination by Broker

You may terminate this Agreement:

• With 30 days' written notice
• After fulfilling all pending obligations
• Subject to final commission settlement

11.3 Termination by Cocofinance

We may terminate this Agreement immediately if:

• You violate terms of this Agreement
• You engage in fraudulent activity
• You fail compliance or regulatory requirements
• Your NCR registration is revoked
• You provide false information

11.4 Effects of Termination

Upon termination:

• Broker portal access will be revoked
• Outstanding commissions will be settled within 30 days
• All Cocofinance materials must be returned
• You must cease representing Cocofinance
• Confidentiality obligations continue

12. Liability and Indemnification

12.1 Broker Liability

You are liable for:

• Accuracy of information provided
• Compliance with all applicable laws
• Your own negligence or misconduct
• Breaches of this Agreement

12.2 Indemnification

You agree to indemnify Cocofinance against:

• Claims arising from your breach of this Agreement
• Your violation of laws or regulations
• Negligence or willful misconduct
• False or misleading statements to clients

12.3 Limitation of Liability

Cocofinance is not liable for:

• Loan approval decisions
• Changes to commission structure
• Technical issues with the Portal
• Loss of potential commissions

13. Dispute Resolution

13.1 Internal Resolution

Disputes should first be addressed through:

• Direct communication with broker support
• Escalation to broker management
• Formal written complaint process

13.2 Mediation

If unresolved, disputes will be submitted to:

• Independent mediation
• Mediation costs shared equally
• Good faith participation required

13.3 Arbitration and Legal Action

If mediation fails:

• Disputes may be submitted to arbitration
• South African law governs this Agreement
• South African courts have exclusive jurisdiction

14. General Provisions

14.1 Independent Contractor

You are an independent contractor, not an employee. This Agreement does not create:

• An employment relationship
• A partnership or joint venture
• An agency relationship (except as specifically authorized)

14.2 Amendments

We may amend this Agreement:

• With 30 days' written notice
• Posted on the Broker Portal
• Continued participation constitutes acceptance

14.3 Entire Agreement

This Agreement:

• Constitutes the entire agreement between parties
• Supersedes all prior agreements
• May only be modified in writing

15. Contact Information