This article contains information on how to resign your Agreement with Connective. If your query relates to resigning a loan writer, please refer to the article: How to resign a Loan Writer

Notice Period

If you intend on ceasing your business arrangements with Connective, there is a requirement to provide us with 30 days notice under terms of the Full Member Agreement.

Providing Notice

Please contact your Partnership Manager or Connective Asset Finance BDM if you intend to cease business arrangements with Connective.

Cancelling or Extending the Resignation Period

If you would like to cancel a resignation or extend your 30 day notice period, please notify us in writing at least 2 business days prior to the effective resignation date. Connective is unable to reverse your resignation once it has been completed and it is important your customers are not impacted if you have applications in progress.

File Reviews

Connective will undertake a compliance review of consumer loan files for all active associate members to ensure compliance with NCCP and Connective requirements. Any corrective actions arising from these reviews must be completed prior to the finalisation of your resignation.

Reference Check

If you are moving to a new Aggregator and/or Australian Credit Licensee who will require a reference under ASIC's reference checking and information sharing protocol, requests should be directed to [email protected].

Membership Fees

The membership fee invoice will be pro-rated for the new billing month up to the effective resignation date. For more information, please refer to this article: Understanding your Connective Fees.
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You will receive an invoice for unbilled CashDeck retrieval usage (if applicable) during the resignation notice period. This invoice will be sent directly to the invoice recipient on your account.

Commissions Management Account

On completion of your resignation, if you are currently receiving trail commissions, your account will be moved into Commission Management. The monthly Commission Management fee is calculated at 2.4% +GST of your total net trail including payee splits. The minimum fee is $80 +GST and the maximum fee is $500 +GST. This fee will be deducted directly from your commissions entitlements and will be reflected on the RCTI.
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If you choose to use Connective for Commission Management Services as outlined above, you will be able to access the Commissions Tab in Mercury.
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If you wish to transfer your trail commissions, please contact [email protected]

Professional Indemnity Insurance (PI)

If your business will continue to operate with another licensee/aggregator you will need to make suitable alternative arrangements by the date of resignation to ensure you have ongoing cover in place.

If you are ceasing to operate your business you will automatically have suitable run-off cover which is part of Connective's group PI insurance policy. This will ensure you are adequately covered for events that have occurred whilst you were a broker but arise after your resignation.

If you have any question relating to the resignation process, please contact [email protected].