This Commissions Guide article relates to Macquarie Commercial loans. Articles related to other Macquarie products can be found here:
Connective will maintain this guide to the best of its ability but cannot guarantee that the information within is complete, and/or in line with the latest guidance and policies of the lender. If you believe anything is missing or inaccurate, please contact us.
Contents:
Commission Rates
Loan Limit | Upfront (Initial Fee) | Trail |
Less than $500,000 | Nil | Nil |
$500,000 to $3 million | Negotiate on each Loan to a maximum of 0.55% (inc GST) of the approved credit limit of the referred loan at the time of settlement of the referred loan | Negotiate on each loan to a maximum of 0.33% (inc GST) per annum of the average daily balance of the loan, calculated monthly and payable in arrears. |
Greater than $3 million | The Upfront (Initial Fee) is negotiated on each loan subject to a minimum of $15,000. | Negotiable on each loan to a maximum of 0.33% (inc GST) per annum of the average daily balance of the loan, calculated monthly and payable in arrears. |
For Revolving Line of Credit and Overdraft products an Upfront (Initial Fee) is not payable.
For the Upfront (Initial Fee) to be paid, the minimum drawdown must be equal to, or greater than 50% of the approved credit limit of the referred loan at the time of settlement.
For Bank Guarantees a trailer fee is not payable.
The Trail Fee is not payable when the principal amount of the New Product Loan is below AUD$10,000
Macquarie will pay a Variation Fee for each loan where there has been a principal increase in respect of a commercial loan: an amount equal to the Initial Fee that would have been payable if the Referred Variation had been a newly referred loan.
Where a Consumer Loan (home Loan) product is part of a Commercial transaction upfronts and trail are payable on that portion of the loan in accordance with Upfront and Trail detailed above under Residential Home Loans.
Variations
A Variation fee is calculated for each completed referred variation which increase the loan principal amount as follows:
If the referred variation increases the New Product amount by less than or equal to $100,000, amount paid to the broker is AUD$220 (incl. GST)
If the referred variation increases the New Product amount by greater than $100,000, the amount paid to the broker will be an amount equal to the Upfront (Initial Fee) that would have been payable in accordance with the above if the referred variation had been a New Product loan equal to the increase in the loan amount.
Fees for a Product Change from an Existing Product to a New Product
The Product Change Upfront (Initial Fee) in respect of all Business Banking New Products is the Upfront (Initial Fee) percentage in tables above of the difference between the amount advanced (drawn down) during the month on the New Product, and the original limit of the Existing Product Loan introduced under a prior agreement.
The Product Change Trail Fee for each New Product Loan, for each calendar month is the trail fee described in the tables above.
Variation of Existing Products (under a Prior Agreement)
The Upfront (Initial Fee), trail and Variation Fees in respect of all Existing Products introduced under a Prior Agreement (and in absence of any product change to a New Product as contemplated above) will continue to be paid in accordance with the Prior Agreement.
Clawbacks
Period | % Clawback |
0-6 Months (specifically 183 days) | 100% |
7-12 Months (specifically 365 days) | 75% |
13-17 Months (specifically 548 days) | 50% |
Clawback on the Upfront (Initial Fees) in respect of all Existing products introduced under a Prior Agreement (and in the absence of any product change to a New product as contemplated above) will continue to be refunded (Clawback) in accordance with the prior agreement.