This Commissions Guide article relates to Deposit Power Bonds.
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
Product | Upfront |
Short-Term Deposit Power Guarantee (STDPG) | 25% of the STDPG Fee |
Long-Term Deposit Power Guarantee (LTDPG) | 20% of the LTDPG Fee |
Deposit Power will only pay a commission in respect of STDPG or LTDGP fees after it has received those fees.
Notes & Definitions
LTDPG means a Long-Term Deposit Power Guarantee issued for a term greater than 6 months but not greater than 48 months.
STDPG means a Short-Term Deposit Power Guarantee issued for a term of no greater than 6 months.
Clawbacks
If the Deposit Bond applicant cancels a DPG application or returns a DPG and Deposit Power refunds any part of the DPG Fee, Deposit Power will be entitled to receive a refund of the commission paid to the broker.