This Clawback Schedule relates to Connective Asset Finance Lenders. Off-panel lenders are excluded from this article.
Note: In the event that VBI (Volume Bonus) commissions are clawed back, Connective will only reclaim the VBI share that was paid to the broker.
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.
Lender | Policy |
Alex Bank | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Arrears 100%: 90 days+ between 0 - 6 months 50%: 90 days+ between 6 - 12 months
Write-off 100%: 0 - 6 Months 50%: 6 - 12 Months
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Angle Finance | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Termination 100%: 0 - 3 Months 50%: 3 - 6 Months
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ANZ | Contact Lender |
Australian Motorcycle and Marine Finance/ Yamaha | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Write-off 100%: 0 - 24 Months |
Automotive Financial Services / AFS | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 90 days Pro-rata: 90 - 180 days
Write-off 100%: 0 - 12 Months |
Azora Finance | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months
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Banjo | Contact Lender |
Bank of Queensland | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months |
Bank of Queensland – Specialist Pty Ltd | Contact Lender |
Branded Financial Services | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Terminated or Write-off 100%: 0 - 24 Months
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Capital Finance | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Default 100%: 0 - 3 Months
Fraudulent 100% of Commission |
Commonwealth Bank | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Refinance or Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Arrears 100%: between 2 - 12 months
Write-off 100%: 0 - 24 Months |
Dynamoney | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Terminated 100%: 0 - 6 Months 50%: 6 - 13 Months
|
Earlypay | Contact Lender |
Finance One - Consumer | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Arrears 100%: 90 days+ between 0 - 6 months 50%: 90 days+ between 6 - 12 months
Repossession or Write-off 100%: 0 - 6 Months 50%: 6 - 12 Months
Fraudulent Loans 100%: 0 - 12 Months
The following applies to Origination Commissions:
Write-off 100%: 0 - 6 Months 50%: 6 - 12 Months
Fraudulent Loans 100%: 0 - 12 Months
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Finance One - Commercial | The following applies to VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Arrears 100%: 90 days+ between 0 - 6 months 50%: 90 days+ between 6 - 12 months
Repossession 100%: 0 - 6 Months 50%: 6 - 12 Months
Fraudulent Loans 100%: 0 - 12 Months
Write-off 100%: 0 - 12 Months
The following applies to Brokerage Commissions:
Write-off 100%: 0 - 12 Months
Fraudulent Loans 100%: 0 - 12 Months
The following applies to Origination Commissions:
Fraudulent Loans 100%: 0 - 12 Months |
Firstmac | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months |
FlexiCommercial | The following applies to Brokerage Commissions:
Early Payout 25%: 0 - 12 Months
Arrears 100%: 30 days+
Ineligible Transactions (Fraudulent, Default, Misrepresentation etc.) 100% of Commission
The following applies to VBI (Volume Bonus) Commissions:
Arrears or Default 50%: 90 days+ between 0 - 90 days 25%: 90 days+ between 90 - 180 days
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Grenke | The following applies to VBI (Volume Bonus) Commissions:
Default 100% of Commission |
Iron Capital | Contact Lender |
Judo Asset Finance | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Fraudulent 100% of Commission |
Latitude Financial Services | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout or Cancelled 100%: 0 - 6 months 75%: 6 - 9 months 50%: 9 - 12 months |
Lumi | Contact Lender |
Medfin | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 12 months 50%: 12 - 24 months
Termination 100%: 0 - 12 months |
Metro | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout Contact Lender
Arrears 100%: Between 0 - 12 months |
Money 3 | Contact Lender |
Money Me / AutoPay / Society One | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Default 100%: 0 - 3 Months
Fraudulent 100% of Commission |
MoneyTech | Contact Lender |
NAB | The following applies to VBI (Volume Bonus) Commissions:
Terminated 100%: 0 - 12 Months |
Now Finance (Personal & Motor) | The following applies to Brokerage Commissions:
Early Payout 100%: 0 - 6 months 50%: 6 - 12 months |
OnDeck Capital | Contact Lender |
Pepper | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 months 50%: 6 - 12 months
Write-off 100%: 0 - 24 months |
Plenti (Personal) | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 months 50%: 6 - 12 months |
Plenti (Motor) | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 months 50%: 6 - 12 months
Write-off 100%: 0 - 24 months
Refinance 100%: 0 - 12 months from drawdown
First Payment Default 100%
|
Prospsa | Contact Lender |
Resimac | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 12 Months 50%: 12 - 24 Months
Arrears 100%: 90 days+ between 0 - 12 months 50%: 90 days+ between 12 - 24 months
Write-off 100%: 0 - 12 Months 50%: 12 - 24 Months
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Scottish Pacific | The following applies to Brokerage Commissions:
Early Payout 100%: 0 - 12 months 50%: 12 - 18 months |
Selfco Leasing | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Default 100%: 0 - 6 Months 50%: 6 - 12 Months
Misleading or Fraudulent 100% of Commissions |
Shift | Contact Lender |
Westpac Equipment Finance | The following applies to VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months
Write-off 100% of Commissions |
Wisr | The following applies to Brokerage and VBI (Volume Bonus) Commissions:
Early Payout 100%: 0 - 6 Months 50%: 6 - 12 Months
Arrears 100%: 90 days+ between 0 - 6 months 50%: 90 days+ between 6 - 12 months
Write-off or Repossession 100%: 0 - 6 Months 50%: 6 - 12 Months
Default 100%: 0 - 6 Months 50%: 6 - 12 Months
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