A Loan Referral Agreement is essential for financial institutions in Indonesia seeking to expand their lending business through third-party referral channels. This document is typically used when a lender wishes to formalize arrangements with individuals or companies who will refer potential borrowers, setting out clear terms for referral services, compensation, and regulatory compliance. The agreement must align with Indonesian Financial Services Authority (OJK) regulations, banking laws, and data protection requirements. It includes specific provisions for referral fee structures, lead qualification criteria, confidentiality obligations, and compliance procedures. This type of agreement is particularly relevant in the growing Indonesian fintech sector and traditional banking channels where referral networks play a crucial role in customer acquisition.
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1. Parties: Identifies the contracting parties - typically the referrer and the lending institution
2. Background: Sets out the context of the agreement, including the lender's business, referrer's capabilities, and intention to establish a referral relationship
3. Definitions: Defines key terms used throughout the agreement, including 'Referral Services', 'Qualified Leads', 'Confidential Information', etc.
4. Appointment and Scope: Establishes the referrer's appointment and defines the scope of referral services
5. Referrer's Obligations: Details the referrer's duties, including lead qualification criteria, information collection, and compliance requirements
6. Lender's Obligations: Outlines the lender's responsibilities regarding lead processing, communication, and support
7. Compensation: Details the referral fee structure, payment terms, and calculation methods
8. Compliance Requirements: Specifies compliance with OJK regulations, banking laws, and other applicable Indonesian regulations
9. Representations and Warranties: Contains standard and specific warranties from both parties
10. Confidentiality: Addresses the handling of confidential information and data protection requirements
11. Term and Termination: Specifies agreement duration and termination provisions
12. General Provisions: Contains standard legal provisions including governing law, dispute resolution, and notices
1. Marketing and Branding: Include when the referrer will use the lender's branding or conduct marketing activities
2. Training Requirements: Include when the referrer's staff need specific training on loan products
3. Service Levels: Include when specific performance metrics or response times are required
4. Technology Integration: Include when the parties will use integrated systems or platforms
5. Anti-Bribery and Corruption: Include for higher-risk relationships or when dealing with government-linked entities
6. Force Majeure: Include when specific force majeure provisions beyond standard ones are needed
7. Insurance Requirements: Include when specific insurance coverage is required from the referrer
1. Schedule 1 - Referral Fee Structure: Detailed breakdown of commission rates, payment tiers, and calculation methods
2. Schedule 2 - Loan Products: Description of loan products eligible for referral
3. Schedule 3 - Referral Procedures: Detailed operational procedures for making and processing referrals
4. Schedule 4 - Compliance Requirements: Specific regulatory requirements and compliance procedures
5. Schedule 5 - Required Information: List of required information to be collected from potential borrowers
6. Appendix A - Reporting Templates: Standard templates for referral reporting and tracking
7. Appendix B - Marketing Guidelines: Guidelines for use of lender's brand and marketing materials if applicable
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