Mentorship agreement template with key terms and conditions
The following Mentorship agreement template is designed to establish a clear and mutually beneficial agreement between mentors and mentees participating in the new MFAA mortgage broker mentoring program. Please note that this template is provided for informational purposes only and should not be considered legal advice. We recommend that broker partners consult with a qualified lawyer to draft a legally binding contract that meets their specific needs and complies with any applicable regulations.
Agreement between a mentor and mentee
This Mentorship Agreement (the "Agreement") is made as of [Date], by and between [Mentor's Full Name] ("Mentor") and [Mentee's Full Name] ("Mentee") (collectively, the "Parties")
WHEREAS, Mentor is an experienced mortgage broker and a registered mentor with the Mortgage and Finance Association of Australia (MFAA);
WHEREAS, Mentee is a new entrant to the mortgage broking industry and wishes to receive guidance and support from Mentor in accordance with the terms and conditions of this Agreement;
NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties agree as follows:
Term and Termination
The term of this Agreement shall commence on [Start Date] and continue for a period of  months (the "Term"), unless terminated earlier in accordance with the terms of this Agreement.
Scope of Services
Mentor agrees to provide guidance, support, and assistance to Mentee in the areas of industry regulations, product knowledge, sales and marketing strategies, professional development, and networking opportunities.
Fees and Payments
- Monthly Fixed Fee Model: Mentee shall pay Mentor a fixed fee of $400 per month (GST exclusive).
- Commission Split Model: Mentee shall pay Mentor 20% of the upfront commission earned on each completed mortgage transaction during the Term.
Mentee shall pay Mentor for the mentorship services in accordance with the fee model selected by Mentee:
Both Parties agree to maintain the confidentiality of any proprietary or confidential information disclosed by one Party to the other during the course of the mentorship, except as required by law or as authorized in writing by the disclosing Party.
Any materials, documents, or other intellectual property created or provided by Mentor during the Term shall remain the property of Mentor, and Mentee shall have a non-exclusive, non-transferable license to use such materials solely for the purpose of the mentorship.
Liability and Indemnification
Each Party shall indemnify, defend, and hold harmless the other Party from and against any and all claims, damages, losses, or expenses arising from the indemnifying Party's negligence, willful misconduct, or breach of this Agreement
Governing Law and Jurisdiction
This Agreement shall be governed by and construed in accordance with the laws of [State or Territory], Australia. Any disputes arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of [State or Territory], Australia.
This Agreement constitutes the entire understanding and agreement between the Parties with respect to the subject matter hereof and supersedes any prior or contemporaneous oral or written agreements or understandings.
Amendment and Waiver
This Agreement may only be amended or modified by a written document signed by both Parties. No waiver of any provision of this Agreement shall be effective unless in writing and signed by the Party against whom the waiver is sought to be enforced.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
Full name: [Mentor]
Full name: [Witness]
Full name: [Mentee]
Full name: [Witness]