Mentorship program for mortgage brokers: Suggested Cancellation, Suspension, Termination, and Refund Policy
Cancellation, Suspension, Termination, and Refund Policy outlined below aims to provide some suggestions in handling changes to mentoring relationships. This guide covers the procedures for cancellations, suspensions, terminations, and refunds. It is important to note that this template serves as a guide only, and broker partners should make any necessary adjustments to align with their specific requirements. Be sure to consult with a legal professional to ensure compliance with any applicable regulations.
- Notice period: If a mentee wishes to cancel their participation in the mentoring program, they must provide written notice at least 30 days prior to the intended cancellation date.
- Full refund: If the cancellation request is made within the first 14 days of the mentorship program, the mentee will be eligible for a full refund of any fees paid, minus any costs already incurred by the mentor.
- Partial refund: If the cancellation request is made after the initial 14 days, the mentee may be eligible for a partial refund, based on the remaining duration of the mentorship program and any outstanding services to be provided. Refunds will be determined on a case-by-case basis.
- Reasons for suspension: A mentee's participation in the mentoring program may be suspended if they breach the terms of the mentorship agreement, fail to meet program requirements, or engage in unprofessional conduct.
- Process for reinstatement: To be reinstated in the program after a suspension, the mentee must demonstrate that they have addressed the issue that led to the suspension and provide assurance that they will adhere to the program's terms and conditions moving forward.
- Grounds for termination: The mentorship agreement may be terminated by either party if there is a material breach of the agreement, repeated failure to meet program requirements, or engagement in serious misconduct.
- Notice period: A written notice of termination must be provided at least 30 days prior to the intended termination date, detailing the reasons for termination and any steps taken to address the issue(s) before termination.
- Final payment: In case of termination, the mentee will be responsible for any outstanding fees due up to the termination date.
- Eligibility for refunds: Refunds will only be issued under certain conditions, such as when a mentee cancels their participation within the first 14 days of the program or when a mentor is unable to provide the agreed-upon services.
- Process for requesting a refund: To request a refund, the mentee must submit a written request to the mentor, detailing the reasons for the refund request and providing any relevant supporting documentation.
- Evaluation of refund requests: Refund requests will be evaluated on a case-by-case basis, taking into consideration the specific circumstances of each situation. The mentor will notify the mentee of the decision within 14 days of receiving the refund request.