Introducer Arrangement

Introduction

The success of our Introducer arrangement with our partner can only be possible if you have a positive and rewarding experience with our services.

Objectives

1.To introduce PropNex Salespersons’ Clients to a wide range of Financial Services such as Insurance and Investments.

2.To help Financial Consultants and PropNex Salespersons understand the requirements under the Financial Adviser Act.

3.To ensure proper and timely payment of Introducer fees to PropNex Salespersons.

Establishing working relationship between Financial Consultants and PropNex Salespersons

Example of an Introducing Activity process:

Step 1:

Salesperson knows of someone who just bought a property and needs mortgage insurance.

Step 2:

Salesperson will obtain Client's consent before informing SingCapital Pte Ltd through email.

Step 3:

Financial Consultant will contact Client for a fact-find discussion.

Step 4:

The Financial Consultant will provide appropriate recommendations and proceed with the sale (if any).

Step 5:

Financial Consultant will notify Salesperson of the completion of application or transaction.

Step 6:

Introducer Fee will be paid to Salesperson after policy has been incepted.

Remuneration

The Company will pay a one-time introducer fee arising from the introduction of the Client to The Company, which may be amended at any time by The Company at its sole discretion by giving thirty days written notice to the Introducer. Please note that only first-year premiums are eligible for Introducer Fees.

Introducer fees are payable only for completed sales after product’s free-look period. No fees will be payable for merely introducing people if no sales are made. You will be notified once the Introducer Fee is paid to your bank account.

Introducer Fees are calculated based on the recommended percentage against Gross Commission.

The Dos and Don’ts

Please be informed that PropNex’s Salespersons are not MAS licensed Representatives and will not be allowed to provide any form of financial advice or recommendation to clients.

Dos

  • Disclose to clients your relationship with SingCapital.

  • Use script provided in Annex A when introducing your prospects to SingCapital.

  • Provide factual information about SingCapital and the Financial Services we provide.

  • Fees received for successful introduction; if required, please disclose the amount received.

  • Obtain Clients’ consent before providing their information to SingCapital.

  • May use Introducer Arrangement Client Consent Form.

Don'ts

  • Not allowed to give advice or provide recommendations on financial products.

  • Not allowed to deal with client’s money or property, in relation to their introducing activities.

  • Not allowed to transacting on behalf of Financial Consultant.

Personal Data Protection Act

The Introducer undertakes that:

a) Any Client that is introduced to SingCapital Pte Ltd has been notified of the purpose of the collection, use and disclosure of his/her personal data to the company.

b) The Client has consented to the collection, use and disclosure of his/her personal data to SingCapital Pte Ltd and that proof of such consent may be produced by the Introducer upon reasonable request from SingCapital Pte Ltd.

c) The Introducer shall comply with the PDPA and all subsidiary legislation related thereto.

Introducer’s personal data collected by SingCapital Pte Ltd will be used for identification purposes in all our administration.

Request for Allocation of SingCapital Pte Ltd Financial Consultants

After obtaining the Client’s consent, Salespersons may simply send an email to SingCapital Pte Ltd at [email protected] requesting for allocation of Financial Consultants to service their clients.

SCRIPT FOR INTRODUCER

I am an appointed Introducer for SingCapital Pte Ltd.

I am not a Financial Adviser Representative and I cannot advise you on any Financial products or services. However, I would like to introduce you to SingCapital Pte Ltd, a Financial Adviser Firm licensed by MAS. You can visit www.singcapital.com.sg for more information.

[Financial Representative], who is a MAS licensed Financial Representative from SingCapital will be advising you. There is no obligation on your part.

If you find that he/she can be of service to you, I can arrange an appointment with him/her and be present to introduce you. Alternatively, I can get him/her to contact you directly for an appointment.

If it is alright with you, I will provide your particulars to SingCapital for them to contact you.

I also would like to inform you that SingCapital will be giving me an Introducer fee.

Only if requested. The Introducer fee is:

[Agreed] % of commission for Life Insurance Products / Collective Investment Schemes.