Code of Practice & Disputes Resolution Service

Introduction

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Background of the FBAA

The activities of the FBAA originally commenced in 1992 as the Finance Brokers Association of Queensland Inc. The FBAA become a company listed guarantee in 1999 and in 2000 changed its name to the Finance Brokers Association of Australia Limited ACN 094 784 040. In 2001 it merged with the Finance Brokers & Mortgage Originators Association WA Inc. The Head Office is located at Unit 3, 31 Thompson Street, Bowen Hills Qld 4006.

Objectives of the FBAA

1. To support, protect and advance the character status and interests of the Finance Broking profession generally and particularly of Finance Brokers being members of the FBAA.
2. To promote honorable practice, to repress malpractice, to settle disputed points of practice and to decide all questions of professional usage, etiquette or courtesy and all disputes between or amongst Finance Brokers.
3. To consider all questions affecting the interests of the Finance Broking profession and to initiate, promote, watch over and consider and if necessary to petition Parliament and organise deputations in relation to measures for the protection and the advancement of the Finance Broking profession and of Finance Brokers and general measures whether legislative or otherwise affecting the profession of Finance Broking and to procure improvements and promote uniformity in the principles, methods and practices of Finance Broking.
4. To promote, prescribe or adopt certification standards and classification of attainments and qualifications of Finance Brokers, for such purposes as to conduct examinations and other tests in the theory and practices of the finance industry and other subjects and to prescribe and receive fees for such examinations and tests and to grant diplomas and confer qualifications to designate the standard and status of Finance Brokers and in particular members of the association.
5. To provide, maintain, extend and improve a library or libraries containing technical literature and such other literature as may be of interest to Finance Brokers and to acquire, preserve and disseminate information and statistics concerning or relating to the principles and practices of the finance industry and other matters of interest to Finance Brokers.
6. To encourage the development or study of the finance industry and for these purposes from time to time to donate and to encourage the donation on such terms and conditions as may from time to time be determined or prescribed including the provision of a prize or prizes or other rewards or distinctions.
7. To promote information on the finance industry and other subjects of interest or value to Finance Brokers by lectures, discussions, books, correspondence with public and other bodies and individuals or otherwise.
8. To act as an intermediary for dispute resolution between Finance Brokers and their Clients.
9. To assist members with the running of their business's where possible, including provision of standard forms and procedures.

Categories of Membership of the FBAA

Accredited Member:
Available to an approved individual, company or partnership carrying on the business of a general finance broker, mortgage originator, mortgage manager, or equipment finance broker and includes independently owned businesses operated under a franchise agreement or subcontract arrangement with an aggregator. This category carries full voting rights.

Accredited Member - Branch Office:
Available to branches of Accredited Members. This category offers Accredited Members one vote per State in States where a Branch Office is located at State Council meetings. No vote is available at National Council meetings for a Branch Office member.

Associate Member:
FBAA Associate Membership is available to approved employees and exclusive subcontractors of Accredited Members and includes retired members wishing to remain involved in and informed of the FBAA's activities. This category carries full voting rights.

Corporate Member:
Available to approved non-broking entities associated with the finance industry and includes CREDIT PROVIDERS (Banks, Building Societies, Credit Unions) MORTGAGE INSURERS, MORTGAGE MANAGERS, FUND MANAGERS, TRUSTEE COMPANIES ETC. This category has full voting rights.

Special Recognition:
(i.e. Industry Platinum / Gold / Silver / Bronze Class) is available to FBAA Corporate Members associated with the finance industry who whish to support and work with the FBAA in its aims and objectives throughout the entire year. For more information contact the FBAA National Office.

Affiliate Member:
Available to approved individuals and entities not covered by the Corporate Membership category and includes Government agencies, suppliers, other Associations and anyone wanting to remain informed of the FBAA's activities. This category carries no voting rights.

Life Member:
This membership category is granted to a person who has been appointed as such by the Directors from time to time for meritorious service to the FBAA and who has served in a senior administrative position for a period of 5 years (which need not be a consecutive period).

Fellow:
This membership category is granted to a person who has been appointed as such by the Directors from time to time for meritorious service to the FBAA.
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