These terms and conditions constitute a contract between brokers who use the Omicron platform (“Broker”) and Omicron Mortgages P/L (“Omicron”).
- The Broker must not look to Omicron for any losses they incur as a result of using the platform. While Omicron provides tools to assess the integrity and competence of Lenders no warranty is given. Omicron disclaims all liability for the actions of Lenders and for the appropriateness of having them registered to the platform. The software is designed to weed out bad eggs, not to prevent them from becoming registered in the first place. Therefore it is to be expected deficient Lenders will make it onto the platform. Moreover the software may be flawed in design, concept or code, and it is anticipated that it will take many years to hone and perfect it. The Broker acknowledges all this and and agrees to hold Omicron safe from losses incurred as a result of brokering through the platform.
. - Sometimes emotions run hot in relation to a difficult settlement and Omicron reserves the right, in the interests of all parties concerned, to delete adverse reviews or ratings, if after investigation, and in view of the lender’s, solicitor’s or broker’s previous good track record such review or rating is, in our judgment unwarranted or unfair. Such interventions are not taken lightly and are only made after due consideration and in good faith. The Broker understands this practice occurs and absolves Omicron of all liability in relation to the same.
. - Omicron reserves the right to suspend the Broker’s profile, temporarily or permanently, so as to prevent their attribution to new loans. The Broker’s profile will remain in place and previously attributed loans will remain on display (unless they are found to systemically erroneous). At Omicron’s option the identifying details on the Broker’s profile can be altered to Former platform member.
. - The Broker must at all times act in an ethical and professional fashion.
. - The Broker must not pitch deals to an lender on the platform (“Lender”) without having first obtained the borrower’s written mandate.
. - The Broker must make full disclosure to the Lender of any facts known to the Broker, or reasonably suspected by the Broker, which might reasonably be expected to influence the Lender’s decision to invest.
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