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Signing an agency agreement

Source: Real Estate Agents Authority – Press Release/Statement:

Headline: Signing an agency agreement

Summary of important things to know

  • An agency agreement is a legally binding contract between you, the seller of the property, and a real estate agency.

  • Sole agency agreements and general agency agreements allow different things.

  • You can negotiate what’s in an agency agreement, including the timeframe it covers, how much commission you’ll pay and any expenses you’ll pay.

  • You need to read and understand the agency agreement, and you should also get legal advice before you sign it.

  • Your real estate agent must tell you about any rebate, commission or discount they receive in connection with any work they do for you.

  • It’s important to check that your agent is licensed. Use REA’s public register to check their details and see if they’ve had any complaints upheld against them in the last 3 years.

  • If you deal with an unlicensed person, the Real Estate Authority won’t be able to help you if things go wrong.

  • Remember, the real estate agent works for you, the seller, and you pay them for their services. Make sure you’re happy with their approach before you decide to sign an agreement with them. If you are unsure about any terms in the agency agreement, seek independent legal advice.

  • It is important to tell the agent everything you know about the property because an agent is required to disclose known defects of a property to a potential buyer. An agent may cancel an agency agreement if you instruct them not to disclose known defects.

  • Agents must give you a copy of REA’s agency agreement guide before you sign an agency agreement.

What an agency agreement is

An agency agreement is a legally binding contract between you and the real estate agency that helps to sell your property. An agency agreement gives the agency the right to market your property for sale.

The agreement sets out all the terms and conditions of your contract such as what your agent will do for you and what you’ll pay them. If you use an agency to sell your property, you must sign an agreement with them first.

While an individual agent may sign you up, your contract is between you and the agent or agency they work for. Depending on the conditions of the agency agreement, once you’ve listed your property, any agent in the agency can try to sell it.

What the agent should tell you before you sign

A written estimate of your sale price

This is the agent’s best estimate of the price they expect your property could sell for, based on sales of similar properties in your area. This is referred to as an appraisal or a current market appraisal (CMA).

How they recommend selling your property

They should recommend the best way of selling your property, for example, by advertised price, tender, auction or deadline sale. The agreement will set out how you’ve agreed to sell and what marketing you’ve agreed the agency will do.

The agency agreement will include a listing price if your property is being marketed with an advertised price but not if it’s being sold by another method.

What commission you’ll pay

They should tell you what commission you’ll have to pay them, when you’ll have to pay and how this payment is calculated. Commissions can vary between agencies, so you may want to compare different agencies or negotiate with your preferred agency. The agent must explain the formula used and give you an estimate in dollars of the commission you’ll pay if your property sells at their estimated price. Usually, the agency will take their commission out of the deposit when the agreement for sale and purchase becomes unconditional.

What expenses you’ll pay for

Usually you pay extra for marketing the property, but you don’t have to pay extra if you don’t want to.

Ask what marketing is provided for free by the agency, for example, they may put details of your property in the agency’s office or on its website. 

You need to consider the cost of extra marketing against the possible benefit. The agency should prepare a detailed marketing plan explaining what you’re paying for and when. Remember, you’ll have to pay for the extra marketing even if your property doesn’t sell.

When the agency agreement ends

There must be a set date or timeframe from the time the agency agreement is signed that tells you when the agreement ends. The agreement must also say under what circumstances you might have to pay commission after the agreement ends.

What’s in an agency agreement

While the layout and content of agency agreements can vary between agencies, all agency agreements should include the following things.

Details about the property for sale
  • The address of your property.
  • The chattels to be sold with your property (for example, whiteware or curtains).
  • Details about your property.

You must make sure that any details you give the agent are accurate. If you don’t, you may leave yourself open to legal action from a buyer.

It is important to tell the agent everything you know about the property. An agent is required to disclose known defects of a property to a potential buyer. You may not instruct an agent to withhold this information. An agent may cancel an agency agreement if you instruct them not to disclose known defects.

Details about the parties to the agreement
  • Your name, address and other contact details.
  • Your lawyer’s or conveyancer’s name and contact details.
  • The name of the agent mainly responsible for marketing and selling your property.
  • The agency’s name and address.
Who has the authority to sell the property

If you’re not the sole owner of the property, either all owners must sign the agency agreement or you must show you have the authority to sign for all the other owners. (You will need to provide the agent with written confirmation, such as a power of attorney, a resolution of trustees, company minutes or a court document.)

Confirmation that you’ve been given a copy of the guide

Your agent is legally obliged to give you a copy of REA’s agency agreement guide before you sign an agency agreement. They also have to get your written confirmation that you’ve received it.

Download a copy of the residential property REAA agency agreement guide  here [PDF, 2.2 MB] .

Download a copy of the Chinese version of the residential property agency agreement guide here [PDF, 2.5 MB] .

Details of what you authorise the agency to do

The agency agreement appoints your chosen agency and sets out what you authorise them to do, for example:

  • advertising your property for sale at the price, in the way and on the conditions you’ve agreed to
  • arranging inspection of your property by prospective buyers
  • receiving a deposit on your behalf
  • taking their commission from the deposit.
The type of agency agreement and how long it lasts

The agency agreement will state whether it’s a sole agency or general agency agreement, when it starts, when it ends and how to end it. It is up to you and the agency to agree how long the agreement will last.

Sole agency and general agency agreements

A general agency agreement gives more than one agency the right to market your property. You’ll sign a separate agreement with each agency, but you should only pay a commission to one agency. The agencies should talk to you if there is a risk of you paying two commissions.

A sole agency agreement gives one agency the exclusive right to market and sell your property.

If you sign a sole agency agreement, there are some things you should be aware of:

  • You shouldn’t sign another agency agreement with anyone else. If you do, you may have to pay both of the agencies a commission when your property sells.
  • If you sell the property privately with a sole agency agreement in place, you will still need to pay the agency a commission when you sell.
  • If you change your mind immediately after signing, you can cancel the agreement by 5pm on the first working day after the agent has given you a copy. You must cancel in writing (for example, by letter or email).
  • If you sign a sole agency agreement for a term of more than 90 days, either you or the agency can end the agreement after 90 days. This must be done in writing.

In some agreements, cancelling a sole agency agreement means it becomes a general agency agreement. You’ll need to cancel this too if you don’t want to continue with the agency.

Details of any rebates, discounts or commissions the agent may receive

If an agent gets a discount, rebate or commission on any services they arrange for you and you’re paying for, they have to tell you. For example, an agent may receive a discount on the cost of advertising your property in a newspaper.

This disclosure is done in a form that must be included in the agency agreement.

The form must state either the estimated amount of rebate, discount or commission and its source or that the agent won’t be receiving any rebates, commissions or discounts.

Recommended standard clauses

Real estate agencies can choose to use standard clauses in their agency agreements. These REA-approved clauses help protect you by:

  • reducing the likelihood of you being charged commission by two agencies
  • clarifying when the agreement ends and when you need to pay a commission.

We recommend you only use agencies that use these standard clauses. Ask your agent about the clauses before you sign.

You can ask questions, get independent advice, talk to more than one agent and negotiate what’s in the agency agreement. You can negotiate timeframe, commission, expenses or services. Make sure you and your lawyer or conveyancer are happy with the agreement before you sign it.

Test your knowledge of the agency agreement

 

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Understanding the sale and purchase agreement when selling

Source: Real Estate Agents Authority – Press Release/Statement:

Headline: Understanding the sale and purchase agreement when selling

Summary of important things to know

  • You must sign a written sale and purchase agreement when you sell a property.

  • Always check your sale and purchase agreement with a lawyer or conveyancer before signing. You need to read and understand the agreement before you sign it.

  • You should always get legal advice before you sign the agreement and throughout the selling process.

  • You can negotiate the conditions in a sale and purchase agreement.

  • A sale and purchase agreement becomes unconditional when all the conditions are met.

  • The agent helps you and the buyer to include the conditions you both want. Even though the agent works for you, they also have to deal fairly and honestly with the buyer. They can’t withhold any information, and they must tell the buyer about any known defects with the property.

  • If your agent or anyone related to them wants to buy your property, they must get your written consent to do this. They must also give you an independent registered valuation of your property.

  • Your agent will probably use the agreement for sale and purchase approved by the Auckland District Law Society and the Real Estate Institute of New Zealand.

  • Before you sign a sale and purchase agreement, the agent must give you a copy of the  REA’s New Zealand Residential Property Sale and Purchase Agreement Guide . They must also ask you to confirm in writing that you’ve received it.

  • You can download our New Zealand Residential Property Sale and Purchase Agreement Guide.

Sale and purchase agreement

A sale and purchase agreement is a legally binding contract between you and the buyer.

It sets out all the details, terms and conditions of the sale. This includes things such as the price, any chattels being sold with the property, whether the buyer needs to sell another property first and the settlement date.

A sale and purchase agreement provides certainty to you and the buyer about what will happen when.

The New Zealand Residential Property Sale and Purchase Agreement Guide

This guide tells you:

  • what a sale and purchase agreement is
  • what’s in a sale and purchase agreement
  • what happens after you sign the sale and purchase agreement
  • what happens if you have a problem
  • where to go for more information.

Download the residential property sale and purchase agreement guide [PDF, 2.7 MB]

Download the Chinese version of the residential property sale and purchase agreement guide [PDF, 2.9 MB]

What’s in a sale and purchase agreement

  • Your name(s) and the name(s) of the buyer.
  • The address of the property.
  • The type of title (for example, freehold or leasehold).
  • The price.
  • Any deposit the buyer must pay.
  • Any chattels you are selling with the property (for example, whiteware or curtains).
  • Any specific conditions you or the buyer want to be fulfilled.
  • How many working days you have to fulfil your conditions (if there are conditions).
  • The settlement date (the date the buyer pays the rest of the amount for the property, which is usually also the day they can move in).
  • The rate of interest that the buyer must pay on any overdue payments.

General obligations and conditions you have to comply with

The sale and purchase agreement includes general obligations and conditions that you will need to comply with. These may include the following:

  • Access rights. What access the buyer can have to inspect the property before settlement.
  • Insurance. To make sure the property remains insured until the settlement date and outline what will happen if any damage occurs.
  • Default by the buyer. The buyer may have to compensate you if they don’t settle on time, for example, with interest payments.
  • Default by you, the seller. You may have to compensate the buyer if you don’t settle on time, for example, by paying accommodation costs.

Your lawyer or conveyancer will explain these clauses to you. 

Specific conditions a buyer may include

Some buyers will present an unconditional offer, which means there are no specific conditions to be fulfilled. Some buyers will include one or more conditions (that must be fulfilled by a specified date) in their offer. These are some common conditions:

  • Title search. This is done by the buyer’s lawyer or conveyancer to check who the legal owner of the property is and to see if there are any other interests over the property such as caveats or easements.
  • Finance. This refers to the buyer arranging payment, for example, a mortgage or loan.
  • Valuation report. A bank may require the buyer to obtain a valuation of the property (an estimate of the property’s worth on the current market) before they agree to a loan.
  • Land information memorandum (LIM). Provided by the local council, this report provides information about the property such as rates, building permits and consents, drainage, planning and other important information.
  • Building inspection report. To determine the condition of the building.
  • Engineer’s or surveyor’s report. Similar to the above but more focused on the entire section and the structure of the property.
  • Sale of another home. The buyer may need to sell their own home in order to buy another.

What happens after you sign the sale and purchase agreement

Signing the sale and purchase agreement is not the end of the sale process.

Both parties work through the conditions until the agreement is unconditional

A conditional agreement means the sale and purchase agreement has one or more conditions that must be met by a specified date.

The buyer pays the deposit. Depending on what the agreement says, the buyer may pay the deposit when they sign the agreement or when the agreement becomes unconditional. Usually the deposit is held in the agency’s trust account for 10 working days before it is released to the seller.

An agreement for sale and purchase commits you to sell

Once you’ve signed the sale and purchase agreement and any conditions set out in it have been met, you must complete the sale of the property.

Payment of a commission

Once the sale is complete, you pay the agent for their services. The agent or agency usually takes the commission from the deposit they’re holding in their trust account. You should make sure the deposit is enough to cover the commission. The agent cannot ask the buyer to pay for their services if they have been hired by you.

The buyer pays the rest

The buyer pays the remainder of the amount for the property on the day of settlement, usually through their lawyer or conveyancer.

Selling a tenanted property

The agreement for sale and purchase may contain a specific date for possession that may differ from the settlement date, for instance, where the property is tenanted. If the property is tenanted, the agreement for sale and purchase should specify this.

If the buyer requires the property to be sold with vacant possession it is your responsibility to give the tenant notice to vacate, in accordance with the tenant’s legal rights.

 

Signing the sale and purchase agreement

Signing the sale and purchase agreement

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Posted on

Understanding the sale and purchase agreement when buying

Source: Real Estate Agents Authority – Press Release/Statement:

Headline: Understanding the sale and purchase agreement when buying

Summary of important things to know

  • You must sign a written sale and purchase agreement when you buy a property.

  • Always check your sale and purchase agreement with a lawyer or conveyancer before signing. You need to read and understand the agreement before you sign it.

  • You should always get legal advice before you sign the agreement and throughout the buying process.

  • You can negotiate the conditions in a sale and purchase agreement.

  • A sale and purchase agreement becomes unconditional when all the conditions are met.

  • The agent helps you and the seller to include the conditions you both want. Even though the agent works for the seller, they also have to deal fairly and honestly with the buyer. They can’t withhold any information, and they must tell you about any known defects with the property.

  • The agent will probably use the agreement for sale and purchase approved by the Auckland District Law Society and the Real Estate Institute of New Zealand.

  • Before you sign a sale and purchase agreement, the agent must give you a copy of the REA New Zealand Residential Property Sale and Purchase Agreement Guide. They must also ask you to confirm in writing that you’ve received it.

Sale and purchase agreement

A sale and purchase agreement is a legally binding contract between you and the seller. It sets out all the details, terms and conditions of the sale. This includes things such as the price, any chattels being sold with the property, whether the buyer needs to sell another property first and the settlement date.

A sale and purchase agreement provides certainty to you and the seller about what will happen when.

The New Zealand Residential Property Sale and Purchase Agreement Guide

This guide tells you:

  • what a sale and purchase agreement is
  • what’s in a sale and purchase agreement
  • what happens after you sign the sale and purchase agreement
  • what happens if you have a problem
  • where to go for more information.

 

Download the residential property sale and purchase agreement guide [PDF, 2.7 MB] Download the sale and purchase agreement guide [PDF, 2.7 MB] .

Download the Chinese version of the residential property sale and purchase agreement guide [PDF, 2.9 MB] .

What’s in a sale and purchase agreement

Your sale and purchase agreement should include the following:

  • Your name(s) and the names of the seller(s).
  • The address of the property.
  • The type of title (for example, freehold or leasehold).
  • The price.
  • Any deposit you must pay.
  • Any chattels being sold with the property (for example, whiteware or curtains).
  • Any specific conditions you or the seller want fulfilled.
  • How many working days you have to fulfil your conditions  (if there are conditions).
  • The settlement date (the date you pay the rest of the amount for the property, which is usually also the day you can move in).
  • The rate of interest you must pay on any overdue payments. 

General obligations and conditions you have to comply with

The sale and purchase agreement includes general obligations and conditions that you will need to comply with. These may include the following:

  • Access Rights. What access you can have to inspect the property before settlement.
  • Insurance. To make sure the property remains insured until the settlement date and outline what will happen if any damage occurs.
  • Default by you. You may have to compensate the seller if you don’t settle on time, for example, with interest payments.
  • Default by the seller. The seller may have to compensate you if they don’t settle on time, for example, by paying accommodation costs.

Your lawyer or conveyancer will explain these clauses to you. 

Specific conditions you may include

You can present an unconditional offer, which means there are no specific conditions to be fulfilled, or you can include one or more conditions (that must be fulfilled by a specified date) in your offer. These are some common conditions:

  • Title search. This is done by your lawyer or conveyancer to check who the legal owner of the property is and to see if there are any other interests over the property such as caveats or easements.
  • Finance. This refers to you arranging payment, for example a mortgage or loan.
  • Valuation report. A bank may require you to obtain a valuation of the property (an estimate of the property’s worth on the current market) before they agree to a loan.
  • Land information memorandum (LIM). Provided by the local council, this report provides information about the property such as rates, building permits and consents, drainage, planning and other important information.
  • Building inspection report. To determine the condition of the building.
  • Engineer’s or surveyor’s report. Similar to the above but more focused on the entire section and the structure of the property.
  • Sale of another home. You may need to sell your existing home in order to buy another. 

What happens after you sign the sale and purchase agreement

Signing the sale and purchase agreement is not the end of the purchase process.

Both parties work through the conditions until the agreement is unconditional

A conditional agreement means the sale and purchase agreement has one or more conditions that must be met by a specified date.

You pay the deposit

Depending on what the agreement says, you may pay the deposit when you sign the agreement or when the agreement becomes unconditional.

An agreement for sale and purchase commits you to buy

When you’ve signed the sale and purchase agreement and any conditions set out in it have been met, you must complete the purchase of the property.

Payment of a commission

When the sale is complete, the seller pays the agent for their services. The agent or agency usually takes the commission from the deposit they’re holding in their trust account. The agent cannot ask you to pay for their services if they have been hired by the seller.

You pay the rest

You pay the remainder of the amount for the property on the day of settlement, usually through your lawyer or conveyancer.

Buying a tenanted property

The agreement for sale and purchase may contain a specific date for possession that may differ from the settlement date, for instance, where the property is tenanted. If the property is tenanted, the agreement for sale and purchase should specify this.

If you require the property to be sold with vacant possession, it is the seller’s responsibility to give the tenant notice to vacate, in accordance with the tenant’s legal rights.

We recommend you seek legal advice if you are buying a property that is currently tenanted.

Signing a sale and purchase agreement

Signing a sale and purchase agreement

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Advance Care Planning Day, 5 April 2018

Source: Health Quality and Safety Commission – Press Release/Statement:

Headline: Advance Care Planning Day, 5 April 2018

Advance Care Planning

Advance Care Planning Day is an opportunity for each region to connect with their communities to enhance the profile and knowledge of advance care planning. Advance Care Planning Day was previously known as Conversations that Count Day.

The Health Quality & Safety Commission is overseeing the national advance care planning programme, with funding from district health boards (DHBs).

Advisory and steering groups have been established to support and guide the programme.

About two weeks before Advance Care Planning Day, key messages and tweets will be sent to DHB communication managers and ACP contacts; and a national media release will be sent out on 4 April.

Over 60,000 resources have been dispatched to DHBs and others. A new resource entitled What matters most for your future care is available in hard copy, or can be downloaded from our website.

For further information please email Clare O’Leary.

We look forward to hearing more about your events across the regions.

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Posted on

New seal to be laid on SH1 through the Brynderwyn Hills this weekend

Source: New Zealand Transport Agency – Press Release/Statement:

Headline: New seal to be laid on SH1 through the Brynderwyn Hills this weekend

This final layer of seal will improve the road’s skid resistance and improve its waterproofing to ensure a resilient and long lasting road surface, says the Transport Agency’s Senior Manager Project Delivery, Chris Hunt.

The work is part of the Brynderwyn Improvements Project which has improved safety on the busy state highway by widening the road and shoulders, removing tight corners and installing 14 kms of safety barriers along the edge of the road and the centre line to separate north and south bound traffic.

Work will start on at 7pm Sunday night and run through till 6am, says Mr Hunt.

There will be more overnight work on Monday 26 March from 7pm to 6am.

On both nights, the road will remain open but there will be stop/go traffic management in place and a 30 km/hour speed limit along the 4.6 kilometre stretch of SH1. Drivers can expect a delay of up to 5 minutes.

The sealing work will continue during the day on Tuesday 27 March and Wednesday 28 March between 7:30am and 5pm.

There will be traffic management in place with a contraflow, which means there will be one lane in both directions and a 50 km/hour speed limit. Delays are expected to be minimal.

The Brynderwyns work is in addition to repair and resealing work on the three Mata Bridges further north on SH1 between Ruakaka and Oakleigh. This work is also due to start on Sunday night and run for four nights.

Both sets of work are weather dependent and may be postponed at short notice.

The Transport Agency thanks motorists for their patience and understanding and urges them to allow extra time for their journey or reschedule it to avoid delays.

Please follow the directions of the road crews and keep to the speed limits to ensure the safety of road crews and all other road users.

Latest information on road works and road closures

For Auckland and Northland

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Posted on

USA,Texas – Hurricane Harvey

Source: New Zealand Ministry of Foreign Affairs and Trade – Aid and Development – Press Release/Statement:

Headline: USA,Texas – Hurricane Harvey

New Zealanders in Texas should be aware that severe flooding is of concern in south-eastern Texas due to the on-going effects of Hurricane Harvey. 

New Zealanders in Texas are advised to follow the advice of local authorities at all times (including any evacuation orders) and seek suitable shelter.

It is also important to keep family and friends in New Zealand updated on your welfare.

The ongoing severe weather has caused disruption to flights in and out of Texas. Please contact your airline or travel agent directly for information on the status of your flight.

If you require consular assistance please contact the New Zealand Embassy in Washington on +1 202 328 4800.

For further information, please see the following US Government websites:

National Hurricane Center website

Federal Emergency Management Agency (FEMA)

Posted on

Applications open for New Zealand Commonwealth and ASEAN Scholarships

Source: New Zealand Ministry of Foreign Affairs and Trade – Aid and Development – Press Release/Statement:

Headline: Applications open for New Zealand Commonwealth and ASEAN Scholarships

Commonwealth Scholarships

Applications for the 2018 New Zealand Commonwealth Scholarship are open to Malaysians from the 15 February – 30 March 2017. 

New Zealand Scholarships are prestigious scholarships for international students from developing countries to study in New Zealand. Our scholarships foster and build potential leaders, as well as equip individuals with skills and knowledge to benefit your country.  

Applications should be submitted to the below Nominating Agency, and not the High Commission.  

The Director General
Public Service Department of Malaysia
Human Capital Development Division
Level 3, Block C2, Complex C
Federal Government Administrative Centre
62510 Putrajaya

Telephone: 03 8885 3546 / 3433 / 3571

For further details, please visit our Scholarships pages.

Note: Universities New Zealand used to manage the application and selection process for the New Zealand Commonwealth Scholarships. This is now under the management of the Scholarships Unit (GDS).

ASEAN Scholarships

Applications for the 2018 NZ-ASEAN Scholarship are also open from 16 February – 30 March 2017.

A New Zealand Scholarship will empower you with the knowledge, skills and qualifications to contribute to your country’s prosperity, security and sustainable growth. The New Zealand Government, through the New Zealand Aid Programme, provides scholarships to people from developing countries to undertake studies within priority areas at a tertiary education institution in New Zealand.  

Malaysia-specific information, including eligibility and how to apply, can be found here.

More information about studying in New Zealand is here.

Posted on

Pacific sustainable energy: Maintaining pace

Source: New Zealand Ministry of Foreign Affairs and Trade – Aid and Development – Press Release/Statement:

Headline: Pacific sustainable energy: Maintaining pace

 
More than $2 billion will be invested in sustainable energy projects in the Pacific.

The Pacific Energy Conference in Auckland has generated over $1 billion in funding commitments for sustainable energy projects in the Pacific.

When combined with previous commitments and private sector investment, it means that $2.5 billion will be invested in sustainable energy in the Pacific between 2013 and 2024.

“For our part, New Zealand has agreed to provide a further $100 million to energy projects in nine Pacific countries, bringing our total contribution to $220 million,” Foreign Minister Murray McCully says.

Sustainable energy is a priority for the Pacific. Diesel is the dominant form of electricity for most Pacific nations, and diesel consumption costs the equivalent of around 10 percent so the region’s GDP. 

Across the region, only around 25 percent of households have access to electricity.

Reducing reliance on fossil fuels and increasing access will have tangible economic, social and environmental benefits for Pacific communities.

The Pacific Energy Conference was co-hosted by the New Zealand Government and the European Union. It was attended by leaders and representatives across the Pacific and beyond, international development agencies, the private sector, and NGOs.

It was a follow-up to the Pacific Energy Summit in 2013, also hosted by New Zealand and the EU.

Read more:

Pacific Energy Country Profiles: Sustainable energy progress and challenges at country level.

Donors commit to Pacific energy projects

 

Posted on

Helping NZ businesses invest in the Pacific

Source: New Zealand Ministry of Foreign Affairs and Trade – Aid and Development – Press Release/Statement:

Headline: Helping NZ businesses invest in the Pacific

We want to support New Zealand businesses to create economic and social benefits in Pacific countries through commercially sustainable ventures.

To help businesses to invest more and increase their impact in Pacific Island countries, we have introduced the Pacific Private Sector Window.

This offers businesses a non-repayable grant of up to 67% of the total project cost (total project size can be up to NZ$2 million).

As part of this, businesses can get financial support for up to 90% of costs for business case development.

In addition, we can support businesses with our international development knowledge and networks.

The investment must be in an eligible Pacific country, in areas where we see the greatest potential for economic development: agriculture, tourism, fisheries, ICT, energy, trade and labour mobility.

You could consider applying if you are a New Zealand business that is considering long-term investment in the Pacific for the first time. Or you might be a business that wants to grow its existing Pacific operations in a way that increases local development impact.

Or you might be a business that sees an opportunity to bring Pacific producers into global value chains.

Who can apply?

To apply you need to:

  • be a New Zealand business
  • propose a commercial project within the six targeted investment areas in an eligible Pacific island country
  • have an in-country partner/or partners
  • meet financial and due diligence requirements sufficient to justify funding, and demonstrate ability to meet the matched funding requirements
  • demonstrate that your project is new and additional to your business as usual.

See a printable information sheet

Closing dates

There are two funding rounds a year. The closing dates for applications are:

  • 15 April 2016
  • 16 September 2016

If you want to talk more about whether the Pacific Private Sector Window might be right for your business, contact us at nzpfid@mfat.govt.nz.

Read more

For more information on the Pacific Private Sector Window (PPSW) see the following links.

 

 

 

 

Posted on

Fiji and NZ sign development cooperation arrangement

Source: New Zealand Ministry of Foreign Affairs and Trade – Aid and Development – Press Release/Statement:

Headline: Fiji and NZ sign development cooperation arrangement

The Development Cooperation Arrangement will see New Zealand assisting Fiji in three priority areas, namely economic development, skills training or workforce development, and the creation of institutional linkages. The overall goal of the New Zealand development assistance programme is to contribute to Fiji’s sustainable economic development. The Development Cooperation Arrangement arose out of the need for both countries to enhance their bilateral relations and put in place an overarching framework of cooperation.

The two Ministers acknowledged the value of the DCA in targeting assistance to Fiji that may not necessarily be within the current scope of NZ’s aid programme. This was considered important to ensure that the partnership and areas of cooperation between the two countries remain relevant and beneficial to their peoples.

During their consultation, Minister Kubuabola thanked the New Zealand government for its assistance towards the Fijian Agriculture sector and expressed the hope for further assistance in the future. In this regard, Minister McCully will be touring the Koronivia Agriculture Station to explore opportunities to assist the Fiji Diary Sector Programme.

Under NZ’s aid programme for 2015-2019, a sum of NZ$33 million has been allocated for assistance in the areas of agriculture value chains, skills training and building capacity in the public sector.

In acknowledging the need to work together to address the root causes of climate change, the two Ministers agreed to explore assistance that will enable Fiji to access clean, efficient and affordable energy sources through direct investment and technology transfer to reduce carbon emissions and improve energy efficiency. Minister Kubuabola expressed Fiji’s appreciation for the assistance provided by the NZ Government in supplying solar lanterns to some informal settlements that have no access to electricity.

The two Ministers acknowledged the need to continue the education assistance provided to Fiji under the NZ Scholarship study awards. For 2016, 20 scholarships are being offered to Fijians in various programs, which is an increase from 10 over the last two years.

In view of the long-standing historic ties on defence and security cooperation between Fiji and NZ, the two Ministers agreed to enhance existing cooperation and revive programmes of assistance that have benefited Fijians in the past.

Another area that the two Ministers agreed to work together is in the preparation for Fiji’s hosting of the Triennial Global Oceans Conference in June 2017.

The two Ministers also discussed areas of cooperation on regional issues and multilateral matters of priority to them.

This annual consultation is the third that the two Ministers of Foreign Affairs have held. The fourth consultation will be hosted by Minister McCully in NZ next year.