Terms and Conditions

  1. If an agreement is entered into, it will be on the basis of information you have provided to us or that we have collected about you. The agreement is made after us completing our enquiries and being satisfied as to those enquiries. The contract is formed by you making an offer to us, and once we have completed our enquiries and made the appropriate assessment and you have done what you need to do under this agreement or under our other requirements (such as signing bank documents), we will accept your offer. You understand that until we accept your offer there is no agreement.
  2. You acknowledge that before we are required to advance the loan to you that:-
    1. We must be satisfied that you have provided satisfactory identification to us which allows us to identify you in accordance with our own processes and those contained in any relevant legislation;
    2. We have obtained from you, or elsewhere, sufficient information about your income and expenses, able to be verified by us;
    3. We have obtained from you sufficient information about the requirements and objectives to be met by applying for and obtaining the loan;
    4. We have, based upon the information supplied by you and our own enquiries, been able to make an assessment that the loan contract will not be unsuitable for you based upon our assessment of your ability to meet your obligations under the contract without hardship and our determination that the loan satisfies your requirements and objectives;
    5. Where we have sought one, that we have received a satisfactory report from a credit reporting body in relation to your credit history;
    6. We are satisfied that the information you have provided us is complete, true and correct in every respect;
    7. You have provided us with all documents and information requested by us to assist us in assessing your application;
    8. We have advised you (in writing, electronically or otherwise) that your loan application has been approved, and
    9. You have made us (in writing, electronically or otherwise) an offer to borrow which is accepted.
  3. You acknowledge that:-
    1. We are not obliged to advanced the funds to you even if the conditions referred to in paragraph 2 have been satisfied if we discover
      1. that you have provided us with any information which is not true, correct and complete in all details;
      2. that there is any information that we have not received after we have requested it from you or someone else, or
      3. there has been a relevant change in your circumstances between receiving your application and advancing the loan.
    2. If we decline to advance the funds in accordance with this paragraph, we are not liable to you for any damages, costs or expenses incurred by you or which you may suffer as a result.
  4. You acknowledge that we have advised you that:-
    1. You should obtain independent legal and financial advice in relation to this agreement, and
    2. Should you default in any payment, and as permitted by law or any code relating thereto, we will report the matter to a credit reporting agency. This report may have an adverse effect on your chances of a successful finance application in the future.
  5. Establishment and monthly fees
    1. You agree to pay the establishment fee in the amount set out in the Financial Table at the time the amount of credit is made available to you. Unless you request otherwise, the establishment fee will form part of the amount of credit.
    2. You agree to pay the monthly fee in the amount set out in the Financial Table. The monthly fee will fall due on the day the amount of credit is advanced to you and on the same day of every month thereafter where there remains a balance owing by you. If there is no equivalent day in the following month, the fee will fall due on the last day of that month.
    3. You acknowledge that as long as there is any amount owing by you to us pursuant to this agreement, then the monthly fee is payable in the amount set out in the Financial Table.
  6. Payment to you
    1. The whole of the amount of credit will be paid to you or as is set out in the Financial Table on the day of the intended settlement as disclosed in the details of the offer or such other day as we agree.
    2. The amount paid to you or as set out in the Financial Table will be debited to your account held by us upon which charges (if any) shall accrue from time to time.
    3. Any fee or charge permitted to be collected from you in accordance with this agreement shall, at our option:
      1. be debited to your account held by us immediately it becomes due (in which case it will be added to the amount owing), or
      2. will be paid by you to us on demand being made by us to you.
  7. Your obligationsYou agree that you will:-
    1. Pay to us the repayments together with any fees and charges specified in this agreement in the method and on the days specified in this agreement;
    2. If we incur any enforcement expenses as a result of us enforcing our rights under this agreement on any breach of the agreement by you, pay to us on demand those expenses, and
    3. Ensure that we are always aware of your current address, e-mail and telephone numbers and that if any of these change you will notify us within 7 days of such change.
  8. Default
    1. You will become in default of this agreement if you do not comply with each and every term of this agreement.
    2. If you are in default of your obligations under this agreement, we will send to you a default notice. The default notice will tell you what the default is and how you can remedy it. It will also give you a period of time in which you are able to remedy the default.
    3. If you do not remedy the default in accordance with the notice, subject to any other requirement of the law, the total amount remaining outstanding, together with all fees and charges, will become immediately due and payable to us.
    4. You acknowledge that if you are in default, subject to the requirements of the law and any code, we may report the fact of your default to a credit reporting body.
    5. You will be in default of your obligations under this agreement if:-
      1. You do not pay any amount due under this agreement in full on or before the date it is due to be paid;
      2. You fail to comply with any other condition of this agreement;
      3. You commit an act of bankruptcy which includes entering into a Part IX agreement pursuant to the provisions of the Bankruptcy Act;
      4. You fail to advise us within 7 days of any change in your address, e-mail and telephone number;
      5. We discover, based on reasonable grounds, that you have provided us in support of your application for the loan information which is not complete, true and correct in every respect, and
      6. We believe on reasonable grounds that we were induced by fraud to enter into this agreement.
    6. You acknowledge that after you default, enforcement expenses may become payable by you. These costs will include any additional costs borne by us in recovering the outstanding balance from you together with such fees as are listed in this agreement.
    7. At any time after you default, subject to any other requirement of the law, we can at your cost:-
      1. exercise any right, entitlement or power given to us under the terms of this agreement or by law, and
      2. Perform any of your obligations under this agreement where we are of the opinion it would be advantageous to do so.
  9. Statements
    1. We will provide you with statements of account when we are required to do so under the law.
    2. In addition, you may ask for a Statement at any other time, but we may charge you for the provision in accordance with the Statement Fee shown in the Financial Table.
  10. Payments
    1. You will be credited with the payment made by you on the day the payment is received by us. This means that although you may make a payment on one day, it may not be received by us for some days thereafter. We will treat the payment as if it has been made on the day it is received by us.
    2. You will not deduct anything from any payment due. This means that you are not entitled to deduct from any payment due to us anything that you claim we owe you or may owe you in the future.
    3. Subject to any contrary mandatory requirements of the law, we may determine from time to time the manner in which monies received from you will be taken and applied under this agreement. Unless otherwise notified or required by the law, the order in which monies will be applied will be:-
      1. in payment of any costs and expenses incurred by us in exercising any right or obligation we have under this agreement;
      2. in payment of any prior unpaid loans you have with us;
      3. in payment of your obligation under this agreement firstly in respect of fees and charges;
      4. in reduction of the principal.
  11. Early Repayment
    1. You are entitled to repay the loan amount or any payment due under this agreement at any time before the due date.
    2. Any payment made before the due date may be made without penalty to you.
    3. Unless otherwise specifically agreed, no deduction in any fees or charges due under this contract shall be made as a result of the early payment made by you and no refund will be given for fees already paid.
  12. NoticesSubject to any contrary requirements of the law:-
    1. You agree that any notice, demand or other communication required or permitted to be given by or under this agreement or any relevant statutory provision:-
      1. shall be sufficiently given if it is in writing from us or our solicitors and delivered to you by prepaid mail, facsimile, (or in the case where you have consented to receive communications electronically) e-mail, SMS or other electronic means;
      2. if delivered personally, shall be deemed to have been received by you on the date it bears or the date it is received, whichever is the later;
      3. if delivered by mail shall be deemed to have been received on the second business day after the date of posting;
      4. if delivered electronically, shall be deemed to have been received on the day it was sent.
    2. For the purposes of determining the address to which any notice, demand or other communication will be sent, :-
      1. You acknowledge that we are entitled to rely on the address, e-mail address or telephone number most recently provided to us by you;
      2. If we send a document to you using the most recent address, e-mail address or telephone number you have provided, even if this is not your current address, the document will be deemed to be sufficiently served if delivered to that address, and
      3. You will advise us within 7 days of any change to your address, e-mail address or telephone number.
    3. If there is more than one borrower, you may nominate one of them to receive notices, demand or other communication on behalf of both and whilst the nomination is in force, where permitted by law, such service shall be deemed to be sufficient service on all borrowers.
  13. Changes to the agreement
    1. We may decide to amend the terms of your offer to us at any time before we accept it, and if you agree to the change, the amended offer may be accepted by us.
    2. Subject to the requirements of the law, we may change some of the terms of this agreement at any time without your consent by notifying you of the change.
    3. The changes that may be made in accordance with clause 13.2 are:-
      1. the amount of your repayments;
      2. the frequency of your repayments;
      3. the method by which you make your repayments;
      4. fees and charges applicable to the agreement including the quantum and type.
    4. If we change any of the matters referred to in this clause, we will notify you of the change giving you not less than 5 business days notice.
  14. Assignment
    1. You may not, without our written consent, assign or otherwise deal with your rights and obligations under this agreement.
    2. We may assign, sell, transfer or otherwise deal with our interest in this agreement in any way provided that in our absolute opinion you will not be disadvantaged by such dealing. You agree that you will sign any document or do anything we reasonably request to enable us to assign, sell, transfer or otherwise deal with our interest in this agreement.
    3. You acknowledge and agree that in the process of our dealing with our interest it may be necessary for us to disclose information we hold about you in relation to this agreement to the party with which we are dealing. You consent to that occurring.
    4. On the conclusion of any dealing in our interest in this agreement, we will notify you of such dealing by delivering a notice to you at your last known address, e-mail address or telephone number.
  15. General
    1. InterpretationUnless otherwise indicated, in this agreement the following words have the meanings set out in this clause
      1. "Account" means the electronic record of transactions we hold regarding your loan with us.
      2. "Business day" means a day, other than a Saturday or Sunday, in which banks are open for retail business in the capital city of the state in which you reside.
      3. "Default" means any of the events listed in clause 8 hereof or any other action by you which is not in accordance with this agreement.
      4. “Establishment fee” means the amount set out in the Financial Table and payable as set out in clause 5.
      5. “Monthly fee” means the amount set out in the Financial Table and payable as set out in clause 5.
    2. Headings are for convenience only and shall not affect interpretation.
    3. Singular includes plural, and a reference to a gender includes a reference to other genders.
    4. Where there is more than one borrower, any covenant or obligation imposed on a borrower by this agreement is binding on all borrowers jointly and severally.
    5. A reference to any legislation, including the National Credit Code, is a reference to any amendment, variation or replacement of that legislation.
    6. A word or phrase used in this agreement which is defined in the National Consumer Credit Protection Act 2009 (including the National Credit Code) or regulations made thereunder shall be read adopting the definition therein.
    7. If a payment or other activity is required to be made or done on a day which is not a business day, the payment or other activity must be made or undertaken before the close of business on the next following business day.



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