Fixed Loan Contract Terms & Conditions

Fixed Loan Contract Terms & Conditions Version 6.1, March 2013 Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed ...
14 downloads 2 Views 451KB Size
Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 1 of 11

1.

REPAYMENTS

(a) You agree to repay the Amount of Credit (together with interest) by making the Repayments in the manner and at the times set out in the Schedule. You must sign any forms required by us to effect Repayments. (b) The amount of each Repayment will not include any applicable direct debit fees, or similar taxes or charges. (c) If any Repayment is due to be made on a day which is not a business day, the Repayment must be made on the next business day. (d) If any direct debit or cheque used for Repayment is dishonoured, the Repayment will be treated as not having been made, and interest will continue to accrue on the unpaid daily balance in accordance with this Loan Contract until actual payment is received by us. You must pay to us any fees we incur from our bank on account of a dishonour. (e) We can apply any payment or other credit to any amount that you owe us or a Group Entity (including under any other agreement you have with us or a Group Entity) in any order we determine. (f) If you have more than one account with us and you make a payment without telling us in writing how the payment is to be applied, we can apply it to any one or more of the accounts in any way we think fit. (g) We do not pay interest on any credit balance in your account. (h) In addition to the Repayments, you agree to pay: (i) The Fees and Charges set out in the Schedule and any other government charges which are levied by a Governments Agency in respect of this Loan Contract and the Secured Property but which are not set out in the Schedule; (ii) Default Interest in accordance with clause 5.3 (if applicable); and (iii) Any enforcement expenses in accordance with clause 5.5 (if applicable). (i) You may pay out this Loan Contract prior to the final Repayment date by: (i) Paying all the outstanding Repayments; (ii) Paying all costs and expenses; (iii) Paying all accrued but unpaid interest on the basis that: a)The Annual Percentage Rate is calculated on the daily balance of the Amount of Credit, capitalised monthly; and b)The Default Interest is calculated in accordance with clause 5.3; and (iv) Paying the deferred Establishment Fee(if applicable). (j) If you make a Repayment before its due date, we are not obliged to accept the Repayment. 2.

MORTGAGE/ CAVEAT TERMS

2.1

Grant of mortgage

any insurance claim in respect of the Secured Property. (d) You must sign any mortgage or other Secured Property document which we consider necessary to give effect to this clause 2.1. 2.2 Insurance (a) You must at your cost, keep the Secured Property insured for not less than its full insurable value as specified by us against loss or damage by fire, storm, tempest, and any other risk specified by us. You must also maintain any other insurances required by us. (b) All insurances must be with an insurer approved by us and must note our name as the lender on all policies until the loan is repaid. (c) If loss or damage to the Secured Property occurs, only we will be entitled to enforce and settle any claim against the insurer and any money paid by the insurer must be paid directly to us. You agree that we are appointed as your attorney in accordance with clause 8 for this purpose. We may apply that money to repair or rebuild, in repayment of the amount owing under the Loan Contract, or hold it as additional Secured Property. (d) You must pay all insurance premiums on or before the due date and if required us, provide evidence to us of the currency of all policies relating to the Secured Property. You must not do anything by which any insurance policy relating to the Secured Property could be prejudiced or cancelled or be subject to an increased premium. (e) If the Secured Property includes real property, we may require you (at your cost) to obtain mortgage indemnity insurance. (f) You are liable to repay the amount owing under the Loan Contact even if the Secured Property is damaged for any reason, lost or stolen, and even if we settle an insurance claim for an amount less than the amount outstanding under the loan (less any amounts received by us from the insurer). 2.3 Things you must not do with the Secured Property For as long as we have a mortgage or other charge (including a caveat) over the Secured Property, you must not without first obtaining our consent: (a) Mortgage or charge the Secured Property to another person or use the Secured Property to secure any other loans; or (b) Sell, lease or part with possession of, or give away the Secured Property; (c) Make any alterations to the Secured Property (d) Do anything or allow anything to happen that might reduce the value of the Secured Property; or (e) Use the Secured Property, or allow it to be used, for any illegal or offensive purpose. 2.4 Where Secured Property is a motor vehicle

(a) In addition to any rights granted to us under clause 3, you hereby grant in our favour, a mortgage over the Secured Property listed in Parts A and/or B of the Details of Security section in the Schedule to secure payment to us of the Amount of Credit and any other money now or at any time in the future due to us under this Loan Contract or otherwise. (b) In addition to any rights granted to us under clause 3, you hereby consent to us lodging a caveat over the Secured Property listed in item C of the Details of Security section in the Schedule to secure payment to us of the Amount of Credit and any other money now or at any time in the future due to us under this Loan Contract or otherwise. (c) The Secured Property includes any additions or alterations made to the Secured Property and any money received from

(a)

You must ensure that the vehicle is at all times: Registered; Insured for its full replacement value; Insured against third party property damage; and Kept free from damage. (b) You must: (i) Provide us with a copy of the current insurance policy upon request; (ii) At your cost keep the Secured Property in good order and repair including where applicable, ensuring the Secured Property is serviced and repaired in accordance with the manufacturer’s instructions, (iii) Immediately notify us in writing of any loss or damage to the Secured Property which is beyond normal wear and tear; (i) (ii) (iii) (iv)

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 2 of 11

(iv) At your own cost immediately replace all parts which maybe come worn out, lost, stolen, compulsorily acquired, destroyed, seized, confiscated, damaged beyond repair or permanently rendered ‘unfit for use’ only use approved spare parts; (v) Allow us or our authorised agents or employees to inspect the Secured Property and any records you hold pertaining to the Secured Property, and do anything else reasonably required by us to protect our rights, interests and remedies under this Loan Contract. You must give us or our authorised agents or employees access to any premises where the Secured Property is located (subject to your rights under the Act); and (vi) Make known to us or our authorised agents or employees the location of the Secured Property upon our request. (b) You must not, without our prior written consent: (i) Make any replacement, modification, alteration or addition to the Secured Property, or do anything to the Secured Property which may lead to a material reduction in, or adversely impact on, the value of the Secured Property, or void any warranty in respect of the Secured Property; (ii) Agree, attempt, offer or purport to sell, assign, sublet, lend, pledge, mortgage, hire, encumber or otherwise part with or attempt to part with possession of, or otherwise deal with, the Secured Property; or (iii) Remove the Secured Property for a continuous period of more than three months from the State or Territory in which the Secured Property is normally located. You must not remove the Secured Property from Australia. 3. PERSONAL PROPERTY SECURITIES (a) You Covenant that: (i) You will not create or allow to exist a registration on the register in relation to a Security Interest in the Secured Property other that a registration with respect to our Security Interest in the Secured Property; and (ii)You will immediately remove from the register any registration which affects the priority of our Security Interest in the Secured Property (b) You agree to do anything (including obtaining consents, signing and producing, getting documents completed and signed and supplying information) which we ask and consider necessary for the purpose of: (i) Ensuring that our Security Interest is enforceable, perfected and otherwise effective; (ii) Enabling us to apply for any registration, or give any notification in connection with its Security Interest so that the Security Interest has the priority required by us; and/or (iii) Enabling us to exercise rights in connection with our Security Interest including without limitation: A. Immediately assist us to apply to register a financing statement for each Security Interest created by, or in connection with, or arising out of, or as a result of this Loan Contract in order to perfect the Security Interest for the purposes of Section 21 (Perfection - Main Rule) of the PPSA B. Comply with any requisitions that may be raised by any person in relation to the registration of any Security Interest created by, or in connection with, or arising out of, or as a result of this Loan Contract; and C. Immediately do all things reasonably necessary to remedy any defect in the registration of any Security Interest created by, or in conjunction with, or arising out of, or as a result of this Loan Contract. (c) Everything you are required to do under this clause 3 is at

your expense. You agree to pay or reimburse the costs of us in connection with anything you are required to do under clause 3. (d) You irrevocably and unconditionally waive your right to receive from us any notice of any verification statement in respect of any registration event in relation to the Secured Property. Any notice or document required or permitted to be given under the PPSA to us as the registered secured party, must be given to us by you. (e) Unless otherwise defined in this Loan Contract, terms used in this clause 3 have the meaning given to them in the PPSA. 4. WARRANTIES You warrant to us that: (a) You have read the term of this Loan Contract together with the Schedule; (b) All the information provided by you to us (including the application form) is correct, complete and is not misleading; (c) The Secured Property is not subject to any other charge, interest or encumbrance and no other person or entity has any rights over the Secured Property; and (d) You will advise us immediately if your personal or financial circumstances change which includes for the avoidance of doubt, your address, email address your telephone number and your employment terms. 5. DEFAULT 5.1 When there is default You are in default of this Loan Contract if any of the following events happen: (a) There is default of any term or condition of this Loan Contract or any other agreement that you have with us or a Group Entity; (b) You fail to pay any person (including us and/or other banks etc) any money by the due date; (c) Any representation or warranty made by you to our agents or us proves to be untrue or misleading; (d) You become bankrupt or are jailed, or a trustee in bankruptcy, guardian, controller, administrator, receiver, receiver and manager, liquidator or provisional liquidator is appointed to you or to any guarantor or both to administer your affairs or any guarantor’s affair or both or proceedings are commenced or a resolution proposed or passed to do so; (e) You breach any material undertaking given at any time to us; (f) You or any guarantor or any party die or become of unsound mind or are arrested and charged with any offence carrying a maximum period of imprisonment exceeding 3 months; (g) You are a partnership or company and a change occurs in the constitution of the partnership or company without our consent; (h) You are a company and a change of control occurs (which may include a change in shareholding or directorship); (i) You are a trustee of a trust and you, without our written consent, cease to be the sole trustee, you do or omit to do anything in breach of the terms of the trust, any capital of the trust is distributed, the trust is wound up or terminated or steps are taken to do so or an application is made to, or an order sought from, any court concerning the trust assets or administration of the trust; (j) The Secured Property is totally or substantially lost or destroyed; (k) The Secured Property is used for the commission of any offence which might result in their confiscation or forfeiture to the Crown or attachment, execution or distress is levied against you or any of the Secured Property; or (l) You fail to satisfy the insurance obligations set out this Loan

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 3 of 11

Contract. 5.2 Our rights on default Subject to any rights you may have to issue a hardship notice or postponement request at any time after default occurs, we can take any of the following actions after giving any notice required by law and, if required by law, the period specified in the notice has passed and the default has not been rectified: (a) Demand and require immediate payment of any money due under this Loan Contract: (b) Call up the loan and require payment of the entire balance owing under this Loan Contract: (c) Report you to a credit reporting agency which may affect your credit rating; and (d) Take action even if we do not do so promptly after the default occurs so long as the default remains unrectified and we have given appropriate notice. (e) The fact that we don’t take immediate action to exercise any of our rights does not mean that we have waived our rights or varied them. As long as we have served any notice required by law, we can take action against you at a time that suits us. Any attempt by us to negotiate a repayment plan is also not a waiver of our rights under this contract. 5.3 Default Interest If you fail to make a Repayment on its due date, we may require you to pay Default Interest on the amount that is overdue for each day that the overdue amount is late, capitalised monthly. 5.4 Taking possession of, and selling, the Secured Property (a) We are entitled to immediately commence proceedings to repossess the Secured Property if: (i) You fail to remedy a default within the time frame specified in the notice; (ii) We reasonably believe that we were induced by your fraud to enter into this Loan Contract; (iii) We are unable to locate you after undertaking reasonable proceedings; (iv) We have a court order permitting us to commence enforcement proceedings; (v) We reasonably believe that you have removed or disposed of the Secured Property or intend to do so, or we believe urgent action is required to protect the Secured Property; or (vi) Upon the expiration of 30days notice where you commit a default that we believe on reasonable grounds that you cannot remedy. (b) Where we are permitted to take possession of or sell any Secured Property, we may, without limitation to our rights, seek and obtain any judgment or other court tribunal order, take possession of the Secured Property without further notice to you, subject to any restrictions on our right to do so under the National Credit Code (if applicable). (c) If we take possession of the Secured Property, we will give you a notice setting out the estimated value of the goods and all other information required by the National Credit Code (if applicable). We will not sell the Secured Property for at least 21 days (or 14 days if this contract is one to which the National Credit Code does not apply) after the date of the notice unless authorised by a court or tribunal. Within that time, unless you commit a further default, you can get the Secured Property back by: (i) Paying us the unpaid balance of the loan or remedying the default; and (ii) Paying any Default Interest which has accrued, our reasonable enforcement expenses and all other amounts

which are due and payable at that time. (d) Where we have taken possession of the Secured Property, we may, subject to compliance with the National Credit Code (if applicable): (i) Sell the Secured Property by way of private sale, auction or tender to a dealer in goods of the same kind and for cash or on terms, as we see fit, (ii) Exercise all other rights permitted by this Loan Contract or authorised or permitted by any Act; (iii) Exercise all rights able to be exercised by mortgagee under a mortgage by deed; (iv) Execute any transfer, assignment, discharge or other instrument which we consider necessary for the enforcement or protection of our rights. For that purpose, you irrevocably authorise us to sign all such transfers, assignments, discharges and other instruments in your name; and (v) Give valid discharge for any amounts payable in relation to the sale of the Secured Property. (e) Funds received from the sale will be applied as follows: (i) To our reasonable enforcement expense; (ii) To any fees or charges that are due and payable; (iii) Accrued but unpaid interest charges; and (iv) Balance outstanding. (f) Any surplus funds will be paid to you. (g) Where there is insufficient money to satisfy any or all the payments to be made to us under this Loan Contract (Shortfall), you must immediately pay to us, the Shortfall. 5.5 Enforcement expenses Enforcement expenses may become payable under this Loan Contract if you default. You must pay on demand and we may debit your account with our costs in connection with any exercise or non exercise of rights arising from any default, including: (a) Legal costs and expenses on a full indemnity basis or solicitor and own client basis, whichever is higher; (b) Our reasonable internal cost. 6. GENERAL MATTERS 6.1 Lender’s Certificate A certificate signed by or on behalf of us as to an amount payable to us is conclusive and binding on you in the absence of manifest error. In providing any certificate, we will act reasonably. 6.2 Assigning the Loan Contract (a) We may assign, novate or otherwise deal with our rights under this Loan Contract in any way we wish. You must sign anything and do anything we reasonably require to enable any dealing with this Loan Contract, provided that it does not change your obligations under this Loan Contract in any way. (b) You cannot assign this Loan Contract or any interest you have in it without our prior written consent which we may withhold or grant in our sole discretion. 6.3 Consumer legislation and independent advice To the extent that this Loan Contract is regulated under consumer legislation (eg the National Credit Code), any provisions which do not comply with that legislation have no effect, and to the extent necessary, this Loan Contract is to be read so it does not impose obligations prohibited by that legislation. We encourage you to obtain independent legal advice and independent financial advice.

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 4 of 11

6.4 Corrections

7. PRIVACY CONSENT

(a) You authorise us to rectify any error made in processing or calculation any debit or credit made to the loan account. We may adjust debits and credits to the loan account so as to accurately reflect legal obligations under this Loan Contract. If we do this, it may make consequential adjustments (including to interest charges).

We may collect and use your personal information for arranging or providing credit, enforcing out rights under this Loan Contract, insuring credit and for direct marketing of products and services offered by us or any organisation we are affiliated with or represent. You have the right to request not to receive direct marketing material.

(b) We may assign a date on which credits provided to you under this Loan Contract that is on or after the date the transaction takes place. 6.5 Notices (a) The addresses for notices in respect of you are set out in the Schedule and the addresses for notice in respect of us are set in the commencement of the Schedule, or the last notified address set. (b) Either party may give a notice, information or document by: (i) Delivering it to the postal address, in which case the notice, information or document is taken to have been received on its date or the date it would have been received in the ordinary course of the post, whichever is later; (ii) Sending it via facsimile at the facsimile number in which case the notice, information or document is taken to have been received on the date it was faxed; and (iii) Sending electronically to the email address in which case the notice, information or document is taken to have been received on the day it enters into your information system (c) If you have entered an email address in the Schedule, you consent to us sending you notices, information or documents electronically and we are not required to give you paper copies. You should regularly check you emails for any notices that we may send you. You are free to revoke your consent at any time. 6.6 Statements As the interest rate is fixed for the duration of the Loan Contract, we are not required to send a statement of the loan account to you. 6.7 Joint Borrowers General (a) If there are two or more of you, each of you is individually liable, and all of you are jointly and severally liable. references to a person includes companies and trusts and any other kind of body. Singular words include plural words and vice versa. (b) Where there are two or more of you, each of you warrant to us that you will derive a direct benefit from entering into this Loan Contract. (c) You acknowledge that us relies on this warranty to enter into this Loan Contract with you. 6.8 Commission You are solely responsible for paying any commission charged by a broker, introducer or originator (Loan Broker) relating to this Loan Contract other than any commission set out in the Schedule. You hereby direct us to deduct from the Loan Amount, any such commission and forward payment directly to the Loan Broker on your behalf. 6.9 Variation We may by giving 30 days’ notice, vary any of the terms of this Loan Contract. We cannot vary the interest rate or the Repayments set out in the Schedule.

The information provided by you will be held by us. You can gain access to the information by contacting us. You agree that we, any mortgage broker, mortgage originator, mortgage manager, and any other person or company who at any time provides or has any interest in the credit, and who may be overseas entities, can do any of the following at any time: (a) Seek and use commercial credit information about you to assess an application for consumer credit or commercial credit; (b) Seek and use consumer credit information about you to assess an application for commercial credit or consumer credit; (c) Seek and use a credit report about you provided by a credit reporting agency to collect overdue payments from you or otherwise provide your personal information to an external agency for the purposes of collecting overdue payments from you; (d) Provide information to a mortgage insurer to assess the risk of providing mortgage insurance or to assess the risk of default; (e) Seek from and use or give to another credit provider any information about your account, credit worthiness, credit standing, credit history or credit capacity. In particular, we may provide an “opinion” on you; (f) Seek from and use or give to any mortgage broker, mortgage originator, mortgage manager, financial consultant, accountant, lawyer, or other adviser acting in connection with any financing provided or proposed to be provided to you any personal information, consumer or commercial credit information; (g) Give to a credit reporting agency personal or commercial information about you. The information may include identity particulars: i. the fact that credit has been applied for and the amount; ii. the fact that we are a current credit provider to you; that where payments have become overdue more than 60 days, * the fact that action is commenced; advice that payments are no longer overdue; iii. advice that cheques drawn by you in excess of $100 have been dishonoured more than once; iv. in specified circumstances that in our opinion you have committed a serious credit infringement; and v. the credit provided to you by us has been paid or other discharged; (h) Disclose any report or personal information about you to another person in connection with funding financial accommodation by means of an arrangement involving securitisation, or any other proposed transfer of or proposed dealing with your Loan Contract; (i) Provide information to any person who proposes to guarantee or has guaranteed repayment of any credit provided to you; and (j) Disclose personal and credit information about you as required by law, or to organisations involved in providing credit to you, or any associate, or contractor of ours (including, for example, stationery printing houses, mail houses, lawyers, accountants), people considering acquiring

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 5 of 11

or taking an interest in our business, or our assets, or any tribunal or court inquiring into any transaction we have with you or any person who deal with those transactions. If you do not provide personal information, we may be unable to arrange or provide credit for you. 8. POWER OF ATTORNEY For valuable consideration, you appoint us or our representatives to (at your cost) do all things and sign all documents to undertake and complete your obligations under this Loan Contract which you have failed to do or to otherwise give effect to the matters set out in this Loan Contract. 9. INTEREST ON JUDGEMENT If a liability under this Loan Contract or your mortgage becomes merged in a judgment or order then you must as an independent obligation pay interest to us on the amount of that liability from the date it becomes payable until it is paid both before and after the judgment or order despite the bankruptcy or insolvency of you at a rate being the higher of the rate payable under the judgment, order, bankruptcy, or insolvency and the rate payable under this Loan Contract. 10. JURISDICTION Governing Law This Loan Contract is governed by the laws of Victoria. Unless you advise us otherwise, the parties agree that any legal proceedings will be presided over by the law Courts of Broadmeadows, Victoria. 11. DEFINED TERMS Act means the National Consumer Credit Protection Act Group Entity means a related body corporate of MONEY3 Loan Contract means these terms and conditions and the Schedule PPSA means Personal Property Securities Act 2009 (Cth) Schedule means the schedule applicable to these terms and conditions. 12. INTERNAL DISPUTE RESOLUTION We hope you are delighted with our services, but if you have any complaints you should notify us by contacting our Complaints Officer by: • • • •

Telephone: 1300 329 131 Website: Completing our feedback form at: www.money3.com.au/feedback.php E-mailing: [email protected] Writing to: c/o Complaints Officer, Level 1, 40 Graduate Road, Bundoora, VIC, 3083

or by speaking to any representative of our business who will do everything they can to rectify your problem immediately. You should explain the details of your complaint as clearly as you can. You may do this verbally or in writin. When we receive a complaint, we will attempt to resolve it promptly. We hope that in this way we will stop any unnecessary and inappropriate escalation of minor complaints.

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 6 of 11

ACKNOWLEDGMENT You acknowledge the terms and conditions of this agreement including the schedule, and agree to be bound by the terms and conditions of this agreement. IMPORTANT BEFORE YOU SIGN

THINGS YOU MUST KNOW

* READ THIS CONTRACT DOCUMENT so that you know exactly what contract you are entering into and what you will have to do under the contract.

* Once you sign this contract document, you will be bound by it. However, you may end the contract before you obtain credit, or a card or other means is used to obtain goods or services for which credit is to be provided under the contract, by telling the credit provider in writing, but you will still be liable for any fees or charges already incurred.

* You should also read the information statement: "THINGS YOU SHOULD KNOW ABOUT YOUR PROPOSED CREDIT CONTRACT". * Fill in or cross out any blank spaces. * Get a copy of this contract document. * Do not sign this contract document if there is anything you do not understand.

* You do not have to take out consumer credit insurance unless you want to. However, if this contract says so, you must take out insurance over any mortgaged property that is used as security, such as a house or car. * If you take out insurance, the credit provider cannot insist on any particular insurance company. * If this contract document says so, the credit provider can vary the annual percentage rate (the interest rate), the repayments and the fees and charges and can add new fees and charges without your consent. * If this contract document says so, the credit provider can charge a fee if you pay out your contract early

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 7 of 11

If the borrower is a company, or if 50% or more of this loan is used for business or investment purposes (excluding investment in residential property), the loan will not be regulated by the National Credit Code despite any statement that the National Credit Code applies to this loan. The information statement below will only apply to you if your loan is regulated by the National Credit Code. This statement is prescribed by law. INFORMATION STATEMENT THINGS YOU SHOULD KNOW ABOUT YOUR PROPOSED CREDIT CONTRACT This statement tells you about some of the rights and obligations of yourself and your credit provider. It does not state the terms and conditions of your contract. If you have any concerns about your contract, contact your credit provider and, if you still have concerns, your credit provider's external dispute resolution scheme, or get legal advice. THE CONTRACT 1. How can I get details of my proposed credit contract? Your credit provider must give you a pre-contractual statement containing certain information about your contract. The pre-contractual statement, and this document, must be given to you before your contract is entered into; or  you make an offer to enter into the contract, whichever happens first. 2. How can I get a copy of the final contract? If the contract document is to be signed by you and returned to your credit provider, you must be given a copy to keep. Also, the credit provider must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply, if the credit provider has previously given you a copy of the contract document to keep. If you want another copy of your contract write to your credit provider and ask for one. Your credit provider may charge you a fee. Your credit provider has to give you a copy  within 14 days of your written request if the original contract came into existence 1 year or less before your request; or  otherwise within 30 days of your written request. 3. Can I terminate the contract? Yes. You can terminate the contract by writing to the credit provider so long as –  you have not obtained any credit under the contract; or  a card or other means of obtaining credit given to you by your credit provider has not been used to acquire goods or services for which credit is to be provided under the contract. However, you will still have to pay any fees or charges incurred before you terminated the contract. 4. Can I pay my credit contract out early? Yes. Pay your credit provider the amount required to pay out your credit contract on the day you wish to end your contract. 5. How can I find out the payout figure? You can write to your credit provider at any time and ask for a statement of the payout figure as at any date you specify. You can also ask for details of how the amount is made up. Your credit provider must give you the statement within 7 days after you give your request to the credit provider. You may be charged a fee for the statement. 6. Will I pay less interest if I pay out my contract early? Yes. The interest you can be charged depends on the actual time money is owing. However, you may have to pay an early termination charge (if your contract permits your credit provider to charge one) and other fees. 7. Can my contract be changed by my credit provider? Yes, but only if your contract says so.

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 8 of 11

8. Will I be told in advance if my credit provider is going to make a change in the contract? That depends on the type of change. For example you get at least same day notice for a change to an annual percentage rate. That notice may be a written notice to you or a notice published in a newspaper.  you get 20 days advance written notice for a change in the way in which interest is calculated;  a change in credit fees and charges; or  any other changes by your credit provider; except where the change reduces what you have to pay or the change happens automatically under the contract. 9. Is there anything I can do if I think that my contract is unjust? Yes. You should first talk to your credit provider. Discuss the matter and see if you can come to some arrangement. If that is not successful you may contact your credit provider’s external dispute resolution scheme. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. Your credit provider’s external dispute resolution provider is the Credit Ombudsman Service Limited and can be contacted on 1800 138 422 or 02 9273 8400, by fax at 9273 8440, by email at [email protected] or in writing to PO Box A252 SYDNEY SOUTH NSW 1235. Alternatively, you can go to court. You may wish to get legal advice, for example from your community legal centre or Legal Aid. You can also contact ASIC, the regulator, for information on 1300 300 630 or through ASIC’s website at http://www.asic.gov.au. INSURANCE 10. Do I have to take out insurance? Your credit provider can insist you take out or pay the cost of types of insurance specifically allowed by law. These are compulsory third party personal injury insurance, mortgage indemnity insurance or insurance over property covered by any mortgage. Otherwise, you can decide if you want to take out insurance or not. If you take out insurance, the credit provider cannot insist that you use any particular insurance company. 11. Will I get details of my insurance cover? Yes, if you have taken out insurance over mortgaged property or consumer credit insurance and the premium is financed by your credit provider. In that case the insurer must give you a copy of the policy within 14 days after the insurer has accepted the insurance proposal. Also, if you acquire an interest in any such insurance policy which is taken out by your credit provider then, within 14 days of that happening, your credit provider must ensure you have a written notice of the particulars of that insurance. You can always ask the insurer for details of your insurance contract. If you ask in writing your insurer must give you a statement containing all the provisions of the contract. 12. If the insurer does not accept my proposal, will I be told? Yes, if the insurance was to be financed by the credit contract. The insurer will inform you if the proposal is rejected. 13. In that case, what happens to the premiums? Your credit provider must give you a refund or credit unless the insurance is to be arranged with another insurer. 14. What happens if my credit contract ends before any insurance contract over mortgaged property? You can end the insurance contract and get a proportionate rebate of any premium from the insurer. MORTGAGES 15. If my contract says I have to give a mortgage, what does this mean? A mortgage means that you give your credit provider certain rights over any property you mortgage. If you default under your contract, you can lose that property and you might still owe money to the credit provider. 16. Should I get a copy of my mortgage? Yes. It can be part of your credit contract or, if it is a separate document, you will be given a copy of the mortgage within 14 days after your mortgage is entered into. However, you need not be given a copy if the credit provider has previously given you a copy of the mortgage document to keep.

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 9 of 11

17. Is there anything that I am not allowed to do with the property I have mortgaged? The law says you cannot assign or dispose of the property unless you have your credit provider’s, or the court’s, permission. You must also look after the property. Read the mortgage document as well. It will usually have other terms and conditions about what you can or cannot do with the property. 18.What can I do if I find that I cannot afford my repayments and there is a mortgage over property? See the answers to questions 22 and 23. Otherwise you may if the mortgaged property is goods - give the property back to your credit provider, together with a letter saying you want the credit provider to sell the property for you;  sell the property, but only if your credit provider gives permission first; OR 

give the property to someone who may then take over the repayments - but only if your credit provider gives permission first.

If your credit provider won’t give permission, you can contact their external dispute resolution scheme for help. If you have a guarantor, talk to the guarantor who may be able to help you. You should understand that you may owe money to your credit provider even after mortgaged property is sold. 19. Can my credit provider take or sell the mortgaged property? Yes, if you have not carried out all of your obligations under your contract. 20. If my credit provider writes asking me where the mortgaged goods are, do I have to say where they are? Yes. You have 7 days after receiving your credit provider’s request to tell your credit provider. If you do not have the goods you must give your credit provider all the information you have so they can be traced. 21. When can my credit provider or its agent come into a residence to take possession of mortgaged goods? Your credit provider can only do so if it has the court’s approval or the written consent of the occupier which is given after the occupier is informed in writing of the relevant section in the National Credit Code. GENERAL 22. What do I do if I cannot make a repayment? Get in touch with your credit provider immediately. Discuss the matter and see if you can come to some arrangement. You can ask your credit provider to change your contract in a number of ways:  to extend the term of the contract and reduce payments; or  to extend the term of your contract and delay payments for a set time; or  to delay payments for a set time. 23. What if my credit provider and I cannot agree on a suitable arrangement? If the credit provider refuses your request to change the repayments, you can ask the credit provider to review this decision if you think it is wrong. If the credit provider still refuses your request you can complain to the external dispute resolution scheme that your credit provider belongs to. Further details about this scheme are set out below in question 25. 24. Can my credit provider take action against me? Yes, if you are in default under your contract. But the law says that you cannot be unduly harassed or threatened for repayments. If you think you are being unduly harassed or threatened, contact the credit provider’s external dispute resolution scheme or ASIC, or get legal advice. 25. Do I have any other rights and obligations? Yes. The law will give you other rights and obligations. You should also READ YOUR CONTRACT carefully.

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 10 of 11

IF YOU HAVE ANY COMPLAINTS ABOUT YOUR CREDIT CONTRACT, OR WANT MORE INFORMATION, CONTACT YOUR CREDIT PROVIDER. YOU MUST ATTEMPT TO RESOLVE YOUR COMPLAINT WITH YOUR CREDIT PROVIDER BEFORE CONTACTING YOUR CREDIT PROVIDER’S EXTERNAL DISPUTE RESOLUTION SCHEME. IF YOU HAVE A COMPLAINT WHICH REMAINS UNRESOLVED AFTER SPEAKING TO YOUR CREDIT PROVIDER YOU CAN CONTACT YOUR CREDIT PROVIDER’S EXTERNAL DISPUTE RESOLUTION SCHEME OR GET LEGAL ADVICE. EXTERNAL DISPUTE RESOLUTION IS A FREE SERVICE ESTABLISHED TO PROVIDE YOU WITH AN INDEPENDENT MECHANISM TO RESOLVE SPECIFIC COMPLAINTS. YOUR CREDIT PROVIDER’S EXTERNAL DISPUTE RESOLUTION PROVIDER IS THE CREDIT OMBUDSMAN SERVICE LIMITED AND CAN BE CONTACTED ON: BY PHONE: 1800 138 422 OR 02 9273 8400, BY FAX: 02 9273 8440, BY EMAIL: [email protected] OR IN WRITING TO: PO BOX A252 SYDNEY SOUTH NSW 1235. PLEASE KEEP THIS INFORMATION STATEMENT. YOU MAY WANT SOME INFORMATION FROM IT AT A LATER DATE.

MONEY3 Registered Office Address: Level 1, 48 High Street Northcote VIC 3070 Head Office Address: Level 1, 40 Graduate Road Bundoora, VIC, 3083 Phone: 1300 329 131 Fax: 03 9093 8225 Email: [email protected] Web: www.money3.com.au

Money3 Corporation Pty Ltd ABN 63 117 296 143 Australian Credit Licence 389 782 Fixed Loan Contract Terms & Conditions Version 6.1, March 2013

Page 11 of 11