Terms and Conditions Of Loan Offer

THIS LOAN OFFER is made on the Offer Date stipulated in Item 1 of the Schedule.

BETWEEN The Lender described in Item 2 of the Schedule who offers to lend the Borrower, the Loan Amount, from the Draw Down date, for the Term, as detailed in the Schedule upon the following Terms and Conditions.

AND The Borrower described in Item 3 of the Schedule.

The Borrower and the Lender Agree As Follows:

Meaning of the words:

Principal means the amount loaned by the Lender exclusive of Charges and Fees.

Business Day means a day other than a Saturday or Sunday or a Statutory Holiday.

Borrower means the person detailed in Item 3 of the Schedule.

Default Fees means a fee charged for rescheduled payments, dishonoured payments or extended loans as detailed under Item 7 of the Schedule.

Direct Debit Request means the form as detailed under Item 12 of the Schedule authorising the Lender or its’ nominee to debit funds from the Borrower’s account under the terms of the Direct Debit Request Service Agreement included herein.

Draw Down means the day or date that the Loan is made to the Borrower.

Collections Agent means the collections agent that the Lender may appoint to recover the Loan should the Borrower be in default in the performance of its obligations under this Agreement.

GST means the goods and services tax described in the A New Tax System (Goods and Services Tax) Act 1999 and related Acts, or any similar Tax.

Loan Instalments means payments made by the Borrower or debited directly from the Borrower’s bank account to repay the Loan Amount, any Interest Charge, Loan Application Fee, Reschedule Fee, Dishonour Fee and any Loan Extension fee.

Insurance means an insurance taken over the Asset as deemed suitable by the Lender.

Interest means interest charged on the Principal, detailed in Item 4 of the Schedule.

Loan Amount means the total amount loaned to the Borrower by the Lender detailed as Loan Amount in Item 4 of the Schedule.

Special Conditions means any additional conditions as stipulated in Item 8 of the Schedule.

The Borrower warrants that:

They have the power and authority to enter into and observe the obligations of this Agreement.
They are the beneficial owner and have unencumbered title to any Asset being offered as security under a Bill of Sale.
They will ensure that all Loan Instalments are paid on the Due Date as specified under Item 6 of the Schedule.
They have requested under Item 11 of the Schedule that the Lender debit the Borrower’s bank account and will ensure that their bank account will carry sufficient funds to enable the debit to be honoured on each occasion.
They acknowledge and unconditionally accept any nominated Special Condition as detailed under Item 8 of the Schedule.
They unconditionally accept that the Lender may charge Default Fees for any Loan Instalments that are not honoured or are in default in any way by the Borrower’s financial institution.
They unconditionally accept that the Lender shall at its sole discretion attempt to recover outstanding payments and charges by Direct Debit up to 365 days after the last due date.
They will cooperate with the Lender or its nominated Collections Agent should the Borrower default in the performance of its obligations under this Agreement.
They will keep the Lender informed of any situation that may affect the Lender’s ability to direct debit from the Borrower’s bank account specified in the Direct Debit Request form annexed to this Agreement.
As further security the Borrower here by charges (by execution of this Deed as beneficial owner) all freehold and leasehold interest in any land(s) (or any part thereof) which the Borrower may now have or during the currency of the securities may acquire and the Borrower further agrees that the Lender may require execution by the Borrower of such form of additional security containing the same terms and conditions as contained therein. The Lender shall in addition have the right to lodge a Caveat over any real and/ or personal property of the Borrower howsoever held and the Borrower hereby (by execution of this Deed) agrees and acknowledges that this Loan Offer document creates in favour of the Lender a Caveatable interest in respect of any Real Property of the Borrower howsoever held.
They will have adequate Insurance over items offered as security acceptable to the Lender.

Default:

The Borrower will be in default under this Agreement if;

Any Loan Installments is not paid on the Due Date;
The Borrower is in breach of any warranty stated in clause 2.

Indemnity

The Borrower hereby indemnifies by continuing indemnity the Lender against any liability, loss, cost, charges or expenses arising as a consequence of,

Any default under this Agreement, the Loan Offer Document or any other associated document or;
Any actions, proceedings, costs, claims or demands in connection with Loan Offer document or any other associated document.

Application of Monies.

To the extent permitted by law, monies received toward the satisfaction of the Loan Amount outstanding are to be applied as follows:

Firstly, in payment toward the satisfaction of the balance of the Loan Amount outstanding;
Secondly, in payment toward any Default Fees including but not restricted to, Reschedule Fees, Dishonour Fees, Loan Extension fees and all costs, charges and expenses incurred in the exercise or attempted exercise by the Lender or its agents of any right under this Agreement;
Thirdly, to the extent not otherwise applied, to the Borrower or any other person entitled to them.

Law

This Agreement is deemed to be formed at Cairns in the State of Queensland and shall be governed by the laws of that State. The Borrower hereby submits to the exclusive jurisdiction of the Courts of that State at the place at which any proceedings are commenced by the Lender.

Execution

This Agreement may be executed in one or more counterparts and shall be deemed to be binding upon the parties by exchange by them by facsimile of a copy of this Agreement executed by both of them.

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Information Statement

section 14(1)(b) of the Code
section 11 of the regulation

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 Government Consumer Agency, or get legal advice.

THE CONTRACT

How can I get details of my proposed credit contract?

Your credit provider must give you a precontractual statement containing certain information about your contract. The precontractual 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.

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.

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.

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.

How can I find out the pay out figure?

You can write to your credit provider at any time and ask for a statement of the pay out 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.

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.

Can my contract be changed by my credit provider?

Yes, but only if your contract says so.

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-
1. A change in the way in which interest is calculated; or
2. A change in credit fees and charges; or
3. 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.

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 could apply to the court. Contact the Government Consumer Agency or get legal advice on how to go about this.

GENERAL

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, for example-

To extend the term of the contract and either reduce the amount of each payment accordingly or defer payments for a specified period; or
To simply defer payments for a specified period.

What if my credit provider and I cannot agree on a suitable arrangement?

If you have been unemployed, sick or there is another good reason why you are having problems with your contract, then your contract may be able to be changed to meet your situation.

You may be able to apply to the court. Contact your Government Consumer Agency or get legal advice on how to go about this. There are other people, such as financial counselors, who may be able to help.

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 your Government Consumer Agency or the Trade Practices Commission, or get legal advice.

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.

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Terms and Conditions of Direct Debit Authority

Direct Debit Request Service Agreement

THIS DIRECT DEBIT REQUEST is made effective on the Direct Debit Request Date stipulated in Item 1 of the Schedule.

BETWEEN The Lender described in Item 2 of the Schedule.

AND The Borrower described in Item 3 of the Schedule.

The Borrower and the Lender Agree as Follows:

Definitions

account means the account held at The Borrower’s financial institution from which The Lender or its nominee is authorised to arrange for funds to be debited.

agreement means this Direct Debit Request Service Agreement between The Borrower and The Lender.

business day means a day other than a Saturday or a Sunday or a public holiday listed throughout Australia.

debit day means the day that payment by The Borrower to The Lender is due.

debit payment means the day that payment by The Borrower to The Lender is due.

debit payment means a particular transaction where a debit is made.

direct debit request means the Direct Debit Request between The Lender and The Borrower attached as Item 12 of the Schedule.

Loan Agreement means any contracted agreement by way of a signed Loan Offer Document detailing the terms and conditions of the Loan offered by the Lender and accepted by the Borrower.

The Lender means as detailed in Item 2 of the Schedule or its’ nominee Same Day Money Pty Ltd, P.O. Box 235, Earlville, Qld. 4870, the Debit User that The Borrower has authorised by signing a direct debit request.

The Borrower means the customer/s detailed in Item 3 of the Schedule.

The Borrower’s financial institution is the financial institution where The Borrower holds the account that The Borrower has authorised The Lender to arrange to debit.

Debiting The Borrower’s account

By signing a direct debit request, The Borrower has authorized The Lender to arrange for funds to be debited from The Borrower’s account. The Borrower should refer to the direct debit request and this agreement for the terms of the arrangement between The Lender and The Borrower.
The Lender will only arrange for funds to be debited from The Borrower’s account as authorized in the direct debit request.
If the debit day falls on a day that is not a business day, The Lender may direct The Borrower’s financial institution to debit The Borrower’s account on the following business day. If The Borrower is unsure about which day The Borrower’s account has or will be debited The Borrower should ask The Borrower’s financial institution.

Changes by The Lender

The Lender may vary any details of this agreement or a direct debit request at any time by giving The Borrower at least fourteen (14) days’ written advice.

Charges by The Borrower

Subject to 3.2 and 3.3 of the Direct Debit Terms and Conditions, The Borrower may change the arrangements under a direct debit request by contacting The Lender in writing at P.O. Box 235, Earlville, Qld. 4870
If The Borrower wishes to stop or defer a debit payment The Borrower must notify The Lender in writing at least two (2) business days before the next debit day. This notice should be given to The Lender in the first instance.
The Borrower also cancel The Borrower’s authority for The Lender to debit The Borrower’s account at any item by giving The Lender 14 days notice in writing before the next debit day. This notice should be given to The Lender in the first instance.

The Borrower’s Obligations

It is The Borrower’s response ability to ensure that there are sufficient clear funds available in The Borrower’s account to allow a debit payment to be made in accordance with the direct debit request.
If there are insufficient clear funds in The Borrower’s account to meet a debit payment:
1. The Borrower may be charged a fee and/or interest by The Borrower’s financial institution.
2. The Borrower may also incur fees or charges imposed or incurred by The Lender; and
3. The Borrower must arrange for the debit payment to be made by another method or arrange for sufficient clear funds to be in The Borrower’s account by an agreed time so that The Lender can process the debit payment.
The Borrower should check The Borrower’s account statement to verify that the amounts debited from The Borrower’s account are correct.
If the Lender or its’ nominee is liable to pay goods and services tax (“GST”) on a supply made in connection with this agreement, then The Borrower agrees to pay the Lender on demand an amount equal to the consideration payable for the supply multiplied by the prevailing GST rate.

Dispute

If The Borrower believes that there has been an error in debiting The Borrower’s account, The Borrower should notify The Lender directly on 07 4054 3370 and confirm that notice in writing with The Lender as soon as possible so that The Lender can resolve The Borrower’s query more quickly.
If The Lender concludes as a result of our investigations that The Borrower’s account has been incorrectly debited The Lender will respond to The Borrower’s query by arranging for The Borrower’s financial institution to adjust The Borrower’s account (including interest and charges) accordingly. The Lender will also notify The Borrower in writing of the amount by which The Borrower’s account has been adjusted.
If The Lender concludes as a result of our investigations that The Borrower’s account has not been incorrectly debited The Lender will respond to The Borrower’s query by providing The Borrower with reasons and any evidence for this finding.
Any queries The Borrower may have about an error made in debiting The Borrower’s account should be directed to The Lender in the first instance so that The Lender can attempt to resolve the matter between The Lender and The Borrower. If The Lender cannot resolve the matter The Borrower can still refer it to The Borrower’s financial institution which will obtain details from The Borrower of the disputed transaction and may lodge a claim on The Borrower’s behalf.

Accounts

The Borrower should check:

with The Borrower’s financial institution whether direct debiting is available from The Borrower’s account as direct debiting is not available on all accounts offered by financial institutions.
The Borrower’s account details which The Borrower have provided to The Lender are correct by checking them against a recent account statement; and
with The Borrower’s financial institution before completing the direct debit request if The Borrower have any queries about how to complete the direct debit request.

Confidentiality

The Lender will keep any information (including The Borrower’s account details) in The Borrower’s direct debit request confidential. The Lender sill make reasonable efforts to keep any such information that The Lender has about The Borrower secure and to ensure that any of The Lender’s employees or agents who have access to information about The Borrower do not make any unauthorized use, modification, reproduction or disclosure of that information.
The Lender will only disclose information that The Lender has about The Borrower.
1. to the extent specifically required by law; or
2. for the purposes of this agreement (including disclosing information in connection with any query or claim)

Notice

If The Borrower wishes to notify The Lender in writing about anything relating to this agreement, The Borrower should write to Same Day Money Pty Ltd, P.O. Box 235, Earlville, Qld. 4870.
The Lender will notify The Borrower by sending a notice in the ordinary post to the address The Borrower has given The Lender in the direct debit request.
Any notice will be deemed to have been received two business days after it is posted.

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PRIVACY ACT AUTHORITY & DECLARATION

I/We agree that Same Day Money may exchange any information about me/us including:-

Any other information provided by me/us in this loan application any other personal information I/we provide to any of them or which they otherwise lawfully obtained about me/us
Transaction details or transaction history arising out of my/our arrangements with Same Day Money.

If Same Day Money engages anyone (a “Service Provider”) to do something on its behalf (for example a mailing house or a data processor) then I/we agree that Same Day Money and the Service Provider may exchange with each other any information referred to above for the purpose of the processing of this loan application and for general account administration.

I/We understand that if I/we fail to provide any information requested in this form, or do not agree to any of the possible exchanges or uses detailed above, my/our loan application may not be accepted by Same Day Money.

Acknowledgement & Consent That Credit Information May Be Given To A Credit Reporting Agency

I/We understand that section 18E(8)© of the Privacy Act allows Same Day Money to give a credit reporting agency certain personal information about me/us which I/we authorize Same Day Money to do and/or allow the credit reporting agency to create or maintain a credit information file containing information about me/us. The information which may be given to an agency is covered by Section 18E of the Act and includes:-

Such permitted particulars about me/us which allows me/us to be identified.
The fact that I/we have applied for credit and the amount.
The fact that Same Day Money is a credit provider to me/us.
Payments which become overdue more than 60 days and for which collection action has commenced.
Advice that payments are no longer overdue.
Cheques drawn by me/us for $100 or more which have been dishonoured more than once.
In specified circumstances, that in the opinion of Same Day Money I/we have committed a serious credit infringement.
That the credit provided to me/us by Same Day Money has been paid or otherwise discharged.

Authority For Same Day Money To Obtain Certain Credit Information

I/We authorise Same Day Money to obtain from credit reporting agencies a credit report containing personal credit information for the purpose of assessing my/our loan application for personal credit.

I/We authorise Same Day Money to obtain from credit reporting agencies a credit report containing personal credit information for the purpose of assessing my/our loan application for commercial credit.

I/We authorise Same Day Money to obtain from a business persons a report about my/our commercial activities or commercial credit worthiness for the purpose of assessing my/our loan application for personal credit.

Access To Commercial Credit Information (Section 18L(4) Privacy Act 1988)

I/We agree that Same Day Money may obtain information about me/us from a business which provides information about the commercial credit worthiness of persons for the purpose of assessing my/our loan application for commercial credit.

Access To Commercial Credit Information (Section 18K(4) Privacy Act 1988)

I/We agree that Same Day Money may obtain a consumer credit report containing information about me/us from a credit reporting agency for the purpose of assessing my/our loan application for commercial credit.

Authority To Exchange Information With Other Credit Providers

I/We authorise to give and obtain from credit providers named in the accompanying credit application and credit providers that may be named in a credit report issued by a credit reporting agency information about my/our credit arrangements.

I/We understand this information can include any information about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act, 1988 and can be used to asses my/our application for credit, to notify other credit providers of a default by me/us, to exchange information with other credit providers as to the status of this loan where I/we am/are in default with other credit providers and to assess my/our credit worthiness.

I/We authorize to give and receive a credit provider’s credit reference for purposes connected with my/our business, trade or profession.

Authority To Provide Information To Guarantors

I/We authorize Same Day Money to provide to any Guarantor/s named herein any information relating to my/our credit worthiness, credit standing, credit history or credit capacity for the purpose of considering whether to act as a guarantor of the proposed facility or in the event that the loan application is approved.

Agreement To A Credit Provider Disclosing A Report Including A Consumer Credit Report To Potential Or Existing Guarantor (Section 18K (1) Privacy Act 1988)

I/We agree that Same Day Money may give to a person who is currently a guarantor, or whom I/we indicated is considering becoming a guarantor, a credit report containing information about me/us for the purpose of Same Day Money deciding whether to act as a guarantor, or to keep Same Day Money informed about the guarantee.

I/We understand that the information disclosed can include anything about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to disclose under the Privacy Act, and includes a credit report.

Other Acknowledgements & Authorities

I/We have checked and confirm that the information given to Same Day Money in this loan application form is in all respects true, complete and correct. This information has been given to Same Day Money to enable it to decide whether or not to grant a loan to me/us. I/We acknowledge that Same Day Money will rely on this information when making its’ decision.

I/We acknowledge that Same Day Money has the right to confirm the details of the information provided in this loan application.

I/We acknowledge that this loan application is not to be regarded as an offer or acceptance of credit under any legislation relating to the provision of credit. The representations I/we have made on this form will not become part of any contract which may come into existence between Same Day Money and me/us.

I/We understand that only Same Day Money can decide whether this loan application is approved and that any person who may have introduced me/us to Same Day Money has no authority to give that approval.

It is acknowledged that the above authorities continue until the credit facility provided to the applicant(s) is repaid in full and the credit facility terminated.

I/We have read and agree to the acknowledgements and authorities relating to the protection of my/our privacy & contents of this loan application form.

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Identification Requirements

A copy of ONE of the following showing your name:
1. Passport
2. Drivers License
3. 18+ Card
4. Bank ATM or Credit Card
5. Medicare Card
A copy of your last Payslip, Pay Advice or Centrelink Income Statement or both if applicable.
A copy of your last Bank Statement for at least the last six weeks.

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