Website Terms of Use

Version 2022-2

This Website is owned by us, and these terms govern your use of this Website. By accessing and browsing this Website you agree to be bound by these terms and our Privacy Policy.

We reserve the right to modify or amend these terms at any time. It is recommended that you check these terms from time to time.

The meaning of capitalised words in these terms are set out in clause 40 below.

Accounts

1. In order to access and use the Service, you must apply to create an account via our Website (an “Account”).

2. Accounts are created and maintained at our sole discretion, and we reserve the right to:

1. reject your Account application if you have not completed the Account creation process to our satisfaction, or you do not meet our eligibility criteria; and

2. suspend or terminate your Account at any time if we reasonably believe that you are not complying with these or any other terms, or are not using the Service for its intended purpose.

We will endeavour to give you notice of any such rejection, suspension, or termination.

3. Our eligibility criteria for creating an Account are:

1. you must be a natural person (that is, not a company, partnership, incorporated society, trust, or other legal entity);

2. you must be an Australian citizen or permanent resident, or a New Zealand citizen, which we will verify through you having an Australian residential address and a bank account with a registered Australian bank;

3. you must be 18 years of age or older; and

4. you must have an acceptable credit record, as determined by us at our discretion.

4. You may terminate your Account at any time by notifying us through the Website, via 1300 042 766, or customerservice@harmoney.com.au.

5. These terms will apply to you for so long as you hold an Account. If your Account is suspended or terminated, these terms will continue to apply in respect of any existing Loans and Loan Agreements to which you are a party.

Loan process

6. If you want to take out a Loan using the Service, you must complete a Loan Application in which you nominate:

1. the proposed Loan Amount (expressed as a multiple of $25), or the lesser amount that we are willing to lend you based on your serviceability. This will include an amount payable to us as an Establishment Fee if you obtain the Loan; and

2. the period (in months) over which the Loan will be repayable.

7. As part of the Loan Application, you must provide us with details of your bank account with a registered bank in Australia, from which payments are to be made by you in respect of your Loan. By providing those details you agree to us establishing a direct debit authority against that bank account, on the terms set out in the authority, in relation to any amount payable by you under a Loan Agreement.

8. If we approve your Loan Application, we will state the maximum Loan Amount and the Interest Rate applicable to your Loan Application. You may then select your desired Loan Amount, up to the maximum.

9. You may cancel your Loan Application at any time, via the Website, before the Loan Agreement has been formed.

Loan Agreement

10. If we accept your offer to borrow, we will notify you of that fact by providing you with the Loan Agreement Details setting out the key terms of the proposed Loan. The Loan Agreement Details will be deemed to have been provided to you on the day on which it is emailed to you or otherwise sent to you by electronic communication (within the meaning of the Electronic Transactions Act 1999 (Cth)).

11. Immediately after we have accepted your offer to borrow and provided the Loan Agreement Details to you, a Loan Agreement will come into existence under which we will agree to advance the Loan Amount to you.

12. You should contact us if you are not clear as to any of the information set out in the Loan Agreement Details.

13. If you have applied for a Secured Loan and we accept your offer to borrow, we will provide you with you a webform for the purposes of you granting us a Security Interest in Secured Property under the PPSA (“Security Schedule”). You must complete and execute the Security Schedule.

14. You agree:

1. to receiving communication by electronic means, and nominate the email address specified in the Loan Application (or such other email address as you may notify to us) as the information system to which the Loan Agreement may be sent; and

2. that the Loan Agreement may be provided to you by sending you an electronic communication that allows the Loan Agreement to be accessed from the Website or by means of the internet.

Settlement

15. Your Loan will be Settled on the next Business Day after we have provided you with the Loan Agreement Details.

16. At Settlement, we will:

1. arrange for the funding of the Loan Amount, and depositing of the Loan Amount in our Advance Account; and

2. as authorised by you:

1. deduct an amount equivalent to the Establishment Fee from the Loan Amount, and transfer it to our fee account, in satisfaction of your obligation to pay that Establishment Fee to us; and

2. transfer the balance of the Loan Amount to your Nominated Account or as directed by you.

17. You acknowledge and agree that:

1. we provide the Service under an Australian Credit Licence issued by the Australian Securities and Investments Commission; and

2. you may have only one Loan outstanding at any time, under a Loan Agreement, with a Loan Amount of not more than $70,000 (excluding the Establishment Fee in relation to that Loan).

Collection service

18. We will provide (ourselves or through a third party) collection and enforcement services in respect of your Loans, including:

1. monitoring all payment obligations under each Loan Agreement;

2. taking appropriate steps to contact you for payment arrears; and

3. taking appropriate recovery action where there is a payment default.

Co-borrowers

19. If you are a co-borrower under a Loan Agreement then:

1. you will have the same rights and obligations as the other borrower under the Loan Agreement, both jointly and severally;

2. you consent to us providing your personal information to the other borrower; and

3. we are entitled to accept instructions from either you or the other borrower (without reference to the other) in respect of your rights and obligations under a Loan Agreement.

Disclaimer of warranties

20. In providing the Service, we will:

1. exercise the care, diligence, and skill that a prudent licensee for the Service would exercise in the same circumstances; and

2. if any aspect of the Service is contracted out, take all reasonable steps to:

1. ensure that those functions are performed in the same manner, and are subject to the same duties and restrictions, as if we were performing them directly; and

2. monitor the performance of those functions.

21. We will use our best endeavours to ensure that the Service meets your needs and objectives, however you acknowledge that you do not rely on Harmoney’s skill or judgment as to the suitability or otherwise of the Service for your specific needs.

22. Although we endeavour to ensure that all information on the Website is current, accurate and complete:

1. we do not guarantee that such content will be current, accurate or complete when you access it. We will take action, within a reasonable time, to correct any error or inaccuracy which is brought to our attention;

2. you acknowledge that this Website may not be available at all times or some of the functions on this Website may be temporarily unavailable, and that we will not be liable to you in respect of any inability to access or use this Website at any time; and

3. to the extent permitted by law, all warranties, representations and guarantees (whether express, implied or statutory) are excluded, including without limit, suitability, fitness for purpose, accuracy or completeness of this Website or the content on or accessed through it.

23. Except for applicable and non-excludable consumer guarantees, rights or warranties ("Consumer Guarantees") under consumer laws, we do not give any warranties or guarantees in relation to the Service.

24. Nothing in these terms is to be taken to exclude, restrict or modify any Consumer Guarantee where prohibited. To the extent that a Consumer Guarantee applies (and where the relevant Service is not of a kind ordinarily acquired for personal, domestic or household use) our liability for breaches of that Consumer Guarantee is limited, as far as the law permits, to the re-supply of the Service or the cost of the re-supply.

25. No agent who promotes our Service is authorised to act as our agent to agree or negotiate or change any term of a Loan Agreement or to make any warranties or representations about it, oral or otherwise. You may have rights against us (in particular if we are a "linked credit provider" under consumer laws).

Liability

26. To the extent permitted by law, we exclude all liability for any damage, loss or expenses, or indirect losses or consequential damages of any kind, loss of income, loss of profit or interruption of business, suffered or incurred by you in connection with your access to or use of this Website or the content on or accessed through it.

27. You acknowledge and agree that none of us, our related entities, or our/their respective employees, directors, officers, agents, and contractors (together, “Relevant Persons) will be liable in respect of:

1. any failure to provide the Service or otherwise to comply with these terms, if the failure or non-compliance is caused by events beyond its reasonable control; or

2. any Loan Application not achieving funding;

28. The liability (if any) of any Relevant Person in relation to any Loan will be limited to the amount of the Establishment Fee actually received by us for that Loan.

Back-up Service Provider

29. If we enter into liquidation or have our Australian Credit Licence revoked or suspended, a back-up servicer will be appointed to carry out our role. Any such appointment will not affect your rights and obligations under a Loan Agreement. The appointed back-up servicer from time to time will have the same rights as we did, without further action being necessary.

Communications and Disputes

30. We may provide you with communications in relation to the provision of the Service, including notices and disclosures, by mail or in an electronic form, including by email.

31. You must provide notices to us by mail (posted to our registered address) or by email to the email address below.

32. If you have any questions about the Service or these terms of this Agreement, please contact us as follows:
    Phone: 1800 042 766
    Email:customerservice@harmoney.com.au

33. We are a member of the Australian Financial Complaints Authority (“AFCA”). AFCA is a free and independent disputes resolution service that assists individual customers. AFCA can be contacted on 1800 931 678 or at info@afca.org.au.

Anti-money laundering

34. We, and certain persons who participate or propose to participate in the funding of Loans to you (“Affected Investors”) may have initial, ongoing or enhanced customer due diligence and other obligations under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) (or equivalent legislation in other countries) and related regulatory directives or guidelines. You agree to provide us, promptly on our request, with any information and documents that we reasonably require to enable us, or any Affected Investor, to comply with these obligations. You authorise us (subject to relevant privacy laws), to disclose any information or documents we hold about you (including any information or documents you provide to us under this clause) to any Affected Investor for this purpose.

General terms

35. Intellectual property: All intellectual property (including copyright and trade mark rights) in the content of this Website (including without limitation, in the compilation, design, layout, text and graphics) is owned by or licensed to us (or our suppliers). Except where necessary for viewing this Website in your browser, or as permitted under these terms, the Copyright Act 1968 (Cth) or other applicable laws, no material on this Website may be reproduced, adapted, uploaded to a third party, linked to, framed, distributed, displayed or transmitted in any form by any process without our specific written consent.

36. Use of this Website: You may access, view, reproduce and print the content on this Website provided you only use that content for your personal use, or otherwise in relation to using or considering using any of the services we provide through this Website. Unless expressly agreed otherwise, products and services advertised on the Website will be provided only to Australian citizens or permanent residents, or New Zealand citizens. These products and services are not available to foreign nationals due to Australian compliance requirements. If you wish to link to any part of this Website, you must obtain our prior written consent.

37. Third party websites: This Website may contain links to third party websites. These websites are not controlled by us, and we do not check, endorse, approve or agree with such third party websites. Any goods and services or offers made on the third party websites are given by the third party website operator and we disclaim any actions of the third party website operator (including breach of intellectual property rights) and make no representations about the quality, accuracy, or fitness for purpose of material or products or services available through the third party websites. If you use a link from the Website to a third party website, the third party website operator is responsible for the security and privacy of your information when you are viewing that website.

38. Amendments: By continuing to use this Website after any amendment to these terms, you are deemed to have agreed to those amendments.

39. Jurisdiction and governing law: This Website has been prepared in accordance with the requirements of Australian law. These terms and any matters or disputes connected with the Website will be governed by Australian law and will be dealt with by Australian courts. This Website may not comply with laws of other countries and should not be relied on by persons in countries other than Australia.

Definitions

40. In these terms:

• Account has the meaning given to it in clause 1.

• Advance Account means the bank account operated by us into which funding for Loan Amounts is transferred by us, and from which we transfer funds to the relevant borrower's Nominated Account at Settlement.

• Business Day means a day other than a Saturday, Sunday, or statutory public holiday in Australia.

• Consumer Guarantee has the meaning given to that term in clause 22.

• Establishment Fee means the fee payable by a borrower to us for arranging any Loan that Settles, which is a percentage of the Loan Amount (as set out in the Loan Agreement and on the Website under the “Rates & Fees” section).

• Interest Rate means the annual interest rate (expressed as a percentage rate per annum) which is set by us in respect of a Loan.

• Loan means the Loan Amount lent by us to a borrower, using the Service, and where applicable includes the amount of all compounded and capitalised interest. The types of Loans we provide include Unsecured Loans and Secured Loans.

• Loan Agreement means the agreement under which a Loan is made, comprising the Loan Agreement Details and Loan Agreement General Terms. If you have applied for a Secured Loan, the Loan Agreement also includes a security agreement.

• Loan Agreement Details means, in respect of any Loan, the initial disclosure which is provided to the borrower in respect of that Loan.

• Loan Amount means, as the context requires:

• the amount that a borrower wishes to borrow (inclusive of the amount of the Establishment Fee payable on the Loan), as set out in the relevant Loan Application; or

• the total amount of the Loan at Settlement (inclusive of the amount of the Establishment Fee deductible by us at Settlement), as set out in the Loan Agreement Details;

• Loan Application means the application for a Loan, which is set out on the Website.

• Loan Repayments means, as the context requires:

• the monthly payments of principal and interest which will be payable by the borrower in respect of the Loan Amount specified in a Loan Application or Loan Agreement; or

• the monthly payments of principal and interest which are payable by the borrower on a Loan which has Settled, as specified in the Loan Agreement Details.

• Nominated Account means the Australian bank account which is nominated by a borrower from time to time as the account into which Loan advances are to be paid by us for that borrower at Settlement.

• PPSA means the Personal Property Securities Act 2009 (Cth).

• Privacy Policy means our privacy policy, which is set out on the Website.

• Repayment Period in relation to a Loan means the period (in months) for which the Loan has been made to you which you accepted on the Website.

• Secured Loan means a personal loan provided by Harmoney that requires collateral, namely Secured Property.

• Secured Property means any property which you use the Loan Amount (in whole or in part) to acquire and in respect of which you grant us a Security Interest by executing a Security Schedule.

• Security Interest means a mortgage, transfer, pledge, lien or charge, or any security preference or arrangement of any kind which allows a creditor to have its claims satisfied prior to other creditors from the proceeds of an asset. It includes a security interest under the PPSA.

• Security Schedule has the meaning given to it in clause 13 above.

• Service means the lending service which Harmoney provides through the Website.

• Settlement in relation to a Loan means us arranging for the funding of the Loan Amount, deducting the applicable Establishment Fee for our own account, and transferring the balance of the Loan Amount to the borrower's Nominated Account (all via the Advance Account), and the time at which the above transfer occurs, and Settle and Settled have corresponding meanings.

• Unsecured Loan means a personal loan provided by Harmoney that does not require any type of collateral.

• we, our, us and similar terms means Harmoney Australia Pty Ltd (ACN 604 342 823) and its related entities (as defined in the Corporations Act 2001).

• Website means www.harmoney.com.au and any subdomains, and any other website we may operate from time to time.