Instalment Loan Promissory Note by uhv20386

VIEWS: 192 PAGES: 19

More Info
									                                                   CONSUMER BOOKLET
                                                    YOUR PROMISSORY NOTE
                                                      or LOAN CONTRACT
                                                      WITH RAPID LOANS

In accepting this booklet, the Consumer thereby acknowledges and agrees to the stated and implied
terms and conditions in the following sections of this booklet. This Consumer Booklet is provided
to assist Consumer understanding of the securing of funds from Rapid Loans. Each funding
arrangement with Rapid Loans may be either a Promissory Note arrangement or a Loan Contract.
The Consumer’s and Rapid Loans’ responsibilities are similar for both but any differences are noted
in this booklet. It is not intended to imply or warrant that this booklet’s contents constitute a
complete explanation, nor is it intended to be a replacement or substitute for the obtaining of
independent legal and financial advice.
This booklet should be read in conjunction with the Pre-contractual Statement and the Promissory
Note Contract, or your Loan Contract, before you sign any documents, including this Declaration:
Consumer Financial Stability and Certificate of Acknowledgement, whereby you acknowledge
acceptance of this Consumer Booklet and its content.”
DEFINITIONS
“Funds”                 Means the amount provided by Rapid Loans, exclusive of the cost of credit
“Funds Secured”         Means funds provided by Rapid Loans to the Consumer, plus the cost of
                        credit included in the Promissory Note face value or Loan Contract, plus all
                        fees and charges incurred by way of one or more defaults, if any
“Assets”                Means the item/s offered as security against the Promissory Note or Loan
                        Contract and detailed in the Bill of Sale
“Business Day”          Means a day other than a Saturday or Sunday or a statutory holiday
“Bill of Sale”          Means the charge taken over the Assets detailed in the Bill of Sale
                        document, enabling Rapid Loans to take possession and dispose of the
                        Asset to recover the funds, should the Consumer default on the payment
                        instalments
“Cost of Credit”        The fee imposed by Rapid Loans in providing the credit
“Consumer”              Means the business, business entity, person or people who receive the funds
                        from Rapid Loans, as the funds provider
“Default Fees and       Means those fees and charges that arise when the Consumer has defaulted
 Charges”               by not providing payment due on time, as prescribed in the Promissory Note
                        or Loan Contract
“Direct Debit           Means the form authorising Rapid Loans to debit funds from the Borrower’s
 Request”               account under the terms of the Direct Debit Request Service Agreement
“Draw Down”             Means the day or date that the funds are provided to the Consumer
“Collections Agent”     Means the collection agent that Rapid Loans may appoint to recover the
                        funds should the Consumer be in default in the performance of their
                        obligations under the Promissory Note, Loan Contract or Bill of Sale
“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.
“Payment                Means funds paid by the Consumer, or debited directly from the
 (Instalments)”         Consumer’s bank account, on prescribed dates, to discharge the Consumer’s
                        financial obligations under the Promissory Note or Loan Contract
“Rapid Loans”           Means Rapid Loans Pty Ltd (ACN: 103 660 546) as Trustee for the Rapid
                        Loans Unit Trust (ABN: 88 784 012 008), registered address 27 Miami Key,
                        Broadbeach Waters QLD 4218
“Insurance”             Means an insurance taken over the Asset, prescribed in the Bill of Sale and
                        Promissory Note or Loan Contract, as deemed suitable by Rapid Loans
“Interest”              Means interest charged on the outstanding amount/s associated with the
                        Promissory Note or Loan Contract, for the period following a default
“Mortgagor”             Means the Consumer providing security under a Bill of Sale
“Mortgagee”             Means Rapid Loans, being the recipient of the benefit of security under a
                        Bill of Sale
“Secured Property”      Being that property which is the subject of the Bill of Sale
                                          RAPID LOANS
                                 INFORMATION STATEMENT
                   THINGS YOU SHOULD KNOW ABOUT YOUR PROPOSED
           PROMISSORY NOTE DISCOUNT FACILITY or YOUR LOAN CONTRACT
This statement tells you about some of the rights and obligations of yourself and Rapid Loans, your
credit provider, who is committed to being fully compliant with the Bills of Exchange Act (in the
case of Promissory Notes), the National Credit Code and associated legislation and regulations. It
does not state the terms and conditions of either your promissory note or loan contract.
If you have any concerns about your promissory note or loan contract, contact Rapid Loans and, if
you still have concerns, contact the Australian Securities and Investment Commission (ASIC), or
Rapid Loans’ External Dispute Resolution scheme, COSL or get legal advice.


THE PROMISSORY NOTE / LOAN CONTRACT
1.   How can I get details of my proposed promissory note or loan contract?
Rapid Loans will give you a Financial Summary Table and a document that contains information
concerning your promissory note or loan contract. These documents will be given to you before
you enter into a promissory note arrangement or a loan contract.
2.   How can I get a copy of the final documentation?
Once the promissory note or loan contract is signed by you and given to the Rapid Loans’
representative, the representative will immediately give you a copy of that promissory note or loan
contract to keep, along with the other documentation.
If you want another copy of any of these documents, you may write to Rapid Loans and ask for
them. On receipt of your written request, Rapid Loans will provide you with a copy within fourteen
(14) days, but they may charge you a fee for this service.
3.   Can I terminate the promissory note or loan contract?
Yes, provided you have not accepted funds from Rapid Loans in exchange for the promissory note
or loan contract.
4.   Can I pay my promissory note or loan contract out early?
Yes but for promissory notes such payment will be as indicated on the face of the promissory note,
without any deduction other than payments already made, in accordance with the Bills of Exchange
Act.
5.   How can I find out the pay out figure?
You can write to Rapid Loans at any time and ask for a statement indicating your current financial
liability. This must be given to you within seven (7) days of your making this request. You may be
charged a fee for the statement.
6.   Will I pay a lesser discount amount if I honour my promissory note or early?
No. Under the Bills of Exchange Act, the amount to be paid at any relevant time is the face value
of the promissory note, less the payments already made.
7.   Can my promissory note or loan contract be changed after I sign it?
You cannot change your promissory note or loan contract and your promissory note or loan contract
will not be changed by Rapid Loans. However, a second promissory note or loan contract may be
issued in acknowledgement of Clause 14 below.
8.   Is there anything I can do if I think that my promissory note or loan contract is unjust?
Yes. You should first talk to Rapid Loans. Discuss the matter and see if you can come to some
arrangement. If that is not successful, you may contact Rapid Loans’ External Dispute Resolution
scheme. The services of the External Dispute Resolution scheme are free and are provided so that
you have an independent mechanism to resolve specific complaints. Rapid Loans’ External Dispute
Resolution scheme is COSL. COSL can be contacted by phone on 02 9273 8400, by post to PO Box
A252, Sydney South, NSW 1235, or go to their website at www.cosl.com.au. Alternatively, you
can go to court. You may wish to get legal advice from an organisation such as your community
Legal Aid Centre, or the Consumer Credit Legal Centre.




Consumer Booklet v1.7                                                                   Page 2 of 19
9.   Do I have to take out insurance?
Rapid Loans can legally ask you to take out, or pay the cost of, compulsory third party personal
injury insurance, mortgage indemnity insurance, or insurance over property covered by any
mortgage, when property has been accepted as security for your promissory note or loan contract.
If Rapid Loans does not request it, you may still decide to do so. Rapid Loans does not request any
credit/loan insurance.
10. What if I am unsure of my ability to honour the promissory note or loan contract?
Tell the Rapid Loans representative. Rapid Loans requires all intending Consumers to inform their
representative, before drawing any promissory note or loan contract if there is, to that Consumer’s
knowledge, any reasonable expectation or possibility that the Consumer will not be able to honour
the promissory note or loan contract, in accordance with its detail, or that such honouring could not
be made without substantial hardship.
11. What do I do if I cannot honour my promissory note or loan contract?
If you have been unemployed, sick, or there is another acceptable reason why you are having
problems with your obligations under your promissory note or loan contract, then a second
promissory note or loan contract, replacing the first and with changed obligations, may be accepted
by Rapid Loans to meet your situation.
Get in touch with Rapid Loans immediately. Discuss the matter and see if you can come to a
mutually agreeable arrangement. You can ask Rapid Loans to consider accepting a second, or
substitute, promissory note or loan contract which, for example, may offer:
•    a longer period before the promissory note is to be presented or loan paid out; and/or
•    reduced periodic instalment payments; and/or
•    a deferment of some portion of your existing instalment payment obligations.
You will be expected to honour these new arrangements.
12. What if Rapid Loans and I cannot agree on a suitable arrangement?
You may be able to apply to the applicable court or tribunal. Contact ASIC, or get legal advice on
how to go about this. There are also other people, such as financial counsellors, who may be able
to help.
13. Can Rapid Loans take action against me?
Yes, if you fail to honour your promissory note or loan contract. However, the law says that you
cannot be unduly harassed or threatened for payment (instalments and/or the whole). If you think
you are being unduly harassed or threatened, contact ASIC or get legal advice.
Concerning Rapid Loans’ right to take action in the event your promissory note or loan contract
fails to be honoured, Rapid Loans adopts the following general policy, which we reserve the right to
implement, in part or in whole, at our sole discretion:
•    Rapid Loans personnel will attempt to contact the consumer/s by telephone, email, fax and/or
     SMS, shortly after the default or breach has occurred;
•    Rapid Loans reserves the right to re-direct debit the Consumer’s account, on the date the
     Consumer’s next pay is deposited. Such redirection to be attempted for a period of up to 90
     days after the default. This is legally permitted under the promissory note arrangement or the
     loan contract and the consumer receives written detail of the redirection.
•    Rapid Loans will send a Form 11 and, thereafter, a Form 12, together with a standard default
     notice, by post.
In the event that the Consumer has not remedied the default within 30 days, as specified by the
standard Default Notice, Rapid Loans will begin enforcement action including, but not limited to,
the engagement of the services of a mercantile agent to effect collection and/or solicitors to
commence legal proceedings in the relevant court or tribunal.
In such circumstances, Rapid Loans will seek an order for full indemnity for all costs, fees and
charges incurred, plus interest associated with securing payment.
14. Asking questions
If you have any questions, please do not hesitate to ask your Rapid Loans’ representative, prior to
you signing your promissory note or loan contract.




Consumer Booklet v1.7                                                                     Page 3 of 19
15. Changes to Repeat Consumer Information
Rapid Loans requires all repeat Consumers to inform its representative before signing any
promissory note or loan contract, if there has been any change in their personal information
previously supplied by the Consumer, such as contact, employment and/or income details.
16. Are my promissory note funds or loan contract funds contingent on using any other Rapid
    Loans’ service?
No.
17. Do I have any other rights and obligations?
Yes. The law will give you other rights and obligations. You should also READ YOUR
DOCUMENTATION CAREFULLY.


IF YOU HAVE ANY COMPLAINTS ABOUT YOUR PROMISSORY NOTE ARRANGEMENT
OR YOUR LOAN CONTRACT, OR WANT MORE INFORMATION, CONTACT RAPID
LOANS. YOU MUST ATTEMPT TO RESOLVE YOUR COMPLAINT WITH RAPID LOANS
FIRST. IF YOU HAVE A COMPLAINT WHICH REMAINS UNRESOLVED AFTER
SPEAKING TO RAPID LOANS, YOU CAN CONTACT RAPID LOANS’ 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.
RAPID LOANS’ EXTERNAL DISPUTE RESOLUTION SCHEME IS INCLUDED ABOVE.
PLEASE KEEP THIS INFORMATION STATEMENT, AS YOU MAY WANT SOME
INFORMATION FROM IT AT A LATER DATE.




                        CREDIT PROVIDER’S CREDIT GUIDE
As an intending borrower, we provide you with the following Credit Guide, which must be provided to you in
writing, in accordance with Section 126 of the National Consumer Credit Protection Act 2009.

Licensee’s name, contact details and Australian Credit Licence Number (being a credit provider):
Rapid Loans Pty Ltd ATF Rapid Loans Unit Trust, 27 Miami Key Broadbeach Waters QLD 4218. Australian
Credit Licence Number: 388847.

Internal Dispute Resolution Contact Details:
 IDR Manager, PO Box 1858 Broadbeach QLD 4218; Ph: 1300 727 431; Email: IDR@rapidloans.com.au

External Dispute Resolution (EDR) Contact Details:
Credit Ombudsman Service Limited (COSL), Ph: 02 9273-8400; Web: www.cosl.com.au.
A copy of our preliminary assessment of your loan application is available for you on your request (in
accordance with Section 132, National Consumer Credit Protection Act 2009). Recommendation of contract
unsuitability details:
    Under Sections 128 and 129 of the National Consumer Credit Protection Act 2009, we are obliged to assess
    if the credit contract you seek is unsuitable.
    Under Section 131, we are obliged to advise you that we will not participate in the arrangement of a loan
    for you, if that loan would be unsuitable, “unsuitability” being assessed on the following:
    a) Whether or not you will be able to comply with the financial obligations under the contract, without
         substantial hardship, if at all;
    b) Whether or not the contract will meet your requirements and objectives;
    c) Whether or not the contract meets requirements imposed by regulation, from time to time;
    d) It involves us, as a credit provider, making enquiry about your financial circumstances;
    e) According to whether or not we believe the information to be true.

We hope this information is of assistance and thank you for your enquiry.




Consumer Booklet v1.7                                                                          Page 4 of 19
     Further Questions and Answers Concerning Your Proposed Promissory Note
                         Discount Facility or Loan Contract
1. What is a Promissory Note Discount Facility?
   A Promissory Note Discount Facility is a form of legally binding promise, whereby the
   consumer promises to pay certain amounts of money by instalments, on fixed dates in the future
   and, in return, is provided with a lesser amount of money now, recognising the fact that money
   is a tradable commodity. The difference between what the consumer promises to pay and the
   amount the consumer receives, is the discount charge that includes the business and financial
   cost of providing the funds, plus a service fee. When you borrow funds from Rapid Loans your
   contract will either be a Promissory Note Discount Facility or a Loan Contract, which is also a
   legally binding document.
2. How can I get details concerning a Promissory Note Discount Facility or Loan Contract?
   Rapid Loans will provide you with a Promissory Note contract or Loan Contract, and this
   booklet, which provides comprehensive details but is not designed to replace, or discourage, the
   obtaining of professional advice.
3. What will it cost me?
   The discount facility amount or charge, or the loan contract amount and payments, will be
   clearly specified by a member of the Rapid Loans’ staff.
4. What is the term of the Promissory Note or Loan Contract?
   The term will be mutually agreed on and clearly stated on your Promissory Note or Loan
   Contract, as will the details concerning payment.
5. When will I have to make the instalment payments?
   If you agree to pay for your Promissory Note or Loan Contract by instalments, the times for
   payment and the amount of the payments that you will have to make, are set out in the
   Promissory Note or Loan Contract.
6. How can I get details of what my proposed Promissory Note or Loan Contract entails?
   Prior to you signing the Promissory Note or Loan Contract, you will have been provided with a
   copy of the Promissory Note or Loan Contract to read. This contains detailed information
   associated with the Promissory Note or Loan Contract. A Rapid Loans’ representative will also
   offer explanation, when discussing the Promissory Note Discount Facility or Loan Contract
   with you and will be pleased to answer any question you might have.
7. Method of calculation of interest rate - Promissory Note period or Loan Contract period.
   You are not charged interest.
8. What will I be charged if I am in default?
   A Rapid Loans representative will explain, in detail, the financial costs and penalties associated
   with default and these will be specified in the Promissory Note or Loan Contract.
9. If I am not sure of any aspect, should I obtain independent legal and financial advice
   before signing any document associated with this Promissory Note or Loan Contract?
   Yes.




Consumer Booklet v1.7                                                                   Page 5 of 19
                         QUESTIONS AND ANSWERS
             CONCERNING YOUR BILL OF SALE IN ASSOCIATION WITH
     YOUR PROPOSED PROMISSORY NOTE DISCOUNT FACILITY or LOAN CONTRACT

1.   If my Promissory Note Discount Facility or Loan Contract requires the additional security
     of a Bill of Sale, what does this mean?
      A Bill of Sale, or mortgage, means that you give Rapid Loans certain rights over any property
      you mortgage. If you default under your Promissory Note or Loan Contract, Rapid Loans, as
      the funds provider, can exercise the Bill of Sale and can sell the mortgaged property. The
      proceeds of the sale, less the associated costs and less the amount you still owe under the
      Promissory Note or Loan Contract, might not be enough to cover the total debt and you may
      still owe money to Rapid Loans.
2.   Should I get a copy of my Bill of Sale?
      Yes. Rapid Loans will provide a copy in your Consumer folder. If you lose this copy, Rapid
      Loans will provide you with another, on receipt of your request in writing.
3.   Is there anything that I am not allowed to do with the property I have mortgaged?
      The law says, and the Bill of Sale also notes, that you cannot assign (give to someone else), or
      dispose of the property (sell or destroy) unless you have the funds provider's, or the court's,
      permission. You must also look after the property. Read the Bill of Sale document carefully,
      because it specifies the other terms and conditions about what you can or cannot do with the
      property.
4.   What can I do if I find that I cannot afford my repayments as prescribed in the
     Promissory Note or Loan Contract, and there is a Bill of Sale over property?
      First, get in touch with Rapid Loans to discuss the matter and see if you can come to some
      arrangement, which may include:
         a) the issuing of a new Promissory Note or Loan Contract;
         b) if the property involved is goods, give the property back to Rapid Loans, together with a
            letter saying you want Rapid Loans to sell the property for you;
         c) sell the property yourself, but only if you get written permission from Rapid Loans first;
         d) give the property to someone else, but only on the proviso that they negotiate with Rapid
            Loans, to take over responsibility for the payments under the Promissory Note or Loan
            Contract and Bill of Sale;
         e) if you have a guarantor, talk to the guarantor, who may be able to help you.
      If you cannot reach agreement with Rapid Loans, then you should seek professional legal
      advice.
      You should understand that you may owe money to Rapid Loans, even after the mortgaged
      property is sold.
5.   Can Rapid Loans, as the funds provider, take or sell the mortgaged property?
      Yes, if you have not carried out all of your obligations under your contract.
6.   If Rapid Loans writes asking me where the mortgaged goods are, do I have to say where
     they are?
      Yes. You have 7 days after receiving Rapid Loans' request to tell them. If you do not have the
      goods you must give Rapid Loans all the information you have so they can be traced.
7.   When can Rapid Loans or its agent come into a residence to take possession of mortgaged
     goods?
      Rapid Loans can only do so if it has the court's approval or the written consent of the occupier.




Consumer Booklet v1.7                                                                      Page 6 of 19
          This document is referred to in the Consumer’s Direct Debit Request

                  Direct Debit Request – Service Agreement (DDR-SA)
This agreement is made between Rapid Loans Pty Limited and the Consumer described on the
associated Direct Debit Request
Definitions          Account means the account held at your financial institution from which Rapid Loans
applicable to this   are authorised to arrange for funds to be debited.
Agreement:           Business day means a day other than a Sunday or a public holiday.
                     Debit day means the day that payment by you to Rapid Loans is due, in accordance
                     with the Promissory Note or Loan Contract.
                     Debit payment means a particular transaction where a debit is made.
                     Direct debit request means the Direct Debit Request between Rapid Loans and you.
                     Rapid Loans means Rapid Loans Pty Limited, the Debit User you have authorised, by
                     signing a direct debit request.
                     You means the Consumer who signed the direct debit request.
                     Your financial institution is the financial institution where you hold the account from
                     which you have authorised Rapid Loans to debit periodic payments.


          Information and Instructions to be Agreed to by the Consumer:
1. Debiting your        1.1   By signing a direct debit request, you have authorised Rapid Loans to arrange for
   account:                   funds to be debited from your account. You should refer to the direct debit
                              request and this agreement for the terms of the arrangements between Rapid
                              Loans and you.
                        1.2   Rapid Loans will only arrange for funds to be debited from your account as
                              authorised in the direct debit request, plus any fees and charges associated with a
                              default, in accordance with the Promissory Note or Loan Contract.
                        1.3   If the debit day falls on a day that is not a business day, Rapid Loans may direct
                              your financial institution to debit your account on the following business day.
                        1.4   Debit payments will be made when due. Rapid Loans will not issue individual
                              confirmation of payments made.
                        1.5   If you are unsure about which day your account has or will be debited you should
                              ask your financial institution.
2. Changes by           2.1   You may cancel your authority for Rapid Loans to debit your account, or change
   you:                       the arrangements under a direct debit request only with the agreement of Rapid
                              Loans, by contacting them at least seven (7) days before the next debit day.
                        2.2   If you wish to stop or defer a debit payment, you must notify Rapid Loans in
                              writing at least three (3) days before the next debit day.
3. Your                 3.1   It is your responsibility to ensure that there are sufficient clear funds available in
   obligations:               your account to allow a debit payment to be made, in accordance with the direct
                              debit request.
                        3.2   If there are insufficient clear funds in your account to meet a debit payment:
                              (a) you may be charged a fee and/or interest by your financial institution;
                              (b) you will also incur fees or charges imposed or incurred by Rapid Loans;
                              (c) you must arrange for the debit payment to be made by another method or
                                  arrange for sufficient clear funds to be in your account by an agreed time, so
                                  that Rapid Loans can process the debit payment; and
                              (d) You should check your account statement to verify that the amounts debited
                                 from your account are correct.
                        3.3   you should be aware that Rapid Loans reserves the right, in the event of default,
                              to re-schedule such direct debit payment, together with any default fees and
                              charges, to another date and for a period of up to 365 days after the default.
                        3.4   You should be aware that, should you default on any of your repayments and
                              make no genuine attempt to correct such default, Rapid Loans reserves the right
                              to recover all money owed, by way of prosecution, utilising the services of
                              solicitors and/or debt collection agencies, commencing 7 days after such default.


Consumer Booklet v1.7                                                                                 Page 7 of 19
                        3.5   You must ensure that the authorisation given is consistent with any account
                              signing authority that applies to the nominated account.
                        3.6   Rapid Loans must approve an alternate payment arrangement, at least seven (7)
                              days prior to you transferring or closing the nominated account.
                        3.7   Rapid Loans may negotiate the purchase of the Promissory Note or Loan
                              Contract by another funds provider. You shall be required to approve the
                              subsequent necessary change to the direct debit facility, prior to the next debit
                              day.
4. If there is a        4.1   If you believe that there has been an error in debiting your account, you should
   dispute:                   notify Rapid Loans directly on 1300 727 431 and confirm that notice with Rapid
                              Loans, in writing, as soon as possible so that Rapid Loans can resolve your query
                              quickly.
                        4.2   If Rapid Loans conclude, as a result of investigation, that your account has been
                              incorrectly debited, Rapid Loans will respond to your query by arranging for
                              your financial institution to adjust your account (including interest and charges)
                              accordingly.
                        4.3   If Rapid Loans conclude, as a result of investigation, that your account has not
                              been incorrectly debited, Rapid Loans will respond to your query by providing
                              you with reasons and any evidence for this finding.
                        4.4   Any queries you may have about an error made in debiting your account should
                              be directed to Rapid Loans in the first instance, so that Rapid Loans can attempt
                              to resolve the matter between Rapid Loans and you. If Rapid Loans cannot
                              resolve the matter, you can still refer it to your financial institution, which will
                              obtain details from you of the disputed transaction and may lodge a claim on
                              your behalf.
5. Your account:        5.1   You should check:
                              (a) with your financial institution whether direct debiting is available from your
                                 account, as direct debiting is not available on all accounts offered by
                                 financial institution;
                              (b) your account details which you have provided Rapid Loans are correct, by
                                 checking them against a recent account statement; and
                              (c) with your financial institution before completing the direct debit request if
                                 you have any queries concerning the direct debit process.
6. Confidentiality:     6.1   Rapid Loans will keep any information (including your account details), in your
                              direct debit request, confidential. Rapid Loans will make reasonable efforts to
                              keep any such information that Rapid Loans have about you secure and to ensure
                              that any of our employees or agents who have access to information about you,
                              do not make any unauthorised use, modification, reproduction or disclosure of
                              that information.
                        6.2   Note, for further explanation concerning confidentiality between you and Rapid
                              Loans, please refer to the separate Privacy Protection of Information Statement
                              and Declaration provided to you.




Consumer Booklet v1.7                                                                                Page 8 of 19
7. Notice:              7.1   If you wish to notify Rapid Loans in writing about anything relating to this
                              agreement, you should write to Rapid Loans Consumer Service, PO Box 1858,
                              Broadbeach, Qld 4218.
                        7.2   Rapid Loans will notify you by sending a notice, in the ordinary post, to the
                              address you have given Rapid Loans in the direct debit request.
                        7.3   Any notice shall be deemed to have been received, by the Consumer, on the date
                              when it would have been delivered in the ordinary course of Australia Post
                              services.
8. What is              •     That the Consumer has read this document carefully
expected of the
Consumer                •     That the Consumer has understood the contents of this document
                        •     That the Consumer has contacted Rapid Loans and been provided with a
                              satisfactory answer to any and all questions concerning this document
                        •     The Consumer will abide by the provisions of this document as they have
                              indicated that they will do, by signing and agreeing to the Direct Debit Request,
                              which specifically refers to this document.




Consumer Booklet v1.7                                                                              Page 9 of 19
                                       BILL OF SALE
                                STANDARD CONTRACT TERMS
THIS BILL OF SALE has been created on the date specified in the Bill of Sale Extract and is in
association with the Mortgagor’s Promissory Note or Loan Contract.
By The Mortgagor (being the consumer/s and owner/s of the nominated secured property as
specified in the Bill of Sale Extract, and relating to either the Promissory Note number or the Loan
Contract number as specified in the Bill of Sale Extract).
and to the benefit of The Mortgagee, being Rapid Loans Pty Ltd (ACN: 103 660 546) as Trustee
for the Rapid Loans Unit Trust (ABN: 88 784 012 008),


THE MORTGAGOR AND MORTGAGEE HEREBY AGREE AS FOLLOWS:
1. Provision of Funds and Security
    The Mortgagee hereby agrees to provide to the Mortgagor the funds detailed in either the
    Promissory Note or Loan Contract as specified in the Bill of Sale Extract and the associated
    Promissory Note or Loan Contract, on the terms contained in those documents. The Mortgagor
    executes this Bill of Sale over the Secured Property, as detailed below, and in the Promissory
    Note Contract or Loan Contract, as security for payment of the funds provided by the
    Mortgagee.
2. Details of Secured Property
    As specified in the Bill of Sale Extract, contained in either the Promissory Note Contract or
    Loan Agreement. Such listed property not being essential household property, in accordance
    with Section 116(2)(b)(i) of the Bankruptcy Act 1966.
3. Transfer of Secured Property
    The Mortgagor hereby transfers and assigns in favour of the Mortgagee the Secured Property
    PROVIDED THAT upon payment by the Mortgagor to the Mortgagee of the funds secured and
    provided the Mortgagor shall not otherwise be in default hereunder, the Mortgagee will
    re-assign to the Mortgagor the Secured Property.
4. Payment
    The Mortgagor will pay to the Mortgagee the funds secured, as provided in the Promissory Note
    or Loan Contract (as specified in the Bill of Sale Extract) and the associated Promissory Note
    Contract of this date.
5. Implied Powers
    The Mortgagee reserves the right to exercise any powers prescribed in the relevant statute
    and/or regulation, as may be in force from time to time.
6. Obligations of Mortgagor
    The Mortgagor shall, where applicable:
    6.1   pay punctually and when due all licences, duties, fees, charges, taxes and outgoings
          (including all registration fees, if any) at any time levied or payable in respect of the
          Secured Property and at all times indemnify and keep indemnified the Mortgagee against
          the payment of such moneys and against all claims and demands in respect thereof;
    6.2   at all times keep the Secured Property and every part thereof in good and substantial
          repair and condition and, by restoration and/or replacement, keep up the same both as to
          quantity and value and manage the same in a careful manner. The Mortgagor shall not
          have, or be deemed to have, any authority to pledge the Mortgagee's credit for any repairs
          to the Secured Property, or create any lien thereof in respect of such repairs, or otherwise;
    6.3   notify the Mortgagee within five (5) working days following the Secured Property being
          damaged in any way;
    6.4   ensure that any numberplate, nameplate, words, markings or numbers on the Secured
          Property are not altered, defaced and/or concealed in any manner whatsoever;
    6.5   use the Secured Property in a lawful manner only and so as to comply with all statutory or
          other legal requirements relating thereto;
    6.6   comply with and observe all statutes and all regulations, ordinances and by-laws made
          hereunder, from time to time, and all requirements and orders of any authority, statutory
          or otherwise, in all cases in which the non-compliance therewith, or non-observance
          thereof, would or might impose some charge or liability, or disability, upon the Secured


Consumer Booklet v1.7                                                                    Page 10 of 19
         Property or the Mortgagor, or prejudicially affect this Bill of Sale or the Mortgagee's
         powers hereunder;
   6.7   comprehensively insure and keep insured, at replacement value, the Secured Property
         (and/or other conditions as the Mortgagee may reasonably require) with an insurer
         approved by the Mortgagee, in the joint names of the Mortgagor and the Mortgagee for
         their respective rights and interests;
   6.8   upon the Mortgagee's demand produce any insurance policy over the Secured Property
         and any evidence of renewal of same, which policy or policies may be retained by the
         Mortgagee; and
   6.9   not attempt to sell, dispose of, abandon, transfer, rent, gift, assign or otherwise part with
         possession of the Secured Property, without the Mortgagee's consent (which may be
         granted or refused at its absolute discretion).
7. Insurance Claims
   7.1   The Mortgagor will promptly notify the Mortgagee in writing of any act, omission,
         accident, damage, loss, occurrence or matter which gives, or may give, rise to a right to
         claim under such insurance and the Mortgagor shall not do, omit or suffer to be done any
         act or matter that may contravene any term of such policy.
   7.2   The Mortgagor hereby irrevocably authorises and agrees that the Mortgagee alone shall
         have power to make, enforce, settle and compromise and receive all claims, and the
         benefits thereof, in respect of insurance and to sue for, recover, receive and give
         discharges for all insurance moneys without any responsibility for any loss occasioned
         thereby. Any such insurance moneys received shall be applied at the option of the
         Mortgagee either in or towards repayment of the Money Secured, or in or towards
         reinstating or rebuilding the Secured Property damaged or destroyed. If at any time the
         Mortgagor is entitled to the benefit of any insurance in respect of the Secured Property,
         that has been effected in addition to the Mortgagor's obligations under this Bill of Sale,
         then all moneys received by virtue of such insurance shall, if the Mortgagee so requires,
         be applied as if such insurance had been effected in accordance with this Bill of Sale.
8. Mortgagor to Have Use and Enjoyment
   The Mortgagor shall have the use and enjoyment of the Secured Property without any
   hindrance or disturbance by the Mortgagee, unless the Mortgagor is in default as prescribed in
   the Promissory Note, or Loan Contract, or in this Bill of Sale.
9. Registration of this Bill of Sale
   The Mortgagee reserves the right to register this Bill of Sale and/or the associated encumbrance
   with a register, if any, with the reasonable costs of such registration, if any, being paid by the
   Mortgagor.
10. Registration of Caveat
   The Mortgagee reserves the right to register a caveat over the property, the subject of this Bill
   of Sale, with the reasonable costs of such registration being paid by the Mortgagor.
11. Default
   The Mortgagor shall, at the option of the Mortgagee, be immediately in default, without the
   necessity for any notice or demand, upon the occurrence of any of the following:
   11.1 the Mortgagor fails or neglects to pay on the due date for payment, any part or the whole
        of the Funds Secured, at the times and in the manner as prescribed in the Promissory
        Note, or Loan Contract, or this Bill of Sale;
   11.2 the Mortgagor fails or neglects to observe or perform any of the covenants, conditions or
        agreements contained in the Promissory Note, or Loan Contract Contract, or this Bill of
        Sale;
   11.3 where the Mortgagor is an individual, the Mortgagor;
         a)   becomes of unsound mind or a person who is liable to be dealt with in any way under
              the law relating to mental health;
         b)   commits an act of bankruptcy or assigns his/her estate for the benefit of creditors;
         c)   is presented with a petition for bankruptcy or sequestration of his/her respective
              estates;
         d)   convenes a meeting, or proposes, to enter into any arrangement or composition for
              the benefit of his/her creditors;



Consumer Booklet v1.7                                                                    Page 11 of 19
         e)   has a receiver, receiver and manager or trustee in bankruptcy appointed over any of
              his/her property;
         f)   dies or becomes incapable of managing his/her own affairs; or
         g)   becomes bankrupt or enters into a composition, assignment or arrangement with
              creditors;
   11.4 where the Mortgagor is a company if:
         a)   an administrator, controller or an inspector of that company is appointed;
         b)   if an application or petition is presented for, any order shall be made or any effective
              resolution shall be passed for the winding up or dissolution of that company;
         c)   an application shall be made to the Court under the Corporations Law; or
         d)   any arrangement or compromise shall be approved under the Corporations Law;
         AND a determination by the Mortgagee that any of these events has occurred shall be
         final and binding on the Mortgagor. The Mortgagor shall promptly inform the Mortgagee,
         in writing, upon the happening of any of the events described in this clause.
12. Rights Upon Default
   12.1 If an event of default is made, or is deemed to have been made, under the Promissory
        Note, or Loan Contract or this Bill of Sale, by the Mortgagor, the Mortgagee may, at its
        discretion, but subject to and in accordance with the provisions of the relevant statutes
        and regulations in force at the relevant time, but without otherwise limiting the rights
        accruing to the Mortgagee by operation of law or pursuant to statute:
         a)   demand and require immediate repayment of the whole of the Funds Secured and
              recover same from the Mortgagor notwithstanding that the date for repayment thereof
              may not have arrived;
         b)   forthwith exercise all or any of the rights, powers and remedies granted to a
              Mortgagee under the relevant statutes and regulations and at law as if those rights,
              powers and remedies were set out in full in this Bill of Sale, and may sell the Secured
              Property on such terms and conditions as the Mortgagee shall think fit;
         c)   perform any one or more of the Mortgagor's obligations under this Bill of Sale, at the
              Mortgagor's cost;
         d)   take possession of the Secured Property and either remove and carry away the
              Secured Property, or allow the same to remain where it has been found, at the
              Mortgagee's discretion;
         e)   for the purpose of exercising any of the Mortgagee's rights in d. above, the
              Mortgagee or the Mortgagee's Representative shall seek permission, in writing, of
              either the Mortgagor, or the owner of the premises on which the Secured Property is
              located, to enter and remain upon such premises, to facilitate the inspection or
              removal of the Secured Property;
         f)   apply for a Court Order to facilitate entry to the premises for the purposes of
              inspecting or taking possession of the Secured Property;
         g)   apply for a Court Order instructing the Mortgagor, or any other person who has
              possession of the Secured Property, to deliver such property to the Mortgagee at a
              specified location and time;
   12.2 In accordance with Sections 85(3) and 102 of the National Credit Code, the Mortgagee
        will, within fourteen (14) days, issue a notice to the Mortgagor, as prescribed by
        Regulations 84 and 88 of the National Consumer Credit Protection Regulations 2010,
        containing the following matters:
         a)   the estimated value of the Secured Property;
         b)   the enforcement expenses incurred up to the date on which the goods were taken into
              the Mortgagee’s possession;
         c)   if enforcement expenses are accruing while the goods remain in the possession of the
              Mortgagee, the rate of accrual;
         d)   a list of the Mortgagor’s rights and obligations.
   12.3 The Mortgagee will not dispose of the Secured Property, taken under this Bill of Sale,
        within twenty-one (21) days after the date of the Notice, unless the Court authorises the
        Mortgagee to do so.



Consumer Booklet v1.7                                                                   Page 12 of 19
   12.4 The Mortgagee will return the Secured Property during the twenty-one (21) day holding
        period, if the amount in arrears, plus reasonable enforcement expenses, are paid, and
        providing the Mortgagor has not committed any further defaults of the same kind under
        the related Promissory Note or related Loan Contract is paid out in full.
   12.5 The Mortgagor may, within the twenty-one (21) days after the date of Notice nominate, in
        writing, a person who is prepared to purchase the Secured Property from the Mortgagee at
        the estimated value, or at any greater amount for which the Mortgagee has obtained a
        written offer to buy the Secured Property.
   12.6 If payment is not made within the twenty-one (21) days after the date of Notice, the
        Mortgagee must sell the Secured Property as soon as reasonably practicable. If there is
        no nominated buyer, or the nominated buyer does not buy the Secured Property, then the
        Mortgagee will dispose of the Secured Property through Public Auction.
   12.7 Where the Secured Property fails to attract a buyer at Public Auction and at least one
        further Public Auction, the Mortgagee shall sell the Secured Property privately, in a
        manner that may include eBay and/or advertisement in the Trading Post and/or one or
        more classified sections of major metropolitan newspapers. Such private sale price as
        may be accepted to reflect the current appropriate listing in the Glasses Red Book guide
        (motor vehicle) or similar such guide, if any, applicable to the Secured Property.
   12.8 The Mortgagee will provide a written Notice to the Mortgagor, stating the amount
        realised on the sale of the Secured Property, the net proceeds of the sale, the amount
        credited to the related Promissory Note or Loan Contract liability, including associated
        enforcement costs and, either the amount required to pay out the remainder of the
        Promissory Note or Loan Contract liability, if the sale did not fully recover the
        outstanding debt, or the amount due and payable to the Mortgagor, in the event that the
        sale realised an amount in excess of the outstanding debt. In the latter circumstance, such
        payment will be made within fourteen (14) days of the final calculation of the outstanding
        debt.
   12.9 The Mortgagee may exercise its rights under this clause notwithstanding any omission,
        neglect, delay, or waiver of the right to exercise such option and without liability for loss.
13. Application of Proceeds
   13.1 The Mortgagee may apply any moneys received by exercising its rights under this Bill of
        Sale, or for any other reason, in and towards full or partial payment of any outstanding
        Money Secured.
   13.2 After receipt of the Promissory Note or Loan Contract amount, fees and charges and when
        costs associated with the recovery have been met in their entirety, the Mortgagee shall
        apply any balance of funds from the sale of the Secured Property, according to the
        following:
         a)    the Mortgagee depositing the amount into an account in the name of the Mortgagor,
               being that account specified in the Direct Debit Request associated with the
               Promissory Note or Loan Contract;
         b)    by the Mortgagee paying it into the Court in which any recovery procedure has been
               undertaken.
14. Liability for Loss
   The Mortgagee shall not be answerable or accountable for any loss or deficiency arising in
   relation to:
   14.1 the exercise or attempted exercise, or in the execution or attempted execution, of any
        powers hereby conferred; or
   14.2 a failure to exercise or execute any powers hereby conferred,
   and shall not be liable for:
   14.3 any more funds than shall actually come into the Mortgagee’s hands; or
   14.4 the neglect, default or dishonesty of any manager, solicitor, officer, agent, accountant,
        auctioneer, workman, clerk, or servant employed by the Mortgagee to exercise their
        professional services.
15. Attorney
   15.1 The Mortgagor irrevocably appoints the Mortgagee (and each director, manager,
        secretary, attorney or agent, for the time being of the Mortgagee severally) the
        Mortgagor's true and lawful Attorney in the Mortgagor's name and/or on the Mortgagor's
        behalf (with power to appoint a substitute) to execute all documents and do all things as,

Consumer Booklet v1.7                                                                   Page 13 of 19
         in the opinion of the Mortgagee, are requisite or desirable for protecting and preserving
         the interest of the Mortgagee in the property, the subject of this Bill of Sale, or carrying
         out any rights, remedies or powers of the Mortgagee under the Promissory Note or Loan
         Contract, or this Bill of Sale, or conferred on the Mortgagee by a statutory instrument
         including instituting, proceeding with or defending any legal proceedings on behalf of the
         Mortgagor in connection herewith and to execute and appeal from any judgement.
   15.2 All powers, rights, remedies and authorities conferred upon the Mortgagee may be
        exercised for and on behalf of and in the name of the Mortgagee, from time to time, by
        any of its attorneys, solicitors, directors, secretaries, managers and/or other officers
        authorised by it, from time to time, so to act either generally, or in any particular case
        pursuant to the provisions of this Bill of Sale.
   15.3 This power of attorney is granted for valuable consideration (the receipt of which is
        hereby acknowledged by the Mortgagor) as and by way of security for the payment for the
        Funds Secured and is deemed irrevocable until the complete discharge of the payment and
        any other financial obligations associated with the Promissory Note or Loan Contract and
        subsequent default, if any.
16. Costs and Expenses
   The Mortgagor will, upon the Mortgagee's demand, pay to the Mortgagee, or as directed by the
   Mortgagee, all costs expenses and other amounts payable incurred or paid by the Mortgagee in
   respect of this Bill of Sale. These costs shall include:
   16.1 legal costs on a full indemnity or on a solicitor and own client basis, whichever is the
        greater;
   16.2 costs resulting from, or on account of, any default by the Mortgagor or any Event of
        Default;
   16.3 the cost of obtaining any advice reasonably required by the Mortgagee from time to time;

   16.4 the costs of the Mortgagee registering, or causing to be registered, this Bill of Sale (or a
        copy thereof), as required under statute or regulation;
   16.5 costs resulting from the exercise, or purported or attempted exercise, of any of the
        Mortgagee's rights or powers under this Bill of Sale; and
   16.6 any stamp duty or other duty or financial impost, including duties and taxes on receipts or
        payments, and any fines or penalties arising directly, or indirectly, in respect of the
        Promissory Note or Loans Contract, or this Bill of Sale, or any transaction contemplated
        thereby.
17. Governing Law
   This Bill of Sale shall be governed and interpreted in accordance with the laws of the relevant
   State, Territory in which the Secured Property is located and in accordance with any relevant
   law of the Commonwealth.
18. Assurances
   The Mortgagor will at the request of the Mortgagee, but at the cost of the Mortgagor and until
   this Bill of Sale shall be duly released, give and execute all such lawful assurances and actions
   to further, or more perfectly, assure the Secured Property to the Mortgagee, as the Mortgagee
   shall reasonably require.
19. Notices and Consents
   19.1 Any notice, consent or demand given in relation to this Bill of Sale shall be in writing, in
        order to be valid, and shall be deemed to have been duly served if it is:
         a)   sent by facsimile to the facsimile number specified in this document for the relevant
              party, or
         b)   posted by pre-paid post to the address specified in this document for the relevant
              party, and
         c)   shall be deemed to have been served:
              i.    in the case of the facsimile, on receipt of a transmission report confirming the
                    successful transmission, or
              ii.   in the case of posting, on the third day after posting.
   19.2 Any notice, consent or demand given by the Mortgagee may be given or made in writing,
        signed by an officer of, or solicitor for, the Mortgagee and such writing may, in addition
        to the methods of service contained in 18.1 above, be delivered personally to the

Consumer Booklet v1.7                                                                    Page 14 of 19
         Mortgagor, or left at or upon the usual or last known place of abode or business of the
         Mortgagor.
   19.3 The Mortgagor or the Mortgagee may from time to time, by notice in writing given in
        accordance with this Bill of Sale, nominate a new address and/or facsimile number for the
        purposes of this clause, and such new address or facsimile number shall apply from the
        date of service of such notice.
20. Document of Title
   While this Bill of Sale remains current the Mortgagee is entitled to custody of all documents of
   title (including any registration papers, if any, or a signed and attested copy thereof, or indicia
   of title) to the Secured Property, except for those held by the holder of a Notified Encumbrance.
21. Severability
   Should any provision of this Bill of Sale prove to be prohibited or unenforceable in any
   jurisdiction then, as to that jurisdiction, it shall be ineffective to the extent only of such
   prohibition or unenforceability, without invalidating the remaining provisions of this Bill of
   Sale, or affecting the validity or enforceability of such provision in any other jurisdiction.
22. No Set-Off
   22.1 All moneys payable under this Bill of Sale shall:
         a)   be paid by Direct Debit, in accordance with the Direct Debit Request Service
              Agreement, associated with the Promissory Note or Loan Contract signed on this
              date, or as the Mortgagee may determine from time to time; and
         b)   be paid free of any deduction or set off whatsoever.
   22.2 A receipt for any money paid under the security of the Mortgagee or by any manager,
        acting manager, solicitor, clerk or any other person acting on behalf of the Mortgagee,
        shall be a sufficient discharge of the obligation to pay such money and from seeing to the
        application of that money.
23. Documents by Electronic Communications
   If the provision of this document, inclusive of signatures, is by facsimile or email transmission,
   the Parties to this Deed shall accept such as the equivalent of an Australia Post or personal
   delivery and the faxed or emailed document shall be deemed the original version, in accordance
   with the Electronic Transactions Act 1999 and the Electronic Transactions Regulations 2000.

This twenty-three (23) clause document, concluding at clause 23 is assumed, by both
the Mortgagor and the Mortgagee, being the Consumer and Rapid Loans Pty Ltd
respectively, to be merged in its entirety within the one (1) page Extract of the Bill of
Sale, (contained in either your Promissory Note or Loan Contract) which explicitly
refers to this document and which is to be signed by both parties.




Consumer Booklet v1.7                                                                   Page 15 of 19
                                          RAPID LOANS
                      PRIVACY PROTECTION POLICY STATEMENT

Rapid Loans is committed to making every effort to conform with the provisions, and the most
Consumer favourable interpretation of those provisions, in the Commonwealth Privacy Act
1988, the Privacy Amendment (Private Sector) Act 2000 and the associated National Privacy
Principles and provides every Consumer with a detailed Privacy Statement.
The fair and confidential management of information Consumers provide to Rapid Loans in the
course of business dealings is guaranteed. If the Consumer does not provide such information,
Rapid Loans cannot adequately and responsibly assess a Consumer’s request.
Rapid Loans assures Consumers that all information, provided by them, in association with the
facilitation of Promissory Notes or Loan Contracts, shall be used by Rapid Loans only for the
primary purposes of:

•   Assessing whether to accept a Promissory Note or Loan Contract;
•   The administration associated with the Promissory Note or Loan Contract; and
•   In the event of a default, to facilitate collection of all outstanding money.
All Consumers seeking funds will be given a detailed Privacy Protection of Information
Statement and Declaration to read, before entering into any Promissory Note arrangement or
Loan Contract with Rapid Loans.
Rapid Loans adopts and endorses the National Privacy Principles:
1. We collect personal information only as is necessary for our business activities;
2. We do not use or disclose personal information for any purpose other than the primary purpose
   of collection of such information;
3. We do not seek, or keep information as to our Consumer’s political beliefs, religious
   persuasions, sexual activity and orientation and/or health;
4. We undertake all reasonable steps to ensure that the personal information collected, used or
   disclosed, is accurate, complete and up to date. Consumers are under an obligation to be
   truthful and correct and to inform Rapid Loans of any changes to information provided, which
   occur during the Promissory Note period or Loan Contract period;
5. We take reasonable steps to protect the personal information we hold from misuse, or loss, and
   from unauthorised access, modification or disclosure. We take reasonable steps to destroy, or
   permanently de-identify any personal information we no longer require;
6. Consumers have continuing access to personal information about them which is held by Rapid
   Loans. Incorrect or inaccurate information will always be corrected when we become aware
   that it is incorrect or inaccurate. On request, a Consumer will be provided with a copy of
   his/her/their documentation;
7. Rapid Loans does not adopt any identifier assigned by a Commonwealth Government agency;
8. Rapid Loans acquires all Consumer information by lawful and fair means and not in an
   unreasonably intrusive way;
9. Rapid Loans does not engage in speculative data collection;
10. Rapid Loans does not make its Consumer lists available to third parties;
11. Rapid Loans always prescribes exactly to whom any information may be provided and in what
    circumstances. Such being, usually, limited to Rapid Loans personnel for processing and
    administration purposes, and to authorised personnel working for credit reporting agencies and
    for appointed solicitors and/or debt collection agencies, in the event of a default.
12. Rapid Loans will always fully cooperate and provide information, concerning Consumers,
    where such is required by State or Commonwealth law.




Consumer Booklet v1.7                                                                  Page 16 of 19
                                          RAPID LOANS
                        PRIVACY - PROTECTION OF INFORMATION
                                  Statement and Declaration


The Commonwealth Privacy Act 1988, the Privacy Amendment (Private Sector) Act 2000 and the
Privacy Amendment Act 2004, with the associated National Privacy Principles, empower and
regulate Rapid Loans in its collection of information about you, both from you and from other
sources such as credit reporting agencies, your referees, real estate agents, your bankers, past or
present employers, any other business organisation that may have information relevant to your
application for funds and from any publicly available source of information. These Acts also
regulate the use of such information.
Please read carefully before signing any documentation.
Use of Information
Rapid Loans collects personal credit information only for the following purposes:

•   to assess any application for funds by you;
•   to assess your financial circumstances;
•   to help us process your application for funds in an efficient manner;
•   to avoid the chance you may default on your payment obligations;
•   to notify you of a default;
•   to notify other credit providers of a default;
•   to facilitate the collection of overdue payments; and
•   efficiently manage and administer all services we provide to you.
This information can include any information about your credit worthiness, credit standing, credit
history or credit capacity, that funds providers and credit reporting agencies are allowed to give to,
or receive from, each other under the Privacy Act 1988.
This information is accessed, only as required, by Rapid Loans employees, professional advisers,
contractors and other service providers, to facilitate the above purposes. Rapid Loans will not sell,
rent or trade your personal information.
We assume that any referral to third parties that you may give us, in order to obtain your personal
and other information, will have been with the agreement and knowledge of the third parties
involved and that you will have made them aware of the purposes and use of such information, prior
to our contacting them.
Information Disclosure to Credit Reporting Agencies
You are informed that, under Section 18(E)(1) and 8(c) of the Commonwealth Privacy Act 1988, a
funds provider may disclose your credit information to credit reporting agencies for the following
purposes:
•   To obtain a consumer credit report about you, and/or
•   To allow the credit reporting agency to create or maintain a credit information file containing
    information about you.
Information Disclosure to Other Organisations
Under Section 18N(1)(b) and 18N(1)(g), Privacy Act 1988, we may disclose your personal
information to:
• our external service providers and their agents that provide business services to us, on a
    confidential basis, only for the purpose of our business;
• Credit Ombudsman Service, to which a complaint relating to a particular service we provide to
    you, can be referred. Telephone 02 9273 8400, or info@cosl.com.au.
• any court or tribunal as may be required by law.

Information Disclosed
The information disclosed to the above is limited to (if applicable):
• Identity particulars - your name, sex, address (and previous two addresses), date of birth, name
    of employer and drivers’ licence number.
• Your application for funds - the fact that you have applied for funds and the amount.


Consumer Booklet v1.7                                                                    Page 17 of 19
•   The fact that Rapid Loans is a current provider of funds to you.
•   Payments which are overdue and for which debt collection has been instigated.
•   Advice that your payments are no longer overdue in respect of any default that has been listed.
•   Information that, in the opinion of Rapid Loans, you have committed a serious infringement
    (i.e. you have been fraudulent or shown an intention not to comply with your payment
    obligations).
•   Dishonoured cheques - cheques drawn by you for $100 or more, which have been dishonoured
    more than once.
•   Direct Debit transactions that have been dishonoured.
•   That funds provided to you, by Rapid Loans, have been paid or otherwise discharged.
Period to which this understanding applies.
• This information may be given before, during or after the term of the provision of funds.
Access to Commercial Credit Information under Section 18L(4) and 18K(1)(b), Privacy Act
1988
In order to assess an application for commercial funds, Rapid Loans will need to obtain a report
containing information about your commercial activities and/or commercial worthiness, from a
business which provides information about the commercial credit worthiness of people.

Information Disclosure in the Event of a Default of Your Payment Obligations
In the event of any default of the payment conditions entered into in association with Rapid Loans,
any information provided by you shall be made available to personnel employed by solicitors and/or
debt collection agencies authorised by Rapid Loans, in the process of recovery of funds advanced,
plus all associated fees and charges (if any) and all legal and administrative costs incurred,
following the default.

Concerns and Complaints
If you have any privacy issues, during the term of your Promissory Note or Loan Contract, please contact The
Privacy Director, Rapid Loans, PO Box 1858, Broadbeach, Qld 4218; telephone 1300 727 431; or email
privacy@rapidloans.com.au


DECLARATION BY CONSUMER

You, as the Consumer, must have read the above and noted and accepted the rights of Rapid Loans concerning
the collection and use of the Consumer’s personal and financial information before obtaining finance from
Rapid Loans. Furthermore, to acknowledge that you have actually read and understood the above, you will need
to sign a declaration entitled Consumer Financial Stability and Certificate of Acknowledgement Concerning the
Securing of Funds. By signing the declaration, you also acknowledge and accept that the collection of personal
and financial information is part of an application process only and Rapid Loans is not obliged to accept a
Promissory Note or Loan Contract from you.




Consumer Booklet v1.7                                                                          Page 18 of 19
                                                                      Comparison Rate Schedule
                                                                        National Credit Code
                                                                              Part 10




Credit Provider: Rapid Loans Pty Ltd. ACN 103 660 546



 Loan Amount         Term of Loan          Secured          Frequency of       Contract Rate         Comparison
                                                              Payments                                  Rate
 $      1,000.00        6 months              Yes               Weekly               NA                48.00%
 $      1,500.00       12 months              Yes               Weekly               NA                48.00%
 $      2,500.00         2 years              Yes               Weekly               NA                48.00%
 $      5,000.00         2years               Yes               Weekly               NA                48.00%
 $     10,000.00         2 years              Yes               Weekly               NA                48.00%


      Warning: This comparison rate is true only to the examples given and may not include all fees and
               charges. Different terms, fees or other loan amounts might result in different comparison rate.

                    Rapid Loans may not offer credit for all of the amounts or terms stated above.

                                                                                    Version Date:    1st July, 2010




                                               RAPID LOANS
                                  External Dispute Resolution (EDR)
                                              Contact Details


Credit Ombudsman’s Service Limited
PO Box A252
Sydney South
NSW 1235
Trading hours: 9:00am – 5:00pm Monday to Friday (AEDT)
Tel: 1800 138 422
Fax: (02) 9273 8440
Web: www.cosl.com.au/contact




Consumer Booklet v1.7                                                                                Page 19 of 19

								
To top