The person who signs (physically or by consequence) and/or submits the loan application, plus the entity applying for the loan(the Applicant) and all named guarantors (hereinafter collectively referred to as Signatory), must read and agree to be bound, by the terms and conditions contained in this document, prior to accessing and/or making use of this and/or our service.

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“This” and “Our” service means Thrifty Money’s Loan Application.

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Supply of Information and Documents

Each Signatory must use its best endeavours to promptly provide to Thrifty such information and documents which Thrifty may reasonably request from the it from time to time.​

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Thrifty is not liable for any loss or damage including consequential loss or damage, arising directly or indirectly from any delay in any Signatory providing to Thrifty any information or documents reasonably requested by Thrifty.

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Loan Offer

Signatory acknowledges that the loan application is not an offer or acceptance of credit under any legislation relating to the provision of credit;

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Approval

Applicant agrees that only Thrifty Money, at its sole discretion, can approve or decline the loan;

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Reliance on Information

Signatory acknowledges that Thrifty Money will rely on the information provided by credit reporting agencies and valuers when making its decision whether to approve the loan or not;

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Privacy Policy & Statement

Signatory confirm that it has read, understand and agree to Thrifty Money’s Privacy Policy & Statement and any other policy, terms & conditions as published on the Thrifty Money its website;

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Giving information to a Credit Reporting Agency

Signatory agrees that Thrifty Money have informed it that it might give certain personal information about it to a credit reporting agency or agencies.

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Access to Commercial Credit Information

Signatory agree that Thrifty Money may obtain information about it from a business or businesses who provide information about the commercial credit worthiness of businesses/persons for the purpose of assessing the application for credit.

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Access to Consumer Credit Information

Signatory agrees that Thrifty Money may obtain a consumer credit report or reports containing information about it from a credit reporting agency or agencies for the purpose of assessing Its application;​

Exchange of Credit Worthiness Information

Signatory agrees that Thrifty Money may exchange information with those credit providers named in this application or named in a consumer credit report issued by a credit reporting agency;

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Personal/Private Information

Signatory agree that, Thrifty may use the Its information to comply with legislative or regulatory requirements in any jurisdiction, to prevent fraud, crime or other activity that may cause harm in relation to its products or services and help them run their business;

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Signatory agrees that, Thrifty Money may disclose its personal information to other members of its credit assessment and management team, to anyone they engage to do something on its behalf, to lenders, to insurers, to the Applicant’s broker or any other person acting on the Applicant’s behalf, to other lending entities and/or to other organisations that assist them with their business.​

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Signatory agrees that, Thrifty Money may independently confirm the details of the information provided in the loan application;

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Consent Not Required

Signatory agrees that it is not necessary for it to provide consent for any or all acts or practices described herein.  However, it agrees that refusal to provide certain consents may prevent Thrifty from assessing the loan application.

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Commission

Applicant agrees that, any broker acting on the Applicant’s behalf in connection with its Loan Application, or any other person who introduced the Applicant to Thrifty Money, may be paid a market related commission when the application is approved and that the Applicant agrees to pay said commission upon demand from Thrifty without delay;

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Representations and Warrantees

Each Signatory represents and warrants to Thrifty, related parties/entities and its Affiliates, except as to matters disclosed by it in writing to Thrifty and so accepted by Thrifty, that:

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Status - other than in the case of a Applicant that is a natural person, it is a corporation limited by shares, registered (or taken to be registered) and validly existing under the laws of its jurisdiction of incorporation;

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Capacity - it acts in its own right and not as trustee or responsible entity of any trust, scheme or settlement, as partner of any partnership or agent or nominee for any other person or in any other capacity in entering into, and performing its obligations under, the Mandate Documents;

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Power, capacity and authority - it has the power, full legal capacity and necessary corporate authority to enter into, and exercise its rights and perform its obligations under, each Mandate Document to which it is expressed to be a party and the Applications contemplated by the Mandate Documents;

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Third party information - when and where it has provided information about third parties (parties other than the Applicant) that such revelations and use of information was provided with the full knowledge and unconditional consent of said parties and that said parties have read, understood and concur with Thrifty’s Privacy Statement;

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Mandate Documents - each Mandate Document to which it is expressed to be a party is (subject to equitable principles and laws generally and subject to applicable stamping and registration) or will be valid, binding and enforceable against it in accordance with its terms when entered into;

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Litigation - no litigation or administrative, arbitration, mediation, conciliation, Tax claim or other proceeding or action (including any action by a Government Agency), or series of proceedings and actions, is current or pending or, to its knowledge, is likely or threatened against it or any of its property;

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Solvency - it is solvent and there are no reasonable grounds to suspect that it is unable to pay its debts as and when they become due and payable;

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Material Adverse Effect - nothing has occurred that has had, or is likely to have, a Material Adverse Effect;

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Ownership of assets:​

• unless it is a trustee of a Trust, it is the sole legal and beneficial owner of all property secured by it under a Security and all assets included in its most recent Financial Statements; and​

• it has good title to all property and assets held by it or on its behalf​

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Secured property - all property secured by it under a Security:​

• has a market value that is the same or materially the same as that notified by the Applicant to Thrifty in any loan application; and​

• is free from all Security Interests;

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Information - any factual information provided to Thrifty by or on behalf of the Applicant, or any of its Affiliates, ("Information ") is true, complete and accurate in all material respects as at the date it is provided or as at the date (if any) at which it is stated;

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Misleading statements - nothing has occurred or been omitted, and no information has been given or withheld that results in the Information being untrue or misleading in any material respect;

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Financial projections - any financial projections contained in the Information have been prepared in good faith on the basis of recent historical information and on the basis of reasonable assumptions; and

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Documents complete - all documents which the Applicant provides to Thrifty are complete and are either the original documents or true copies of the original documents.

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The representations and warranties set out in this clause, are deemed to be made by the Applicant by reference to the facts and circumstances then existing commencing on the date of this agreement and continuing until the date the Loan Documents are signed.

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The Applicant must immediately notify Thrifty in writing if any representation or warranty set out in this clause is incorrect, misleading or have changed materially and agrees to supplement the Information promptly from time to time to ensure that such representation and warranty is correct when made.

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The Applicant acknowledges and confirms to Thrifty and its Affiliates that:​

• it is acting for its own account and that it has made its own independent decisions to complete and submit the Application and as to whether the Application is appropriate or proper for it based upon its own judgement and upon advice from such advisers as it has deemed necessary;

• it is not relying on any communication (written or oral) from any or all of Thrifty and its Affiliates as finance advice or as a recommendation to complete and submit the Application, it being understood that information and explanations related to the terms and conditions of the Application shall not be considered finance advice nor a recommendation to submit the Application. No communication (written or oral) received from any or all of Thrifty and its Related Entities shall be deemed to be an assurance or guarantee as to the expected results of the Application; and

• it is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms and conditions and risks of the Application.

• it unconditionally assumes, the risks and obligations embodied within the Application.

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Costs

The Applicant agrees to, regardless of whether the Loan Application was successful or not, pay or reimburse all costs and expenses of Thrifty (and its officers, employees and agents) in relation to:​

• the negotiation, preparation, execution and loan application outcome delivery (said amount not to exceed $300); plus

• all 3rd party costs incurred by Thrifty during the application information confirmation and credit assessment process (all information to which Applicant is legally entitled, will be made available to the Applicant upon written request); plus

• all costs related to the securing and/or registration of Thrifty’s security interest, including all legal costs and expenses and any professional consultant's fees, on a full indemnity basis and without the necessity for any taxation or assessment. all costs related to the enforcement, attempted enforcement, protection or waiver of any rights, powers or any consents given to Thrifty under these terms and conditions.

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Failure to proceed

Should any related party notify Thrifty of the Applicant’s intention to not proceed with the Loan, or should Thrifty reasonably determine (in its sole discretion) that due to material delays in a Signatory providing information requested by Thrifty, or conclude from any conduct by a Signatory, that the Applicant intends to not proceed with the Loan, for any reason whatsoever, then Thrifty will be entitled to demand (in its sole discretion) a payment not greater than 5% of the sought loan value and the Applicant unconditionally agree to settle such demand without delay.

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Payments

All payments to be made to Thrifty shall be paid without any deduction or withholding for or on account of tax (a "Tax Deduction ") unless a Tax Deduction is required by law. If a Tax Deduction is required by law to be made, the amount of the payment due shall be increased to an amount which (after making any Tax Deduction) leave an amount equal to the payment which would have been due if no Tax Deduction had been required.

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Secured Money​

Secured Moneys means all fees, costs, debts and monetary liabilities of the Signatory (severally or jointly) to Thrifty under or in relation to the fees and charges provided for in this agreement, irrespective of whether the debts or liabilities:​

• are present or future;

• are actual, prospective, contingent or otherwise;

• are at any time ascertained or unascertained;

• are owed or incurred by or on account of the Applicant alone, or severally or jointly with any other person;

• are owed to or incurred for the account of the Financier alone, or severally or jointly with any other person;

• are owed to any other person as agent (whether disclosed or not) for or on behalf of Thrifty;

• are owed or incurred as principal, interest, fees, charges, Tax, damages (whether for breach of contract or tort or incurred on any other ground), losses, costs or expenses, or on any other account;

• are owed to or incurred for the account of Thrifty directly or as a result of:

  • the assignment or transfer to Thrifty of any debt or liability of an Obligor (whether by way of assignment, transfer or otherwise); or

  • any other dealing with any such debt or liability;

  • are owed to or incurred for the account of Thrifty before the date of this agreement or before the date of any assignment of this agreement to Thrifty by any other person or otherwise; or

  • comprise any combination of the above.

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Security

Security means each present or future Security Interest, mortgage, guarantee created under any Mandate Document or other document or agreement created or entered into as security (directly or indirectly) for the payment of any Secured Moneys or the performance of any obligation in favour of Thrifty under a Transaction Document.

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Security Interest

Security Interest means any:​

• PPSA Security Interest;

• security for payment of money, performance of obligations or protection against default (including a mortgage, bill of sale, charge, lien, pledge, trust, power or title retention arrangement, right of set-off, assignment of income, garnishee order or monetary claim and flawed deposit arrangements); and

• thing or preferential interest or arrangement of any kind giving a person priority or preference over claims of other persons or creditors with respect to any property or asset,​

and includes any agreement to create any of them or allow them to exist.

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Security Interest Granted​

Personal Property

Signatory, each in its own individual capacity, grants a Security Interest in its present and after-acquired property (including without limitation anything in respect of which it has at any time a sufficient right, interest or power to grant a Security Interest) to Thrifty to secure payment of the Secured Money by the Applicant to Thrifty.

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The Security Interest is a charge. If for any reason it is necessary to determine the nature of this charge, it is a fixed charge affecting the Secured Property (except that it is a floating charge over any personal property that is a circulating asset for the purposes of the PPS Act).

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Signatory, collectively and individually, acknowledges and consents to Thrifty perfecting its Security Interests by lodging a Financing Statement (as defined in the PPS Act).

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All enforcement provisions of Chapter 4 of the PPS Act apply to all the Security Interests created under or referred to in this agreement.

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Security Property

Each Applicant mortgages all its right, title and interest in all its real property to Thrifty as security for the due and punctual payment of the Secured Money.

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Without limiting this clause, the Security Provider as legal and beneficial owner of the Security Property mortgages all its interest in the Security Property to Thrifty as security for the due and punctual payment of the Secured Money.

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The Applicant agrees and acknowledges that:​

• Thrifty will by virtue of the mortgage provided in clause 13.2(a), have a legal or equitable interest in:

  • all real property in which each Applicant has a right, title and interest; and

  • specifically, the Security Property.

• Thrifty has a caveatable interest and may register a caveat against:

  • any or all the real property in which each Applicant has a right, title and interest; and

  • specifically, the Security Property.​

and may maintain its caveat(s) so registered until all the Secured Money has been paid to it in full by the Applicant.

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Thrifty certificate

A certificate signed by any Authorised Representative of Thrifty stating the amount of the Secured Moneys due and payable, the amount of the Secured Moneys, whether currently due and payable or not or any other matter in connection with this agreement, is sufficient evidence of that amount or matter as at the date stated on the certificate, unless it is manifestly incorrect or the contrary is proved.

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Variation

This agreement cannot be amended or varied without confirmation via either an email, text message, telephone call or handwritten amendment to any transaction document or document given in connection with the purpose or project or loan application between the parties.